Asian News -- Jason Chan, executive director of G-Master, the operator of sports betting information site G-win.com, said his company is geared to profit from the legalization of soccer betting in Hong Kong. "Legalizing soccer betting in Hong Kong will definitely create huge demand in sports-related information," Chan said. "Our company has well prepared for this coming market surge. I am confident G-Win.com traffic will reach another new peak possibly breaking into the world's top 1,000 Web site within the next three months." Friday was the first day of legal soccer betting in Hong Kong.
New Stuff -- AngelCiti Entertainment Inc. said it will soon be adding a Chinese-language Internet gambling site to its online betting options. The company is nearing the completion of the translatio-n of its SharkCasino.com into Chinese. "Shares in Chinese Web portals such as China.com and Sina Corp. , which have risen dramatically this year, have given clear indication that the capital markets agree this is a strong direction for AngelCiti to take," said Wilson Lee, AngelCiti's COO.
Thursday, July 31
Tidbit from Asia -- The South China Morning Post reports that critics of the SAR's newly legal soccer betting are asking that betting slips be stamped with a warning label akin to the warning on cigarette packages. Hong Kong's Rehabilitation Centre for Problem Gamblers is suggesting the following phrases to adorn the labels: "Gambling could break up your family," and "Gambling will cause you financial woes." The Christian Coalition Against Soccer Betting is scheduled to presents its argument in favor of the warnings to Home Affairs Secretary Patrick Ho Chi-ping today.
Quoteworthy -- "But for all the grandstanding and moral posturing, the most important question has been absent from the discussion: Would the market have worked? In other words, would it have improved American intelligence capabilities and enhanced national security? All the evidence suggests that it would have. ... We now have more than a decade of empirical results to back up the idea that 'decision markets' can work, in addition to the reams of data on the efficacy of traditional futures markets, such as those for corn or interest rates." -- James Surowiecki, writing in Slate.com, July 30, in an article arguing that the Pentagon's Policy Analysis Market should not have been scrapped.
Wednesday, July 30
Quoteworthy -- "It may sound like nothing more than glorified sports gambling, but many economists believe that such markets can suss out vital, hidden information about future events -- much in the same way that a soaring stock on Wall Street can indicate that good things are afoot for the company in question. That's why the Defense Advanced Research Projects Agency has been funding so much research on the topic, hoping that prediction markets can assist military planners." -- Brendan I. Koerner, writing about the Pentagon's now terminated Policy Analysis Market, in Slate.com on July 29, 2003
Making Deals -- WinWin Gaming Inc. is teaming with Las Vegas From Home.com Entertainment Inc. of Vancouver to create lottery and gaming Web sites to be marketed in countries where online gambling is legal. WinWin Gaming is a Las Vegas company that operates international lotteries and casinos; Las Vegas From Home.com is a publicly traded company whose subsidiary, Action Poker Gaming Inc. , which is based in Antigua, provides online gambling software. "We believe the addition of Internet lottery sites allows us to further expand our international land-based lottery operations and provide a greater range of options to potential customers, particularly in Southeast Asian markets," said Patrick Rogers, president of WinWin.
More Deals -- Poker.com Inc. is entering a letter of intent to sell a skill poker sub-license to Blue Diamond International Capital Inc. of Switzerland. Poker.com is pursuing the deal through its wholly owned subsidiary; Skill Poker.com Inc. Blue Diamond intends to operate the skill poker technology at www.pokervisa.com.
Legal Stuff -- The U.S. Department of Justice is settling its case with the National Council on Problem Gambling. The council, which is the largest provider of informational materials on problem gambling in the United States, was the subject of an antitrust complaint. The DOJ on June 13 had filed a civil antitrust lawsuit against the council stemming from the complaint regarding the council's agreements with state affiliates to ensure that service providers don't compete across state lines. The council did not admit guilt in the final judgment, which requires it to stop the behavior specified in the complaint.
