Sporting Index hires Thomson Reuters exec

first_img KCS-content Share whatsapp SPORTS spread betting firm Sporting Index Group has hired former Thomson Reuters senior executive Mark Redwood as its non-executive chairman.Redwood, 50, led Thomson Reuters’ sales and trading activities until stepping down at the end of December. He replaces Richard Glynn, who left in 2010.The Sporting Index Group, backed by private equity investor HgCapital, said hiring Redwood was further evidence of ambitions for its Sporting Solutions brand, which supplies in-play betting odds to international betting and gaming operators. Bookmakers such as William Hill, PartyGaming, the Tote and Skybet subscribe to the service. Warren Murphy, Sporting Index Group’s chief executive, said: “We believe the sports betting landscape is rapidly changing and is mirroring the way the financial data services industry has evolved. We deliberately sought to bring in someone with a strong financial technology background. whatsapp Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULL Sunday 9 January 2011 10:54 pm Sporting Index hires Thomson Reuters exec last_img read more

Permira and Axa plan a joint bid to buy Opodo

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads KCS-content Sunday 23 January 2011 10:58 pm Permira and Axa plan a joint bid to buy Opodo More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapp Tags: NULLcenter_img whatsapp Show Comments ▼ Share PERMIRA and Axa Private Equity are planning to make a joint €500m (£425.5m) bid for Opodo tomorrow, as they seek to compete against US internet travel giants Expedia and Orbitz.However the two private equity groups are likely to face bidding competition from their US rival Carlyle, according to the Financial Times. The newspaper added that people familiar with the auction believe Permira an Axa are favourites.Before joining forces to bid for Opodo, Permira and Axa had been competing head-to-head to acquire mid-sized European internet travel agencies. Last year Axa outbid Permira to buy Go Voyages. Conversely Permira beat Axa in the fight to buy the Barcelona-based online travel group eDreams.But after teaming up, the two groups reportedly plan to buy Opodo, which is being sold by Amadeus IT Holding, and combine it with eDreams and Go Voyages to create a European travel behemoth.Opodo accounts for just four per cent of Amadeus’ total revenue. last_img read more

HELPING THE CITY THINK OUTSIDE OF THE BOX

first_img Share WHAT does a FTSE 250 chairman do when he’s not scrutinising business plans and keeping shareholders happy? Well if you’re John Pluthero, chair of Cable & Wireless (below right), then the answer is you launch an initiative to challenge accepted ideas surrounding abstract art, of course.Building on his long-held interest (and collection) in post-war British abstract painting, Pluthero has created AbstractCritical with sculptor Robin Greenwood – a series of discussions and exhibitions that aims to “establish a new critical context for all generations of abstract artists”. The initiative’s first showcase, High-abstract, will be shown at the Poussin Gallery from Friday, featuring works by contemporary artists Alan Davie, John Hoyland and Fred Pollock – all names that might not trip off the tongue of your average telecoms chief.BRING YOUR OWN EARSFor anyone whose mouth is already watering at the prospect of a Playboy Club opening in London, the arrival of a head chef that’s worked for Gordon Ramsey is another reason to be cheerful. But Judy Joo (above right), who’ll be head chef when the club opens this summer, started her career very differently – in derivatives sales at Morgan Stanley. Joo spent four years with the bank in the US before giving it all up to retrain as a chef. At the members-only dining room Joo will create classic American dishes – though rabbit is strictly off the menu. Luckily her banking background means she should feel right at home among the club’s most famous employees, the bunny girls, for whom a sharp mathematical brain is apparently a must. According to a recent advertisement for the iconic hostess role “Bunny Dealers need mental-arithmetic abilities comparable to a city broker”.HORKING 9 TO 5Do you want to be a horker? Apparently if you’re keen to improve your work-life balance (and who isn’t) that’s exactly what you should aspire to. At least according to Nectar Business, which coined the phrase in a press release that landed in The Capitalist’s inbox. For horking, far from being a unpleasant bodily function as onomatopoeia might suggest, is a contraction of home-working – or working from home as it’s been called for many years. According to research, 46 per cent of people said they work from home more regularly now than three years ago – but what exactly do horkers get up to? For an image-focused 10 per cent of men, horking means working from home in full office wear, while an unsurprising 45 per cent cited the lack of commute as the biggest perk. But most disturbingly, 27 per cent of senior management horkers surveyed admitted to having taken a business call in the bath or shower. Brings a whole new meaning to the idea of multitasking.A WEAK CONNECTIONIf Vince Cable is worried he’s being pushed out of the public eye after embarrassing “war on Murdoch” comments last year, a communications mishap won’t do much to comfort him. After Project Merlin was announced yesterday, the twittersphere was alight with people wondering why Cable’s official response was sent from his press officer’s hotmail address. Apparently the BIS mail server happened to crash at the crucial moment… whatsapp Show Comments ▼ Wednesday 9 February 2011 7:58 pm HELPING THE CITY THINK OUTSIDE OF THE BOX KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm whatsapp Tags: NULLlast_img read more

