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Standing Up For Online Gambling

Kudos to Simon Collins, a director of the online gambling company Cashcade, who this week did something constructive on perceptions of the industry in an op-ed article for The Independent newspaper in the UK.
 
In the piece, Collins pays tribute to the online gambling regulatory framework set up by the UK government, which he says many other countries now seek to emulate.
 
"The online gambling industry has no shortage of detractors," Collins writes. "If you believe the press, our davincis goldfledgling sector is responsible for almost everything wrong in the UK. From marital breakdown and money laundering, to addiction and moral bankruptcy.
 
"Not surprisingly, the reality is very different. The UK market is, in fact, the most tightly and effectively regulated in the world. The Gambling Act of 2005, overseen by the draconian Gambling Commission, has ensured that only responsible, professional companies are able to operate.
 
"Just compare this to the US, where a prohibition-style offensive on all online gambling has forced American citizens into the arms of "illegal" operators. These operators may well be nice guys running perfectly reasonable odds and fair games. However, the US Department of Justice views any company taking US play as criminal," he writes.
 
Collins goes on to opine that at least partly as a result of New Labour's progressive regulation, Britain has become the world centre of a thriving, technologically advanced, twenty-first century business.
 
"Over the past few years, our industry has created plenty of opportunity for individuals and businesses on these shores. For instance, online bingo companies, just one part of the overall industry, spent over GBP 7 million on UK TV advertising in 2008, according to Nielsen Media Research. Or take the many online moderators we employ at Cashcade to help ensure standards of behaviour in our big games, Foxy Bingo, Getminted and Cheeky Bingo. Many of whom are working part-time and enjoy having a flexible, web-based job," he continues.
 
Collins is not entirely complimentary - he is critical of the 15 percent online gambling tax introduced by the British government, which he says has led to fewer funds arriving in the Treasury’s coffers, because most of the industry moved to nearby countries such as Malta.
 
"The Internet has thrown up complex difficulties in almost every walk of business, not least the gambling industry," Collins writes. "But the UK Government was the first to tackle these issues head on. And now the rest of the world is following its lead. Spain, Italy, France and even President Obama all seem to be preparing regulation designed to entice online gambling operators to their countries.
 
"So for once let's be pleased we were the first to get something right here in the UK," he concludes.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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