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NEW RESTRAINTS ON UK ONLINE GAMBLING IMMINENT
Sunday July 10,2011 : Culture Secretary's review spurred by Black Friday
The events of Black Friday in the United States have probably added momentum to British Culture Secretary Jeremy Hunt's review of UK online gambling, The Guardian newspaper reported over the weekend.
Hunt is preparing to radically overhaul online gambling licensing rules, reportedly to ensure that the Exchequer gets his cut through new advertising restrictions on offshore operators, and British players are better protected.
A spokesman for the Ministry told The Guardian that the events surrounding Full Tilt Poker highlights "...why the government is looking at reforming how overseas-based operators are regulated," adding that the ministry hopes to make an announcement in the next few weeks.
The UK government recently completed a wide-ranging consultation on online gambling. Under current rules offshore companies can advertise and operate without being licensed by the UK Gambling Commission as ministers rely on the strength and integrity of approved overseas regulators, particularly those within the EEC.
Full Tilt and its bigger rival PokerStars have spent millions advertising in British media in recent years and are among the most popular sites with UK players.
Pokerstars, which is licensed in the Isle of Man, appears to have emerged from the US debacle rather better than its rivals, refunding US players and avoiding scandal.
This is in contrast to the other two companies involved in the American enforcement action, Full Tilt and the Cereus network, which have yet to pay players and have been found wanting in useful public communications, losing business and traction in other markets due to (in the case of FTP) suspended licensing.
The Guardian approached the Isle of Man to enquire if it applies a "fit and proper" test to licensees, and was told by Steven Brennan, chief executive of the Isle of Man Gambling Supervision Commission: "The GSC thoroughly checks and vets every director and key official of any online gaming company ... It has the authority, and has used it, to turn down any company where it feels the company or the owners could bring the island into disrepute."
The Isle of Man appears to have more stringent ring-fencing requirements on player deposits than other jurisidictions.
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Gambling News :
Local Florida Poker Pros Scam Marc Klang For $500k -
Previous scumbag rightfully wins over $500,000 gambling against a conglomerate of local poker pros. After using every excuse possible, said group decides they are not paying out any money. After some time they pay out $43k of 500k. Winner warns community of the groups actions to prevent similar future scams.
Super Multitimes Progressive HD Slot -
This 3-row, 5-reel slot features Multipliers, Wilds, Free Spins and four Progressive Jackpot levels offering increasing wins to heighten player engagement.
2017 Aussie Milliona Updates Events 2,3,4 -
Taiwan's James Chen bested Australian Rainer Quel heads up to win the first championship ring of the series in which he defeated a field of 48 players in Event 2: $2,500 H.O.R.S.E. earning the top prize of AUD$39,700.
Juventus name VWin as Partner -
“We are very satisfied with this new regional partnership that confirms Juventus’ global growth in high potential markets such as this one,” Giorgio Ricci, co-chief revenue officer & head of global partnerships and global revenue for Juventus said.
Luckia Group 2016 Results -
The group reports record turnover of Euro 269.66 million, up 12 percent over full year 2015 with EBITDA standing at Euro 44 million, a 26 percent increase over the previous year.
Fire Rooster Slot Launches -
This 5-reel, graphic-rich slot is based on the Chinese legend, The Rooster’s Lament, in which the Jade Emperor chooses specific animals to represent the months of the year.
n2-Live Updates -
The company promises new features designed to enhance the playing experience that “further distance our gaming solutions from the ‘me too’ products currently available in the market place.”
Betfred FY 2016 -
Betfred has seemingly reversed its fortunes with a strong 2016 delivering a GBP 28,438,000 operating profit as opposed to the GBP 77,312,000 loss in fiscal year 2015.
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