Monthly Archives: July 2015

Mega Millions reaches $140M jackpot for Friday's drawing

The Mega Millions has reached a jackpot of $140 million for Friday’s drawing.The jackpot has rolled 12 times and grown since June 5. One lucky ticket worth $5,000 was purchased at www.mygalottery.com from Tuesday’s drawing. Mega Millions offers two jackpot payment options: the $140 million annuity prize paid out as one immediate payment followed by 29 annual graduated payments; or the cash option, which is approximately $82 million.

Poker Players Can Sue Iowa Cops for Bankroll Confiscation at Traffic Stop

Some Iowa cops may be in hot water after a judge’s ruling. Two poker players are free to sue the Iowa police officers after the players’ bankrolls were confiscated during a warrantless search, per US District Judge James Gritzner. Gritzner refused to dismiss the lawsuit against state troopers Justin Simmons and Eric VanderWiel, who, claims the […]

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VIP gamblers’ share of Macau casino revenue drops five points

High-rolling gamblers’ share of Macau casino gaming revenue dropped nearly five percentage points in the second quarter of 2015.

Figures released Friday by Macau’s Gaming Inspection and Coordination Bureau (DICJ) show VIP baccarat revenue falling 42.2% year-on-year to MOP 31.57b (US $3.95b) in the three months ending June 30.

The VIP share of Macau’s overall Q2 gaming revenue came to 55.5%, down from 60.1% in the same period last year. There was a time not so long ago in which VIP baccarat accounted for closer to 70% of overall revenue, but the perfect storm of China’s corruption crackdown, a junket operator credit crunch and increased regional competition has upended traditional norms.

Mass market gaming revenue fell 30.2% to MOP 25.3b in Q2. Slots revenue, which is included in the mass market total, fell 18.2% to MOP 2.96b. ‘Live multi-game’ tables – the stadium-style configurations that serve dozens of punters at once via electronic bet settlement – also contracted, falling 11.5% to MOP 504m.

The Double Standard in Sports and Gambling

By Terry Lyons @terrylyons, Contributing columnist @TheDailyPayoff

The landscape is riddled with double standards, hypocrisy, deceit and public posturing. No, we’re not calling out the politicians and law-makers, we’re talking about sports and sports gambling.
The North American sports industry has a lot of different policies on gambling. Let’s list a few.
There’s a policy for sports gambling in Nevada.
There are federal policies for Delaware, Montana and Oregon that allow for lottery-type games and parlay tickets. There was a similar policy for New Jersey, but state legislators failed to move on that loophole back in 1992 and are now trying to carve out an entire new approach for sports wagering while they continue to offer other forms of gambling and poker-play online to Jersey residents and in-the-flesh in Atlantic City.
There are policies for horse racing. There are policies for Off Track Betting parlors affiliated with horse racing.
There are policies for Native American tribal casinos.
There are different policies for many of the Canadian provinces, some of which have NBA or NHL teams and many which offer parlay wagering similar to offerings in Delaware.
There are policies for international games played, ever so frequently, in London, Mexico and other global destinations by the major North American sports leagues.
There are policies for international play where the Man United’s, Real Madrid’s and FC Barcelona’s along with the FIFA’s and FIBA’s of the world all have top-level bookmaker sponsorships with fully established and, in many cases, public companies like William Hill or BWIN.
There are policies for players.
There are policies for coaches and managers.
There are policies for front office and league personnel.
Some of those very policies drift over to the fantasy sports world where the leagues, their teams and broadcast outlets are making bold and strategic moves to cash in on the craze. The message conveyed is that it’s quite all right to take equity positions, rake in tons of sponsorship dollars, create fantasy gaming lounges and signage, but it’s hands-off for the players, coaches and office-workers.
I’m okay with that. In many cases, contest rules call for employees and their immediate families to refrain from entering the contests to allow the paying customers every possible chance of winning the big prizes without so much as a doubt that an “insider” would have access to the same jackpot.
But here is where the hypocrisy train leaves the station.
For one New York minute, don’t you think the owners, trainers, grooms and jockeys, roaming the back-stretch, have a few bucks on the races?
And, it’s not just horse racing we’re focusing on, here.
It’s perfectly acceptable for professional and amateur golfers to put down a few bucks on practice rounds or trick shots and nobody thinks twice. All in fun, and usually for stakes as low as $1 or maybe as high as $20, Phil Mickelson will have the gallery roaring with laughter on a missed “up and down,” as he did last August at the Barclays Championship in New Jersey.
While Mickelson’s antics with the fans, surely done all in fun, are no different than what takes place on nearly every weekend, on every hole of every golf course in the land, his more – shall we say – aggressive gambling on the NFL and other sports, done legally in Las Vegas, might be of more concern.
Why is Pete Rose vilified for his gambling on baseball and other sports, but Mickelson and Floyd Mayweather are beloved for their frequently boasts about a big hauls in Vegas on specific games or a successful futures bet?
Why can Maurice Jones-Drew be the voice of Fantasy Radio on Sirius XM satellite radio one day but Tony Romo and a group of NFL players were not able to attend a fantasy sports convention organized by a Vegas hotel promoter? Meanwhile, by the way, the NBA Summer League, USA Basketball training camp and the league meetings were putting up the tents at the Wynn Resort.
When basketball’s World Cup or the Olympics roll around, FIBA’s official sponsor BWIN will be taking action on the game in all corners of the earth, sans the almighty U.S.of A.Come this September 20th, BWIN will be taking wagers on the European Championship (qualifier for the 2016 Rio Summer Games) where pros and amateurs roam the courts, but should  someone mention wagering on college basketball-aged players in North America and ghosts of Henry Hill will surely hunt you down and haunt your Uncle Paulie.
At least, the NBA’s progressive Commissioner Adam Silver has come out to publicly state his long-range viewpoint and his desire to properly prepare for and regulate gaming, preferably on a Federal level rather than going State-by-State or Province-by-Province (in Canada) with different laws on the books. Silver’s NBA made a strategic equity play to back DFS provider Fan Duel and many sports Venture Capital funds – some of the coffers backed by team owners in all of the sports – are lining up for strategic plays in gaming, igaming and tech.
Isn’t it time for the hypocrisy to end? Isn’t it time for the commissioners of the four major pro sports of North America to come to terms with the issue, following Silver’s giant-step lead from his self-penned article in the New York Times? Isn’t the facade of DFS gaming just the taxiway to the promised land of full-scale sports wagering worldwide?
In a truly global economy, shouldn’t the gaming laws of the United States and Canada reflect the laws of Europe, Asia, South America and Australia?
Don’t bet on it happening anytime real soon.