London’s success means the government is ignoring it

first_img whatsapp London’s success means the government is ignoring it Show Comments ▼ whatsapp IS London too successful for its own good?” What a thought! Like the Mayor, I have always believed it possible to have your cake and eat it. A report out last week from Citigroup proclaimed an ever more successful future for London – predicting that its economy would grow more than any other city in the world over the next 15 years.There are strong reasons to invest here, but we should not forget about a grimmer reality: London is two cities. We may be the economic capital of Britain, but we are also the poverty capital. From the streets of Lambeth or Newham, the success of the glitzy centre can seem hopelessly irrelevant.The government might worry about unemployment in Scotland, Wales and Northern Ireland, but actually the unemployment rate in London is higher. Joblessness is higher in Hackney than it is in Liverpool. London’s youth unemployment, at 23 per cent, is far higher than the national average of 18 per cent. London has the highest rate of severe child poverty in the UK; over half the top twenty boroughs with severe poverty in the UK are in London.Relieving poverty and unemployment drives a lot of what the Mayor does, including the campaign for more apprenticeships, work experience, our promotion of the London Living Wage, and support for concessionary transport fares. It is why we are lobbying government to ensure welfare reforms take account of London issues.But the problems of poverty and unemployment in London should also be borne in mind by national policymakers. There is a strain of thought that London is strong enough to look after itself, that all government help should be targeted at the North. The government’s tax break for start ups only applies to entrepreneurs outside London and the South East (despite the fact that more small companies fail in London than elsewhere); there are those who believe that London should be excluded from bids to the Regional Growth Fund. London businesses are successful, but every single penny of tax they pay – including business rates, income tax, national insurance, VAT, corporation tax and stamp duty – goes to the national government. Only the national government can use that fiscal bonanza to help reduce deprivation in the capital. We are confident that the strengths of London will ensure that its economy has a bright future. But we have to make sure that all Londoners have a stake in that success. No Londoner should be left behind. Anthony Browne is an adviser to the Mayor of London Share KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Tags: NULL Wednesday 2 March 2011 8:36 pmlast_img read more

Mortgage lending falls in January

first_img whatsapp Show Comments ▼ alison.lock Friday 11 March 2011 8:31 am whatsapp Mortgage lending falls in January Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap UK mortgage lending fell 29 per cent in January from December’s level, new data has shown.Just 28,500 loans were extended to property buyers, a fall of 12 per cent on January 2010, a report from the Council of Mortgage Lenders found.The fall is being attributed to “an unusual combination of factors” including public sector spending cuts, bad weather and higher inflation.The CML said the fall was greater than could be explained by seasonal factors alone.Howard Archer, chief economist 
at Global Insight, said the data “indicates that the housing market started 2011 on the back foot and supports our belief that house prices are headed down further over the coming months.”“We expect house prices to fall by around five per cent in 2011 and ultimately decline by around ten per cent from their peak 2010 levels,” he said.The drop in lending was balanced evenly between first-time and regular buyers, though experts said the loan-to-value level also rose, giving first-time buyers a better buying opportunity.“Affordability for first-time buyers is improving. The average LTV has risen to its highest level in more than two years and mortgage repayments represented the smallest proportion of first-timers’ incomes since January 2004,” said David Newnes, estate agency managing director of LSL property services. Brian Murphy, head of lending at broker Mortgage Advice Bureau, said the fall reflected a normal pre-Christmas slowdown as well as low consumer confidence and extreme weather. “All three factors caused a reduction in applications in late 2010, which resulted in the fall in actual loan advances during the first month of the year,” he said.“February, by contrast, proved far more buoyant. Activity overall witnessed a marked increase in February over January both among house buyers and those looking to refinance existing arrangements.” Tags: NULLlast_img read more

