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MALAYSIAN SPORTS BETTING LICENCE GRANTED

5/14/10 - Malaysian football fans will be able to bet on their favourite international teams, although not on the World Cup, following a relaxation in the country’s strict anti-gambling laws this week.
 
The Finance Ministry has granted Vincent Tan’s Ascot Sports (see previous InfoPowa report) a licence to offer betting on sports such as soccer, basketball, motor racing, tennis and golf. Unfortunately, the more enlightened approach comes too late for the licensee to offer World Cup wagering.
 
The notification was made by Tan's Berjaya Corp., which is buying 70 percent of Ascot for 525 million ringgit ($163 million).
 
The Bernama news agency reports that gambling is a sensitive political issue in Malaysia, where ethnic Malay Muslims comprise nearly two-thirds of the country's 28 million people. Non-Muslim minorities, mainly ethnic Chinese and Indians, are allowed to purchase lotteries and bet on horse races, but betting on other sports has been illegal.
 
Industry officials estimate illegal sports betting in Malaysia could total 20 billion ringgit ($6.2 billion) every year, with soccer betting accounting for about 90 percent.
 
"This represents a tremendous loss of tax revenue to the government, which Ascot Sports hopes to be able to mitigate," Berjaya's statement said.
 
Ascot is likely to launch the betting services by August, not in time for next month's start of the FIFA World Cup in South Africa, a Berjaya official said.
 
The service will be offered through selected outlets and by telephone for non-Muslims aged above 21, according to the Berjaya statement. The official said Ascot might seek approval to offer online betting, in which it has experience from its European venture some years ago.
 
The Federation of Malaysian Consumer Associations has slammed the move, saying it was the government's responsibility to stop gambling rather than benefit from it.
 
"It will encourage people to gamble, and this will cause other problems," such as illegal money lending to pay off debts, more crime and possibly suicides, spokesman Mohamad Yusof Abdul Rahman said.
 
OSK Research has estimated a potential legal sports betting market of RM6.4 billion to RM7.7 billion in Malaysia, or 0.5 percent to 0.6 per cent of gross domestic product.
 
"This is premised on smaller potential sports betting captive market [due to religious restraints] and lower disposable income versus Singapore," it said in its research report.
 
OSK said illegal operators, who were not subject to tax, would have a significant advantage over the legal operators in offering more favourable odds.
 
"This, coupled with the all-important credit facilities granted by the illegal operators (and not the legal operators), suggests that the initial upside for the legal sports betting operators may have to be in the form of lower-yielding marginal gamblers and the RM7 billion legal market estimate may be a longer term target," it said.

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Gambling News :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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