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Korean Black Market Horseracing Growing
12/19/09 - The market for illegal private gambling on horse races in Korea could be as high as 30 trillion won ($25.5 billion), four times 'legal' sales at the state-owned monopoly, according to Korea Racing Authority numbers released this week.
The agency told news publication JoongAng Daily that it estimated black market revenues at between 9.3 trillion won to 30.5 trillion won last year, which is 125 pc to 411 pc the total 2008 'legal' sales at the KRA.
The Authority said that the increasing availability of Internet betting had contributed to the soaring black market.
Bets on horse racing in Korea can only legally be made through the KRA, which falls under the authority of the government's Ministry for Food, Agriculture, Forestry and Fisheries and has three racing parks in Busan, Jeju and near Seoul.
The agency also operates 32 betting venues, where the public can gamble while watching real-time televised horse races at the three parks.
A bidding cap of 100 000 won per race was criticised in the KRA report, with the agency calling it too low to keep people interested in legal betting, driving punters to the Internet. The agency said it would consider raising the cap for foreigners.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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