New Stuff -- The Hong Kong mobile phone company CSL is launching an SMS-based cell phone betting service, which will urge Hong Kong citizens to take advantage of the recent legalization of soccer betting. The service offers users odds alerts, soccer news and professional commentaries as well as bet placement.
Oddities -- A Canadian tire retailer is holding a charity on Thursday in which Toronto citizens are invited to make bets on where a cow, while wandering around in field marked up to resemble a roulette board will defecate. The event, sponsored by Dunlop Tires, will raise money for the Ontario 4-H Foundation.
Tuesday, July 29
Making Deals -- IQ-Ludorum plc announced the signing of a new two-year agreement between itself and BetonSports.com. IQ will be supplying BetonSports.com with its IQ-Sportstech call center and online sports book software, which will be used by all of the sports book's operations. BetonSports.com is also picking up IQ's racing software, which allows bettors to wager on thoroughbred, harness and greyhound events. David Carruthers, CEO of BetonSports.com, said his group has worked with IQ for many years and the new contract re-affirms its belief in the software. "The continuous improvement of IQ-L products in terms of performance and features, as well as the degree of telephone and on-site support provided by IQ-L, has allowed us to plan our growth over the next 24 months around this agreement," he said. ... IG Group plc has accepted a £143 million buy-out offer from its management. Stuart Wheeler, the founder of the U.K. spread betting firm, has said he wants to use his share of the buy-out money to redo his 17th century country mansion. His portion of the company amounts to about £34 million.
Quoteworthy -- "Unbelievably stupid." -- U.S. Sen. Byron Dorgan, D-N.D., describing the Pentagon's ill-fated plan to set up a betting market around the idea of future terrorist activity.
Holy Roller -- William Bennett, the conservative Christian author, says he may sue the Las Vegas casinos that let it slip about his massive gambling habits, the Las Vegas Review-Journal reported today. Bennett apparently told television news reporter Tim Russert on CNBC this weekend that the casinos "deliberately damaged" his privacy rights. The newspaper reports that representatives for Park Place Entertainment Corp. (which was recently renamed "Caesars") and MGM Mirage would not comment.
Monday, July 28
Bit from the Netherlands -- Ladbrokes appealed in Dutch appeals court a ruling in favor of De Lotto in February that would make it illegal for foreign betting operators to do business with Dutch citizens. John O'Reilly, the managing director of Ladbrokes' e-gaming unit, said the company believes that the Dutch ruling violates European Union law. "We believe Ladbrokes has the right under EU law to distribute its services freely across borders," he said. The appeals decision is not expected for up to six weeks.
UK News -- Zone4Play announced the launch of three fun-card games on its TwoWayTV channel, which is broadcast on the U.K. cable platforms NTL and Telewest. The card games include black jack, baccarat and video poker. The games are played for points. "These games give a flavor of the most popular card games played on the television using your remote," said Guy Templer, the head of business development for TwoWayTV. "They also neatly complement the challenges and quizzes that the TwoWayTV channel is best known for, giving our players a schedule of games that's always full of surprises."
Legal Stuff -- Israel's Ministry of Finance issued new regulations today that require winnings from gambling and lotteries to be taxed. The amount of tax to be paid is a 25 percent withholding tax. The regulations will go into effect retroactively to July 1, 2003. Individuals who win a prize have seven days to file the correct tax forms.
Holy Roller -- In the Aug. 9 issue of World magazine, William Bennett says that he believes casino gambling to be a sin. Bennett made headlines months ago when it was discovered that conservative family-values author had spent millions gambling in casinos. World, a Christian magazine based in Asheville, N.C., reports Bennett called his gambling a sin because "it was a bad use of time and resources."
Names and Faces -- U.K. bookmaker William Hill is employing the skills of Egon Zehnder, a headhunter, to find a replacement for John Brown, its departing chairman. Brown, who has been with William Hill for an impressive 44 years, will remain at his post until the end of the year. U.K. media are reporting that Barry Gibson, a William Hill board member and the former chief executive of Littlewoods, is a likely candidate for nomination.