Monthly Archives: November 2020

GVC to rebrand as Entain, exit grey/black gambling markets

UK gambling giant GVC Holdings is undergoing a metamorphosis of both style and substance as it looks to shut the door on its youthful black market escapades.

On Thursday, GVC announced a plan to rebrand as Entain plc “to reflect the Group’s ambition to be the world-leader in sports betting and gaming entertainment.” Frankly, it’s now unclear what the company’s ambition was prior to Thursday, nor why this goal was unachievable under its former corporate identity but, hey, consultants gotta eat too.

While shareholders will be given the chance to weigh in on this rebranding exercise, GVC/Entain also plans to divorce itself from its former grey/black-market reliance. GVC claimed that 96% of its revenue comes from markets that are “nationally regulated or regulating” but the company has set a goal of pushing this to 99% by the end of this year and to derive 100% of revenue from regulated markets “by the end of 2023.”

The ‘or regulating’ qualifier is a big enough ‘but’ that GVC might well have chosen to rebrand as Kardashian Gaming, in that it’s GVC/Entain that gets to define whether a market intends to legalize or simply tolerate certain gambling activities. Regardless, the company maintains that it will exit markets “in which there are currently no viable paths to regulation.”

Juste Puharic Wants Cash Back from Park Lane Club After Gambling £27 Million

Juste Puharic, a businessman from Croatia, is suing the Park Lane Club in London’s Mayfair after gambling £27million/$35 million over the course of five days.

Croatian businessman Juste Puharic is suing the Park Lane Club in Mayfair for not paying him rakeback he believes he’s owed. (Image: TripAdvisor)

Puharic claims the high-end casino offered him a form of rakeback in return for his action. In a case heard by a judge this week, the gambler says he was approached by an employee and offered 0.9% commission on anything he wagered.

Between May 26 and 30, 2015, Puharic wagered £27,057,621/$35,322,923 on roulette. He claims that entitles him to £243,518/$317,993 in rakeback.

Making the case for ongoing KYC: Why the time for change is now

This is a guest contribution by John O’Neill. If you would like to submit a contribution please contact Bill Beatty for submission details. Thank you.

If you work in financial services then you’re already aware that knowing your customer (KYC) is not just an essential process, it is also a legal requirement. It’s part of the essential tasks banks perform to tackle anti-money laundering (AML) and other financial crimes.

Back in June 2017, the European Commission’s Fourth AML Directive set out new rules to help combat money laundering. This was supplemented in January 2020 with the Fifth AML Directive, which aimed to increase transparency about who really owns companies and other financial entities.

Similarly, in May 2018, the US Financial Crimes Enforcement Network (FinCEN) required banks to verify the identity of customers who own, control and profit from companies when they open accounts.

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Short Stack

Good afternon people. I watched a lecture this week in which the author said that when you are under 10BB the ideal is that you go only to All-in. It made me wonder if it’s really just an all-in situation. I would like to know from you: For you, how many BBs do you have to stay short stack and bet only on the All-in? Hugs!

Tournament tip – Micro

Good afternoon people! Today I am going to bring you a PokerStars Sit & Go that I love to play and that I manage to develop my game a lot. The tournament lasts approximately 2h / 2h20min and it is possible to recover, return to the game and all players play very consciously. So I come to share this experience with you. I hope you enjoy it too. Tournament: Sit & Go $ 3.50 NL Hold’em [45 Players] Hugs!

[AA] vs [ITM]

Good afternoon, everyone! I would like to know from you what you would do in the following situation: You are at BB, being the last to answer, and you receive an AA with 5k of chips. The table rotates and the button goes All-in with 10k chips. Knowing that only one player needs to be eliminated to be ITM, would you call and risk leaving without winning anything or will you fold to guarantee a prize? Hugs!