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Social Gambling Looking For Liberal USA Market
Friday March 15,2013 : SOCIAL GAMBLING SITE EYES A MORE LIBERAL U.S. MARKET
As individual states move toward legalisation, Fanhood could be a winner
The online gambling liberalisation trend currently sweeping a number of US states has given hope to social gaming operators like Fanhood, which allows social punters to buy tokens and make sports wagers with their friends…but not withdraw cash.
"Experience sports betting, play sports trivia and challenge other fans' teams in the most exhilarating sports app on Facebook!" urges the landing page of the dotcom site as the traditionally frenetic March Madness betting season triggers in the United States.
CEO Brandon Ramsey, a former engineer at Yahoo and Zynga, says Fanhood is aimed at the millions of Americans who make casual sports bets with friends for fun and bragging rights. The enterprise has already attracted 50,000 active users on Facebook who can use virtual currency tokens to bet on everything from the Superbowl to NHL hockey games.
“It’s the same kind of psychology as taking $5 from a friend,” said Ramsey this week, claiming that Fanhood’s social networking facilities and on-going tallies of bet outcomes keep users coming back.
Fanhood is legal under current US laws because players can’t cash out. If those laws were to be changed at state level, that situation could be improved from a player perspective, although a sports betting option is particularly tricky due to the existence since 1992 of the federal government's Professional and Amateur Sports Protection Act (PASPA) which restricts sports betting to just four US states.
PASPA has twice been unsuccessfully challenged by the states of Delaware and, more recently, New Jersey which wanted to expand into sports betting. The latter state has appealed a negative judgement against it earlier this year by federal judge Michael Shipp
In the meantime, it looks as if Fanhood will have to be content with present income, unless a takeover materialises from one of the major gambling groups.
There has been a trend toward social gambling convergence during the last two years, illustrated through acquisitions in the sector by firms like IGT, Caesars Entertainment, Aristocrat and Bally Technologies, and a slew of partnership and cooperation deals by a range of companies that have social gaming expertise, and those that want to harness it..
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2017 Aussie Millions Event 1 -
The Melbourne-based player bested a field of 1,565 entries - 245 up on last year's equivalent - to end up in the heads up with New Zealnad's Qiang Fu, but not before both he and Qiang had narrowly escaped at the four-handed stage when they were the low stacks.
Swiss Reject idea to Block Gambling Websites -
The Legal Affairs Committee of the Swiss National Council has nixed new regulations which would have blocked access to online gambling sites in Switzerland, according to local media reports Tuesday.
Growth Ahead For Online Gambling -
Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.
New Qubit software For SkyBetting -
#qubit Sky Betting & Gaming aims to top its record 50 percent revenue growth last year with new player differentiation software and expertise provided by the Qubit company.
Slotfather II Slot Launching -
#betsoft The first is a sequel to the popular gangster-themed online slot Slotfather, unsurprisingly titled Slotfather II, whilst the other is a new 243 ways-to-win game titled Fa Fa Twins..
Massachusetts Online Lottery Bill -
Flanagan's confidence was clearly boosted by the bill's success in the Senate last year, although it was not developed by the House and ran out of time.
Italy Doing Well With Online Sports betting -
The latest numbers from the Italian regulator show that online sports betting remains king when it comes to internet gambling in the market, generating Euro 391.8 million in turnover in December 2016.
Michigan To Reintroduce Online Gambling Bill -
#Michigan state Sen. Mike Kowell's staff have confirmed that the senator plans to reintroduce his online gambling legalization bill, which failed to make it through the last legislative season.
MGM Buys DC office building For lobbying team -
#MGM Resorts International has bought a new Washington, D.C., office building for its in-house lobbying team, led by former chief counsel to the now retired Nevada Sen. Harry Reid, Ayesha Khanna.
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