Gambling Bill Critics -- Geoff Rayner, chairman of the Public Health Association, has joined a list of other prominent figures who have voiced concerns that Britain's new gambling bill could lead to a rise in problem gambling. According to Rayner, "There are major mental health problems associated with the expansion of gambling." He added, "I do think it flies in the face of the other anti-poverty, pro-public health policies of this government." The Salvation Army has been speaking out against some of the bill's measures for several months already. "All reputable academics and an influential committee of MPs and Lords agree that problem gambling is likely to rise as a result of the extra gambling opportunities available in the Gambling Bill," said Salvation Army spokesman Jonathan Lomax. "Pressure must surely be mounting on Ms. (Culture Secretary Tessa) Jowell to explain why she is one of the only people in the UK who thinks that the numbers of problem gamblers will not rise after gambling liberalization." But Jowell insists the bill takes measures to insure against problem gambling. "What will characterize the modernization of what are widely recognized as outdated gambling laws is not a free-for-all, as has been misleadingly reported, but a very clear obligation on all gambling businesses to act in a socially responsible way," she said. Gambling Minister Lord McIntosh also supports the bill and emphasized the role the new Gambling Commission will play. He said, "The truth of the matter is that casino gambling is, at most, 3 percent of the population of this country. Much more of this 150-page bill is actually increasing the controls on gambling. It is creating a gambling commission with greater powers to keep out crime, to ensure fair play and to protect against problem gambling--to protect vulnerable adults and children."
Will Darren Beadman Jump Off Lonhro? -- In an attempt to call more public attention to its call for a ban on betting exchanges, New South Wales-based Tab Ltd. on Monday ran its first of six advertisements that will run over the next two weeks. The first ad, which appeared in national newspapers on Monday, was an obvious reference to Sean Fox's riding of Ice Horse in Britain last month. It included the message: "Will Darren Beadman Jump Off Lonhro?" followed by, "Ask for a price with Internet betting Exchanges." Just two days prior to the ad's appearance, Beadman and Lonhro were defeated in an upset at the Queen Elizabeth Stakes at Randwick. Beadman is now angry and seeking legal counsel on whether to file suit against Tab. He said, "This is certainly not something a jockey wants to be associated with and I will seek legal advice on the matter. I was never made aware my name would be used in such a way." Mark Davies, communications director for betting exchange Betfair, called the ad "as inaccurate as it is offensive. It suggests that betting Lonhro to lose would only have been possible with an exchange." . . . In somewhat related news, Sportingbet accepted a $5 million wager on Lonhro to win. After being accused of making the story up to generate publicity, Sportingbet released its account ledger to prove the news was legitimate.
Operational Risk Management -- Betfair has licensed Accurate Software's operational risk management system, Accurate NXG, to gain more efficient reconciliation of high volume multi-currency transactions that will create faster transaction processing and reduce operational control risks. Accurate boasts that its NXG product will allow Betfair to achieve 95 percent straight through processing across all transactions. Accurate NXG will also provide Betfair with a complete audit trail of all transactions.
Mobile Trisslotten -- Svenska Spel and Boss Media are putting Trisslotten, Sweden's most popular gambling product, onto mobile networks, allowing players to log on to the same account through their mobile phone or home computer. Mikael Franzén, the head of Svenska Spel's Internet gambling shop, said, "Mobile gambling is the next logical step from computer-based online. Digital distribution methods have enabled us to extend the use of our previous development work. We simply add new distribution channels to the same basic platform."
Quoteworthy -- "Trading in opinions forces you to put your money where your mouth is. People will only trade if they feel they have solid information. If you follow the prices, you follow the money. And if you follow the money, you follow the future."
-- Professor Leighton Vaughan Williams, the director of the Betting Research Unit at Nottingham Trent University. Williams recently provided an explanation to the Telegraph about the nature of future betting exchanges and how they how work.