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NEW JERSEY CONSIDERING BETTING EXCHANGE MODEL

The betting exchange peer-to-peer business model, pioneered in the UK years ago by online gambling giant Betfair, could find new application in the state of New Jersey, reports the Thoroughbred Times.
 
The New Jersey General Assembly this week unanimously approved a bill that would allow this form of betting, which could open up new revenues for the struggling horse racing industry in the state. Online wagering on horse races enjoys a legislative exemption from the Wire Act and the UIGEA, positioning it strongly to exploit a betting exchange model to the full.
 
The bill calls for the New Jersey Racing Commission to oversee and regulate exchange wagering, which will be initially restricted to one licensee, and following its approval in the Assembly is now on its way to the New Jersey state Senate’s Wagering, Tourism, and Historic Preservation Committee.
 
If exchange wagering is approved, only New Jersey residents would be allowed to participate, reports the Thoroughbred Times. Under the current bill, those residents would be allowed to wager on in-state or out-of-state racing.
 
With casino and pari-mutuel wagering slumping in the state, the bill aims to promote horse racing in New Jersey by adding the new form of wagering.
 
The betting form typically relies on advanced real-time technology offered on Internet sites, but the bill has provisions that permit gamblers to bet on the exchange in person or by phone. The intent of the bill is to generate cash for state tracks and horse owners, and proposes an arrangement whereby the first licence would come up for review in 2014, at which time interested parties could propose changes.
 
Betfair, which has acquired extensive interests in US racing through its $50 million TVG deal, could be a front-runner for any licence due to its advanced technology and wide experience in this type of business model.

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Gambling News :

Betsoft Gaming In Deal With SuprNation - Betsoft Gaming’s latest content supply partnership will see its Slots3 collection launched on VoodooDreams.com, SuprNation’s primarily Swedish and Nordic focused online gaming operation.

Ladbrokes New SPonsor of The Hennessy Gold Cup - The longest sponsorship deal in the history of British horse racing has come to an end with Ladbrokes becoming the new sponsor of the race formerly known as The Hennessy Gold Cup for the next five years, Racing Post reports.

Ladbrokes Appoints Annemarie Durbin - Durbin, a qualified lawyer with over two decades of international banking experience, will also take up membership of the Audit, Remuneration, Social Responsibility and Nomination Committees with effect from March 1, 2017.

Olympus Slot Pays $210k Jackpot to USA Player - “I love slots, been playing a long time. I go to Vegas once a year. In between I play online. It’s so convenient. I play mostly Hold the Riches, Pyramid Plunder, Dollar Storm or Olympus. I’ve also started playing keno more.”

Divine Fortune SLot Launches - NetEnt has launched a new local jackpot title “Divine Fortune”, a five-reel, 3-row, twenty-fixed line video slot themed on ancient Greece and a world of mythical creatures, legendary riches, and golden coins.

BetatHome profit guidance for the 2016 financial year - bet-at-home.com AG has lifted its profit guidance for the 2016 financial year following what it terms a “supremely positive business development in the fourth quarter”.

Aussie Millions $1,150 buy-in No-limit Hold’em Accumulator Results - In the latest Aussie Millions event - the A$1,150 buy-in No-limit Hold’em Accumulator, local poker pro Bridges Roe prevailed against a field of 721 to claim the main prize of A$160,725, despite starting the final day at the bottom of the chip counts.

2 Huge Wins at Bovada Casino - Paul D. from Boston, MA, scored really big, earning $808,529.80 playing the Food Fight progressive jackpot slot on the Bovada online casino on a wager of $11.25. Unfortunately Bovada's press release does not give any further details.

China Internet Clean Up Campaigns - The advisory revealed that the current drive will run through to the end of March 2018, and that online gambling and other inappropriate or unacceptable content must be blocked because:

AOPA to campaign for poker to be left alone - The threat that amendments to the federal Australian Interactive Gaming Act aimed at stopping in-play action could spill over into an online poker ban has motivated Aussie players to form an action group in support of the game.

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