Learn The Tricks Of Becoming A Successful Bookie

Do you intend to be a bookie? Are you yearning to do something that gives you a chance to serve others as you make money? Well, if that is what you have been craving for, here is a simple, quick and enjoyable way you will not only become a bookie but also learn how to utilize pay per head software that is a must have for all pay per head sites.

To start with, it is important to know that there are basics in every business venture. Therefore, if you want to make it in this sportsbook thing, you must know two basic things: acquiring players and how to sign up with PPH online bookie software. With these basic things, you are good to roll.

As mentioned in the preceding paragraph, for you to be successful in bookmaking, you need to have more players. Note that if you do not have enough clients, you will not make any money and in the end, you are likely to shut down your business. So, sign up, sign up and sign up.

Having as many players as possible is a security in case others may decide to look for online betting elsewhere. At least, you will remain with loyal clients.

Remember too that customer care services and the way you handle your clients is important. They will share their experience to friends, family members, colleagues and even neighbors. This way, you will have more and more clients.

The other thing that can help you become a successful bookie is to contemplate how you started gambling or how you got to your bookie operator. He probably told you. Do the same thing. The fact that you have gambled for years and now you want to become your own boss means that you have struggled, grown up with other gamblers or even know specific individuals who gamble. Why not tell them of your new project? Trust you me, they will stick to you never to go back to other bookies.

Do not worry even if you start with a single client. That is how other bookies grew to have their current gambling empires.

Finding Clients

Do you now ask how to get more clients? Well, think of sports. Visit golf pitches, clubs and even tennis courts. You can also have a list of bars near you and arrange to visit them. I am sure you will encounter many people talking about gambling. Some may even be asking the best online bookie with elaborate online bookie software. This will open a chance to sell your brand.

Partner With Reputable Bookies

This is perhaps one of the best methods. If you partner with a reputable bookie, you will gain exposure and clients will know you. It is now easy to become a sub-book than ever before.

Now that you have learnt the tricks, what are you waiting for? The early you start, the better because clients will know you.

read more  :   www.gambling911.com

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Professional Sports Bettor Billy Walters Convicted of Insider Trading

NEW YORK (Associated Press) -- A Las Vegas gambler linked to golfer Phil Mickelson saw the jury verdict convicting him of insider trading charges Friday as only a gambler could.

''I just lost the biggest bet of my life,'' William ''Billy'' Walters said outside Manhattan federal court minutes after the jury returned its verdict after two days of deliberations.

''To say I was surprised would be the biggest understatement of my life,'' Walters said in the Southern drawl that reflects his Kentucky birth and considerable time spent in Texas. ''Frankly, I'm in total shock.''

Prosecutors said Walters made over $40 million illegally from 2008 to 2015 trading on the stock of Dean Foods Co. Thomas Davis, a former Dean Foods board chairman, testified that he fed Walters tips about major developments involving the company before they became known publicly. The Dallas-based Dean Foods is one of the nation's largest processors of milk for retailers.

As the verdict was returned on 10 counts of conspiracy, securities fraud and wire fraud, Walters shook his head repeatedly.

U.S. District Judge P. Kevin Castel set sentencing for July 14 and agreed to prosecution demands that Walters submit to electronic monitoring and give up use of his private plane. Over a prosecutor's objection, Castel permitted Walters to return with his family on his plane to southern California, where he will reside until sentencing.

His lawyer, Barry Berke, promised an appeal.

The verdict capped a three-week trial. Mickelson never testified, though he had been on a list of prospective witnesses.

A prosecutor had said Mickelson earned nearly $1 million after Walters told him to buy Dean Foods stock in 2012. The prosecutor said Mickelson gave the profits to Walters to cover gambling debts. The Securities and Exchange Commission cited Mickelson for the trades in a lawsuit and Mickelson agreed to repay the money. Mickelson was not charged.

During the trial, Berke used Mickelson as proof that his client was innocent, saying that if Walters had inside information, ''the last thing you would do is give it to Phil Mickelson, one of the most famous athletes in the world who is going to attract regulatory scrutiny.''

Walters, 70, has built a sprawling business of auto dealerships, car rental agencies and golf courses worth hundreds of millions of dollars. Berke said he routinely makes multimillion-dollar bets on companies in the stock market.