Moody’s downgrades Ireland by two notches

first_img whatsapp Friday 15 April 2011 3:34 am John Dunne Tags: NULL Show Comments ▼ Moody’s cut Ireland’s sovereign rating by two notches to the verge of junk status and kept its outlook on negative, pushing the euro lower and adding to renewed pressure on the euro zone’s weaker countries.The downgrade cut short a rare spell of good news for debt-ridden Ireland after the government said on Thursday it had passed a review of its economic progress by creditors and ratings agency Fitch upgraded its outlook.The move also followed a soaring of Greek borrowing costs to new highs on Thursday after Germany said for the first time that Athens may have to restructure its huge public debt, turning up the heat on fellow strugglers Ireland and Portugal.Moody’s said Ireland’s growing debt burden was expected to be high by EU standards and that weak economic growth prospects together with the expected decline of the government’s financial strength threatened its ability to manage debt as it has done in the past.“Should the intended fiscal consolidation goals not be met, a further rating downgrade would likely follow,” Moody’s said. “Moreover, a further deterioration in the country’s economic outlook would also exert downward pressure on the rating.”Moody’s said the downgrade to BAA3 from BAA1 – which puts its rating two notches below both Fitch and Standard and Poor’s – was also due to uncertainty around solvency tests required by the European Stabilization Mechanism (ESM).It said the country may need to take further austerity measures to meet its fiscal goals and that its financial position may suffer as a result of rises in European Central Bank interest rates.It added, however, that upward pressures could also develop on the rating and that Ireland’s long-term potential growth prospects remain higher than those of many other advanced nations.The euro fell to a session low against the dollar after the ratings cut, falling as low as $1.4451, down 0.2 per cent on the day, and moving further away from its 15-month high around $1.4521 hit earlier this week. Moody’s downgrades Ireland by two notches Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap whatsapplast_img read more

NH Lottery vendor blasts DOJ over Wire Act ‘charade’

first_img Regions: US New Hampshire Subscribe to the iGaming newsletter NH Lottery vendor blasts DOJ over Wire Act ‘charade’ Email Address 3rd May 2019 | By contenteditor NeoPollard Interactive, the vendor for the New Hampshire Lottery, has hit out at the Department of Justice (DOJ) for its uncertainty over whether the Wire Act applies to interstate and online lotteries, calling for the “charade to end”.center_img Legal & compliance NeoPollard Interactive, the vendor for the New Hampshire Lottery, has hit out at the Department of Justice (DOJ) over its uncertainty as to whether the Wire Act applies to interstate and online lotteries, calling for the “charade to end”.The DOJ is in the process of reviewing whether the 1961 Wire Act covers state lotteries and their vendors, having already made several statements on the case this year.In January, the DOJ revised its 2011 ruling on the Wire Act to state that the law’s prohibition applies to all forms of gambling and not just sports betting. However, the DOJ last month said that this revised stance does not address the legality of interstate and online lotteries.The April filing came in response to a legal challenge from New Hampshire over the revised opinion, and NeoPollard has now made a further filing on the matter in New Hampshire District Court.In its filing, NeoPollard said the Wire Act is a criminal statute that imposes severe penalties, including lengthy terms of imprisonment, on violators and that the authority of the existing Act should not be understated.NeoPollard also notes that violations of the Act can serve as predicates for criminal prosecution under the Racketeer Influenced and Corrupt Organisations Act, which carries longer prison sentences.“This charade must end,” the filing said. “The plain truth is that whatever the Department might later conclude, there is no definitive case law to conclude that vendors to state lotteries such as NeoPollard can be categorically removed from the ambit of the Wire Act.“The only path forward for NeoPollard is that charted by the Department’s 2011 opinion: a conclusion that the Wire Act is limited to sports betting.“The Department’s recent interpretive gymnastics make clear that only a declaratory judgment from this Court, not further discretionary forbearance from prosecution, and certainly not a new opinion from the Office of Legal Counsel, can relieve NeoPollard from the threat of criminal liability and the many collateral consequences that flow from that.”NeoPollard goes on to say in the filing that the court should resolve its claim for a declaratory judgment that the Wire Act does not apply beyond sports gambling, saying there is no support for excluding state vendors from the Wire Act’s sweep.“NeoPollard has sought a declaratory judgment that the Wire Act covers only sports gambling, and they are entitled to that relief,” the filing added.The New Hampshire Lottery maintains that the revised opinion could force it to withdraw certain games, resulting in the loss of around $90m (£69.1m/€80.6m) for the state each year.A ban on interstate gambling transmissions could cut sales by 25% per year, while a ban on multi-state games such as Powerball is likely to reduce lottery revenue by up to $80m per annum, the lottery stated in its lawsuit filed in February. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Legal & compliance Lottery Sports bettinglast_img read more

