Soccer yielded a record £1.4 billion ($1.8 billion) in revenues for UK bookmakers in the full year from October 2015 to September 2016, according to figures released this week by the UK Gambling Commission.
Premier League soccer player Joey Barton was recently sanctioned by the FA for gambling violations but he says the British’s soccer body that is governing 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 since the sport and its governing body into the UK, the FA, happens to be accused of getting too cozy a relationship that is financial betting companies, who provide it with multiple millions in sponsorship deals.
Meanwhile, there have lately 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 was banned and fined from the overall game for 18 months, and later fired by Burnley. Pro soccer players are prohibited from placing bets on the own sport, irrespective of whether they’re straight associated with the games or not.
Elephant into the Locker Room
Barton, an outspoken social media user, has admitted he is a gambling addict and criticized the FA for failing to take into consideration a medical report that showed he had sought 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 groups competing in the division were sponsored by gambling businesses.
‘If the FA is really serious about tackling the culture of gambling in football, it requires to view its very own reliance upon the gambling businesses, their role in soccer plus in sports broadcasting, rather than simply blaming the players who place a bet,’ said Barton.
In the wake of the Barton affair, FA Chairman Greg Clarke said the organization would review its policies on betting sponsorship, in addition to its deal with Ladbrokes. It is expected in order to make a choice in the presssing issue later this summer.
FOBTs Profits Also Break Records, But Also For How Long?
Meanwhile, the other important takeaway from the brand new UKGC stats had been that another cause célèbre of the British media, fixed-odds betting terminals (FOBTs), also yielded record profits for the betting industry.
The terminals, that are installed in betting shops throughout the nation, now take into account more than 50 percent of this industry’s land-based revenue that is betting but there is however a notion that they’re accountable for increased gambling addiction and social problems.
The British federal government has undertaken a review of the machines, that might result in a reduction of maximum stakes. Brits wagered a record $1.82 billion on the devices year that is last.
Aristocrat Leisure Hits Jackpot, Gaming and Slot Manufacturer Earnings Soar 53 Per Cent
Earnings for Aristocrat Leisure aren’t going for a leisurely walk on the Australian Securities Exchange, but alternatively racing towards record profits for the gambling machine manufacturer that is sydney-based.
Recently minted Aristocrat Leisure CEO Trevor Croker is in a position that is great his company posted strong earnings for the past six months. (Image: GGRAsia)
Aristocrat revealed this week through its half-year fiscal financial 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 growth set alongside the exact same duration in 2015-2016.
New Aristocrat Leisure CEO Trevor Croker, an employee that is longtime took the position in March, gave credit towards the employees who develop and manufacture the gaming machines. ‘the key part is having the game design talent that is best,’ the professional told the Australian Financial Review.
Stocks 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 continent that is livable including six locations in the usa.
Australian for Cha-Ching
Aristocrat Leisure manufactures everything from traditional themed slot machines, to innovate technological formats that are progressive to games platforms aimed at millennials.
With profits on the rise, the Australian company has its eyes set on new, previously untapped areas. One focus could be the South Korean gambler, a demographic that is traveling to foreign gambling enterprises to gamble.
During the gaming that is global earlier this month, Aristocrat revealed A south Korean-centered gaming device based on the country’s mythology. Citizens in South Korea are barred from stepping foot inside all but one of the country’s 18 foreigner-only casinos.
Aristocrat’s reasoning for the new item is that South Koreans are beginning to more often venture into casinos in Vietnam, Singapore, and China’s Macau. Aristocrat is also trying to Japan, once the country readies to get rid of its gambling that is commercial prohibition.
The video gaming maker says it invested over $13.2 million into design and development throughout the last six months, and will maintain that investing level continue.
Aristocrat provides games for numerous casinos across the world. Gambling enterprises that recently opened in the Philippines, Malaysia, and Southern Africa all have devices supplied by the Aussie manufacturer.
Leisure Suit Fail
The news have not all been good in current months for Aristocrat. It was fall that is just last the video gaming company was sued for allegedly manufacturing ‘deceptive’ machines.