Davis testified under a cooperation deal that he met Walters while golfing. He has pleaded guilty to insider trading charges and is likely to receive leniency at sentencing as a result of his testimony.

read more  :   www.gambling911.com

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Bookmakers face losing their licence and huge fines over problem gambling

Gambling firms that fail to tackle problem gambling and money laundering face heftier fines and a higher risk of losing their operating licence under a tougher regime to be unveiled by the industry’s regulator.

The Gambling Commission will lay out its new enforcement strategy this month, detailing how bookmakers, casinos and online gaming companies who are deemed to have breached regulations will be punished. The new stance follows a year in which several major bookmakers reached voluntary settlements for failing to prevent money laundering or problem gambling.
The Guardian's Audio Long Reads The big gamble: the dangerous world of British betting shops – podcast

The regulator has yet to publish the details of its harsher regime but chief executive Sarah Harrison recently warned gambling firms to expect tougher policing to ensure they were not used for money laundering and “terrorist financing”. In a speech to senior figures in the industry, Harrison said the regulator’s recent work had uncovered “a lack of curiosity, and at worst, a leadership culture which puts commercial gain over compliance”.

She said the commission would abandon the “blanket approach” of reaching settlements with firms that transgress and would be more likely to review their licence to operate in the UK.

“We will put all access to all tools, including licence review [...] on an equal footing. Parliament gave us a wide range of regulatory tools for a reason,” she said, adding that sanctions were likely to include “higher penalties”, particularly when a company was guilty of “repeated failings”.

Harrison, who took over as the commission’s chief executive in 2015, has repeatedly signalled her intention to run a stricter regime than predecessors. She called on companies to “raise your ambitions and your sights higher”, urging them to “step up the pace of change” before the publication of the new enforcement strategy.

She said that the regulator would not allow companies to spend months negotiating settlement deals, where they agreed to a voluntary payment when they misbehaved. Last year, the commission arranged voluntary settlements with bookmakers such as Paddy Power, which agreed to pay £280,000 after it was found to have encouraged a problem gambler until he lost five jobs, his home and access to his children.

Betfred reached an £800,000 settlement in June after admitting it had failed to implement proper anti-money laundering controls in accepting stolen cash from a “VIP” custom. In a similar case, the regulator announced an £880,000 settlement with Coral in April, after the bookmaker took hundreds of thousands of pounds from a “VIP” problem gambler who was using the proceeds of theft to feed his habit.

Harrison told gambling firms that the process of agreeing these voluntary payments was too “drawn out”. “To create better incentives for early settlement, we will also be consulting on introducing time-limited settlements,” she said.

This would mean firms who drag their feet in reaching a settlement with the regulator will have to pay more than if they agree an immediate payout. The industry’s trade body, the Association of British Bookmakers, said it welcomed any efforts to uphold high standards of integrity.

“As a sector, we are always ready to work with the commission to raise standards and adhere not just to the regulatory and legal frameworks in place, but to the commitments in our responsible gambling code which go beyond that. Clearly if there are failures that continue or are not addressed then it is right to take action,” said the ABB.

Labour MP Carolyn Harris, who chairs a cross-party group of MPs looking into the impact of fixed-odds betting terminals (FOBTs) applauded the tighter regime, but said the regulator should throw its weight behind curbs on the controversial machines, which allow gamblers to stake up to £100 every 20 seconds.

“I welcome this action from the Gambling Commission, but I implore the commission and the government to take immediate action to properly address the harm being done in communities across the country by the high stakes being waged on fixed odds betting terminals. Only by substantially reducing the maximum stake will we stop the harm being caused by these machines which have been called the ‘crack cocaine’ of gambling.”

The group of MPs, whose financial backers include casinos, the trade body for amusement arcades and pubs firm JD Wetherspoon, is due to publish a final report on FOBTs at the end of this month.

In an interim report published in December, the group urged the government to limit the maximum stake on the machines to £2.

read more  :  www.theguardian.com

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Betting Site Gives Donald Trump Odds of Impeachment 4-1 Within Six Months

Paddy Power was offering 4/1 odds on Trump being impeached within his first six months in office. The payout would be US$40 for every US$10 bet.  Those who believe he will not be impeached within the first six months could still win US$10 for every US$40 wagered (the $40 will be refunded should this bet be a winner with gamblers realizing a $10 profit).

