Business & Financial
Free-to-Play Game of Online Poker Zynga Won’t Offer Cash Games in Near Future
There has been a lot of talk about the world’s largest free-to-play game of online poker Zynga offering cash games once regulation takes place in the United States.
Zynga Poker General Manager Lo Toney has been talking down the prospect in recent days.
In fact, Mr. Toney is adamant Zynga Poker will remain free-to-play, even if legislation ultimately passes that would make cash games legal in the United States.
Ladbrokes, BetDSI.com Demonstrate Importance of Mobile Betting, Live Wagering
Ladbokes this week launched a live streaming of AtTheRaces live coverage of British and Irish horse races in an effort to expand on its vital mobile betting platform. iPhone users can currently access while the product will ultimately be available to Android and other mobile platforms.
Richard Ames, Ladbrokes managing director, products, commented: "Mobile betting is growing rapidly and Ladbrokes customers have a leading range of services. We continue to develop it and aim to make it the first choice for mobile betting and gaming customers."
Switch Poker Becomes First Bitcoin Poker Room
Mobile poker operator Switch Poker became the first to offer Bitcoin as a payment solution for players. Switch Poker does not currently accept US customers. The online poker room also promotes itself as being the first room compatible on just about every browser for iPhone, iPads, iPods and more.
Sky Bet, Other British Bookmakers Slaughtered After This Week’s Premier League Action
Sky Bet bookmakers were left reeling after a week where all of the Premier League favourites walked off victorious.
It was the “worst day in their sports betting history” according to a company statement.
Sky Bet paid out to thousands at 7/1 with Manchester City, Southampton, Charlton and Southend all winning.
Sky Bet's Head of Football Trading Sandro Di Michele said: "Pretty much everything that could of gone wrong for us today did, with the 'What If' market just one of our enhanced accumulators to have come in.
Online Poker Traffic Flat Lines This Week
Online poker traffic for the week dropped a mere 0.2 percent according to PokerScout.com.
PokerStars was among three sites in the top 10 that witnessed a slight gain, increasing its traffic by 2.5 percent after a sharp decline last week. Stars up and down traffic has been attributed to big time promotions in recent weeks. This week the poker site is celebrating 10th anniversary with freerolls and a $10 deposit bonus.
Meanwhile, PokerStars French website continued surpassing its Italian version.
CNN on Full Tilt Poker Shutdown: Did Poker Ponzi Steal My Rent? (Video)
With the Super Committee deficit-reduction failure drawing added viewers to CNN’s afternoon programming, the news network’s special look at how much money was lost by US poker players on Full Tilt Poker managed to garner additional attention, not to mention scaring off more potential poker players.
“A popular online gambling website shut down by the US Feds. Just how much money was lost by players?” a teaser asks.
While the shutdown occurred back in April, CNN continued to broadcast its segment throughout the afternoon hours.
Zynga Mobile No Match for Angry Birds…Yet
While Zynga, along with its online poker product, remains the biggest social games provider on Facebook, it is far behind where mobile gaming is concerned. Angry Birds currently holds the title there for “Most Popular” game platform.
Zynga has some 227 million monthly users.
From the Guardian Online:
World Wide Wagering Does Not Suspend Use of Alleged Rigged Online Casino Software (Correction)
A Pittsburgh Tribune-Review report last week claimed BLR Technologies offered rigged online casino software to its operators.
Tests studied as part of the article demonstrated that the BLR online casino software could be rigged.
According to the Pittsburgh Tribune-Review piece, “the software by BLR Technologies, based in Costa Rica, detects a player's bet and increases the chances of a losing roll”.
Dan Henderson UFC Poker Marriage Perfect for Stations Casino Online Poker Plan
The Montreal Gazette this weekend posted an article on Dan Henderson enjoying success at the poker tables. He was slated to fight Mauricio (Shogun) Rua as part of Saturday night’s UFC 139 card. Henderson was a +120 underdog vs. Rua at -150.