A problem that is disgruntled charged Aristocrat, along with all the Crown Casino in Melbourne, of using psychologically manipulative schemes to convince players they’re on the verge of striking it rich.
Attorneys for Shonica Guy, the alleged victim in the case, stated Aristocrat game Dolphin Treasure disguises losses as wins with the use of deceptive sounds and images.
Aristocrat was never found guilty of any wrongdoing, but Guy, along with powerful Australian Senator Nick Xenophon, initiated a campaign called ‘Pokie-Leaks.’ The movement sought information that is confidential gaming maker workers whom possessed knowledge of deceptive gaming practices and the way the industry targets vulnerable players.
Australia has the highest gambling rate in the world. The average Aussie bettor loses around $2,300 annually on gambling.
Federal Sports Betting Ban Repeal ‘Discussion Draft’ Introduced in House Committee
A US sports ban that is betting on the books has been there since 1992, when the Professional and Amateur Sports Protection Act (PASPA) was signed into law by then-President George H.W. Bush. A quarter century later, New Jersey’s efforts to override that legislation have over and over unsuccessful in federal courtrooms.
US Representative Frank Pallone is initiating the conversation on Capitol Hill to repeal the federal ban on sports gambling. (Image: Bill Clark/Getty Images)
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 perhaps not merit acceptance, effectively ending the state’s chances at catching a Hail Mary.
Responding, Rep. Frank Pallone (D-New Jersey) introduced a ‘discussion draft’ of a comprehensive gaming bill that would eliminate federal obstacles preventing states from creating their own gambling rules.
Formally referred to as Gaming Accountability and Modernization Enhancement Act (a title that was seemingly crafted to trigger its ‘GAME Act’ acronym), Pallone’s conversation begins in 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 america are betting as much as $400 billion a year on sporting activities alone,’ Pallone stated in a statement. ‘It’s time to notice that the statutory rules are outdated, additionally the GAME Act will modernize them by increasing transparency, integrity, and consumer protections.’
The GAME Act could have no impact on parimutuel dog and horse track wagering.
Passing on PASPA
When PASPA ended up being finalized into legislation, it provided exemptions for Nevada, Delaware, Montana, and Oregon, as those four states had some kind of legalized sports wagering in invest 1992, when it ended up being enacted. Today, only the Silver State takes complete advantage of its immunity.
Pallone’s discussion draft, which currently does not have a home bill number, would essentially make recreations betting, along with daily fantasy sports (DFS), a state issue, not a federal one. Jurisdictions like New Jersey wouldn’t face prosecution that is federal 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 governmental entity is not susceptible to civil or criminal obligation under federal law for gaming activity that is legal 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 recreations wagering, while banning others. The argument can be made that the Tenth Amendment should make sports gambling a state problem, as the energy isn’t reserved towards the federal government in the united states Constitution.
Pallone vs PASPA Odds
Sports gamblers outside Nevada whom use offshore betting networks will likely support Pallone’s goal of repealing PASPA. But a road that is long before legal bets on recreations will need place outside of 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 united states Supreme Court’s expected decision to dismiss the New Jersey challenge, also does not bode well for a activities betting repeal.
But Pallone could have a friend, and an one that is powerful that, across the aisle in the majority on 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, to be legal on line.
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 New Jersey final year says he is now prepared to have a wait and see approach before resuming their efforts.
Jeff Gural claims allowing a casino to complement his Meadowlands Racetrack is crucial 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, real estate 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 wish to see this come on the ballot and lose again,’ Gural claimed, as reported by the Associated Press. ‘ I’d rather wait six years and wait until New York is either getting or open prepared to start, at which point I think voters will say, ‘Wait a second, what exactly are these Atlantic City people arguing?”
Opposition to allowing gambling enterprises to move north in nj-new jersey said expansion that is such deliver a devastating financial blow to Atlantic City. a campaign that is well-financed televisions and radio with spots highlighting the alleged impact gambling in north counties could have in the already fiscally challenged oceanfront town.
