Soccer Generates Record £1.4 billion Revenues for UK Bookies

Soccer Generates Record £1.4 billion Revenues for UK Bookies

Soccer yielded a record £1.4 billion ($1.8 billion) in revenues for UK bookmakers into the year that is full October 2015 to September 2016, according to numbers released this week by the united kingdom Gambling Commission.

Premier League soccer player Joey Barton was recently sanctioned by the FA for gambling violations but he says the British’s soccer governing body needs to ‘look at its dependence’ on revenue from gambling companies.

That triggered all-time-high profits of £333.4 million ($432 million). The data comes once the sport and its regulating body into the UK, the FA, has been accused of getting too cozy a relationship that is financial betting companies, who provide it with multiple millions in sponsorship deals.

Meanwhile, there have recently been several profile that is high of soccer players succumbing to gambling addiction and the BBC has stated that gambling among players is widespread.

Most recently, Burnley midfielder Joey Barton admitted to bets that are placing 1,260 matches between 2006 and 2013, including at least five in which he was a player.

He had been fined and banned from the overall game for 18 months, and later fired by Burnley. Professional soccer players are prohibited from putting bets on the sport that is own of whether these are typically straight taking part in the games or not.

Elephant in the Locker Room

Barton, an outspoken social media user, has admitted he is a gambling addict and criticized the FA for failing woefully to consider a medical report that showed he’d looked for help for his addiction. He also accused the FA of hypocrisy.

The FA has a deal that is longstanding bookmaker Ladbrokes while, in the 2016-17 Premier League season, ten of the 20 teams competing in the division were sponsored by gambling companies.

‘If the FA is really serious about tackling the culture of gambling in football, it needs to have a look at its dependence that is own on gambling businesses, their role in football and in sports broadcasting, rather than simply blaming the players who place a bet,’ stated Barton.

In the wake of the Barton affair, FA Chairman Greg Clarke said the corporation would review its policies on betting sponsorship, also its cope with Ladbrokes. It is expected in order to make a choice regarding the issue later this summer.

FOBTs Revenues Additionally Break Records, But Also For How Long?

Meanwhile, the other important takeaway from the brand new UKGC stats was that another cause célèbre of the British media, fixed-odds betting terminals (FOBTs), also yielded record revenues for the betting industry.

The terminals, which are installed in betting shops through the entire nation, now take into account more than 50 percent for the industry’s land-based betting revenue, but there is however a perception they are accountable for increased gambling addiction and social problems.

The government that is british undertaken a review of the machines, that might result in a reduction of maximum stakes. Brits wagered a record $1.82 billion on the machines year that is last.

Aristocrat Leisure Hits Jackpot, Gaming and Slot Manufacturer Earnings Soar 53 Per Cent

Earnings for Aristocrat Leisure aren’t taking a leisurely stroll on the Australian Securities Exchange, but alternatively rushing towards record profits for the Sydney-based gambling machine manufacturer.

Recently minted Aristocrat Leisure CEO Trevor Croker is in a great position after their company posted strong earnings for the last half a year. (Image: GGRAsia)

Aristocrat revealed this week through its half-year fiscal economic report that its net profits for the six months closing March 31 totaled AUD$249.6 million ($187.4 million). That calculates to a 53 percent development set alongside the same duration in 2015-2016.

New Aristocrat Leisure CEO Trevor Croker, an employee that is longtime took the position in March, provided credit to the employees who develop and manufacture the gaming devices. ‘The key part is getting the best game design skill,’ the executive told the Australian Financial Review.

Shares of Aristocrat soared during Thursday trading to highs that are new. The stock closed up almost four percent to $15.70. Though it’s headquartered in Australia, Aristocrat has workplaces on every livable continent, including six locations in the US.

Australian for Cha-Ching

Aristocrat Leisure manufactures everything from traditional themed slot machines, to innovate technological formats that are progressive to video gaming platforms aimed at millennials.

With profits in the rise, the Australian business has its eyes set on new, previously untapped areas. One focus could be the South gambler that is korean a demographic that is traveling to foreign gambling enterprises to gamble.

During the gaming that is global earlier this thirty days, Aristocrat revealed A southern Korean-centered gaming device based on the country’s mythology. Citizens in South Korea are banned from stepping base inside all but one of the country’s 18 foreigner-only gambling enterprises.

Aristocrat’s reasoning for the new product is that South Koreans are beginning to with greater regularity endeavor into casinos in Vietnam, Singapore, and China’s Macau. Aristocrat is also trying to Japan, while the country readies to get rid of its commercial gambling prohibition.

The video gaming manufacturer says it invested over $13.2 million into design and development within the last six months, and can maintain that investing level moving forward.

Aristocrat provides games for numerous casinos throughout the world. Gambling enterprises that recently opened in the Philippines, Malaysia, and South Africa all have devices supplied by the Aussie manufacturer.

Leisure Suit Fail

The news headlines haven’t all been good in present months for Aristocrat. It had been fall that is just last the gaming company was sued for allegedly manufacturing ‘deceptive’ devices.