The world’s largest online betting site was also giving Trump’s chances of finishing his four-year term at short 7/4 odds.

Last week various media outlets reported on a dossier, compiled by a person who has claimed to be a former British intelligence official, that claims the President-Elect engaged in kinky sex acts with prostitutes while in Russia.  More specifically the unverified reports alluded to these prostitutes urinating on a bed the current US President, Barack Obama, and his wife Michelle once slept in. Paddy Power has released odds on the so-called “golden shower” incident leaking onto RedTube at relatively short 5-1 odds.  The President-Elect and his staff have vehemently denied the incident ever took place.

“It’s so ridiculous on so many levels,” Trump attorney, Michael Cohen, stated. “Clearly, the person who created this did so from their imagination or did so hoping that the liberal media would run with this fake story for whatever rationale they might have.”

Cohen himself was mentioned in the dossier as having traveled to Prague, Czech Republic.  It has since been verified that Cohen was in the United States during the dates mentioned in the document.

Trump is due to be inaugurated this Friday January 20.  His win cost the Paddy Power website $4.5 million.

- Jagajeet Chiba, Gambling911.com

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Trump boosts prospect of legalised sports betting in the US

The President of the American Gaming Association (AGA) has expressed his belief that Donald Trump taking office could lead to a repeal of federal law barring sports betting in most US states.

Speaking in his year-end conference call, Geoff Freeman referenced Trump’s appearance on the Fox Sports show a year ago, in which the incoming US president made the following comments about sports betting and daily fantasy sports (DFS): “I’m OK with it because it’s happening anyway. Whether you have it (PASPA) or you don’t have it, you have it (sports gambling).’’

There has been interest among television broadcasters and individual team owners in repealing the 1992 Professional and Amateur Sports Protection Act (PASPA), which is a federal law allowing sports betting only in Nevada, Delaware, Oregon and Montana.

In fact, the ascension of sports betting into what Freeman calls ‘mainstream acceptance’ took a leap two years ago, when NBA commissioner Adam Silver broke with predecessor David Stern in calling for its legalisation. This mainstream acceptance has been further emphasised by NBA, NHL, MLB and NFL owners partnering with leading DFS companies FanDuel and DraftKings.

Arnie Wexler, co-author of the book ‘All Bets Are Off: Losers, Liars and Recovery from Gambling Addiction’, agreed that sports betting has gone mainstream but rejected an argument put forward by the leagues that that since sports gambling is inevitable, it might as well be regulated.

He described it as ‘hypocrisy’ because leagues such as the NFL have a history of banning players associated with gambling, and reiterated his belief that they are only after a portion of the estimated $95 million in annual money wagered.

A 2015 report by global gaming-research company Gambling Compliance estimated legalised sports betting in America could produce $12.4 billion in annual revenue, which would roughly equal all revenue generated by the NFL.

Wexler, who runs a national 1-888-LASTBET hotline with his wife for those seeking help for gambling addiction, also likened DFS to a ‘gateway drug’ which enables teens and young adults to get hooked on other forms of gambling.

read more  :  www.sbcnews.co.uk

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Is there too much data for marketeers?

A survey of senior marketers has revealed that the over whelming majority (96%) find improving data analysis processes a significant challenge. This is despite devoting an average of five hours and 36 minutes a week to the cause.

Steve McNicholas,
Call Credit

A Data Dilemma study of 151 UK senior marketers in August last year, also found that 80% believe they need to make significant inroads with data analytics and tools within the next two years to avoid falling behind competitors or losing out financially. This study was commissioned by Callcredit Information Group.

Steve McNicholas, Managing Director, Marketing Solutions, Callcredit Information Group, commented: “While marketers are prioritising the management of data, there is an overriding feeling that it should be delivering better business outcomes for them. At the same time, they know there’s a wealth of untapped opportunity to use data to extract more value but a lack of resource, and in some cases, expertise, is preventing them from unleashing it.

