This is a guest contribution by Lionel Iruk. An i‐gaming, international wealth management, M&A, principal attorney and manager at Empire Legal. If you would like to submit a contribution please contact Bill Beatty for submission details. Thank you.
In the second of a two part series, Lionel Iruk of Empire Legal discusses various banking destinations for online casinos. If you missed part one, read here.
A. Banking Destinations for online casinos
a) Gibraltar
This is a guest contribution by Lenny Borodin, iGaming and Licensing Executive at Prospectacy LTD. If you would like to submit a contribution please contact Bill Beatty for submission details. Thank you.
There are hundreds of millions URLs our there on the World Wide Web. Yet some of the word combinations are so valuable that they command price tag in the millions. Obviously, with asset being so valuable while still very intangible, there is bound to be perpetrators looking to benefit from properties of unwary owners. Those Internet malefactors are widely known as domain or cyber squatters.
So how specifically do cyber squatters take advantage of high value domains? There are various methods in their arsenal ranging from unethical down to outright illegal. Previously, most common was purchase of expired domains. Business owners would forget to renew their domains only to see them hijacked with help of automated programs tracking expirations. After that, squatters would offer entrepreneurs to buy domains back at premium price. Owners would either have to ante up some serious money or face the hassle of moving business website to a new domain. All the while, squatter would be monetizing the existing traffic via ad displays on snatched domain. To make matters worth, business would be dealt a serious setback in client confidence and retention unless hefty buyback demands are satisfied.
Methods of domain hijacking can get even more illicit once business grew into an established, industry-leading brand. Monetary and reputation losses could be so high that business stakeholders would drop some serious cash to get domain back. To achieve their goal, intruders would go as far as sending out phishing e-mails in order to gain the registrar access information. Having obtained access, squatters would transfer it to different registrar. Once that was done, recovery of domain would be a complicated and lengthy process. Less clandestine but also reputation damaging would be the practices of Trademark Infringement and Bad Faith Registration. In this case, squatter would buy a domain name bearing similarity to established brand or even person. Resemblance is achieved by choosing the same name with different domain extension or very similar domain easily confusing the visitors.
Bitcoin’s unregulated nature is a threat to Kenya’s economic stability, according to the country’s central bank.
The Central Bank of Kenya recently placed advertisements to warn residents against using the popular digital currency, saying that cryptocurrency products like bitcoin is “not legal tender in Kenya and therefore no protection exists in the event that the platform that exchanges or holds the virtual currency fails or go out of business.”
Kenya isn’t the first country to be wary of digital currency. We have Russia, which remains undecided if it wants to criminalize bitcoin-related activities or not. In Kenya’s case, however, the central bank appears to be miffed with the idea that bitcoin are unregulated at the moment—meaning it doesn’t have any jurisdiction over its use in the country.
Well, Kenya could learn a thing or two from its Japanese counterpart.
The estranged wife of casino mogul Steve Wynn has appealed to the Nevada Supreme Court to shield her against a possible backlash over her statements on her ex-husband’s alleged securities law violations.
Fearing her ex-husband’s retaliation, Elaine Wynn asked high tribunal to grant her petition for a whistle-blower protection after a Las Vegas trial judge junked her plea. The case, which was filed on Thursday, was recorded as Elaine Wynn v. Eighth Judicial District Court, 71432, Nevada Supreme Court.
Bloomberg reported that Elaine’s concern stemmed from the disclosures she made to Wynn Resorts Ltd.’s audit committee and outside auditor Ernst &Young on what she said were potential securities law violations by the casino operator.
Wynn’s estranged wife, however, did not go into details on what potential violations she believes occurred.
British bookmaker Sky Betting & Gaming is eyeing international expansion next year to further boost its revenues and support the solid revenue growth it posted in UK.
The Financial Times reported that the firm, which runs SkyBet online gambling site, is keen on expanding in Germany and Italy, especially after it took over Sky Deutschland and Sky Italia from 21st Century Fox in 2014.
According to Skybet, the acquisition of both media companies in Germany and Italy have paved the way for the bookmaker to break out of the British market for the first time.
SkyBet Chief Executive Officer Richard Flint said the company has already begun testing the sports betting website in Germany and Italy to a small group of customers and, at the same time, has hired staff in the said countries.
The estranged wife of casino mogul Steve Wynn has appealed to the Nevada Supreme Court to shield her against a possible backlash over her statements on her ex-husband’s alleged securities law violations.
Fearing her ex-husband’s retaliation, Elaine Wynn asked high tribunal to grant her petition for a whistle-blower protection after a Las Vegas trial judge junked her plea. The case, which was filed on Thursday, was recorded as Elaine Wynn v. Eighth Judicial District Court, 71432, Nevada Supreme Court.
Bloomberg reported that Elaine’s concern stemmed from the disclosures she made to Wynn Resorts Ltd.’s audit committee and outside auditor Ernst &Young on what she said were potential securities law violations by the casino operator.
Wynn’s estranged wife, however, did not go into details on what potential violations she believes occurred.
British bookmaker Sky Betting & Gaming is eyeing international expansion next year to further boost its revenues and support the solid revenue growth it posted in UK.