ARC and TRP victorious in SIS data rights case

first_img Topics: Legal & compliance Sports betting Horse racing Tags: Race Track and Racino The Arena Racing Company (ARC) and The Racing Partnership (TRP) have won a High Court case against Satellite Information Services (SIS) for the unlawful use of racing data from a number of its UK racecourses. Horse racing ARC and TRP victorious in SIS data rights case Subscribe to the iGaming newsletter Regions: UK & Ireland 8th May 2019 | By contenteditor The Arena Racing Company (ARC) and The Racing Partnership (TRP) have won a High Court case against Satellite Information Services (SIS) for the unlawful use of racing data from a number of its UK racecourses.The UK’s High Court has ruled SIS and the Tote breached duties of confidence by unlawfully taking, supplying and commercially exploiting data without the full permission of either the ARC or TRP.Raceday data includes the state of the course, the withdrawal of any horses, changes in jockeys, the exact start and finish time of a race, stewards’ enquiries, photo finishes and the result.The legal process will now move forward to determine the amount of damages payable by SIS to TRP.TRP was set up to exclusively license media rights from horse race meetings at ARC and other independent racecourses, direct to retail bookmakers and other betting operators. Customers such as William Hill, Paddy Power and various independent operators contracted directly with TRP to receive a rights package comprising live data and audio-visual coverage for fixtures from Doncaster, Lingfield Park, Southwell, Royal Windsor, Wolverhampton and Worcester from the start of 2017.However, it transpired that the retail estates of Ladbrokes, Coral and Betfred did not contract with TRP to secure the supply of live data and TV coverage from the racecourses. Instead, the bookmakers compiled data from other sources to create an unofficial service from the Tote’s presence on-course and other sources through SIS, without payment to TRP.As a result, TRP in January 2017 launched High Court proceedings against SIS and the Honourable Mr Justice Zacaroli has now ruled that SIS was fully aware of the requirements related to this data in terms of payment owed to TRP.In a 96-page judgment, Justice Zacaroli said SIS was aware that the ARC imposed restrictions on the use of raceday data on all attendees and the ARC had granted exclusive rights to exploit the data for fixed-odds betting purposes to TRP.SIS was also aware that there was considerable commercial value in being able to disseminate data to off-course bookmakers as soon as possible, while the Tote had no contractual arrangement with ARC regulating its entitlement to collect, or sub-licence to others the data.The Tote did have the right to be on the Arena Racecourses, but this had only ever been exercised for the purposes of pool betting. Justice Zacaroli said SIS would have been aware that any other use of this data would breach confidence.Although Justice Zacaroli said that ARC and TRP had not made good their other claims in conspiracy through unlawful means, he concluded SIS is liable to the claimants under a separate direct claim for breach of confidence.“In these circumstances, and given that SIS is the only remaining defendant in the action, it is difficult to see what a finding that SIS was also liable in conspiracy would add,” Justice Zacaroli said.During the trial, SIS admitted it was not entitled to take and commercially exploit Raceday Data from third-party websites carrying the official data from TRP’s media rights package, and its practice of doing so infringed TRP’s database rights and was unlawful.SIS also said it was not entitled to use data from betting exchanges to create and commercially exploit betting prices without authorisation from these exchanges, and its practice of doing so was again unlawful.In addition, SIS admitted to breaching the terms of a data licence with TRP by supplying data to certain bookmakers not licensed by TRP to receive it.ARC chief executive Martin Cruddace praised the ruling, saying he was pleased the High Court has recognised the validity and enforceability of its exclusive rights to the data created and collected on its racecourses.“We welcome the fact that the judgment gives a ruling on the rights in and protection of raceday data which is important to all of British Horse Racing,” he said.“It is clear and, in our view, beyond any reasonable dispute that Ladbrokes, Coral and Betfred were only able to not enter into media rights agreements with TRP, on proper commercial terms (between Jan 1st and late July 2017), because of their access to raceday data unlawfully supplied by SIS, and it follows that SIS is responsible for the very significant damages to which TRP is entitled.“We will now expeditiously commence the proceedings to determine the quantum of damages and will continue to monitor any infringements of our rights and take appropriate action wherever such infringements are found.”Ladbrokes, Coral and Betfred are yet to comment on the ruling.Image: Carine06 AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