“The urgency to improve data analytics processes can be hard to reconcile given the high number of other priorities marketers are required to juggle on a daily basis. As a result, some are turning to off-the-shelf software packages, such as Excel, to keep things ticking along. The danger is that the early-movers, who have already invested in more robust data strategies, will over-take. Marketers must decide whether this is a price they are willing to pay.”

So what is it that gets in the way of improving data analysis? The causes were noted as a lack of budget (35%), time-to-value expectations (32%), a lack of human resources (31%) and underperforming data quality tools (30%). This wasn’t all and there were a number of other circumstances hindering progress such as imperfect data; with only 36% stating that they are extremely satisfied with the data they have access to.

71% meanwhile said that they feel overwhelmed rather than empowered by the data available, with 69% saying that they feel such data has distracted them from core marketing duties. Only a third said that they see themselves as ‘extremely effective’ at using the data available to understand their customers’ needs.

In response to these challenges, marketers are investing in data tools in an attempt to improve the status quo. 73% make use of web analytics and tracking tools and 67% utilise Excel and modelling packages to meet their goals.

read more  :  www.sbcnews.co.uk

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Football hits betting industry for £100 million losses this Christmas

Christmas 2016 will be a festive period to forget for betting operators, as the industry counts the cost of December’s congested English football schedule.

Closing its 2016, betting operators are reported to have been hit by industry-wide losses of over £100 million as heavily backed football favourites won their respective matches, with some bookmakers expected to report losses of circa £10 million.

Devastating to bookmaker balances will have been Premier League match day 18 (26-28 December) in which EPL title contenders Chelsea FC, Manchester City, Liverpool, Arsenal, Tottenham and Manchester United won their matches.

Issuing a trading update this Monday, FTSE-listed William Hill detailed to investors that it had taken a £20 million hit in December due to unfavourable sporting results in football and Racing, causing the bookmaker to revise year-end corporate earnings for 2016.

Independent bookmaker Sky Bet did not shy away from the ‘bookie bashing’, the bookmaker detailed to UK media that December 2016 had been its ‘worst month in living memory’, stating that it had paid more than £8 million on Christmas Day.

Sandro Di Michele Sky Bet’s Head of Public Relations commented on Christmas Period “Some people moan about getting socks for Christmas, but we didn’t even get those…Had it not been for Newcastle United losing to Blackburn Rovers it would have been the worst day in the company’s history and probably the industry”.

Watching the results, Industry analyst Regulus Partners has detailed that no bookmaker would have escaped Christmas 2016’s bashing, with William Hill’s severe losses expected to be replicated industry-wide as  operators gear up to announce full-year 2016 results in the coming days

read more  :  www.sbcnews.co.uk

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2016’s top gambling stories

If Canada’s Amaya Gaming was a hockey team, commentators would say their season was ruined by ''off-ice distractions''... 

Read more at  :  calvinayre.com  

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Netherlands to increase fines for illegal online gambling

Dutch gambling regulatory body Kansspelautoriteit (KSA) has announced that it is to introduce larger fines for illegal online gaming in the country.

Current gambling laws stipulate a maximum penalty of €150,000 ($161,400) for unlicensed online operators that target Dutch players.

However, under new regulations outlined by the KSA, brands that breach gaming laws in the Netherlands could now face a fine of up to €820,000, depending on the offence.

The stricter financial penalties will come into effect from January.

Although online gambling is currently illegal in the Netherlands, the country in July passed a bill to legalise the sector for the first time, and regulation could be introduced as early as next year.

Related article  :  Netherlands passes remote gaming bill

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Man Sentenced to Five Years for Tax Evasion Tied to Sports Betting Biz

An associate of convicted political insider Antoin “Tony” Rezko was sentenced Thursday to nearly five years prison on tax evasion charges tied to a multimillion-dollar sports betting operation he ran in the 1990s.

U.S. District Judge Ronald Guzman blasted Alber Najjar as a man who "lies and cheats and steals" to get what he wants and who has shown little remorse.

Najjar was arrested in Cyprus last October after being on the run for nearly 11 years and extradited to the U.S.

"He tells us nothing. He gives only superficial explanations," Guzman said during his sentencing. "We have no idea how this man has supported himself.”

The judge had initially sentenced Najjar to six years behind bars but had to change it to five years due to a clerical error.

