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Online Gambling: The Fastest Growing Industry in The European Union

Online Gambling The Fastest Growing Industry in The European Union Online Gambling: The Fastest Growing Industry in The European UnionNot only is online gambling the fastest growing industry in the European Union, but the U.K. represents a significant part of this new industry. For this reason, the Gambling Business Group (CalvinAyre reports) has been created to be “the voice” of the online gambling industry within the U.K.

The Gambling Business Group consists of 50 members who are key players within the gambling industry—this includes representatives from casinos, Bingo, Pub, FEC, and AGC.

Peter Hannibal is the Chief Executive Officer, and Nick Harding is the Chairman.

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Lawmakers Cracking Down on Bank Fraud Tied to Online, Mobile Gambling

The GOP Cracking Down On Bank Fraud 300x187 Lawmakers Cracking Down on Bank Fraud Tied to Online, Mobile GamblingThe Justice Department has launched a federal investigation, researching consumer bank fraud in regard to many banks and payment firms turning a blind eye to unauthorized transactions.

It goes without saying that consumers rely on banks and payment firms to put safeguards in place to identify illegally withdrawn funds. But in the case of payday lenders, online casinos, and gun dealers many banks are ignoring their safeguards for their own financial gain.

The investigation is titled “Operation Choke Point” and it comes in response to a high volume of complaints of bank fraud and funds begin withdrawn without permission, Pymnts.com reports.

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Churchill Downs Still Vying for a Spot in the World of Online Gambling

Churchill Downs Still Vying For A Spot In The World Of Online Gambling 300x300 Churchill Downs Still Vying for a Spot in the World of Online GamblingChurchill Downs invested $2.5 million into NLR Entertainment, owned by Nicholas Ribis, with the expectation that he would purchase the Showboat casino in Atlantic City. It goes without saying that the $2.5 million investment would have secured Churchill Downs a spot in the online casino world.

Aside from the investment to NLR Entertainment, Churchill Downs spent an additional $10 million developing the systems they required to receive online casino bets. This included bringing on an additional 50 employees to develop the software and gambling system. However Ribis did not purchase the Showboat casino as expected— and the two parties are now in an ongoing lawsuit.

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Cost Cutting Efforts Ahead for Online Gambling’s Bwin

Cost Cutting Efforts Ahead for Online Gamblings Bwin 300x115 Cost Cutting Efforts Ahead for Online Gamblings BwinMicrosoft isn’t the only company finding itself compelled to move forward with cost cutting measures this week. One of online gambling’s biggest names is feeling the same pain.

Reuters is reporting that online gambling company Bwin.Party, is “under pressure” to cut costs.

“Bwin said last month it was looking at ways of boosting shareholder value but denied a report it was considering a break-up or sale of its business,” the report notes.
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A Risky Move In Hopes Of a Major Surge In Legalized Online Gambling

A Risky Move In Hopes Of a Major Surge In Legalized Online Gambling 300x265 A Risky Move In Hopes Of a Major Surge In Legalized Online Gambling David Baazov of Amaya Gaming Group, Inc. has just made a risky move with his $4.9 million acquisition of online gambling sites PokerStars and Full Tilt. The 33-year-old Canadian has been supplying his software and technology to the online gambling industry for years. And now he wants a bigger slice of the pie.

Currently only 3 states in the US have legalized online gambling, but several more are giving it serious consideration. Although the vast earnings potential is there, Baazov has taken a huge risk by acquiring such significant debt.

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Online Poker Expected To Return In Russia

Online Poker Expected To Return In Russia 300x186 Online Poker Expected To Return In RussiaIn 2007 the Sports Ministry in Russia registered poker as a “sport,” but in 2009 removed poker from the registry because poker clubs began taking advantage of the newly dubbed sport by operating illegal casinos.

This included a ban online poker.

However, after careful consideration, Russia is now thinking about lifting the ban on online poker due to the estimated 5 billion rubles ($146 million) it stands to generate annually in taxes. These taxes would be generated both from the online casinos, and from the winnings that players are paid out.

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Online Poker Makes Its Way To The Utah Border

Online Poker Makes Its Way To The Utah Border 300x191 Online Poker Makes Its Way To The Utah BorderIt’s no surprise that Nevada proved an early pioneer in legalized online gambling, as it is already the undisputed gambling capital of the country. Since 2013, provisions have been made in regard to intrastate gambling, and Peppermill Resort in Northern Nevada decided to be the first to offer online poker along the state’s border.

They partnered with Las Vegas-based Ultimate Poker and allow Utah residents to visit 5 of their hotels along Interstate 80 near to make live deposits, which then allow them to play online poker with the money they have deposited, even when they return to Utah. The key, however, is that they must deposit funds in Nevada prior to playing online in Utah—and once they run out of online funds, they must return to Nevada to deposit more in order to continue playing online.

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Online Gambling Not Catching On As Quickly As Predicted

Online Gambling Not Catching On As Quickly As Predicted 300x199 Online Gambling Not Catching On As Quickly As PredictedMany believed that 2014 would be the year that many states across the nation would finally adopt some form of legalized online gambling. With the first three states of Delaware, New Jersey, and Nevada hopping on the bandwagon as quickly as they could get all of their ducks in a row last year, many predicted a domino effect of sorts for this year.

Well, those folks are still waiting. So what happened exactly?

There are several things that have delayed the 7 or so states who are seriously considering legalizing online gambling. While many states see the earnings potential in gambling taxes to be quite impressive, others prefer to wait and see how Delaware, Nevada, and New Jersey work out kinks in regulation and consumer adoption.

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Macu Struggling to Outdo Vegas Once Again and Marketing is to Blame

Macu Struggling to Outdo Vegas Once Again and Marketing is to Blame 300x199 Macu Struggling to Outdo Vegas Once Again and Marketing is to BlameIn 2006, the Macu Gaming Inspection Bureau announced that Macu beat out Las Vegas as a gambling touring destination. Many thought this was the sign of more years to come, but gambling in Macu has been on the decline. The primary reason for this decline is China’s prohibition against promoting gambling that makes it challenging to reach Macu’s target audience.

This leaves casinos attempting to advertise their casinos… without actually mentioning their casinos. Not an easy task.

Any casino in the world has to work hard to differentiate itself and most do so by promoting the perks they offer gamblers. This includes VIP programs, rewards and points programs, and other free perks. However, Macu casinos have to rely on attracting tourist via their “non-gambling” amenities in hopes they will be inspired to travel to the area and gamble in their casino.

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Reality TV Meets The World Of Online Gambling

Reality TV Meets The World Of Online Gambling Reality TV Meets The World Of Online GamblingWhile there are censorship laws that restrict what type of commercial advertising can be aired when it comes to live or online gambling, U.K. TV broadcaster Channel 5 was recently allowed an exception to traditional censorship, Gaming Intelligence reports.

Reality TV show “My Spiral into Debt Hell” features individuals who are experiencing extreme problems with debt. In a recent episode, they featured an online gambler who ran up so much gambling debt that he lost everything—his home, his job, and his family.

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