- bodeequa7 on Pickmoto Brings Sports Betting Back to Basics
- KC on Sportsbook.com Refunds Bets Because NFL Replacement Refs are Horrible
- Ryan on Pickmoto Brings Sports Betting Back to Basics
- Stephanie Bernota on BetBomb Goes Bigger, Announces Contests
- Dustin Blackwell on BetBomb Goes Bigger, Announces Contests
Category Archives: Sports Betting
Nevada Governor Brian Sandoval is offering his full support to the Reid-Kyl Online Poker bill currently proposed in Congress. While it may sound particularly obvious to hear of the governor of the gambling-friendly state of Nevada endorsing such a bill, keep in mind that Brian Sandoval is a Republican. His support of the bill is in opposition to the general stance of the GOP, which would likely favor a total ban on all online gambling operations and a repeal of the DOJ’s interpretation of the Federal Wire Act.
“While many states have long-standing proficiency in regulating brick-and-mortar gaming within their boundaries, the advent of Internet gaming has introduced a borderless element that state regulation alone cannot address,” Sandoval wrote.
“As governor of a state that jealously guards its primacy in the regulation of gaming, I am pleased the proposal maintains state authority to regulate online poker operators built upon a basic federal foundation of common-sense regulatory principles.”
This kind of legislation is being hailed by some politicians as a job-creating opportunity and a chance to generate much-needed revenue for the federal government. Regulate it. Tax it. Be done with it.
Let’s just get this out of the way. Luckity.com is totally legal. Federal law currently allows interstate gambling on horse races, and Churchill Downs is a big fan of that. In an attempt to attract a broader gambling audience, the famous racetrack’s new website will hopefully yield the company larger facing purses and bigger payouts for players.
According to The Courier Journal, here’s how it works:
Luckity.com gamblers can bet their lucky number or have the game choose a number for them. But rather than spinning wheels, horses in races running live somewhere around the world determine a winning bet.
Luckity players can see the location of the race and the names and odds of the horses if they want — though not the video. But the game is more aimed at the gambler who couldn’t be bothered by the difference between a filly and a mare. For instance, gamblers who pick numbers for the Luckity Fast 2 don’t know — unless they want to — that they’re placing an exacta bet on the Tuesday opener at Beulah Park near Columbus, Ohio.
So who is Churchill Downs targeting with this new online venture? The demographic they are after are the same kind of folks enjoying social networking games. To be more specific, they’re aiming at women over the age of 35 who enjoy slots, the lottery, and Farmville.
The company has plans to make Luckity.com available through mobile devices, and officials pointed out that Luckity is in no way related to their hopes to participate in the online poker business. Personally I can see news about that kind of thing hitting the web soon.
Remember a few weeks ago when Sportingbet rejected William Hill’s and GVC’s acquisition deal? As sure as clockwork, a new offer was expected by today, October 16.
The online sport betting firm Sportingbet PLC said today that it has reached an agreement with William Hill PLC and GVC Holdings PLC over a revised proposal. Though a purchase has not yet officially happened, it is expected that Sportingbet will be bought at a value of £530 million.
MarketWatch has the details on the particulars of this important industry development.
But some analysts say the story isn’t over quite yet. According to the Telegraph:
“The proposal values Sportingbet at 61.1p per share, compared to 52.5p in the previous bid. The terms comprise 48.9p in cash, a 1.1p dividend, and 0.0475 GVC shares for each Sportingbet share. However, the proposed offer would also allow Sportingbet shareholders to “mix and match” cash and shares if they wish to alter the split proposed.”
According to Karl Burns of Shore Capital, the deal won’t close until the first quarter of next year:
“We believe the deal is likely to take some time to complete, with William Hill required to apply for an Australian gaming licence, which may take up to three months, whilst also conducting due diligence. Therefore, we believe the deal may not fully complete until the first quarter of 2013.”
Popular fantasy sports websites are legal in most states since 2006 thanks to a notable exception in the federal law, but Maryland decided not to go along with it. According to the Washington Post, the state’s attorney general office defined gambling as “requiring decisions” regarding the element of chance and a prize.
But the General Assembly passed a new law which went into effect on October 1, officially giving Marylanders the right to win prizes, including cash, in fantasy football leagues. This opens the doors to popular sites like FanDuel, Fanball, and FantasySportsLive.com.
According to the Maryland controller’s office, these sites meet the “statutory definition” of ‘fantasy competition’ and may legally operate in Maryland.
But how long will this last? Maryland is concerned about the regulation of fantasy competition, which lends support to the argument that federal regulation is required to properly integrate online gambling into the law.
Bwin, the largest publicly listed online gaming company in the world gobbled up a partnership with Manchester United, allow it to serve as the club’s gambling partner. Manchester’s new three-year sponsorship deal makes it the third soccer—oh, excuse me, football—club to sign with Bwin.
Football betting represents a massive percentage of business for online gambing companies.
“As Europe’s leading online sports betting operator, football is fundamental to our long-term success, making up approximately half of our total sports betting revenue of 261m euros ($320m; £204m) in 2011,” said Norbert Teufelberger, co-chief executive of Bwin’s parent company, Bwin.party.
“Man Utd has 569 million followers outside of Europe, providing us with a great opportunity to offer jointly designed and innovative products in countries that do not yet allow real money online sports betting,” he said.
A partnership like this makes a lot of sense for all parties involved. The company investing the money is of great benefit to the clubs being sponsored, and fans will continue to support their teams and place wagers.
Now, when can we bring this kind of industry development to America?