The Syrian-born Najjar was indicted in April 2004 on charges alleging he evaded paying taxes on more than $2.8 million in income stemming from the Chicago-based bookmaking business.

Beginning in 2000, Najjar invested at least $2.5 million in Rezko-owned businesses, much of which came from a bookmaking account Najjar held in Curacao, which was once home to over a dozen sportsbook businesses.  Pinnacle Sports still operates there.

- Gilbert Horowitz, Gambling911.com

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INSIDE GOLDMAN SACHS: This is what a day in the life of a technology analyst is like

Technology in global investment banking has gone from a necessary cost to a possible saviour ...

Read more following the link below : 
www.businessinsider.com

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Introduction to Sports Investing and Value

Successful sports gamblers view the sports betting marketplace like a business or investment opportunity.  How do the “sharp bettors” profit in the long run?  How do they get their edge?  In this article, we look at how professional money managers earn long-term excess returns and how we can apply similar techniques to help us in our sports handicapping.

Some investors seek value by being contrarian investors.  Others are momentum investors.  Another strategy is to follow the lead of “smart investors” such as successful fund managers or famous investors like Warren Buffett.  Below, we’ll see what similarities we can find in the sports investing arena.  The information on this site is for entertainment and educational purposes only. Use of this information in violation of any federal, state, or local laws is prohibited.

Contrarian Investing and Value

Many of us have heard the phrase “contrarian investing.”  What’s the thinking behind being a contrarian investor?  If everyone hates a stock (or other investment), that stock might be undervalued and be a good long-term investment.  Historically, buying “value stocks” has been one of the best methods of investing in the stock market.

Similarly, we can profit in the sports marketplace by finding value and betting on undervalued teams.  Some handicappers follow sports closely and can find value in various match-ups and games.  Another method is to use the Betting Percentages available to members of Sports Insights.  If a certain match-up has more than 75% of the bets on one side, it often means that the general Public is overvaluing that side. As a result, there is often “value” on taking the other side of that bet.  This has proven to be a profitable strategy when sports investing in the major US sports.

Some sports investors note that this tool is particularly useful for “big games” such as nationally televised games, rivalries or other games that attract the attention of the “general public.”

For example, say that the New England Patriots are playing the New York Jets and 85% of the bets are coming in on the Patriots.  This is often an indication that the sports marketplace is overvaluing the Patriots (and undervaluing the NY Jets).  Historically, taking the NY Jets and “Betting Against the Public” would be a profitable play.

Momentum Investing

Some traders like to ride the “hot stocks” or “follow the trends” in the financial markets.  Other traders find success by using “counter-trend” trading systems.  Similarly, many sports investors actively follow the line movement and point spreads in various sports.  Some handicappers try to follow “steam moves” and watch for material line moves.  Others look for value as the point spreads fluctuate in the sports marketplace.  You can follow live odds and view the day’s most profitable Steam Plays at Sports Insights.

Smart Money: Invest with the Best

When news that Warren Buffett has taken a position in a company, that stock often makes a big move that day.  Investors want to emulate the “stars” and often buy some of the same stocks that top mutual funds and top hedge funds own.  In the sports investing world,  there are “sharps” or “smart money” players who are profitable over the long-term.   How can we “follow the smart money?”

Using the Betting Percentages and Line Movement data that is available at Sports Insights, you can get an indication of where the “sharps” are betting.  If the general public (based on Betting Percentage) is on one side of the game, but the point spread moves in the opposite direction, it is often an indicator that “big money” (and most likely “smart money”) is taking a position in the direction of the line movement (and opposite to the Public).

For instance, say New England plays Green Bay in the Superbowl and the line opens at New England -14.5.  Say that 80% of the bets are on New England but the line moves down from -14.5 to -13.5.  Although 8 out of 10 bets are coming in on the Patriots, this might be an indication that big money bets are coming in on the Packers.  This “smart money” indicator has proven to be a powerful tool to sports investors who use our sports marketplace information.

Enjoy the games!

The Team at Sports Insights

Disclaimer
We do not guarantee that the trends and biases we’ve found will continue to exist. It is impossible to predict the future. Any serious academic research in the field of “market efficiencies” recognizes that inefficiencies may disappear over time. Once inefficiencies are discovered, it is only a matter of time before the market corrects itself.

read more  :  www.sportsinsights.com

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The worst paid trader job in London pays £221,000 a year

Not all traders are equal.

