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Asian Betting Exchanges pose a threat to the traditional 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).

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Gambling News :

Wanajump Launches - #Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.

Coral Launches player proposition betting product - Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.

Oshi online casino now accepts fiat currencies - The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.

New Standards for UK Online Gambling - Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.

Pennsylvania Gambling Bill 1887 returned with additions - The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.

UKs Advertising Standards Authority vs Ladbrokes - A Ladbrokes Casino email promo has fallen foul of the UKs Advertising Standards Authority who deemed significant terms and conditions concerning bonusing to be unclear or misleading.

Mybet Earnings Struggle - The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".

Tom Horn Awarded Malta Gaming License - Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.

Calvin Ayre invests in new Antigua Business Center - Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.

Attack of the Zombies Slot - Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.

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