Gambling: Paddy Power Updates

11/16/09 - Ireland's Sunday Independent newspaper lauded betting group Paddy Power's deal with the former French gambling monopoly Pari Mutuel Urbain this week as a move that will further reduce the quoted bookmaker's dependence on its Irish and UK retail betting shops.

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The newspaper notes that half of Paddy Power's turnover and almost two-thirds of its profits now come from online gambling, and that the new deal is the latest indication that Paddy Power's move online is gathering pace.

In May, the online and land betting group expanded in Australia, paying Euro 32.8 million for 51 percent of Aussie online bookmaker Sportsbet. The following month, Sportsbet paid about Euro 17.8 million for 80 percent of another Aussie online bookie, IAS, to bring Paddy Power's total Australian investment up to Euro 41.9 million.

Analysing the business reasons for Paddy Power's increasing inclination to online betting, the newspaper reports that the group's first half results this (2009) year showed that, while Paddy Power paid out just 88 cents of every Euro wagered in its [land] shops, it paid out almost 94 cents of every Euro gambled online. Internet operations generated almost two-thirds of first-half operating profits - far more profitable than the group's traditional land betting outlets.

"With bookmakers coming under increasing pressure from online betting exchanges, where the only cost to customers is an average three percent deduction from winnings, the price advantage enjoyed over retail outlets will almost certainly be decisive." the Sunday Independent notes for the future.

Cryptologic 14 top games to be provided to Loto-Quebec - 02/08/2012 : The companies have signed a multi-year agreement that will see Cryptologic providing a portfolio of quality games to the Societe du jeu virtuel du Quebec, the online gaming division of the provincial state lottery corporation Loto-Quebec, known as Espacejeux.

Utah : Online Gambling : HB108 - 02/08/2012 : An intrastate attempt by Utah politician Stephen Sandstrom to introduce state legislation banning any legalisation of internet gambling has failed at the start gate.

MORE U.S. DISCUSSION ON INTERNET GAMBLING DUE THIS WEEK - 02/08/2012 : Interest in online gambling in the United States is set to continue on Thursday this week when the US Senate Committee on Indian Affairs meets to hear the views of a wide cross section of interested parties on the possible impact of legalised internet gambling on tribal gaming.

Judge wont dismiss DoJ Black Friday charges - 02/08/2012 : Former Utah banker John Campos and e-processor Chad Elie, who face charges relating to the payment processing of online poker transactions, suffered a setback Tuesday when a Manhattan judge refused to allow their motion for dismissal of Black Friday indictments against them.

ANOTHER MAJOR INTERNET GAMBLING BUST IN MALAYSIA - 02/08/2012 : Police units in Malaysia raided a series of premises in a week long anti-online gambling operation, seizing 225 computers and detaining 47 men, according to reports from the Bernama news agency. All of the detained men were later released on bail.