Peace at Last? -- Two of Europe's largest bookmakers, France's Pari-Mutuel Urbaine (PMU) and England's Ladbrokes , have finalized a one-year deal allowing customers of Ladbrokes to bet directly into PMU pools. The agreement makes partners out of foes with a longstanding legal battle over Ladbrokes' designs on targeting the French betting market, but Louis Romanet, director-general of France Galop, was quick to point out that PMU hasn't softened its stance on what it considers unauthorized bookmaking. "[The partnership] doesn't mean we will give up the fight to defend our rights, but there is now a possibility for an agreement between people who did not agree before," Louis Romanet explained. "We want to create a context where this sort of deal can grow and develop, and be taken up around the world as a good example, against the bad example of betting without any authorization." PMU will receive a cut of Ladbrokes' turnover that is believed to be around 3 percent.
Student Gambling on the Rise -- A Harvard study found that 4.67 percent of young people have a gambling problem, citing that 42 percent of college students surveyed said they gamble primarily to make money. Recent research has also shown that college students are more likely to develop a gambling addiction. Pathological gambling, as it is sometimes called, occurs in 1 to 2 percent of the adult population in the United States, while the rates climb to 4 to 8 percent for college students.
Antigua Talks -- Six legislators from North Dakota have arrived in Antigua for four days of meetings with government officials. Discussion topics will include Internet gaming and the development of a corresponding banking relationship with the Bank of North Dakota, the only state-owned bank in the United States managed by the legislators. Minister of Finance and the Economy Dr. Errol Cort has spearheaded the nation's efforts in the World Trade Organization against the United States over Internet gaming. He said this week's talks are very important because the success of the Internet gaming industry is largely dependent on finding corresponding banks that will do business with Internet gaming companies.
Mobile Bingo -- The Mobile Media Company, a producer and global distributor of branded, made-for-mobile entertainment, interactive TV formats and mobile marketing concepts, is partnering with Internet gaming software provider World Entertainment Corp. to distribute bingo-related mobile entertainment and information services, including alerts, promotions, sweepstakes, contests, quizzes, surveys, ring tones, mobile screen savers and wallpapers, games, mobile coupons, members-only clubs, comment lines, announcements and chats. The service will be available to the majority of subscribers across North America.
Poker Radio -- The latest arrival in the increasingly crowded world of poker content is a new venture that has proclaimed itself "the world's first 24/7 Internet poker radio station." VC Poker Radio went live this week with its lineup of music, poker news and features--including exclusive interviews with well known players--and is reporting that it's already reaching thousands of Web surfers. The station also offers tutorials, gossip and daily competitions offering cash prizes, with phone-in and comment shows soon to come.
London Card Room Opening -- The Fox Poker Club has applied to the newly assembled U.K. Gambling Commission for a license that would make it London's first fully licensed card room. A dedicated "Platinum Room," with full TV studio facilities, available to platinum members and their guests will host high-stakes no-limit cash games and will be the location of the final table for major tournaments. Members will be able to watch the games live from the bar and lounge area on state-of-the-art flat-screen televisions. Membership is limited; those interested in joining are encouraged to express their interest in a pre-registration form on the club's Web site at www.foxpokerclub.com.
Betfair's Defense -- Online betting exchange Betfair is standing behind the quality of evidence it gave to an inquiry into illegal betting on its Web site. A Hobart bookmaker was cleared on Wednesday of using the U.K.-licensed Internet exchange to place bets during a harness racing meeting at Glenorchy in August. Betfair says it provided Racing Tasmania with a list of all bets on the night in question; however, it had to replace gamblers' names with customer numbers to protect their identities under privacy laws. Betfair for months has been seeking approval to operate in Tasmania, and the company's director of corporate affairs, Andrew Twaits, says they would be happy to reveal customers' names to regulators if such disclosure was required under the terms of a Tasmanian license. Twaits acknowledged that Betfair's evidence may have gone further under a police inquiry. "If the police had had the power under legislation to compel us to provide that information, yes, we would have provided it, and as I said, we're very happy to be subject to those sorts of controls," he said.
IOU -- The Guardian reports that former financial adviser Graham Price, 58, has admitted to stealing £7 million from the Halifax Bank in Gowerton, near Swansea, South Wales. He did, however, leave a signed IOU in the safe that said "Borrowed £7 million from the Halifax." Price stole the money to bankroll an unsuccessful gambling habit and had pocketed another £3 million from private clients. He faces prison after admitting 43 counts of theft and deception, as well as 263 other offenses to be taken into consideration.