According to Emolument.com data, having a certain type of job title could command greater earning power through wages and bonuses ...

Read more following the link below : 
uk.businessinsider.com

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How has gambling affected your life? Share your stories

The scale of Britain’s gambling problem has come under the spotlight with nearly £1bn being spent a week on fixed-odds betting terminals ...

Read more following the link below : 

www.theguardian.com

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Pennsylvania lawmaker plans sports betting bill

Pennsylvania lawmaker Nick Kotik has revealed plans to introduce a new bill that would legalise sports betting in the US state’s licensed casinos.

Kotik, who serves as Democratic chairman of the House Gaming Oversight Committee, noted that sports betting is already popular in the state but, at present, is being conducted in an unregulated manner.

He also said that the bill would create an exemption in Pennsylvania that prevents wagers on professional or amateur athletics events in the state.

“The intent of this legislation is to provide our casinos with an alternative form of entertainment, while also regulating a popular market,” Kotick said in a statement.

Kotik has also authored a bill to enable the state’s six international airports to operate slot machines within their terminals.

Related article: Nevada Governor signs new bills to boost sports betting industry

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ABB – Betting shops to introduce “Responsible Gambling Code” from 1st November

The UK’s eight million betting shop customers are to benefit from improved standards to help them bet safely and responsibly from 1st November, the Association of British Bookmakers (ABB) has announced.

The “Responsible Gambling Code” will be introduced by all members of the ABB, and encapsulates a ban on the advertising of gaming machines in shop windows, the development of a national self-exclusion scheme and the banning of advertising on TV free bets as a sign-up incentive before 9pm.

The code includes best practice standards for the use of behavioural data to identify customers who may be developing problems with their gambling based on agreed markers of harm – this measure will enable shop staff to engage earlier with customers who may be at risk.

On the issue of age verification testing, all ABB members work to the Think 21 standard, to ensure underage gambling cannot take place. In the new Code, there is a commitment to focus on challenging people on their age as soon as they enter a shop.

The new Code will be enforced by the independent Responsible Gambling Committee, who will have the option to revoke an operator’s membership of the Association.

ABB Chief Executive, Malcolm George, said:

“The past year has been a year of innovation for the industry in the area of responsible gambling.  The initial code signalled our intent to take action this area and introduced some important early steps.  However, as the industry trials and rolls out initiatives such as multi-operator self-exclusion and new ways of using customer data to identify potential harm, it is important that our Code is updated to reflect these developments.

We have also cemented our commitment in the original code to work with local councils by signing a partnership agreement with the Local Government Association to work together more closely, and we are piloting cross-operator self-exclusion schemes in Chatham and Glasgow and working with the Gambling Commission to introduce a national cross operator scheme in the New Year. We have also strengthened the Safe Bet Alliance guidelines for keeping shops as safe from crime as possible.

By updating the Code, we are reflecting the progress and keeping it relevant for our eight million customers.”

The initial ABB Code for Responsible Gambling was launched in October 2013 and introduced for the first time anywhere in the world the ability for a player to set a limit on the amount of time they play for, or the money they spend.

Under the new Code commitments, players are now required to decide whether they wish to set a limit, rather than it simply being something they might consider.

The new Code comes alongside recent regulatory changes for gaming machines, including the introduction of new rules for those wishing to bet more than £50.

read more  :  www.sbcnews.co.uk

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iGaming Business announces BAC lead sponsors

Alex Pratt

iGB Affiliate announce the headline sponsors of the Berlin Affiliate Conference (BAC) 2015. The annual event has moved from Barcelona to Berlin this year and is expecting a record number of delegates.

The lead sponsors for BAC 2015 are:

    Platinum Sponsor – Affiliates United (William Hill)
    Gold Sponsor – 888.com
    Silver Sponsor – E-Gaming Online
    Bronze Sponsor – iAffiliates
    Thought Leader- 24option

Alex Pratt, Head of iGaming Business commented, “We’re excited to announce our sponsors for the Berlin Affiliate Conference. They have been highly influential in the continued success of our affiliate events. To have the ongoing support of companies such as William Hill, 888.com, EGaming Online, iAffiliates and 24option is a real testimony to the importance of our events in the industry. BAC is going to be bigger and better this year and we owe a lot of that to our fantastic sponsors”.

