Wager on Sports

May 20th General news ... Wager on Sports was created to assist the sports bettor in properly handicapping .

Wager on Sports was created to assist the sports bettor in properly handicapping .

In order to profit in from a complex game like baseball, the bettor must be as informed as possible on the ever changing statistics and trends.

Latest General News

TATTS TOTE TASMANIA ACQUISITION COMPLETE (Update)
2012-03-28

No reason for celebration for 130 employees whose jobs have been made redundant

In a short media statement, the Tatts Group has confirmed completion of its acquisition of TOTE Tasmania for $103 million (see previous InfoPowa report).

Not good news, however, for 30 percent of the TOTE workforce who have reportedly been displaced in the streamlining of the business.

Australian Premier Lara Giddings said: “Job losses are always regrettable and I am concerned for those people who have lost their jobs through the sale process.

“I am pleased that Tatts has outlined an ongoing strategy that supports two-thirds of TOTE’s employees and supports the continuation of the company’s retail and call-centre and race broadcasting operations in Tasmania."

The Tatts Group will invest $3 million on initial upgrades to the business and a further $5 million on refurbishing TOTE's offices over the next few years.

GIBRALTAR THE VENUE FOR KPMG ONLINE GAMBLING SUMMIT
2012-01-13

The second in the series of executive get-togethers will discuss industry issues and Gibraltar as a jurisdiction

Professional business services provider KPMG Gibraltar has announced that its second eGaming Summit will take place in Gibraltar, focused on once again bringing the industry's major players and service providers together to discuss the jurisdiction’s potential and relevance in the global marketplace.

The Summit will be held on Thursday 19th April at the Caleta Hotel, and key stakeholders and decision makers will be invited to attend. Over 120 delegates attended last year’s Summit, both from Gibraltar and abroad, with interest expected to be even higher this year.

Mike Harvey, director of KPMG Gibraltar, says: “The eGaming sector has continued to show solid growth globally, despite economic uncertainty in the Euro zone and elsewhere. It is essential that Gibraltar remains at the forefront for the licensing and operation of these highly successful businesses, which is why we are running this summit again.

"It represents an opportunity to bring together all of the major stakeholders, both government and private, and to pool knowledge and understanding of the issues that might develop in the year to come.”

The morning session will look at the external factors that are likely to have an impact on the e-gaming community in Gibraltar, including key developments in the US, UK and elsewhere in Europe. In the afternoon speakers and delegates will consider how improvements in the way in which gaming companies provide services can reduce costs and maximise the customer experience.

BETFAIR NAMED IN $3.1 MILLION GAMBLING SLOW-PAY COMPLAINT
2011-08-08

We've paid the money to the processor, says major betting exchange
The UK online gambling group Betfair is again the subject of player scrutiny following allegations that a player may have to wait for over two years to receive winnings of $3.1 million paid out in instalments.
The issue surfaced in a video report at http://www.youtube.com/watch?v=lIFThu-kX5c&feature=player_embedded#at=17 from the respected internet sports betting information site Sports Book Review.com, where Betfair has a top rating.
The video claims that a Russian professional gambler using Betfair had requested payment of $3,5 million in February this year. At that point the player had received only $360 000, although to date, and over a period of five months, a total of $600 000 has apparently been received.
SBR has confirmed through Betfair that the complaint and payment is legitimate, although the betting company appeared to have largely washed its hands of the issue by commenting that it had paid the full amount owed to a [publicly unnamed] payment processor.
When contacted by SBR for an explanation on the slow pay, which could mean a delay of well over two years before the player receives all of his money, the processor cited unspecified laws restricting payments, writing:
"The current laws restrict transactions to up to $20 000 US a week. We have been paying $10 - $20 000 weekly via bank wire (we are trying to transfer larger increments soon) and in addition give him cash."
Contacted with a request for possible alternatives, neither Betfair nor the processor has so far responded to SBR.
The Sports Book Review vid also highlights other problems facing prolific punters at Betfair, namely the controversial imposition of a 60 percent premium charge on big spending pro players in addition to the normal commission, and premium charge "assessments" based on allegations of player fraud.
It is understood that some players legitimately multi-account at Betfair to keep track of their action on different sports, and that there have been instances where the betting exchange has unilaterally linked together several accounts, thus making these liable to the premium charge.
http://forum.sbrforum.com/sportsbooks-industry/1180128-betfair-3-1-million-slow-pay-other-pro-player-issues-video.html?slf=2
Late last year Betfair came in for strong player criticism when it erred on the now infamous 'Happy Hour' promotion. This allowed for unlimited bonus credits provided that players could satisfy the 10X casino rollover. On discovering its error the company discontinued the promo and allegedly reclaimed bonuses it had awarded instead of "eating" the mistake itself.
In one especially notorious case that lit up the player message boards, a Portuguese player claimed that Betfair had been allowed to withdraw over $32 000 he had won on the hapless promo from his bank account...without his consent or any warning.
SBR requested comments from both Betfair and the player's bank at the time, but reported that none was forthcoming. It has been claimed that Youtube vids on that issue were subsequently withdrawn after complaints from Betfair.