The Financial Times reported that the firm, which runs SkyBet online gambling site, is keen on expanding in Germany and Italy, especially after it took over Sky Deutschland and Sky Italia from 21st Century Fox in 2014.
According to Skybet, the acquisition of both media companies in Germany and Italy have paved the way for the bookmaker to break out of the British market for the first time.
SkyBet Chief Executive Officer Richard Flint said the company has already begun testing the sports betting website in Germany and Italy to a small group of customers and, at the same time, has hired staff in the said countries.
Longtime owner,breeder, attorney, and civic leader John (Jack) DeMeo died Oct. 6 at his home in Santa Rosa, Calif. He was 82.
Mississippi voters approved a state lottery back in 1992, but the Legislature never followed up and has voted down all of the dozens of bills introduced to legalize the lottery. Meanwhile, every time a Powerball jackpot grows to life-altering levels, Mississippians pour across the state line to buy tickets.Financials, Starting a Lottery, Mississippi, Government
Important dialogues about the most recent normative concerning the Italian gaming market and the trade´s new trends have been hold during ENADA Rome show.
The entire scenario of the Italian gaming and amusement world has been showcased in Rome, from all the new products, to the technologies and to the services from the most important Italian and foreign companies, useful for updating trade members’ knowledge: all the equipment, including technologies, payment systems, furnishings and services.
Additionally, BtoBet’s representatives at Enada noticed a complete range of proposals regarding online and mobile gaming offered by Web licensees.
What’ s happening at the Gaming industry in Italy?
A review of the action in the European qualification rounds of the 2018 FIFA World Cup including victories for the favourites Germany; European Champions Portugal, and a winning start for Gareth Southgate at Wembley.
Germany is still the +500 favourite to successfully defend the FIFA World Cup after brushing the Czech Republic aside on Saturday. The Real Madrid midfielder Toni Kroos squeezing a goal between a brace from Thomas Muller to lead Group C with two wins out of two, after a 3-0 home win.
It’s early days, but Azerbaijan has become the unlikeliest of Group C challengers after also winning their first two games. The side ranked 133rd in the world followed up their opening day victory away in San Marino with a 1-0 win at home to Norway. The Norwegians have now lost both of their opening games, as have the microstate.
Northern Ireland is the only other unbeaten side in Group C. Michael O’Neill’s green army drew against the Czech Republic in their opening game and beat San Marino 4-0 on the weekend to take third in the group with four points. Northern Ireland travels to Hannover on Tuesday to face the reigning champions. Germany beat Northern Ireland 1-0 at the Euro 2016 finals.
Jackie Glazier has signed a two-year contract to represent partypoker, and her former employers 888Poker has picked up the former German TV presenter of the European Poker Tour, Natalie Hof.
Partypoker continue their recent trend of investing in player sponsorships deals with the signing of the World Series of Poker (WSOP) bracelet winner Jackie Glazier.
Glazier has earned $1.3m in live tournament earnings. Her finest moments on the live felt include a runner-up finish to Greg Ostrander in a $3,000 No-Limit Hold’em event at the 2012 World Series of Poker (WSOP), a 31st place finish in the Main Event the following year, coupled with her bracelet win at the World Series of Poker Europe (WSOPE) Ladies Event in Cannes.
We are delighted to announce that @JackieGlazier has joined the team as a brand ambassador. Welcome aboard, Jackie! https://t.co/1gB7Vw1vKj pic.twitter.com/Hf5EnpDiJk
Herbert Bloodstock, Richard Leggio, and Peter Peluso’s Gloryzapper earned her first graded win Oct. 9 with a game effort in the $100,000 L.A. Woman Stakes (gr. III) at Santa Anita Park.
CalvinAyre.com brings you the BAC 2016 promo video happening on October 20-23 2016 in Berlin.
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Live Oak Plantation’s homebred Golden Hawk remained undefeated in two starts and completed a sweep of Woodbine’s 2-year-old stakes this weekend for trainer Mark Casse with a win in the Grey Stakes (Can-III) Oct. 9.
Gary Barber’s Keep Quiet rallied strongly down the inside and held off fast-finishing favorite Ticonderoga to win the $250,000 Dixiana Bourbon Stakes (gr. IIIT) for 2-year-olds Oct. 9 at Keeneland.
Grayson Farm’s homebred I’m a Chatterbox did what she was supposed to do Oct. 9 in the $500,000 Juddmonte Spinster (gr. I) at Keeneland.
Lady Eli’s emerged in good order from her Oct. 9 victory in Belmont Park’s Flower Bowl (gr. IT), the second start of her comeback from a long absence, in which she clinched a spot in the Breeders’ Cup Filly and Mare Turf (gr. I).
Jockey Rafael Hernandez guided in the 2,000th winner of his career Oct. 8 when Sean and Dorothy Fitzhenry’s homebred Guy Caballero won Woodbine’s seventh race.
Jockey Rafael Hernandez guided in the 2,000th winner of his career Oct. 8 when Sean and Dorothy Fitzhenry’s homebred Guy Caballero won Woodbine’s seventh race.