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Archive for January, 2010

The “Big One” Was a Successful January Promotion

Wednesday, January 27th, 2010

Party Casino introduced the “Big Race” this month and players from all over are enjoying the fun. The great thing about January and online gaming is that many casinos create highly lucrative and exciting new promotions. The competition in the online world is hefty so each one has to work hard to keep up with others and create specials that outdo others in the market. Tournaments, bonuses, specials and events are all combined to create a gaming experience that is better than the competition’s. That’s great news for online gamers. They have a wide variety of options in terms of gaming and can search for the casino that offers them the best experience.

Party Casino is a virtual casino that knows how to build fun. At the beginning of this month it released its new “Big Race” promotion on the 6th.  Players had until the 20th of the month to take part in the slots promotion and celebrate the release of the site’s Melon Madness slot game. Its biggest advantage was a huge $1.5 million online jackpot. The Big Race gave away over $300,000 to players on the leader board and included the top 750 participants as well as random Hot Spot prizes that went to players down to the 1,500th player. It was a great time for the casino and for players who found their way to its website in the earlier part of January.

Spokesperson for Party Casino said, “The Big One’ is structured was a five tiered pool. The highest tier – Colossal Cash – seeds at $1.5m, the biggest online jackpot seed in the industry. ’Melon Madness’ is designed to be a classic 30 line video slot. Play is fast and the free spin feature is played in-reel. We think it’s a jackpot player’s slot game. It only went online over the holiday period and is already amongst the most popular games in the lobby! Our record Gold Mega Jackpot of almost $5 million was hit in December and the jackpot ticker continues to escalate in 2010 as players turn their focus to ‘The Big One.’” Party Gaming is looking forward to 2010 and creating new promotions that are as exciting and fun as the Big One. Keep checking back to see what they have to offer.

 

 

Ladbrokes’ CEO Bell Leaving the Company

Wednesday, January 27th, 2010

Ladbrokes is a British-based gambling company. It is based on Harrow, London and is listed on the London Stock Exchange. The company was founded in 1886 as commission agents for horses trained at Ladbroke Hall in Worcestershire. In 1961, when the government legalized betting shops under the Betting and Gaming Act, Ladbrokes was in the perfect position to introduce fixed odds football betting. The company is a great position to continue growth.

Christopher Bell has been the Ladbrokes CEO for the past 9 years and with the company for over 20 years. His history with the company is an outstanding one. He recently announced that he is leaving the company, however. The 52-year old worker said that summer will be the time he officially leaves and the company is already looking for his new replacement. The common consensus is that his successor will come from within the company, but operators are not ruling out looking beyond the scope of the business to find the right candidate. Industry speculations have it that the Managing Director of the Online Division, John O’Reilly is a serious contender for the job. Over the past year, Bell has been criticized for the lack of international expansion for Ladbrokes’ online division. Bell has said that he will be taking some time off before seeking further employment opportunities in the gambling industry, although he said that he would not be working as hard as he had over the past years.

In a press release the company stressed what an outstanding job Bell has done in his almost-decade long service to the company. The statement read: “It will be difficult to fill his shoes and we look forward to building on the work Mr. Bell made his lifework.”  One criticism is that bell never moved into the international market. Now that the online market is so lucrative, it’s a prime time for large companies with the financial resources to move into the market. It’s a highly competitive one and if a company is already established, most likely it will translate well into the online virtual world with the right direction and supervisors to usher its development. Time will tell if the new CEO is able to capitalize on the market and move the company to higher levels of success.

 

Bet on Sport’s CEO Carruthers Faces Judge Again

Wednesday, January 27th, 2010

It’s been three and a half years of house arrest for David Carruthers. Carruthers is the former CEO of Bet on Sports, a company that closed a few years ago. He was now awaiting sentencing and received 33 months in prison for his part in operating Bet on Sports. The company grossed over $1.25 billion at its peak performance. Originally Carruthers reached a plea bargain with the Department of Justice and he pled guilty to one count of racketeering conspiracy in exchange for having the other charges against him dropped. After serving over three years of house arrest, he was hoping for a more lenient sentence from the judge. Especially after working out a plea bargain, his legal team hoped he would get some sympathy from the court. Judge Jackson felt differently. He said that part of his difficult sentence was motivated by knowing Carruthers only came to understand the severity of his actions late into his reign as CEO of the company.

