Tag: legislation
The futility of legislation in the Internet age
Betfair recently decided (most likely strategically) to exit the Canada market. This is a downer for North American sports and despite online sports betting being banned in the US, as I have discovered on previous trips there, liquidity is alive and well. I wonder where that could be coming from? I’m half expecting a review from Betfair to announce a Sportbooks will be launched there in the near future đ
No sooner had Betfair announced the exit, than username change …
You think Donald Trump is bad!
There has been lots of discussion about Donald Trump’s rants of a mad man recently. So here are some more: –
A CASINO IN EVERY SMARTPHONE â LAW ENFORCEMENT IMPLICATIONS
https://oversight.house.gov/hearing/a-casino-in-every-smartphone-law-enforcement-implications/
This was the hearing that was called  when the DOJ OLC reversed a long-standing policy by declaring that the Wire Act applied only to sports betting and not all forms of betting. This policy reversal potentially ‘opens the door’ for online gambling in all 50 states.
One sided views…
Mexico 1 – 0 USA
I’ve written about this sort of stuff before on the blog, but given my location at the moment it’s worth visiting it again. I’ve added a video at the bottom to bring home the point a bit more this time.
I would like to trade this week, but I’m going to move location to do it. I’ve shifted out of LA and down the coast to cross the border. It’s only a couple of hours from LA and from San …
Betfair US – California HQ
As you know I’m in la la land at the moment and it’s not the first time I’ve been here. Having worked for a couple of US companies in my time and thanks to my interest in Warren Buffet et al, I’ve often popped over here to do something or another most years since the early 90’s.
When Betfair started taking off in the UK I was quite interested in seeing how legislation would play out over here. To give …
More confusing exchange legislation, this time in Italy
News last week that legislation has been tabled in Italy to legalise the use of Betfair from an exchange perspective. But the legislation looks horrible.
For about two years Betfair have not been accepting new registrations from Italian customers, so an update on legislation has been long awaited. From what I can make out at the moment the Italian exchange will only be open to Italian residents betting on a very restricted range of markets. For example there would be …
US States agree online gambling bills
News this week that first Nevada then New Jersey have agree bills that legalise online gambling. Hurrah I hear you shout!
But wait, what’s this? Read through the detail and you find that actually both bills are a bit restrictive in terms of the fine detail.
In terms of the latter, the bill only allows Atlantic City casino companies to take online bets. Furthermore, the bill will only allow bettors from other states to gamble online, as long as regulators …
Betfair forced to exit Germany
In another blow for international expansion Betfair has been forced to exit Germany.
In July Germany applied a turnover tax of 5% on stakes which Betfair believed wasn’t applicable to it. Betfair confirmed that discussions are continuing with tax authorities regarding the potential tax liability, if any, arising from bets placed on its exchange since the law came into effect.
Betfair is now reviewing its operations in this market. In FY12, approximately 4% of Core Betfair revenue came from Germany …
The folly of protectionist legislation
If there is one certainty about the world, uncertainty. Disruptive moments and technologies have been a way of life since time immemorial, in fact it seems the universe is built on constant change. Without it we wouldn’t be here. Change can be difficult, but only if you don’t embrace it.
As an example, I found an interesting piece on the how the internet has transformed over a decade, have a look: –
https://mashable.com/2012/08/22/the-internet-a-decade-later/
Back when man decided to discard the …
Germany set to backtrack on Gambling laws
Recently the Germany state of Schleswig-Holstein, to much fanfare, announced the licensing of three operators in it’s territory, myBet, Betfair and Nordwest Lotto. Three weeks later, operators Bwin, Bet365, BetAtHome and Tipico were also approved with their gaming licenses.
However the state recently announced a shock decision to return to Germanâs Interstate Gambling Treaty. Ralf Stegner had the following to say according to EGR:
âWe are beginning to clear the minefield in the German gambling legislation left by our predecessors …
Cyprus legislates against Betfair
The Cypriot government announced on Friday legislation that aims to restricts products that gambling operators can offer in the country. Product restrictions included processes that are “designed to facilitate the receipt or acceptance of bets between players”.
Betfair announced this morning that they intended to challenge the decision as “the company believes that the legislation contains serious flaws and, in certain areas, is inconsistent with European Union law. “
Betfair also announced that Cyprus “generated approximately 4% of revenue from …
Connect
Connect with us on the following social media platforms.