FINNISH MONOPOLY DELIVERS GOOD H1 RESULTS
2011-08-01

Online players exceed 100 000 customers
Finland's state-run gambling monopoly Raha-automaattiyhditys (RAY) announced its half year 2011 results, for the period ending June 30 2011, reflecting a 10.5 percent increase in profit compared to the same period last year.
Profits from the company's online gaming operations, launched in November 2010 and powered by Playtech, were "a little under" Euro 14 million with a target of Euro 28 million set for the full year.
The company reports the number of registered online players exceeded 100 000 customers in June 2011.
"The players have received our new game ideas very well", said Janne Peräkylä, Deputy Managing Director, RAY.

VIRTUE FUSION BEST ONLINE BINGO SOFTWARE AWARD
2011-06-03

Voted the best by industry members
Playtech's internet bingo developer Virtue Fusion won Best Online Bingo Software for the third year in a row at the Online Bingo Industry Awards in recognition of its best-of-breed products.
Award winners were determined by votes from over three hundred industry delegates and attendees at the Sixth Online Bingo Summit held at the Victoria Park Plaza in London.
Rob Keown-Boyd, Commercial Director, Virtue Fusion said: “Virtue Fusion’s continued success at the Online Bingo Industry Awards further consolidates our reputation as the leading name in the market.
“It is extremely satisfying to have won this award for the third consecutive year, especially as the votes come from key members of the industry itself. We are pleased that once again our efforts haven’t gone unnoticed by our peers and will continue to build on this success in the year ahead.”

I.G.T. BIDDING FOR ENTRACTION
2011-05-06

Swedish online gambling company could go for $115.3 million
According to a report on the Dow Jones newswire service International Game Technology, which has machine manufacturing and online gambling software interests, has made an offer to purchase the Swedish internet gambling company Entraction for SEK700 million (about $115.3 million).
The board of Entraction has unanimously recommended to shareholders that the offer be accepted, and news of the possible sale pushed the share price up almost 30 percent.
In a statement, the Swedish-based company clarified that the offer is “...conditional upon IGT becoming owner of more than 90 percent of the share capital in Entraction and all necessary regulatory approvals being granted.”
IGT spokesmen said that the deal would be funded from available cash on IGT's balance sheet.
The proposal follows the news last week that IGT has agreed to sell its Barcrest subsidiary to Scientific Games for $54 million (see previous InfoPowa report).
Entraction’s poker network includes sites owned by Victor Chandler and Devilfish Poker, recently acqquired by the Weather Lottery. The network currently has a seven-day average of 1440 cash game players according to the independent online poker monitor PokerScout.
Entractions current financial results have been disappointing, with Q1 2011 profits sinking by almost 22 percent year-on-year to SEK8.1 million; profits declining by 26.5 percent to SEK7.84 million and net sales down 16 percent.

SWEDISH U-TURN ON INTERNET GAMBLING MONOPOLY?
2011-04-27

But licensed operators must take responsibility for the wellbeing of their players
According to a report this week in the English language Swedish newspaper TheLocal.se, the ruling Christian Democrat political party is actively considering a U-turn on its traditional policy of support for the country's state monopoly on internet gambling.
A party spokesman told the Sverige Radio Ekot news program that it may be better to liberalise the Swedish gambling market, enabling suitable foreign companies to apply for licensing and regulation, thus giving Swedish players wider choice.
But spokesman Andreas Carlsson emphasised that: “The most important thing for the Christian Democrats is the responsibility taken (by betting companies) for the gamblers, that they take some social responsibility. This can be lacking if you let in private operators to a market without control and who take no responsibility for those who bet with them.”
The fact that the European Commission has warned against the monopoly held by Svenska Spel, and the changing regulatory trend in Europe may also have had something to do with the change of heart.
"Another motivating factor would be money," TheLocal notes. "If the monopoly were broken, the companies operating in the Swedish market would be forced to pay part of their income to the government, which would represent a potentially huge cash injection.
"Although there are no official figures, it is thought that some one million Swedes use foreign websites for betting, and spend several billion kronor in the process."

MEDIEVAL KNIGHTS IN LATEST RTG SLOT
2011-04-07

'Coat of Arms' is a multi-featured slot
The latest feature-rich online video slot from the RealTime Gaming studios, Coat of Arms, has a medieval theme showcasing knights in armour and their chargers, castle keeps, crowns and colourful shields.
The slot’s features include:
* The Black Knight is Wild on reels 2, 3 and 4, and doubles the prize when he appears in a winning combination.
* 2 or more Scattered White Knights from left to right will trigger a Re-spin Feature, with the remaining reels spinning up to 10 times.
* 15 Free Spins can be won when a bonus Golden Shield appears with symbols on reels 1, 2 and 3, delivering multipiers up to x4.
* A Bonus Crown substitute symbol is also added to reel 3, and accumulating 5 or more Crowns throughout the feature awards extra games.
The Golden Shield feature is especially rewarding; during the first 5 free spins, the rewards are doubled, and during the following 5 free spins, tripled. For the final five spins the rewards are quadrupled. During this feature, a crown symbol is added to reel 3 during the free spins. Each time this appears, the symbol will be shown above the reels. Players who manage to achieve five crowns above the reels earn an additional 5 free spins.
In common with other RTG games, this slot has a major and a minor jackpot, both awarded randomly by the software.