A disgruntled problem gambler charged Aristocrat, along using the Crown Casino in Melbourne, of using psychologically manipulative schemes to convince players they truly are on the verge of striking it rich.

Attorneys for Shonica man, the alleged victim into the full case, claimed Aristocrat game Dolphin Treasure disguises losses as wins by using deceptive sounds and images.

Aristocrat was never found accountable of any wrongdoing, but Guy, along with powerful Australian Senator Nick Xenophon, initiated a campaign called ‘Pokie-Leaks.’ The motion sought confidential information from gaming manufacturer employees whom possessed knowledge of deceptive gaming techniques and the way the industry targets vulnerable players.

Australia has the gambling rate that is highest in the entire world. The normal Aussie bettor loses around $2,300 annually on gambling.

Federal Sports Betting Ban Repeal ‘Discussion Draft’ Introduced in House Committee

A US sports betting ban currently on the books has been there since 1992, when the pro and recreational Sports Protection Act (PASPA) was finalized into law by then-President George H.W. Bush. A quarter century later, New Jersey’s efforts to override that legislation have repeatedly failed in federal courtrooms.

US Representative Frank Pallone is initiating the conversation on Capitol Hill to repeal the ban that is federal sports gambling. (Image: Bill Clark/Getty Photos)

The Garden State asked the US Supreme Court to consider the case after numerous appeals. But Acting Solicitor General Jeffrey Wall has encouraged the high court this week that the charges being levied against PASPA by nj do not merit acceptance, effectively ending the state’s chances at catching a Hail Mary.

In reaction, Rep. Frank Pallone (D-New Jersey) introduced a ‘discussion draft’ of a comprehensive gaming bill that would remove federal obstacles preventing states from creating their own gambling regulations.

Formally known as the Gaming Accountability and Modernization Enhancement Act (a title that has been seemingly crafted to result in its ‘GAME Act’ acronym), Pallone’s conversation begins within the homely House Energy and Commerce Committee, where he serves as the Democrats’ ranking member.

‘Despite the gaming that is federal in spot today, People in the us are betting as much as $400 billion a 12 months on sporting events alone,’ Pallone stated in a statement. ‘It’s time to recognize that the statutory rules are outdated, as well as the GAME Act will modernize them by increasing transparency, integrity, and consumer protections.’

The GAME Act could have no effect on parimutuel horse and dog track wagering.

Moving on PASPA

When PASPA had been finalized into law, it offered exemptions for Nevada, Delaware, Montana, and Oregon, as those four states had some type of legalized sports gambling in devote 1992, with regards to ended up being enacted. Today, just the Silver State takes full advantage of its immunity.

Pallone’s discussion draft, which presently doesn’t have a residence bill number, would make sports betting essentially, as well as daily fantasy sports (DFS), a state issue, not a federal one. Jurisdictions like brand New Jersey wouldn’t face federal prosecution for authorizing its casinos and racetracks to offer moneylines and point spreads on sports, should his outline one day become law.

The discussion draft summary says the overall GAME Act would ‘provide that a person or entity that is governmental not susceptible to civil or criminal obligation under federal law for gaming activity that is lawful under state law.’

PASPA opponents, including other New Jersey politicians, have actually said the statutory law is discriminatory, as it allows Nevada to profit off activities gambling, while banning others. The argument normally made that the Tenth Amendment should make sports gambling a state issue, as the ability isn’t reserved to the federal federal government in the usa Constitution.

Pallone vs PASPA Odds

Sports gamblers outside Nevada who use offshore betting networks will likely support Pallone’s goal of repealing PASPA. However a road that is long before legal bets on sports will require place outside the Silver State.

Challenges to law that is federal always come as the underdog, especially one as old as PASPA. The recent verdict from Wall, and the usa Supreme Court’s expected decision to dismiss the latest Jersey challenge, also does not bode well for the recreations gambling repeal.

But Pallone might have a friend, and a powerful one at that, across the aisle in the majority regarding the Energy and Commerce Committee. Rep. Joe Barton (R-Texas) is vice chair of the committee, and has very long advocated for poker, a game he personally enjoys, become legal on the web.

Meadowlands Racetrack Owner Jeff Gural Patient Over North Jersey Casinos

The Meadowlands Racetrack owner who campaigned to end Atlantic City’s monopoly on casinos in nj final year says he’s now willing to have a wait to discover approach before resuming their efforts.

Jeff Gural claims permitting a casino to complement his Meadowlands Racetrack is vital to safeguarding the horse venue’s future. (Image: Reena Rose Sibayan/The Jersey Journal)

Talking at the East Coast Gaming Congress in Atlantic City this week, property developer Jeff Gural explained his belief that Garden State voters will likely be more ready to accept bringing casinos north should gambling come to your New York City metro in the coming years.

A ballot referendum to expand gaming and allow two multibillion-dollar integrated resorts at least 72 miles outside Atlantic City was easily rejected during last November’s election.

