Quoteworthy -- "We plan to be very much involved in leading the discussion about online gaming in the United States. I don't think there is much of an alternative to legalizing, taxing and regulating it. I'm sure we will be involved in that. The current administration is very conservative, and I doubt this is going to be an issue they will try to move on. On the other hand, there is only, what three years left {laughs}. I think it has to happen eventually. You and I are both very much aware that what is going on now is the great gold rush. Now, you hear stories of all of those online sites moving all their employees, and all their assets out of the United States so they get over to the U.K. and go public. Eventually, that has got to be perceived as a huge loss in this country."
- Steve Lipscomb, founder of the World Poker Tour and CEO of WPT Enterprises. Limpscomb delivered these remarks in response to the question "Can you find a way to do that (take U.S. bets), and is that a goal?" during an interview with PokerNews.com.
Debt Problems -- British insolvency specialist The Debt Advisor warns that the increasing popularity of online gambling is contributing to the country's consumer debt problem. The company says it is already seeing individuals who have run up debts over £100,000 gambling online and expects to see increasingly more in the future. Spokesperson Bev Budsworth said bettors run up debts much quicker gambling online than gambling via traditional means. "Unlike traditional gambling venues--where there is very much a cash culture--online gaming relies on credit cards," Budsworth explained. "Once you have registered your card details you can play for as long as your credit limit allows without breaking off to get more money. I believe this is why we are seeing such high levels of debt amongst the new wave of online gamblers who are coming to us. It is reminiscent of the mid 1990s when some of the biggest debtors we saw were people who had been speculating on the futures market."
Ladbrokes Bid -- The Times Online reports that Ladbrokes is likely the best candidate to purchase spread betting firm Sporting Index now that the firm's private equity owner, Duke Street Capital, has narrowed the auction of Sporting Index down to Ladbrokes and two private equity firms. Duke Street is working with investment bank NM Rothschild on the auction and is expected to enter into exclusion with one party after the potential buyers update their offers next week. Ladbrokes is thought to have the best advantage because it is in a position to cross-sell its own betting products to Sporting Index punters and to offer Sporting Index products to Ladbrokes customers. Further, Sporting Index's chairman, John Jarvis, was once chairman of Hilton International, which is part of Ladbrokes' parent company, Hilton Group Plc. Ladbrokes dabbled with spread betting products in the '90s but abandoned the plan until just recently when it partnered with Cantor Index to introduce a new fixed-odds betting service called "Ladbrokes Financials."
Two for the Money -- Al Pacino and Matthew McConaughey star as sports handicappers in "Two For the Money," a high-profile movie due out in U.S. theaters on Oct. 7. The trailer features a voiceover of Pacino saying, "Networks don't talk about it, the government can't tax it, but sports betting is a $200 billion a year business." The movie was inspired by a true story.
CYOP Games -- I-gaming software provider CYOP Systems International Inc. has entered into an agreement with Slovakia-based Interkod Technologies Inc. to begin developing online casino games of multiplayer craps, blackjack, roulette and baccarat. CYOP announced in July that it would open a game studio in Central Europe but has decided instead to contract a third party for the development work after further review of the costs and liabilities of operating another foreign subsidiary. CYOP will own games and license them to third-party gaming operators in addition to offering them on its proprietary portals.
China Mobile Payments -- TOM Online Inc., a wireless Internet company in China, has signed a strategic cooperation agreement with UMPAY (Union Mobile Pay Ltd), which is the only authorized mobile payment gateway on China Mobile's platform. The companies will jointly develop and market bank card, debit card and credit card-based mobile payment products and services in China. TOM Online will be the wireless and online payment portal company partner of UMPAY and will work with UMPAY to offer more comprehensive mobile payment products. TOM Online will also leverage its vast online and wireless resources, including its wireless Internet user base of more than 70 million, to help further expand UMPAY's merchant and user bases to accelerate the adoption of the payment service. There is no word yet on whether the service will permit payment transactions for online gambling services, but it is doubtful considering the some of the many policies instituted by the Chinese government to combat not just online gambling but all forms of gambling. . . . China's Ministry of Public Security has urged local police in border areas to stop Chinese citizens from gambling in neighboring countries. Some Casinos in neighboring countries have reportedly re-opened specifically to entertain Chinese gamblers. Many of them closed earlier this year after China initiated a campaign to stop its citizens from gambling with them. Public security departments are now ordered not to issue tourist exit permits to Chinese citizens who are destined for neighboring countries with casinos.
Consumer Mag -- Publishing firm Future Technology plans to launch a digital version of its Online Gambler magazine title for consumers. The magazine launched in March 2005 in England with a print run of 500,000 copies that were distributed as a supplement to the company's male-interest magazines such as PC Format, PC Gamer, PC Zone and T3.
Handicapping Contest -- GWIN Inc., a U.S.-based publicly traded sports handicapping company has announced a contest to find the country's best amateur football handicapper. The contest is sponsored by Hooter's Hotel Casino Las Vegas, sports memorabilia retailer The Field of Dreams Inc., and sports memorabilia Web site starslive365.com. The grand prize winner will win a contract with GWIN's WinningEDGE to become a professional sports handicapper.