South Korean Stats -- Donga.com, a South Korea-based Internet newspaper, reports that four South Korean Internet gambling Web sites-- HanGame, Netmarble, Pmang and Mgame--recorded US$226 million in revenue last year. Most of the income received from the gaming sites comes from the sale of avatars. For example, a player could receive $1 million in cyber money by buying a digital avatar for the actual price of $70. By running operations in this way, Internet gambling providers are circumventing South Korea's anti-gambling regulations.
Kahnawake Query -- The Law Commission of Canada, an independent federal agency that advises the Canadian Parliament on emerging legal issues, has received a report by a team of researchers who are calling for a public inquiry into the country's estimated $13 billion gambling industry. Among one of the report's main concerns is why the Mohawk Indian Tribe in Quebec is permitted to host online gambling operations when Internet gambling remains illegal for the most part in the rest of the country. The report also speculates that Ontario's policy of hiring private American companies to run casinos might violate Canada's Criminal Code. The Law Commission has only now received the report and will not be able to advise Parliament on the issues it presents until at least next year.
Insider Trading -- The U.K. Jockey Club has established a panel of inquiry that will try to determine what constitutes "inside information" and what constitutes a fair or unfair use of that information. The panel will seek perspectives from as many people as possible within the British racing industry, and once it has reached a conclusion on the matter it will consider whether the Rules of Racing must be changed or even if the Home Office would have to be lobbied for changes in the law. The panel is chaired by John Bridgeman, who is also chairman of the Jockey Club's Regulatory Panel. Other panel members include Paul Scotney, the Jockey Club's director of security, Jim McGrath, a Channel 4 racing pundit and director of both the British Horseracing Board and Timeform, Toby Balding, a former trainer, and John Reid and Richard Dunwoody, both of whom are retired jockeys.
Talks Advancing -- Tasmanian Premier Paul Lennon has confirmed that his government is still in negotiations to issue a betting license to British betting exchange Betfair. He stated that negotiations have now advanced to the point that it is necessary to bring the Tasmanian horse racing industry in on the discussions. However, the governments of other Australian states have threatened retaliatory action against Tasmania if it were to license a betting exchange. Such actions could include the loss of Sky Channel coverage of local racing, expulsion from the SuperTAB and the exclusion of Tasmanian horses from competing in other states. Opposition parties are also resisting the licensing of a betting exchange by arguing that there should be no expansion of gambling without an adequate social impact study. Betfair has a joint venture agreement in place with Australian media corporation PBL for any operations that would be based in Australia.