February 2012

EGBA Welcomes Bringing Gambling Experts Together

The European Gaming and Betting Association (EGBA) is welcoming the European Commission initiative to bring together authorities of regulation and Member States’ online gambling experts. This will be the first time they will all get together, and the European Gaming and Betting Association welcomes the great idea.

Female Gamblers Make Up 50% Of The Market

Online gambling has been on the rise, and with it, other various sectors as well. Interestingly enough, more than half the gambling population is made up of women. It was not too long ago that online gambling was a more male dominated thing. For awhile, women made up a third of the gambling population, but somewhere along the way, more women jumped on the gambling wagon, and now there’s as many women gambling as there are men!

Taxation Coming For Offshore Operators

For some time now, the British government has been working on a proposal that would see to it that offshore online gambling operators start paying taxes in the United Kingdom. They would do this by expecting the offshore online gambling operators to obtain secondary licenses in the United Kingdom.

It has been determined that an estimated £300 million a year in revenue is being lost, and that’s a lot of revenue for the government to be missing out on!

Ladbrokes’ Online Gambling Profits Drop

For most UK-based companies, online gambling profits have risen over the course of the past year. However, that has not been the case for Ladbrokes. The online sportsbetting operator saw its first decline in two years during 2011, even after moving its operations offshore. 

UK Bookmakers May Have To Pay Tax

With a few weeks away until George Osbourne, the United Kingdom’s Chancellor of the Exchequer announces the 2012 Budget, one of his associates has come up with a plan to somehow raise an extra £300 million in tax revenue. The plan comes from Conservative MP Mathew Hancock, and his idea to raise this substantial amount is to ask new legislation to crack down on tax avoidance by the gambling industry.

Betfair Releases App

Betfair released their iPad App in the Apple Store last week, which offers some pretty unique custom enhancements made just for the iPad. The app is free to download, and includes features such as:

The signature Apple-esque intuitive landing page, along with access to popular events along with live scores.

Betting functionality that mirrors what is available on the website.

Rank Group Bids for Gala Casinos

 Rank Group is already one of the biggest gambling operators in the United Kingdom, owning and operating over 30 Grosvenor Casinos across the country. Now, Rank is looking to conquer a larger portion of the land-based gambling market in the UK, bidding £250 million for the company.

Gala is the second-largest casino brand in the UK, with over 20 casinos across the nation. Should Rank Group successfully acquire the company, it will own over 50 casinos in the United Kingdom, becoming one of the biggest land-based operators in Europe. 

Investors Warned Against Gambling Stocks

 Earlier this week, investors were warned that gambling stocks may not be the best bet this year. A planned tax hike for the industry is likely to cause a decline in profits, and investors are likely to suffer if they decide to buy shares in local gaming companies.