Betfair CEO Breon Corcoran given £10m bonus for company turnaround

Betfair CEO Breon Corcoran (pictured) has been given a £10m bonus for his role in turning around the online betting exchange.

Betfair recently issued its fiscal 2015 annual report, which revealed that Corcoran’s total pay packet came to £11,627,000, of which £10,064,000 was awarded in long-term incentives. The incentives were established when Corcoran joined Betfair in August 2012 after being lured away from rival Paddy Power.

In order for Corcoran to collect, Betfair’s performance had to exceed specific targets regarding revenue and earnings. Additionally, personal benchmarks included growing business profitability, customer acquisition and developing a “high performance culture.”

Betfair’s performance over the past year has been nothing if not exceptional, and the actual revenue and earnings performance easily exceeded their targets. As a result, Corcoran’s annual bonus came to £953k, or 179.57% of his annual salary.

888 Holdings Bwin.party Acquisition for $1.4 Billion Could Create Gambling Supergroup

888 Holdings will acquire bwin.party for £898 million ($1.4 billion), it was announced early Friday morning. The news will surprise many. While 888 has been at the negotiation table since at least mid-March, a larger bid from GVC Holdings, backed by Amaya Gaming, was believed to be the front-runner until today’s statement. Bwin.party confirmed a […]

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Jury Deliberates Former Lottery Worker's Fraud Case

An Iowa jury is deliberating the case of a former lottery security officer accused of fixing the Hot Lotto game in 2010 to get himself a winning ticket worth millions then cash it anonymously through a network spanning Canada , Texas and New York. Eddie Tipton, of Norwalk, Iowa, is charged with two counts of fraud, each carrying a maximum sentence of five years in prison.

South Africa doubles down on opposition to online gambling expansion

It’s increasingly evident that gamblers in South Africa waiting for legal online poker and casino games will have to vote in a different national government.

Over the past few years, parliamentarian Geordin Hill-Lewis has proposed legislation that would expand the nation’s current online sports betting regime to include poker and casino options. But Hill-Lewis’s Democratic Alliance party remains in opposition and the ruling African National Congress party has shown zero interest in advancing his bills.

This week, the Department of Trade and Industry and the National Gambling Board (NGB) doubled down on their anti-online stance by calling for the development of strategies to prevent unauthorized forms of online gambling from being beamed in from outside the country.

Legislators, regulators, banks, academics and other stakeholders were all in attendance at a seminar in Johannesburg to address how best to combat the problem of illegal online gambling. The Casino Association of South Africa has claimed that illegal online gambling is responsible for at least 5% of the land-based gaming industry’s decline over the past couple years.

888 to maintain Bwin.party brands, spin off technology division

Further details and reactions have emerged regarding Friday’s news that UK-listed online gambling operator Bwin.party digital entertainment had accepted rival operator 888 Holdings‘s £898m acquisition offer.

888’s exec chairman Brian Mattingley told Reuters the deal was “all about scale … When you’ve got critical mass you can ride storms and take advantage of opportunities as they come along.”

Had the two parties been joined at the hip in 2014, their combined revenue would have approached £700m, around £80m more than Canada’s Amaya Gaming, whose joint bid with GVC Holdings was rejected by Bwin.party’s board in favor of 888.

Speaking to analysts following the deal, 888 COO Ital Freiberger emphasized the minimal overlap between the two companies’ core businesses, with 888 being predominantly UK-facing while Bwin.party derives the bulk of its revenue from Germany.

ND lottery sales increase slightly despite fewer j…

North Dakota’s lottery director says ticket sales increased slightly in in the state over the last fiscal year despite fewer multimillion dollar jackpots. Lottery director Randy Miller says North Dakota gamblers wagered just more than $27 million on lottery games for the fiscal year that ended June 30. That’s about $100,000 more than the year before.