‘I do not desire to see this come on the ballot and lose again,’ Gural reported, as reported by the Associated Press. ‘ I’d rather wait six years and wait until New York is either getting or open prepared to open, at which point I think voters will say, ‘Wait a second, exactly what are these Atlantic City people arguing?”

Opposition to allowing casinos to flow north in nj said such expansion would deliver a devastating economic blow to Atlantic City. a campaign that is well-financed televisions and radio with spots highlighting the alleged impact gambling in northern counties could have regarding the currently fiscally challenged oceanfront town.

New York currently has a ban on enabling a casino to be put into Manhattan, but that ordinance is defined to expire in 2020.

Meadowland of possibility

Gural’s racetrack, like therefore numerous others across the country, is hurting. Attendance is down at live horseracing events, and parimutuel wagering continues to decrease, aside through the sport’s Triple Crown events.

The real estate tycoon had proposed the construction of the casino resort at the Meadowlands that will cost the maximum amount of as $4 billion. Fellow New York businessman Paul Fireman, the head that is former of Reebok, suggested a similar project near his Liberty National Golf Club.

Gural’s motives were clear: he needs more people at their Meadowlands location to aid the overhead of continuing to host horse races. And there’s an abundance of proof that incorporating a casino helps resurrect thoroughbred and harness racing.

A slots-only venue that opened in June of 2015, has helped revitalize the once struggling track in Massachusetts, the Plainridge Park Casino. Parimutuel bets have actually doubled into the two years since the casino floor opened.

Six-Year Itch

Failed ballot referendums do come with effects, as comparable questions cannot be posed to voters for at least two years following rejection.

Gural thinks permitting New York to tip its hand before pressing on improves his odds in gaining support from residents, plus one day hosting a full-fledged commercial casino at the Meadowlands.

While he admits should New York City get a casino, Manhattanites would be less enticed traveling across the Hudson to New Jersey, he believes the millions of North Jersey residents, and tourists, would more than support such an investment. Adjacent to his racetrack is the Meadowlands Sports Complex, house towards the NFL’s New York Giants and Jets.

Philippine Casinos Will Soon Be Forced to Adhere To Anti-Money Laundering Laws

Philippine casinos currently run without much oversight that is financial the federal government, but the chances of that changing into the not too remote future seem strong.

The next time a high roller attempts to go large amounts of money through Philippine casinos, a watchdog might be searching over their shoulder. (Image: Bullit Marquez/Associated Press)

The Senate that is philippine is to soon pass a measure that designates gambling venues as institutions included in the nation’s Anti-Money Laundering Act of 2001. If the legislation pass the chamber that is upper find similar majority support in the home of Representatives, President Rodrigo Duterte would sign the statute in his ongoing efforts to rid the country of corruption and criminal activity.

Senator Ralph Recto, who introduced the amendment to add casinos under the anti-money laundering oversight, claims the 2001 framework that is legal deficient, and that gambling enterprises should be subjected to the Philippines Financial Action Task Force (FATF).

The legal execution would be that cashiers at land-based gambling enterprises, and on the web payment processors assisting deposits and withdrawals for internet gambling sites, would need to report large or suspicious deals to the government.

Since Duterte took the presidency last June, he’s been on a mission to get rid of the drug trade and other unlawful syndicates, including gambling that is underground, from the Philippines. Though he is lessened his opposition to gambling that is legal current months, he remains adamant that the proper taxes be paid to Manila.

US Leads by Example

The efforts to include casino and gambling that is online under the country’s anti-money laundering protocols has a page from the US’ playbook.

In America, the Bank Secrecy Act (BSA), which dates back to 1970, requires banking institutions to aid the federal government in detecting and preventing money laundering. Casinos were put into regulations’s oversight in 1996.

Whenever a gambler transacts $10,000 or maybe more in one 24-hour period, gambling enterprises in the US are required to file a Currency Transaction Report. In addition, if cages suspect fraudulent or criminal behavior, they truly are lawfully bound to complete a Suspicious Activity Report.

Though casinos did not have the reputation that is best at adhering to the BSA in the years after their addition, the industry has recently received praise from the government for using ‘significant steps’ to block money laundering.

Blue Collar Gamblers Exempt

The philippines financial regulatory outline will allow many checks and balances to go unchecked while the US says casinos today are better deterring the illicit flow of dirty money. That is because the Southeast country that is asian anti-money regulation requires only transactions of P5 million ($100,000 USD) or more to be reported.

The extremely high threshold means the great majority of casino transactions will still be completed without direction. But it can provide some kind of defense against another cybercrime that is major.

In February of 2016, millions of bucks acquired through a cyber heist of the Bangladesh account at the US Federal Reserve ended up being laundered through two casinos in the Philippines. Hackers had scheduled nearly $1 billion in withdrawals from the Manhattan-held banking account, however a spelling error stopped the re payments, however before $81 million was acquired.

About $38 million has since been recovered by international law enforcement agencies. The crooks behind the seizure remain unknown and at large.