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Asia Stock Market Looking At Online Gambling

Thursday October 3,2013 : ASIAN MARKETS ARE CONSIDERING ONLINE GAMBLING OPTIONS
 
Singapore and Thailand may be taking the first steps on the road to regulation.
 
The publication Gaming Asia reports that online gambling is appearing on the political agenda in Singapore and Thailand.
 
Singapore Second Minister for Home Affairs, S. Iswaran, recently announced that the government is studying measures to regulate online gambling, whilst a proposal to reform Thailand’s gambling laws to accommodate modern and pervasive genres like internet gambling has encountered heavy resistance but is still a live issue.
 
Gaming Asia quotes Global Betting and Gaming Consultants estimates that internet gambling in Singapore will grow from US$342 million in 2012 to US$519 million by 2017. Yet despite this strong growth, current gambling laws in the country make no specific mention of the online genre, creating an uncertain legal "grey" environment that needs to be addressed.
 
The Singapore government is approaching the issue in a cautious, professional manner, and has called for a study by year-end before moving forward.
 
Meanwhile a large number of offshore online casino and sports betting operators continue to access a very keen and willing market
 
In Thailand, gambling is restricted , with wagering only permitted through the state lottery or at the Royal Bangkok Sports Club in terms of a law passed in 1935.
 
The government of Prime Minister Yingluck Shinawatra proposed reforms in parliament two years ago, hoping to modernise and broaden the country's gambling laws, but various elements of its proposal have triggered stiff political opposition.
 
In the meantime, a massive underground gambling market - currently estimated to be worth around $3.3 billion - has developed to service growing public demand for betting opportunities.

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Gambling News :

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

SOUTH KOREANS BUSTED IN THAILAND ON ONLINE GAMBLING CHARGES - Those detained were named as Jeong Kyujin (35), Han Kyoreh (26), Choi Sung Ming (35) and Bae Jeonghwan (26), all of whom claimed that they had bene hired by a Korean man to operate online gambling sites.

China Lottery Sales Up in 2016 - The Chinese official news agency Xinghua reports that according to figures from the Ministry of Finance released Monday, Chinese lottery sales in 2016 rose 7.3 percent year-on-year to 394.64 billion yuan (about US$57.53 billion).

New chairman and a new director for 500.com - Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.

Russian betting Sites to face rise in tax rates - Online bookies also pay a 1 percent commission on each transaction through the TSUPIS, and face levies at 5 percent of GGR to assist Russian sports federations.

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