For those in the iGaming affiliate industry BAC is a must attend event. There are endless networking opportunities and the conference provides an effective platform for reinforcing existing business relationships and building new ones.

BAC is expecting over 2,200 delegates and is home to more than 100 affiliate programmes. There will be an extensive schedule of conference sessions with speakers from the industry’s leading companies talking about the industry’s hot topics.

Michael Iranyi, Director of Marketing Services at William Hill Online added, “We’re excited to be the platinum sponsor of the Berlin Affiliate Conference in its new location in the heart of Europe. Connecting with partners is an important part of our business, and we look forward to meeting affiliates and embracing new business opportunities in the centre of Berlin”.

read more  :  www.sbcnews.co.uk

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North Korea accused of spreading online gambling software targeting South Korea

North Korea has been accused of distributing software that allowed users to operate illegal online gambling sites in other countries targeting South Korean gamblers.

On Monday, South Korea’s leading newspaper Dong-A Libo reported that a group of the country’s ‘white hat’ hackers had uncovered a hidden program titled “poker game server” on a website designed by online security experts to check malign codes in digital files.

The hackers claimed that the hidden gambling server software contained the IP address of North Korea’s general intelligence bureau, which has been accused of paralyzing the online activities of South Korean broadcasters and banks in a series of coordinated attacks in August 2013. The gambling software was reportedly made available the same month as the online attacks.

The Korean-language gambling software enabled users to operate various forms of gambling sites, including Hold’em poker and badugi. The hackers believe the North Korean government “earned lots of money by operating sites by itself or selling the server program to organized crime rings in the South.”

The hacker group pointed to a 2014 incident in which 15 North Koreans were arrested in Cambodia for operating an illegal online sports betting ring targeting South Korean bettors. The ring, which reportedly transferred profits of KRW 10b (US $8.5m) to North Korea before they were nabbed, was also accused of conducting malicious cyber activities against South Korean government websites.

The irony factor is huge here, as Hermit Kingdom leader Kim Jong-un (pictured) reportedly purged his uncle from the regime’s inner circle a couple years back for a list of offenses that included gambling. No doubt other Asian nations that have made arrests of Korean gambling rings – Thailand, in particular, has been overrun with such gangs in the past year or so – will be reanalyzing their evidence to determine whether there’s any connection with the North Korean software.

read more  :  calvinayre.com

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UK Gambling Commission spanks Rank Group over anti-money laundering lapses

UK gaming operator Rank Group has been forced to ante up £950k in penalties for anti-money laundering (AML) lapses at its land-based and online businesses.

On Monday, the UK Gambling Commission (UKGC) posted a summary of its investigation into two cases of shenanigans at Rank operations; one involving a Grosvenor Casinos customer and the other involving a different customer at Rank Digital’s MeccaBingo.com site.

The Grosvenor case involved a high roller named Da Feng Ding, who was recently sentenced to four years in prison on money laundering charges. The UKGC claimed that Ding was likely the “most commercially valuable customer” at one Grosvenor casino between 2008 and 2011, despite having no obvious source of legitimate income.

The UKGC found that Grosvenor had “reasonable grounds and numerous opportunities” to suspect Ding’s money was dirty yet “these opportunities were, on the whole, not taken.” Ding had also “exceeded the trigger points for interaction” under Grosvenor’s responsible gambling policies, yet there are no records of any such interactions taking place.

In the second case, an unidentified female customer of Mecca Bingo recently pled guilty to defrauding her employers of a six-figure sum. She had been a Rank Digital customer from Nov. 2011 until her arrest last December. Early on, her online deposits had been modest, but in May 2012, her monthly deposits increased to £5k and “remained above, and on many occasions, significantly above” that level until her 2014 arrest.

As a result of her deposits, Rank identified the woman as a commercially valuable customer, which led them to take her on a trip to Vegas in Oct. 2013 and on a cruise just one month before her arrest. Throughout, Rank neglected to ascertain the source of the woman’s income and didn’t even identify that this was an issue until July 2014.