New York presently has a ban on enabling a casino to be put into Manhattan, but that ordinance is defined to expire in 2020.
Meadowland of Opportunity
Gural’s racetrack, like so many more across the nation, is hurting. Attendance is down at live horseracing events, and parimutuel wagering continues to decline, apart through the sport’s Triple Crown events.
The estate that is real had proposed the construction of the casino resort at the Meadowlands that would cost the maximum amount of as $4 billion. Fellow brand New York businessman Paul Fireman, the head that is former of Reebok, suggested a similar project near his Liberty nationwide Golf Club.
Gural’s motives were clear: he needs more and more people at his Meadowlands venue to support the overhead of continuing to host horse races. And there’s a lot of proof that incorporating a casino helps resurrect thoroughbred and harness racing.
A 21 dukes casino games 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 within the couple of years since the casino flooring opened.
Failed ballot referendums do come with effects, as similar concerns cannot be posed to voters for at the very least two years rejection that is following.
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.
He believes the millions of North Jersey residents, and tourists, would more than support such an investment while he admits should New York City get a casino, Manhattanites would be less enticed to travel across the Hudson to New Jersey. Adjacent to their racetrack may be the Meadowlands Sports Complex, house to your NFL’s nyc Giants and Jets.
Philippine Casinos will be forced to soon Abide by Anti-Money Laundering Laws
Philippine casinos currently operate without much financial oversight from the federal government, but the odds of that changing within the not too remote future seem strong.
The time that is next high roller attempts to go large amounts of money through Philippine gambling enterprises, a watchdog might be looking over their shoulder. (Image: Bullit Marquez/Associated Press)
The Senate that is philippine is to soon pass a measure that designates gambling venues as organizations included in the nation’s Anti-Money Laundering Act of 2001. If the legislation pass the chamber that is upper find comparable majority support in the House of Representatives, President Rodrigo Duterte would sign the statute in their ongoing efforts to rid the nation of corruption and crime.
Senator Ralph Recto, whom introduced the amendment to add casinos under the anti-money laundering oversight, says the 2001 legal framework is lacking, and that casinos should be subjected to the Philippines Financial Action Task Force (FATF).
The legal implementation would be that cashiers at land-based gambling enterprises, and on the web payment processors facilitating deposits and withdrawals for internet gambling sites, would need to report large or suspicious deals to the authorities.
Since Duterte took the presidency last June, he’s been on a mission to eliminate the drug trade and other unlawful syndicates, including underground gambling rings, from the Philippines. Though he’s lessened their opposition to gambling that is legal present months, he remains adamant that the appropriate 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 takes a page from the US’ playbook.
In America, the Bank Secrecy Act (BSA), which dates back to 1970, requires financial institutions to aid the government in detecting and money laundering that is preventing. Casinos were included with regulations’s oversight in 1996.
When a gambler transacts $10,000 or even more within a 24-hour period, gambling enterprises into the US are required to file a Currency Transaction Report. In addition, if cages suspect fraudulent or criminal behavior, they are lawfully bound to complete a Suspicious Activity Report.
Though casinos didn’t have the best reputation at adhering to the BSA in the years after their inclusion, the industry has recently received praise through the federal government for using ‘significant steps’ to block money laundering.
Blue Collar Gamblers Exempt
Although the US says casinos today are better deterring the illicit movement of dirty money, the Philippines financial regulatory outline will allow numerous checks and balances to get unchecked. That’s because the Southeast Asian country’s 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 supervision. But it does offer some sort of defense against another major cybercrime.
In of 2016, millions of dollars obtained through a cyber heist of the Bangladesh account at the US Federal Reserve was laundered through two casinos in the Philippines february. Hackers had scheduled nearly $1 billion in withdrawals from the Manhattan-held banking account, however a spelling error stopped the payments, yet not before $81 million had been obtained.
About $38 million has since been recovered by international legislation enforcement agencies. The crooks behind the seizure remain unknown and at big.