High hopes: regulatory prospects in Brazil

first_img High hopes: regulatory prospects in Brazil In an exclusive extract from iGB’s Brazil e-zine, Scott Longley runs the rule over the various gaming bills now in play and how they are likely to translate into the marketIt was departing Brazilian President Michel Temer who set the ball in motion on the regulation of both online and retail sports betting as an approved lottery game in the country.Reform bill PM 846, signed by Temer in December last year and then becoming Law 13,756/2018, set up a two-year period during which the Ministry of Finance, now under the instruction of the new government of Jair Bolsonaro, would look into how it wishes to best implement a new system of oversight of sports betting.It’s an enticing prospect. According to the leisure and gaming analyst team at Morgan Stanley, the market could be worth up to £1.1bn within five years as a base case and up to £1.6bn in a more optimistic scenario.Much will depend on how the government chooses to regulate.
 The new bill certainly marks a step forward from the current situation in Brazil, where the only explicitly regulated gaming comes via the lottery, which is run by the Caixa Econômica Federal Bank under the supervision of the Ministry of Finance, and legal horse racing.The size of the offshore market is up for debate. According to a report from the Brazilian Legal Gaming Institute (Instituto Jogo Legal), the illegal gambling market (i.e., not just online) was worth up to $6.4bn in gross gaming revenue (GGR) terms while a report commissioned by the Remote Gaming Association (RGA) and conducted by KPMG in late 2017 estimated offshore online GGR to be worth $2.1bn (£1.6bn) annually.Current offerings in Brazil There are three official horse racing offerings. One is Suaposta, operated by Club do Rio Grande do Sul in conjunction with the Spanish gaming giant Codere. French tote operator PMU also works in the country with the Jockey Club Brasileiro, while the Jockey Club de Sāo Paulo operates the website WebTurfe.Poker has been recognised as a game of skill and therefore is not subject to legislation, meaning operators are allowed to advertise. The country has always been a strong market for the likes of PokerStars and 888, both of which will doubtless be hoping to leverage their brand positioning in sports. There are two large poker tournaments that take place in Brazil: the WSOP Brazil and the Brazilian Series of Poker.The sports betting opportunity Having passed the first stage, the various stakeholders now await the outcome of the two-year framing process. The bill states that it should be a “competitive environment” but goes no further in outlining what is envisioned. As the Morgan Stanley team notes, this might imply an open licensing process, with a potentially unlimited number of licensees, or the government might simply opt for a single licence via the lottery concession. Luiz Felipe Maia, a lawyer at FYMSA Advogados, thinks that limiting the number of licences would be of no benefit. “[If we do this] we will only be creating excuses for unlicensed operators to continue operating offshore,” he says.“Regulation must create the necessary conditions to attract all operators willing to invest in our country and to comply with our rules, which will set the highest standards based on international best practices.“I really believe we will have an open number of licensees and will let the market define the ideal number of companies.”According to Morgan Stanley, another possibility is for the government to opt for a limited number of licensees, likely accompanied by some upfront capex spend.Maximiliano De Muro, former regional manager in Latin America for Mr Green, says this would give the government the option of widening licensing at a later date. “The government would like to see how it goes first,” he explains.The decision over the route taken will emerge next year, according to Marcelo Munhoz da Rocha, a gaming consultant with BetConsult in Brazil. “What we have been hearing is that until the end of 2019 the regulation for sports betting [to] be finished, and that the initial processes of the licence granting shall happen in early 2020.” It has also yet to be determined whether the legislation will encompass both retail and online within its purview and also whether it might be implemented on a regional basis. We do, however, know the tax structure.Morgan Stanley says online operators would be subject to a minimum payout of 89%, with gross win capped at 8% and the remaining 3% handle to be remitted as tax. However, it notes that this could change, suggesting that a mid-20% rate has been mooted.Key legislation in Brazil Law 13756/2018 offers fixed-odds betting as a lottery product, granting powers for the Ministry of Finance to regulate it and issue licences over two years, renewable for the same term, from the publication of the law.The instant lottery (Lotex) privatisation tender was scheduled to be held on 26 April, with the winner to have a monopoly for 15 years to operate the instant lottery both online and offline. However, shortly before the auction it was announced that the date was to be postponed, for a fifth time.Online casino is under discussion in two different bills: PLS 186/2014, in the Senate, and PL 442/1991, in the Chamber of Deputies.In February the integrated casino bill PL 530/2019 was introduced to Congress to authorise 32 casinos within integrated reports across the country.The Brazil e-zine will be published in full in the coming week. Tags: Mobile Online Gambling OTB and Betting Shops Race Track and Racino Subscribe to the iGaming newsletter Topics: Casino & games Legal & compliance Sports betting Bingo Horse racing Regions: LATAM Brazil AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Bingo 15th May 2019 | By contenteditor In an exclusive extract from iGB’s Brazil e-zine, Scott Longley runs the rule over the various gaming bills now in play and how they are likely to translate into the market Email Addresslast_img read more

