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 full year from October 2015 to September 2016, according to figures 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 needs to ‘look at a unique dependence’ on revenue from gambling companies.

That triggered all-time-high profits of £333.4 million ($432 million). The data comes as the sport and its governing body within the UK, the FA, was 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 visible cases of soccer players succumbing to gambling addiction and the BBC has stated 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 banned and fined from the overall game for 18 months, and later fired by Burnley. Professional soccer players are prohibited from placing bets on their own sport, regardless of whether they’re directly associated with 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 in the division were sponsored by gambling businesses.

‘If the FA is certainly severe about tackling the culture of gambling in football, it requires to examine its dependence that is own on gambling organizations, their role in football plus in sports broadcasting, rather than simply blaming the players whom place a bet,’ said Barton.

In the wake associated with Barton affair, FA Chairman Greg Clarke stated the organization would review its policies on betting sponsorship, as well as its deal with Ladbrokes. It is expected to help make a decision in the presssing issue later this summer.

FOBTs Profits Also Break Records, But For How Long?

Meanwhile, the other important takeaway from the new UKGC stats ended up being that another cause célèbre associated with British media, fixed-odds betting terminals (FOBTs), also yielded record revenues 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 associated with the industry’s land-based betting revenue, but there is however a notion they are accountable for increased gambling addiction and social problems.

The government that is british undertaken overview of the machines, which may result in a reduction of maximum stakes. Brits wagered a record $1.82 billion on the machines final 12 months.

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

Earnings for Aristocrat Leisure aren’t taking a leisurely walk on the Australian Securities Exchange, but instead racing towards record profits for the gambling machine manufacturer that is sydney-based.

Recently minted Aristocrat Leisure CEO Trevor Croker is in a great position after their company posted strong earnings for the last six months. (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 calculates to a 53 percent growth compared to the period that is same 2015-2016.

Brand New Aristocrat Leisure CEO Trevor Croker, an employee that is longtime took the place in March, offered 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 old-fashioned 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, formerly untapped markets. 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 Southern Korea are barred from stepping base inside all but among the country’s 18 foreigner-only gambling enterprises.

Aristocrat’s reasoning for the new product is that South Koreans are beginning to more frequently endeavor into casinos in Vietnam, Singapore, and China’s Macau. Aristocrat is additionally seeking to Japan, since the country readies to end its gambling that is commercial prohibition.

The video gaming manufacturer claims it invested over $13.2 million into design and development over the last six months, and will maintain that spending level continue.

Aristocrat provides games for numerous casinos across 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 recent months for Aristocrat. It was just last autumn that the gaming company ended up being 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 are on the verge of striking it rich.

Attorneys for Shonica Guy, the alleged victim in the situation, reported Aristocrat game Dolphin Treasure disguises losses as wins with the use of misleading sounds and images.

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

Australia has the highest gambling rate 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 betting ban currently regarding the books is there since 1992, when the expert 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 bypass that legislation have over and over repeatedly unsuccessful in federal courtrooms.

US Representative Frank Pallone is initiating the conversation on Capitol Hill to repeal the federal ban on sports betting. (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 advised the high court this week that the charges being levied against PASPA by 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 the comprehensive gaming bill that would remove federal obstacles preventing states from creating their own gambling rules.

Formally referred to as Gaming Accountability and Modernization Enhancement Act (a title which was seemingly crafted to cause its ‘GAME Act’ acronym), Pallone’s conversation begins within the homely House Energy and Commerce Committee, where he functions as the Democrats’ ranking member.

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

The GAME Act might have no impact on parimutuel dog and horse track wagering.

Passing on PASPA

When PASPA was finalized into law, it provided exemptions for Nevada, Delaware, Montana, and Oregon, as those four states had some sort of legalized sports betting in devote 1992, with regards to had been enacted. Today, only the Silver State takes advantage that is full of resistance.

Pallone’s discussion draft, which currently does not have a residence bill number, would essentially make recreations betting, along with daily fantasy sports (DFS), a state issue, not a federal one. Jurisdictions like brand 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 entity that is governmental maybe 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 said the statutory law is discriminatory, as it permits Nevada to profit off recreations wagering, while banning others. The argument can be made that the Tenth Amendment should make sports gambling a situation issue, as the energy isn’t reserved towards the federal federal government in the united states 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 recreations 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 united states Supreme Court’s expected decision to dismiss the brand new Jersey challenge, also doesn’t bode well for a sports repeal that is betting.

But Pallone might have a friend, and a powerful one at that, over the aisle in the majority in 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 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 nj year that is last he’s now willing to take a wait to discover approach before resuming their efforts.

Jeff Gural states permitting a casino to complement their Meadowlands Racetrack is a must 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 probably 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 want 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 ny is either open or getting prepared to start, of which point I think voters will say, ‘Wait a second, what are these Atlantic City individuals arguing?”

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

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

Meadowland of possibility

Gural’s racetrack, like therefore others that are many the country, is harming. Attendance is down at live horseracing events, and parimutuel wagering continues to aside decline from the sport’s Triple Crown events.

The estate that is real had proposed the construction of the casino resort at the Meadowlands that could 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 their Liberty nationwide Golf Club.

Gural’s motives were clear: he needs more people at his Meadowlands place to aid the overhead of continuing to host horse races. And there’s a good amount 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 couple of years since the casino flooring opened.

Six-Year Itch

Failed ballot referendums do come with consequences, as similar questions cannot be posed to voters for at the very least two years rejection that is following.

Gural believes permitting 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 their racetrack is the Meadowlands Sports Complex, house to the NFL’s New York Giants and Jets.

Philippine Casinos will be forced to soon Adhere To Anti-Money Laundering Laws

Philippine casinos currently operate without much financial oversight from the us government, but chances of that changing in the not too distant future seem strong.

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

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

Senator Ralph Recto, whom introduced the amendment to add casinos under the anti-money laundering oversight, states the 2001 framework that is legal 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 casinos, and online payment processors facilitating deposits and withdrawals for internet gambling sites, would need to report large or suspicious transactions to the authorities.

Since Duterte took the presidency last June, he’s been on a mission to eliminate the drug trade and other criminal syndicates, including gambling that is underground, from the Philippines. Though he’s lessened his opposition to legal gambling in recent months, he remains adamant that the proper 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 of 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 added to the law’s oversight in 1996.

When a gambler transacts $10,000 or maybe more in one period that is 24-hour gambling enterprises into the US are required to file a Currency Transaction Report. In addition, if cages suspect fraudulent or behavior that is criminal they’ve been legally obliged to complete a Suspicious Activity Report.

Though casinos did not have the best reputation at adhering to the BSA in the years following their inclusion, the industry has recently received praise through the government for taking ‘significant steps’ to block money laundering.

Blue Collar Gamblers Exempt

Whilst the United States says casinos today are better deterring the illicit movement of dirty cash, the Philippines financial regulatory outline allows many checks and balances to get unchecked. That’s because the Southeast Asian country’s anti-money legislation requires only transactions of P5 million ($100,000 USD) or more to be reported.

The extremely high threshold means the vast majority of casino transactions will continue to be completed without direction. But it does provide some form of defense against another major cybercrime.

In February of 2016, millions of dollars obtained through a cyber heist of the Bangladesh account at the US Federal Reserve ended up being laundered through two gambling enterprises into the Philippines. Hackers had scheduled almost $1 billion in withdrawals from the Manhattan-held banking account, however a spelling error stopped the re payments, but not before $81 million was obtained.

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