Bet on Sports has been under question now since 2001. There were many problems with the website from the beginning. Although online gambling is illegal in the US, the company was accused of misleading people into believing that money transferred to them was safe and could be recouped at anytime throughout their time with the company. The money people deposited instead was used to develop and expand the company and was never available for withdrawal. This began the company’s problems and led to an investigation of their business dealings and operations.

Once investigations got underway, the company was on its way out of the market. At the time the company’s owners were sentenced to probation and had to pay a $28.2 million fine that lawyers agree, most likely will never be seen. The company’s founder Gary Kaplan was also sentenced. He received 51 months in prison and is forfeiting $43.6 million. Kaplan pled guilty to conspiracy, racketeering conspiracy and violation of the Wire Act. He at one time was the leader of the world’s largest offshore sports gambling companies. Now that he is onto the second phase of his sentencing, Carruthers is not hopeful. Though he thought there may be some leniency, the judge proved him wrong.

Legislators Change Rules to Ensure Fair Gaming

Tuesday, January 26th, 2010

“Online gambling has changed significantly in recent years with many European countries taking new approaches to regulation,” said the Sports Minister, Gerry Sutcliffe says.  “It would be wrong of us to stand still where things are changing around us – especially where the protection of British consumers may be at stake.”  This is a statement coming on the heels of the UKs report on internet gambling. The report was much-anticipated in the industry because it was set to bring new licensing requirements for operators targeting the UK market. The report also hinted that online operators may have to contribute to the Horserace Betting Levy in the country. Online operators will also have to share their information on suspicions betting modes to help thwart corruption within the sport. Most major casino groups already do some policing of their own. “The new system will also ensure that all businesses offering online gambling to UK consumers adhere to our rules – not someone else’s,” he added. “The Gambling Act is already one of the best regulatory frameworks in the world and these changes will ensure that it sets the standard for all online gambling companies that target British consumers.”

The growing amount of corruption in gaming is a concern with legislators everywhere. Many are looking for new ways to police the market without hindering the growth of the industry as a whole. Critics of gambling has schooled legislators well. Their biggest concern is that the world is not ready to legalize gambling because of the problems that happen as a result of gambling. They cite crime and corruption as the main reasons why policies and procedures need to be instilled in the industry from the beginning. They are warning legislators that don’t spend enough time preparing for legalization that they are surely opening the door for problems in society. As the market fleshes out, there are different concerns and the UK is trying to prepare for them with new policies. It will take time to sort through the issue and new problems will inevitably arise, but if the regulations are already in place with contingency policies awaiting, then they can minimize problems for the future of gambling.

 

Heavyweight Gold Enters the 2010 ISlots market

Tuesday, January 26th, 2010

One of the biggest advantages an online casino can have is to create new games and new mediums of play for players. Those casinos that are able to develop and recreate their roster of games on a consistent basis are the most successful. The reason for this is because the world of online gaming is highly competitive and if one casino isn’t up to par with others, it will lose out quickly. Customers are discerning too. They know what to look for and what to expect from an online casino. They want great customer service, great games, bonuses, specials, promotions, tournaments, and a wide variety of games to test out. It also helps if the casino has an instant play option and takes a wide assortment of funding options.

One website that knows the importance of new games is Sloto’ Cash Online casino. It just announced its first entrant into the 2010 iSlot world. The game is called the “Heavyweight Gold” iSlot game and has a great adventure theme to enjoy. It’s a 20-line slot game that takes you on the adventure of a struggling boxer who is trying to make it big time. There is a training session in a gym. Speed bags and weights to enjoy. There is also the Heavy Weight Gold Championship to strive for. The game accurately recreates a boxing heavy weights life and world. Test out the game if you have ever been a fan of Tyson or Hollyfield.  The slots game is a part of the Rival Gaming world and it’s one of the most interactive games yet to enter the market. You will face off with opponents in the ring in three different scenarios. Each one has his own fighting style that you have to overcome.  The game is an outstanding offering in the world if iSlots and anyone who is a fan of interactive gaming should test it out. The great thing about iSlots is that they are created to engage the player more than regular slots games. There are games within games to enjoy and a wide range of other features to have fun with. Check out Sloto’ Cash online casino website to see how great this game is.