Rank agreed to the £950k settlement to prevent a full investigation and to avoid a formal review of its UKGC license. Rank has also agreed to undergo a third-party audit of its new AML arrangements.

The UKGC has formally reminded all gambling companies to brush up on their AML responsibilities, which include identifying the source of a customer’s wealth and continuing to ask such questions regarding established customers.

The UKGC also asked companies to ask themselves whether their primary reason for submitting suspicious transaction info to law enforcement was because “it provides ‘cover’ to continue with a business relationship.” Companies were similarly cautioned that they had to be watchful that they weren’t committing the crime of “tipping off” customers that their gambling spending could be subject to a police investigation.

In October 2013, the UKGC publicly shamed bookmakers Coral and casino operator Aspers for their role in allowing a convicted drug dealer to launder over £1m in illicit funds through their operations. The companies were dinged a combined £127k in penalties and costs.

read more  :  calvinayre.com

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Just 1.3% of daily fantasy sports players earn 91% of player profits

New data has shed further doubt on the long-term viability of the daily fantasy sports (DFS) industry.

Ed Miller, author of numerous books on poker strategy, and Daniel Singer, senior adviser of the McKinsey & Company Global Sports and Gaming Practice, published an article on Sports Business Journal addressing “the curse of too much skill.” Specifically, the pair voiced concerns about how a miniscule percentage of DFS players are using technological aids to capture the bulk of player winnings.

According to the authors’ stats, which Miller said were “collected by a third party from publicly available pages,” the overwhelming majority (80%) of DFS players were considered minnows, responsible for only around 8% of total DFS entry fees. Over the first half of the 2015 Major League Baseball season, these minnows spent an average of $49 in entry fees, half of which they ended up losing.

Meanwhile, just 1.3% of all DFS players accounted for 40% of fees and won 91% of player profits. The bulk of this upper echelon spent an average of $9,100 on fees, on which they realized profits of $2,400, while accounting for 23% of all fees and 77% of the profits.

The top 11 players of this 1.3% are the true DFS sharks, spending an average of $2m in entry fees and realizing profits of $135k apiece. These 11 players accounted for 17% of all entry fees.

On the flip side of that equation, 5% of players are DFS’ ‘big fish,’ accountable for 36% of entry fees and 75% of all losses. These whales spent an average of $3,600 entering DFS contests, losing about $1,100 in the process. (The remaining 16% of fees were contributed by another 13.7% of players.)

matrix-reloadedThe authors contend that the minnows will happily continue to chug along losing $10 per month in perpetuity. The same can probably not be said about those unlucky whales, unless they’re masochists with more money than brains, yet they appear crucial to the health of the DFS economy, particularly if DFS operators want to keep on spending double-digit millions per week on TV ads).

The authors attribute the sharks’ success to the use of sophisticated technological modelling tools and the ubiquity of sharks in all DFS tournaments. It’s not uncommon for sharks to enter nearly every single DFS contest on a particular site, creating a scenario for minnows that the authors likened to Neo in The Matrix Reloaded, forced to contend with hundreds of Agent Smiths at the same time.

The authors suggest a number of potential fixes, including limiting the number of contests a player can enter on any one day, a restriction that FanDuel has already imposed. However, Miller says sharks will eventually adapt to this restriction by facilitating syndicate play.

A few months back, DraftKings’ decision to officially permit the sue of automated software for certain tasks on its site was greeted with howls of outrage by the DFS rank-and-file, who saw their own chances of success being further diminished. While RotoGrinders subsequently issued a free (for the moment) scripting tool, those modeling tools employed by sharks will continue to give them the necessary edge.

Earlier this week, poker aficionado Kim Lund (@infintieedgekim) posted a blog wondering if the DFS industry would “repeat online poker’s mistake.” Lund said DFS appeared to be “cultivating a pro culture” that would ultimately lead minnows to “conclude that their role to play is that of cannon fodder.”

Lund observed that while many DFS fans played simply for the love of it, they also did so with the expectation of winning now and then. “Feeling that you have a shot even if you’re the underdog is an absolute must for anyone to put money on the table.” Lund noted that DFS is doing a bang-up job of attracting new players but “the risk is that he or she will bust through their budget so fast that they burn out.”

read more  :  calvinayre.com

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