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Asian Betting Exchanges pose a threat to the traditional industry
Friday January 23,2015 : ASIAN ONLINE BETTING EXCHANGES COULD BE CHALLENGED BY HORSE RACING INDUSTRY
With better offers and more flexibility, Cagayan licensed operations allegedly pose a threat to the traditional industry.
Peer to peer online betting exchanges licensed in Cagayan and based in the special economic zone are creating headaches for the traditionally competition-averse horse race betting business and could face growing challenges, reports the publication AGTech Brief.
The traditional industry views interlopers like Citibet and AAStar as a competitive element that dilutes their turnover, and claims that they are a threat to industry integrity and contribute nothing in taxes or fees.
Because the exchanges lack transparency, do not work with the authorities or provide account information for use in inquiries and reviews, they are accused of endangering the integrity of the business..
The Asian Racing Federation is mulling ways in which that situation might be changed, but its secretary general, Andrew Harding, acknowledges that it will take time and a systematic strategy.
The other side of the coin, according to betting exchange supporters, is that the peer to peer exchanges offer a better deal to the punter, and the real reason for concern in the traditional industry is based on a fear of competition.
AGTech says the extent to which the Asian online betting exchanges have penetrated the market is difficult to gauge, given their generally opaque nature, but it estimates from available information and expert opinions that their turnover is now greater than that achieved by betting exchanges in the West like Betfair, and possibly exceeds the legal totalisator pools in Hong Kong and Singapore (it points out that the Hong Kong Jockey Club last season boasted a record betting handle of more than HK$100 billion).
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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