 

Racing for Change Starts in the UK

Tuesday, January 26th, 2010

In an effort to bring horseracing to the mainstream market, the UK horseracing industry has created Racing for Change. It is a series of ten new trials. These include significant changes in the odds format offered at races by introducing decimal odds instead of the current system, as well as the creation of a budget that will reward jockeys and trainers who increase their media appearance outside the industry.  It’s a great way to bring an awareness of the sport to the world. It also couldn’t have come at a better time.

Racing in the world has been on a slow decline in past years. Its popularity has diminished considerably.  That was hard on racetrack owners who want to continue to grow. They have been having a hard time making ends meet for a long time. In the UK, things are no different. Racing for Change chairman Brian McFadden said, “British horse racing is the envy of the racing world with our abundance of outstanding horses. Yet the sport needs to work harder to connect with a wider public. This is, no doubt, a result of a significantly more competitive betting and leisure environment – so we have to raise our game.” He also said that new meetings have created additional ways of spreading the word.

The biggest problem racing has is fighting off the state of the economy. The recession of 2008/2009 was hard on consumers all over the world. They drastically cut back in spending and that included leisure pastimes like racing. In the US alone, the unemployment rate soared above 10% and in some areas it reached as high as 40%. In areas particularly dependent on one industry, like Detroit’s manufacturing industry, it was much more difficult on consumers. They cut all extra spending out of their budgets to manage. Many fell into foreclosure and repossessions and others had to downsize considerably. The lack of funds made it hard to afford anything outside of the essentials on the budget. Only time will tell if the economy is able to turn around as quickly as the racing industry needs or if their efforts to bring more notoriety to the sport will be successful. In the mean time programs like Racing for Change will do as best it can to make racing an exciting and fun hobby for people everywhere.

Kentucky Powerball Winner Creates Controversy

Tuesday, January 26th, 2010

For one player, the New Year brought more than just good tidings. It was an unnamed Kentucky resident who walked away with the end-of-the-year Powerball Lottery. He won $128.6 million from a ticket he bought online. The win was one of the biggest in the history of the lottery and the winner is sure to have a life changing event. He made no formal statement, but speculators say that he must be gearing up for a great 2010.

There is some controversy beyond the winner, though. Kentucky Governor Steve Beshear is in some hot water due to the Powerball win. Kentucky has quickly joined the ranks of US states that are trying to keep internet gambling out. Beshear has pressed hard throughout this past year to stop gambling because he believes that it would be a bad move to allow internet casinos to operate in the state. After much hullabaloo about the legalization of gambling, now the Powerball win is putting the governor to the test.  The state is entitled for $3.5 million in gambling taxes from the lottery win. Though Beshear has been a strong opponent of gambling, his true beliefs will be put to the test now.

Most states that are fighting off gambling’s legalization cite the problems that come along with it as too high a price. Namely addictions are being focused on. If gambling is legalized many critics believe that addictions will grow in numbers and without the proper resources to handle them, people could fall into financial disasters like foreclosure, repossessions and even prison. In addition to an increase in the number of gambling addicts, critics also state that legalizing gambling would bring in more crime and corruption. Without a strong police force centrally focused on monitoring the problem and regulating the issue, the state would surely fall into disaster. Only time will tell what will happen with the issue, but if the past is any indication, Beshear will not be deferring the issue any time soon. He has spent the last year voicing his opinion loudly to the public.  The big Powerball win will say something though– if the governor of Kentucky can be bought.

William Hill Successful with “Snow” Bets

Tuesday, January 26th, 2010

As a testament to where gambling is going, players in the UK bet on snow. Anyone who lives in the UK knows that snow has been a distant memory for the country for years. They haven’t seen any in a long time. That’s why William Hill made news when it began taking bets on whether or now snow would fall on Christmas of 2009. It was a smart move because once they announced they were taking the bets, as many as 27,000 punters began wagering. They all put their money down on whether or not a single snowflake would grace the country on December the 25th. On Christmas Eve a spokesman for William Hill said, “We still expect to take a hit with snow in Scotland and Northern Ireland but are hopeful that London will miss out.”

In the end 15,000 people bet that snow would fall in London, although the forecast confirmed that the snow didn’t hit the capital. “We have potentially dodged a monster payout but we are still going to be watching Buckingham Palace like a hawk as just a flake or two will decide whether we are going to have a festive season or not,” said a William Hill spokesman. The wager on the snow is a sign of how far gambling has come. There was a time when bookkeepers were kept undercover and no one talked about it publicly. However, now, it was big news that they were taking the wages and the number of people betting shows how acceptable the practice is these days.

