IFX White Label -- Finspreads, the financial spread betting unit of U.K.-based IFX Group, has signed an agreement to provide a white-label financial spread betting platform to online financial services provider Interactive Investor, whose 1.4 million customers will gain access to the Finspread telephone and Internet spread betting services. Shares in IFX last week reached their highest level since April 2004, prompting some analysts to speculate that the company is considering an IPO. Others believe the company might soon be taken over by a rival.
Gambling Education -- The Powerhouse Museum in Sydney has created a new educational Web site for children called "Gambling: calculating the risks." Financed by the Juniper's Casino Community Benefit Fund, the site aims to explain how the underlying mathematical principles of gambling games always favor the house as well as convey the economic and social costs of gambling. Visitors can play one round of roulette, lotto, poker machines or instant scratchies for free, but if they lose they must correctly answer a mathematical question related to gambling before they may play the game again. For example, one multiple-choice question is: Australians gambled a total of $90 billion on poker machines last year. This was an increase of 6 percent on the previous year. How much was gambled (to the nearest $billionth) on poker machines in the previous year? Helen Whitty, the museum's coordinator of education services stated, "We were very conscious from the start about [potential criticism] that we might be training young gamblers. But like drug and sex education, it's a question of 'Do you ignore it because just by exposure you'll be seen to be encouraging it or do you address it?'" The first round of criticism of the site has come from Gerard Byre, the Salvation Army's eastern territory coordinator for drug, alcohol and problem gambling services, who said, "Children can log on to practice, build up their gambling skills and feel the excitement of playing the odds. The next logical step is gambling for real."
Easibet Shop -- Easibet, the Edinburgh betting shop with computer terminals tied into Betfair's betting exchange network, has been closed for the past few days because of a dispute between Betfair and the shop's owner, Henry Spurway, over commissions. Betfair believes it should only pay Easibet the commission earned from new punters that were first attracted to Betfair through the Easibet shop, while Spurway contends that his shop deserves commission earned from all customers who use Easibet's facilities. Spurway says he will challenge Betfair in court if the dispute continues much longer. Meanwhile, he is also engaged in discussions to sell the shop to two bookmakers.
Youbet's Intent -- Youbet.com, the largest provider of horse racing content and wagering in the United States, has entered into a letter of intent to acquire International Racing Group (IRG), a licensed and regulated pari-mutuel account wagering company based in Curacao. IRG accepts telephone wagers only, predominantly from high-volume customers. The company has contractual agreements with over 90 thoroughbred, harness and greyhound tracks for which it accepts wagers. It received $140 million in handle in 2003 and $210 million in 2004.
G4 and eCOGRA -- eCOGRA (eCommerce and Online Gaming Regulation and Assurance) has teamed up with the Global Gambling Guidance Group (G4) to create a set of policies and procedures to protect against underage and problem gambling. According to eCOGRA CEO Andrew Beveridge, "The top online casinos regulated by eCOGRA have all made in-house responsible gambling provision as part of their operational structures, and we will beef up this vital function through a partnership with the respected and professional G4 organization." The online casinos and poker rooms that have obtained eCOGRA's seal of approval will be required to implement the new policies as part of their generally accepted practices.
Paddy Power Poker -- Irish bookmaker Paddy Power has launched "Paddy Power Poker" using software from Tribeca Tables Europe. Paddy Power players will be funneled into the same poker network as players from Blue Square, Victor Chandler, Golden Palace and Doyle's Room.
GexTech -- Gex Technology, a Barcelona-based firm that's part of the Paque Jungla group of companies, announced that it has developed an interactive gaming platform that enables operators to offer services across mobile phones, interactive TV and the Internet. "Security underpins the design of all components," the company's CEO said. "The platform uses the most advanced firewall and intruder-detection technologies; all servers are fully hardened; advanced authentication and authorization technologies are used and communications are secured using GexTech's powerful encryption technology."