Youth football dogged by suspicious betting activity in 2018

first_img A new report from Stats Perform and Starlizard Integrity Services has revealed a slight decline in suspicious betting activity concerning football in 2018, though two matches at the highest level of the game were flagged for potential corruption for the first time.In addition there was a disproportionately high level of unusual activity around youth football, and despite a decline in the number of matches in Asia being flagged, it remained the largest region for suspicious activity.In total, however, only 0.61% of all matches monitored were classed as suspicious.The second annual Suspicious Betting Trends in Global Football report, compiled by Stats Perform and Starlizard in partnership with data specialst TxOdds identified suspicious betting patterns around 377 matches over the year.This marks a decline from 2017 — when 397 matches were flagged — despite an increase in the number of matches monitored to 62,250, across 115 countries and including youth, international, friendly and women’s matches.However, for the first time, two matches categorised as “Tier 1”, which includes the highest levels of competition and for which the highest stakes can be wagered, were considered suspicious.Of the 377 flagged matches, 58 involved youth football, even though youth matches made up only 5.6% of the sample.Games in Asia were overrepresented among the suspicious matches. Of the 7,263 matches in Asia monitored, 69 were flagged as potentially being fixed based on betting patterns. However, this marked an improvement from 2017, when 68 out of 5,075 matches in Asia were flagged.Africa was the only continent which saw an increased percentage of matches flagged. Of the 1,923 total matches in Africa monitored, five were flagged as suspicious, up from just one out of 1,250 in 2017. The majority of flagged games and total games monitored were located in Europe, where 227 out of 35,469 games were marked as suspicious.International matches had a greater proportion of games flagged than any continent, with 47 out of 4,896 matches identified.The report highlighted one European domestic youth league as containing an especially high amount of suspicious betting activity. The number of suspicious matches remained unchanged year-on-year at 8% of fixtures, while one team from this league has no been involved in 13 flagged matches in the past two years. None of the countries, teams or leagues in question were named in the report.One men’s senior international team had five of its 10 games in 2018 flagged, after having no matches flagged in 2017.In addition, one European country saw a drastic decrease in flagged matches after “effective action by the governing body and law enforcement,” which included a number of arrests, shut down what Perform said it believed to be an “organised, cross-border match-fixing operation.”“It is important that the football world remains diligent and alert to integrity threats at all levels of the game,” head of Starlizard Integrity Services Affy Sheikh said. “In producing this report, a huge effort has been made and a vast amount of data analysed in order to provide sports and integrity stakeholders with detailed intelligence on suspicious betting patterns across many different competitions and countries.”Stats Perform head of integrity Jake Marsh added: “We believe that by shining a light on suspicious activity in a non-accusatory public forum we can elevate understanding of the latest trends and areas of concern to integrity stakeholders.“The efforts of integrity stakeholders, sports governing bodies and law enforcement are amplified when working together towards a common goal. To this end, we share the results of our analysis with stakeholders on a non-commercial basis in order to assist their efforts in protecting the integrity of football.”In July, the International Betting Integrity Association reported that 18 football matches generated alerts for suspicious wagering activity in the second quarter of 2019, while the Global Lottery Monitoring System reported 324 alerts and 25 red alerts concerning football. On 25 July, Swedish state-owned operator Svenska Spel ceased offering odds on fourth-tier league Division 2 Södra Svealand after integrity monitoring partners revealed that as many as 13 matches in the division were suspected to have been rigged during the spring season. Subscribe to the iGaming newsletter 14th August 2019 | By Daniel O’Boyle Sports betting Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Sports betting Youth football dogged by suspicious betting activity in 2018 A new report from Stats Perform and Starlizard Integrity Services has revealed a slight decline in suspicious betting activity concerning football in 2018, though two matches at the highest level of the game were flagged for potential corruption for the first time.last_img read more