It’s much like the WSOP. It began over 30 years ago as five people around a table trying to have a fun night of poker play. Now, it’s a huge deal in the world of poker and broadcast live worldwide on ESPN. The event draws mainstream corporate sponsorship and the payouts are in the millions. The event is one of the most highly watched events throughout the ESPN year-long calendar. Just like poker, bookkeeping is gaining a mainstream acceptance in the world of gambling. For anyone who loves wagering, good things are surely to come in the near future.

 

Virginia Weighs Out Lottery Options

Tuesday, January 26th, 2010

“It’s hard to say what the future will hold, but if we continue with certain products, there is probably little or no growth from year to year,” said Paula Otto in a recent interview to the Daily Press. Otto is the Executive Director of the Virginia state lottery and she sees the internet as the only viable option that will spur on growth. Lotteries are suffering, just like other industries in the recession. It’s a difficult time because of the unemployment rate. It’s causing millions of Americans to stop spending. That spending freeze has brought a lot of stress to business owners in almost every industry. Whether it’s housing, lending, manufacturing, retail, auto or restaurants, owners are racking their brains trying to think of new ways to bring up revenues. Unfortunately, unless the unemployment rate starts to level off and decline, there may be no viable option to be found.

Another aspect of expanding gambling to the internet market is that it will make the lottery more competitive. Now that gambling is set to be legalized and regulated by most jurisdictions, there is a highly competitive market on the horizon. Gambling organizations that offer just one type of wagering will be out in the cold. For example, if you walk into any land-based casino, you’ll find a wide variety of games. Most have everything from poker and craps to backgammon and slots. It’s that variety that bring customers in and causes them to return. Most gamblers like the variety of playing multiple, affordable games throughout their gaming session. Some even superstitiously believe that play on a variety of games increases their chances of a big win. Regardless of the reason, the fact is that casinos that offer more games have more steady and repeat customers.

Even race tracks see variety as the way to bring in a new clientele. Many race tracks around the country, both dog and horse, are looking to bring in slot machine gambling. They know that offering slots will bring in an entirely new audience. People who may not necessarily enjoy horse racing, can still come with friends who do and have something to entertain themselves with. When it comes to Virginia’s lottery situation, that variety is also what is needed. Otto also said that “internet gaming is a real option in the future of the state’s lottery and without the internet, there may be no growth potential at all.” Reporters pressed his statement and asked whether or not she thought the future included online gambling and she replied, “In my view, it’s not if, but it is when.”

Republican King Pushed for Legaized Gambling

Tuesday, January 26th, 2010

Peter King is one of the most outspoken republican representatives in the US. He has surprisingly put forth efforts to support the cause of gambling by regulating it. He said, “We are losing revenue and we are not achieving the social purpose that was intended.” In 2006 when the Unlawful Internet Gambling Enforcement Act passed on the back of the Homeland Security Act, King said: “I see no homeland security or terrorist threats or whatever. If anything, regulation makes it less likely that there will be any significant threat.”

It’s interesting that King is pushing the cause of online gambling because there is a lot of opposition to it also. Many believe that if online gambling is legalized it will open the door for addiction. Marty Canfield, opponent of online gambling legalization, said, “The thing about online gambling is that it’s difficult to regulate the internet. It’s in homes. It’s in bars and restaurants. It’s in libraries and workplaces. The internet is everywhere and that’s like an alcoholic having access to alcohol everywhere he or she goes…if someone is prone to addiction, having internet gambling is a setting them up for disaster.” Canfield also stated that the issue is one of a greater magnitude than just being addicted. He believes that people who become addicted due to the avaialbility of gambling may fall into other problems like foreclosure, repossessions and unemployment. It’s a difficult situation for anyoone to be put in and legalizing online gambling is the door that will usher problems in.

King doesn’t believe the same though. He is pushing for the highly lucrative pastime to be legalized and regulated throughout the US. The debate has been a long-time action though. Sides are divided and aggressively fighting for their position. The proponents of online gambling see the huge revenue dollars available as the biggest advantage. The recession was difficult on every municipality. Governments everywhere are suffering as a result of the economic downturn. They believe that online gambling can brin in the millions of dollars in tax-revenue needed to turn thier economies around. Without it, the US is passing on the funds to turn the economy back around.