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Malaysian Sports betting For World Cup

5/13/10 - Remember Vincent Tan’s online sports betting venture Ascot Sports? Back in 2006-2007 the brand gained prominence in the online gambling business in Europe with Ascot Sports.com and later an online casino powered by RTG and licensed in the Philippines.
 
Tan eventually took his brands back to Malaysia, where they resurfaced this week in reports that suggest that some business manouevring is going on, prompted by strong rumours that the stringent Malaysian bans on sports betting may be relaxed for the World Cup football next month.
 
Edge Financial Daily reports that Malaysia's Berjaya Corp is to acquire a controlling stake in Ascot Sports as a frontrunner for a sports betting licence. The company is expected to be a key beneficiary if the government decides to legalise sports betting.
 
Billionaire Tan will presumably still have an interest, because he is also the single largest shareholder in Berjaya Corp.  Berjaya announced a suspension of its shares for today (Wednesday) pending an announcement.
 
The government has yet to announce the award of the sports betting licence but last week Deputy Finance Minister Awang Adek Hussein said he was studying the possibility of issuing licenses to curb illegal betting (see previous InfoPowa report).
 
Compounding the confusion over whether a licence is already held or not, The Star newspaper in Malaysia reported that “…the sports gaming licence issued to tycoon Tan Sri Vincent Tan's Ascot Sports early this year comes with several conditions attached.”
 
The report goes on to reveal that Ascot Sports will be allowed to operate in only 200 of the 680 Sport Toto outlets in non-Muslim areas in major towns, and online betting would be explicitly excluded. These outlets would also be required to put up notices that only adult non-Muslims would be allowed to place bets.
 
The Sports Toto games are offered by Berjaya Sports Toto, a listed company controlled by Tan.
The newspaper commented: “It is also understood that Ascot Sports, which was reissued the licence on January 13, is unlikely to be ready for the FIFA World Cup in South Africa, which will take place between June 11 and July 11.”
 
The Star does note, however, that there has been no official announcement from the Finance Ministry on the award of the licence, although the market and the media have been speculating about it for the past two weeks.
 
Ascot Sports held a licence back in 1987 but agreed to surrender it in 1990 after operating for more than a year in Kuala Lumpur. The Finance Ministry respected the decision and granted Ascot Sports the first right of refusal if the ministry were to think it appropriate to re-issue the licence.
 
The licence was re-issued to Ascot Sports in 2003, but in 2004, the government decided not to allow it to operate, The Star recounts, opining that now may be the right time for government to give Ascot the go-ahead in order to capitalise  on what is expected to be massive World Cup football betting.
 
The newspaper quotes an unidentified source as saying: “We have to be realistic as billions of ringgit are placed on bets for sports events. Revenue amounting to hundreds of millions of ringgit could be collected if a proper mechanism for sports gaming is in place.
 
“The Internet has brought gaming right into your homes and everyone now has access to gaming, but with a gaming license in Malaysia, it would be regulated.”
 
There have been unofficial estimates that Malaysians place RM20 billion in bets a year with local illegal and offshore bookmakers, the newspaper reports.

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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