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 in the year that is full October 2015 to September 2016, according to numbers released this week by great britain 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 requirements to ‘look at a unique dependence’ on revenue from gambling companies.

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

Meanwhile, there have lately been several visible situations of soccer players succumbing to gambling addiction and the BBC has reported that gambling among players is widespread.

Many 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 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 they have been 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 to consider 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 contending into the unit were sponsored by gambling companies.

‘If the FA is truly severe about tackling the culture of gambling in football, it needs to view its very own dependence on the gambling businesses, their role in football as well as in sports broadcasting, rather than just blaming the players whom place a bet,’ stated Barton.

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

FOBTs Revenues Additionally Break Records, But For How Long?

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

The terminals, that are installed in betting shops through the country, now account fully for more than 50 percent of the industry’s land-based betting revenue, but there is however a notion that they are accountable for increased gambling addiction and social problems.

The British federal government has undertaken overview 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 taking a leisurely stroll on the Australian Securities Exchange, but alternatively rushing 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 their company posted strong earnings for the last half a year. (Image: GGRAsia)

Aristocrat revealed this week through its half-year fiscal report that is financial its net profits for the six months ending March 31 totaled AUD$249.6 million ($187.4 million). That determines to a 53 percent growth compared to the exact same duration in 2015-2016.

New Aristocrat Leisure CEO Trevor Croker, an employee that is longtime took the place in March, gave credit towards the employees who develop and manufacture the gaming devices. ‘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 brand new highs. 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 america.

Australian for Cha-Ching

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

The australian company has its eyes set on new, formerly untapped markets with profits on the rise. One focus may be the South Korean gambler, a demographic that is traveling to foreign casinos to gamble.

During the Global video gaming Expo earlier this thirty days, Aristocrat revealed A south Korean-centered gaming machine based on the nation’s mythology. Citizens in Southern Korea are barred from stepping foot inside all but one of the country’s 18 casinos that are foreigner-only.

Aristocrat’s reasoning for the new item is that South Koreans are beginning to with greater regularity venture into casinos in Vietnam, Singapore, and China’s Macau. Aristocrat is additionally looking to Japan, due to the fact country readies to end its gambling that is commercial prohibition.

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

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

Leisure Suit Fail

The headlines haven’t 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 because of the Crown Casino in Melbourne, of using psychologically manipulative schemes to convince players they are in the verge of striking it rich.

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

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

Australia has the gambling rate that is highest in the planet. The Aussie that is average bettor 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 is there since 1992, when the pro and recreational 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 failed in federal courtrooms.

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

The Garden State asked the US Supreme Court to consider the case after numerous appeals. But Acting Solicitor General Jeffrey Wall has advised the high court this week that the charges being levied against PASPA by nj-new jersey do 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 regulations.

Formally known as the Gaming Accountability and Modernization Enhancement Act (a title which was seemingly crafted to trigger its ‘GAME Act’ acronym), Pallone’s discussion will begin into the House Energy and Commerce Committee, where he serves as the Democrats’ ranking member.

‘Despite the gaming that is federal in destination today, Americans are betting as much as $400 billion a year on sporting activities alone,’ Pallone said in a statement. ‘It’s time to notice that the statutory laws are outdated, and also the GAME Act will modernize them by increasing transparency, integrity, and customer protections.’

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

Moving on PASPA

When PASPA ended up being finalized into legislation, it offered exemptions for Nevada, Delaware, Montana, and Oregon, as those four states had some sort of legalized sports betting in invest 1992, when it had been enacted. Today, just the Silver State takes advantage that is full of immunity.

Pallone’s discussion draft, which currently doesn’t always have a home bill number, would make sports betting essentially, in addition to daily fantasy sports (DFS), a state problem, 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 at the mercy of civil or criminal obligation under federal law for gaming activity that is legal under state law.’

PASPA opponents, including other New Jersey politicians, have said the law is discriminatory, as it permits Nevada to profit off recreations wagering, while banning others. The argument normally made that the Tenth Amendment should make sports gambling a situation issue, as the energy isn’t reserved to the federal federal government in the united states Constitution.

Pallone vs PASPA Odds

Sports gamblers outside Nevada whom use offshore networks that are betting likely support Pallone’s goal of repealing PASPA. But a long road continues to be before legal bets on activities will take 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 usa Supreme Court’s expected choice to dismiss this new Jersey challenge, also does not bode well for a sports repeal that is betting.

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

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 to discover approach before resuming his efforts.

Jeff Gural claims enabling 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, real-estate developer Jeff Gural explained his belief that Garden State voters will more than likely be more available to bringing casinos north should gambling come to the 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 don’t wish to see this come on the ballot and lose again,’ Gural stated, as reported by the Associated Press. ‘ I’d rather wait six years and wait until New York is either open or getting ready to start, of which point I think voters will say, ‘Wait an extra, exactly what are these Atlantic City individuals arguing?”

Opposition to allowing casinos to move north in New Jersey said such expansion would deliver a devastating economic blow to Atlantic City. a well-financed campaign inundated televisions and radio with spots showcasing the alleged impact gambling in northern counties could have regarding the already fiscally challenged oceanfront town.

New York currently has a ban on permitting a casino to be put in Manhattan, but that ordinance is placed 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 aside decline from the sport’s Triple Crown races.

The estate that is real had proposed the construction of a casino resort at the Meadowlands that will 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 task near his Liberty National Golf Club.

Gural’s motives had been clear: he needs more people at their Meadowlands venue to guide the overhead of continuing to host horse races. And there’s a lot of proof that including 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 2 yrs since the casino floor opened.

Six-Year Itch

Failed ballot referendums do come with effects, as 21 dukes casino comparable concerns cannot be posed to voters for at least two years following rejection.

Gural thinks allowing New York to tip its hand before pressing on improves his odds in gaining support from residents, and 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 his racetrack is the Meadowlands Sports Complex, home to the NFL’s ny Giants and Jets.

Philippine Casinos will be forced to soon Abide by Anti-Money Laundering Laws

Philippine gambling enterprises currently operate without much oversight that is financial the federal government, but the odds of that changing into the not too distant 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 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 covered by the country’s Anti-Money Laundering Act of 2001. Should 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 gambling enterprises under the anti-money laundering oversight, says the 2001 framework that is legal lacking, and that casinos 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 line payment processors facilitating deposits and withdrawals for internet gambling sites, would need to report large or suspicious transactions 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 criminal syndicates, including gambling that is underground, through the Philippines. Though he is lessened his opposition to legal gambling in current months, he remains adamant that the correct taxes be paid to Manila.

US Leads by Example

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

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

When a gambler transacts $10,000 or even more within a period that is 24-hour casinos in the US are required to file a Currency Transaction Report. In addition, if cages suspect fraudulent or behavior that is criminal they have been legally bound to complete a Suspicious Activity Report.

Though casinos don’t have the reputation that is best at adhering to the BSA in the years following their addition, the industry has recently received praise through the authorities for taking ‘significant steps’ to block money laundering.

Blue Collar Gamblers Exempt

Whilst the US says casinos today are better deterring the illicit movement of dirty money, the Philippines financial regulatory outline enables many checks and balances to go unchecked. That’s as the Southeast Asian nation’s anti-money regulation requires only transactions of P5 million ($100,000 USD) or more to be reported.

The threshold that is extremely high a large proportion of casino transactions will still be finished without direction. 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 almost $1 billion in withdrawals from the Manhattan-held banking account, but a spelling mistake stopped the payments, not before $81 million had been acquired.

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