Author Archives: The Daily Payoff

New Jersey online gambling ops scolded for incentivizing reverse withdrawals

New Jersey online gambling operators have been warned not to slow-roll customer withdrawal requests in the hope that customers will keep gambling.

On Wednesday, the New Jersey Division of Gaming Enforcement (DGE) issued an advisory bulletin regarding some unidentified online gambling licensees “soliciting or incentivizing withdrawal requests to be rescinded or cancelled by the patron.”

The DGE said it had received complaints from customers regarding operators who were taking up to two weeks to process a withdrawal. Some of these customers reported receiving communications from operators “encouraging or enticing [customers] to reverse the withdrawal request and wager the funds.” Some customers were even “offered bonus money to reverse a pending withdrawal request.”

The DGE notes that its existing rules don’t specify a hard time-frame in which operators are required to process withdrawals, and the regulator acknowledged that some delays may be justified in order to prevent fraud or money laundering. But the DGE says withdrawals must be processed “without any delay longer than needed to perform an anti-fraud or anti-money laundering check.”

The 14th specialized event dedicated to the gambling industry – Russian Gaming Week will take place on April 27

On April 27, 2021, Smile-Expo will organize the 14th Russian Gaming Week in Moscow. This is the largest gambling event in the CIS. It will unite the leading companies on the market and experienced experts from various fields at one platform.

Event will be of interesting to owners of casinos and betting shops, organizers of poker games, equipment suppliers, software developers, advertisers, investment companies, members of specialized associations and many others.

Event

A rich program is expected at Russian Gaming Week, which will include a large-scale conference, a demo zone and the prestigious Betting Awards.

Macau VIP gambling claims record low casino revenue share

Macau casinos leaned on mass market gamblers to an unprecedented degree in the final quarter of 2020, a shift that is likely to persist following China’s war on ‘cross-border’ gambling.

Figures released Friday by Macau’s Gaming Inspection and Coordination Bureau (DICJ) show local gambling operators generated combined revenue of MOP22b (US$2.75b) in the three months ending December 31, 2020.

It’s a far cry from the MOP72.3b the market generated in the same quarter last year but a good sight better than the Q3 2020’s MOP9b. The Q4 sum brings the FY20 total to just over MOP61b, barely one-fifth of 2019’s MOP293.3b, reflecting a year of unprecedented challenges for the world’s largest casino market.

The most notable feature of Q4’s results was mass market baccarat’s contribution of MOP11.85b, a nearly 54% share of the overall, while VIP baccarat contributed just MOP7.6b (34.5%), the first time VIP has slipped below a 40% share. Counting non-baccarat contributions, mass market gambling accounted for a record 65.4% of Macau’s overall revenue.

$2 Million WPT Montreal Starts on Sunday, Playground Poker Club Remains Closed

The World Poker Tour (WPT) is back and, despite being unable to set up shop inside Montreal’s Playground Casino, the show goes on.

With Canada’s Playground Poker Club closed, Partypoker will host this year’s WPT Montreal main event online. (Image: WPT)

An executive decision was made in the latter part of 2020 to host the series online. With COVID-19 creating an uncertain climate, the team committed to running the series on Partypoker.

That was a wise decision as the Playground Poker Club has been closed since October. Fortunately for players, Partypoker has stepped into the breach and WPT Montreal will get underway online this Sunday.

$2 Million WPT Montreal Starts on Sunday, Playground Poker Club Remains Closed

The World Poker Tour (WPT) is back and, despite being unable to set up shop inside Montreal’s Playground Casino, the show goes on.

With Canada’s Playground Poker Club closed, Partypoker will host this year’s WPT Montreal main event online. (Image: WPT)

An executive decision was made in the latter part of 2020 to host the series online. With COVID-19 creating an uncertain climate, the team committed to running the series on Partypoker.

That was a wise decision as the Playground Poker Club has been closed since October. Fortunately for players, Partypoker has stepped into the breach and WPT Montreal will get underway online this Sunday.