Monthly Archives: June 2016

Brexit could provide boost for lottery market

STANDFIRST

With the Brexit referendum creating more uncertainty about global economic growth, and following on from an already sluggish global economic recovery since 2008, more and more consumers are likely to turn to lottery products in the hope of improving their current financial situation. This, combined with the fact that the lottery market is already a reported $218billion industry, could create some massive opportunities. Without a dominant supplier in the market, it could be ripe for disruptive new products. Richard Clarke, Chief Product Officer of Link2Win, explains.

ARTICLE

The dream of hitting the jackpot has a powerful, universal, appeal which crosses national and cultural boundaries. Almost everyone has numbers that hold a personal significance, or which are associated with good fortune, and this is one of the main drivers behind the popularity of lottery products. Factors which create uncertainty about future economic prosperity cross boundaries too – so the fallout from Brexit, and the desire to improve one’s financial position, are likely to add further driving forces behind the appeal of lottery products.

Finance ministry fine-tuning landmark bill for online lottery in Thailand

Online lottery is coming to Thailand. Finally.

The kingdom’s finance ministry is reportedly “fine-tuning” a draft bill that will pave the pave for an online lottery in the country. According to state media outlet Thai PBS, the bill will allow the Government Lottery Office (GLO) to come up with a “new product” aside from traditional lottery tickets, including “online lottery whereby tickets will be available for sale through vending machines or through convenience stores.”

The Thai broadcaster quoted a source familiar with the matter, who said the draft bill will be submitted to the cabinet “for consideration” in September.

Under the bill, 23 percent of GLO’s online lottery-related revenue will be sent to the state coffers. The remaining 60 percent will be allocated as prize monies, and the rest will be used as management fees for the lottery office.

Finance ministry fine-tuning landmark bill for online lottery in Thailand

Online lottery is coming to Thailand. Finally.

The kingdom’s finance ministry is reportedly “fine-tuning” a draft bill that will pave the pave for an online lottery in the country. According to state media outlet Thai PBS, the bill will allow the Government Lottery Office (GLO) to come up with a “new product” aside from traditional lottery tickets, including “online lottery whereby tickets will be available for sale through vending machines or through convenience stores.”

The Thai broadcaster quoted a source familiar with the matter, who said the draft bill will be submitted to the cabinet “for consideration” in September.

Under the bill, 23 percent of GLO’s online lottery-related revenue will be sent to the state coffers. The remaining 60 percent will be allocated as prize monies, and the rest will be used as management fees for the lottery office.

Lottoland Committed to Staying in Gibraltar

Lottoland has responded to Friday’s BREXIT result by emphatically declaring its intention to stay in Gibraltar.

The decision to leave the EU came as a blow for the British Overseas Territory, after 96% of voters in Gibratar came out in favour of the remain camp.

Gibraltar is home to many of the world’s leading e-gaming and sports betting firms and is seen as a worldwide hub for the industry.

Lottoland, which specialises in offerring customers the chance to win the world’s biggest lottery jackpots, arrived in Gibraltar just over 3 years ago and has enjoyed huge success since, attracting nearly 4 million players.

Lottoland Committed to Staying in Gibraltar

Lottoland has responded to Friday’s BREXIT result by emphatically declaring its intention to stay in Gibraltar.

The decision to leave the EU came as a blow for the British Overseas Territory, after 96% of voters in Gibratar came out in favour of the remain camp.

Gibraltar is home to many of the world’s leading e-gaming and sports betting firms and is seen as a worldwide hub for the industry.

Lottoland, which specialises in offerring customers the chance to win the world’s biggest lottery jackpots, arrived in Gibraltar just over 3 years ago and has enjoyed huge success since, attracting nearly 4 million players.

Bookies: Kevin Durant to stay in OKC

Former MVP Kevin Durant has all the reasons to smile these past few weeks.

Despite having no rings and only an NBA Finals appearance belt to brag, Durant remains to be the prized trophy among the more than 100 free agents that most of the teams wants to get their hands on.

He is reported to meet with the Golden State Warriors on Friday morning in Hamptons on Long Island before meeting with meeting with the Los Angeles Clippers later in the day. Durant will also hold meetings with the San Antonio Spurs and the Boston Celtics the following day.

Durant, who has earlier said that he wants to be in a team that will win him a championship right away, will conclude his stay in New York with a meeting with the Miami Heat.

Legal status on the horizon for bitcoin in China

They call it keeping up with the changing times.

Bitcoin is about to go legal in China. According to reports, the Chinese government is planning on having a set of laws that will offer digital currencies such as the popular bitcoin a “legal status” in the country.

The new draft law, released as part of the People’s Republic of China General Principles of Civil Law, aims to consider cryptocurrencies as properties “almost on par with physical and financial assets,” meaning they will be under the scope of the civil rights related to property in general.

Digital currencies don’t have a legal status in China, although experts have been attributing the recent surge in the price of bitcoin to the hearty demand from the Chinese market due to fears of Chinese yuan devaluation. In May, the digital currency to hit $500—a value not seen since September 2014—in two of China’s largest bitcoin exchanges, OKCoin and Huobi, and analysts believe trades involving the yuan account for about 95 percent of the current bitcoin trading volume this year.