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Ig Sportsbetting 35% Drop in Stock

Spread betting firm IG Group has reported a 35 percent decline in share price, which it claims is the result of the extreme volatility in the markets. IG said clients were becoming "increasingly accustomed" to the wild market swings of the past 18 months, leading to smaller jumps in revenues on more volatile days.
 
Shares tumbled as much as 35 percent as UK revenues fell 7 percent to GBP 31.5 million in the quarter to February 28 - wiping more than GBP 300 million off the firm's value. Australian revenues were also down and the group's Japanese business, FXOnline, has been badly dented by the country's swift slump into recession.
 
The firm allows punters to bet on the direction of shares and markets as well as the outcome of sporting events. Spread betting requires a small upfront stake, but potential gains and losses are magnified.
 
A clampdown on credit controls since October - including automated margin calls and quicker closing-out of loss-making punters - has also dampened revenues, as well as tough trading comparisons with the same period last year. The company is reducing its exposure to customers with large long-term exposure to single stocks, and said that third-quarter charges were due largely to clients with positions in place before the "more stringent" controls were enacted.
 
The firm, which has 550 staff and more than 32 000 customers in the UK, revealed that new account openings remained strong over the quarter at 18 700.
 
"It remains difficult to predict future trends in volatility or customer reaction to changing market and economic conditions," a company statement said.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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