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Italy To approve Online Betting Exchanges

Saturday May 11,2013 :  ITALY SET TO APPROVE ONLINE BETTING EXCHANGE ACTION
 
Another wagering concept could be liberalised before the end of May
 
Italian online punters with a yen for P2P betting exchange action could see their wish list fulfilled before the end of this month as the Italian regulator AAMS moves closer to including this wagering format in its acceptable list of betting methods.
 
May 24 is the current implementation date for the new regulations, which will see suitable companies subjected to extensive testing and inspection by testing agency SOGEI before being let loose on the Italian betting public.
 
However, the testing process is only scheduled to begin in July 2013, so practical exchange betting in the Italian market is unlikely to be in place until August or later.
 
The Italian market offers good potential to companies like Betfair and Betdaq; if accepted and licensed, they will be able to charge up to 10 percent commission on matched bets, but will have to pay a 20 percent tax on profits to the Italian taxman.
 
Maximum winnings per bet on betting exchange activity have been capped by the regulator at Euro 10,000.
 
As with other forms of online gambling, the Italian market is ring-fenced, or dedicated, which restricts player liquidity. The Italian regulator has recently been in talks with its French and Spanish equivalents in a bid to consider the benefits of shared player pools but nothing concrete has yet emerged from these discussions.
 
Home-grown competition could be formidable; the Italian software and network provider Microgame has been talking about a betting exchange product for some time, and it has collaborated with Betdaq partner Global Betting Exchange in developing a proprietary product branded People's IBEX.



Gambling News :

AFC’s fight against match-fixing - The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.

PartyPoker Removes Dormant Account Fees - partypoker today announced that players will no longer be charged fees for inactivity on their online accounts.

NHL Odds: Rangers Look for Seventh Straight in Chicago - The Chicago Blackhawks (8-8-2) will try to get their season on track this Wednesday when they host the surging New York Rangers (9-7-2) in an Original Six showdown. NBCSN has the coverage beginning at 8 PM ET.

ACR $1,400,000 High Five Tournament Series - It has five added tournaments a day for five straight days, with the $420k Main Event on the final day. There are Texas hold’em and PLO game types, and tons of structures.a

Microgaming named in The 10 coolest offices of 2017 - Microgaming named in The 10 coolest offices of 2017 Microgaming’s new HQ has been named in ‘The 10 coolest offices of 2017*’ in the UK, featuring alongside some of the biggest consumer brands.

$75K Win on Mobile Slot @ CafeCasino - Café Casino’s mobile slot, Achilles, paid out in a big way over the weekend. A player from Pennsylvania, Rob J., triggered the game’s free spins mode by landing three scatters.

Microgaming’s The Phantom of the Opera online slot live today - Available to Microgaming and Quickfire operators, The Phantom of the Opera online slot goes live Wednesday 1 November 2017.

2017 Punta Cana Poker Classic Results - The 2017 Punta Cana Poker Classic is now in the books and players are returning home after a week-long poker celebration. And after a major final table deal, two players have the most reason to celebrate. Roberto Carvallo ultimately won the tournament after negotiating a final table deal with Jamin Stokes.

NHL Odds: Winnipeg Jets vs. Minnesota Wild - Blake Wheeler and the Winnipeg Jets will attempt to get two points closer to the Central Division lead on Tuesday, as they take on the Minnesota Wild on the road. The Jets have started strong, and sit in second place in their division. Led by RW Blake Wheeler, the Jets look like a team that could make some noise in the West this season.

Historic weekend at Americas CardRoom - ACR ran two $1,000,000 guaranteed tournaments last Sunday for the first time in their history; a $2,100 high roller for the BOSS Main Event and a $540 buy-in Million Dollar Sunday. They were both on the last day of the $14 Million OSS Cub3d.

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