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Online bookies accused of exploiting loopholes by moving offshore

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The UK media is speculating that a clash between bookmaking firms and the horseracing industry may be imminent over falling income from the levy paid by bookies to support the British horseracing industry.
The industry is concerned at last year’s 20 percent decline to GBP91.6 million in the levy paid by bookies, which is based on a percentage of the money made from off-course betting. Adding to their worries are estimates that the 2010 levy is expected to drop to GBP76.5 million, a fall of a further 17 percent.
Horseracing authorities claim that the decline is caused by bookmakers “exploiting loopholes in the regulations,” saying that one tactic has been to move online betting businesses offshore.
The levy is racing’s principle funding stream and contributes to stable lad and jockey salaries as well as towards training and veterinary research and education. It flows primarily through prize money awarded for each race.
This Wednesday will see a board meeting at which horseracing authorities will decide on the new fee, which they want to structure so as to deliver a yield of between GBP130 million and GBP150 million. It is also expected that they will call on the UK government to close the loopholes such as those presented by UK companies moving their internet betting structures offshore..

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Gambling News :

Yggdrasil Gaming Expanding - The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.

FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

Stan james Now Live With EPOS - The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.

Singapore Online Gambling Ban Begins - Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.

Chinese police action against Crown Resorts Widens - In addition to the 18 Crown employees still held after their arrest last week, it now appears that the police questioned 87 Crown punters and junket organizers, detaining 10 of the latter.

Pennsylvania Online Gambling Updates - Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.

WSOPE In Czech Republic - World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.

Medialivecasino in Deal With Microgame - #Medialivecasino live dealer games have already gone live with Microgame joining content from other well-known providers NetEnt and Evolution Gaming.

BtoBet Partners with AfroBet - Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.

Pissed off Tabcorp shareholders - A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.

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