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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 :

NBA Odds: Warriors Big Favorites to Beat Cleveland - The Warriors didn’t take last year’s NBA Finals collapse lying down. They added Kevin Durant to the starting rotation; Durant is +220 to win this year’s Finals MVP award, while Cleveland superstar LeBron James is all by himself – also at +220. Kyrie Irving is the next closest Cavalier at +1000.

$400k Winner at Bodog Casino - To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.

NBA : Warriors Win the West; NBA Finals Next - The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.

Iforium In Partnership With Booming Games - Iforium, the leading provider of casino aggregation software, are pleased to announce a new agreement with Booming Games

PartyPoker Rakebak - Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.

NHL Odds: Lone Canadian Team Plays on Friday - “Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.

NBA Odds: Will Cavaliers Be Rusty in Game 1? - The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.

4 New Microgaming Releases in May 2017 - Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.

PKR Company Statement Update - Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.

Microgaming Wins The Spark Award 2017 - The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.

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