Full Tilt Poker Customers Would Likely Get Deposits Back Should Deal Go Through
Customers of Full Tilt Poker owed monies since April 15 wait with baited breath as a reported settlement has taken place between the US Justice Department and Groupe Bernard Tapie, the entity looking to acquire Full Tilt Poker. On June 29 the company had its license to operate pulled after it failed to prove the business had sufficient funds on hand to pay players. Two executives of the company were indicted on April 15, charged with money laundering and bank fraud. Three other stakeholders in FTP were accused by the US Government of running an elaborate ponzi scheme. It is interesting
DOJ Spokesperson Denies Full Tilt Poker, Groupe Bernard Tapie Deal for $80m
A DOJ spokesperson, Carly Sullivan responded to a CNN report that was quickly pulled off its site regarding a DOJ deal to allow Groupe Bernard Tapie’s acquisition of Full Tilt Poker: “We have no comment and do not confirm or deny a deal.”
Full Tilt Poker itself later issued a statement that an “agreement between Groupe Bernard Tapie and the Department of Justice have been finalized”, however, FTP has released “misleading” statements in the past.
Spencer Bachus: 60 Minutes Segment a Hit Job
Alabama Republican Congressman and strong advocate for online gambling prohibition, Spencer Bachus, denied he engaged in any form of “insider trading”. He called a “60 Minutes” segment that suggested otherwise “a hit job”.
The segment aired on Sunday. The reporting was based on a book by conservative author Peter Schweizer called “Throw Them All Out.” Rep. Spencer Bachus (R-AL), the chairman of the House Financial Services Committee, was alleged to have traded stocks after he was told by Treasury officials in September of 2008 of the impending financial meltdown.
Overnight and Weekend Binary Options Funded By Bitcoin Announced at Digibookie
Wholesale sports and financial bookmaker, Digibookie, announced today that it will be offering overnight binary options on all major financial stocks, commodities, and indices to accounts funded by the hot new digital currency, Bitcoin. Until now, Digibookie has catered exclusively to retail credit bookmakers and binary options brokers across the globe. The retail investors have embraced the binary options revolution in a big way.
Tower Poker Moves to Cake Poker Network: Still Will Not Accept US Customers
Pro-friendly Tower Poker, owned by TowerGaming, has made the move to the Cake Poker Network from Ongame. While Cake Poker accepts US customers, Tower Poker will not be permitting players from the US.
Tower has a reputation for permitting unlimited reload bonuses and VIP promotions while accommodating more high-end players. In recent months, Ongame has focused more heavily on a recreational player base.
Online Poker Traffic Crashes Nearly 8 Percent
The world’s online poker traffic fell a staggering 8 percent this week following the conclusion of PokerStars 70 billionth hand promotion. That site witnessed a remarkable 22 percent rise in overall traffic last week, which helped boost the industry overall to a 12.5 percent rise.
Nevada to Begin Granting Internet Poker Licenses
Nevada’s state Gaming Control Board will begin issuing licenses for operation of Internet poker sites beginning in February. The licenses would be granted much faster for those casino firms already holding a gaming license in the state.
Once granted a license, companies would only be permitted to offer online poker within the state’s boundaries in specified settings such as in the casinos and racetracks themselves.
Caesar’s Head Gary Loveman: “$5 Billion From Internet Poker in US a Conservative Figure”
Caesars Entertainment Corp. Chairman Gary Loveman, speaking during the company's third-quarter earnings conference call with analysts, said he believed his casino operation would have an Internet poker site up and running within 12 to 14 months of legislation passing in the US. He also balked at the idea that the industry would take in a mere $5 billion.
Betfair Poaches Paddy Power Second-in-Command
The world’s largest betting exchange announced Thursday it has hired away Breon Corcoran from rival Paddy Power to become its new CEO. Corcoran replaces David Yu.
The Financial Times of London reported that Corcoran’s Paddy Power contract was understood to have had a six-month notice period, with a non-compete clause for two-and-a-half months. As such, Corcoran is said to be on “gardening leave” until August.
Bwin.party Shares Stable: Benefit Heavily From Full Tilt Poker Closure
Bwin.party reported a year-on-year revenue growth of 3 percent in the third quarter, benefiting from the abrupt closure of what had been the world’s second largest online poker firm, Full Tilt Poker.
According to Sharecast.com, third quarter pro-forma revenue of €201.1m was up from €194.7m in the third quarter of last year, ahead of the €194m Panmure Gordon had been predicting, and up 9% on the second quarter.
Black Friday Bank Shut Down
A bank implicated in the processing of funds for three of the world’s largest online poker rooms last April 15 has finally been shut down.
SunFirst Bank in Saint George, Utah, was closed down by US Feds at the close of last week. It is the 87th bank of 2011 to fail.
The US Justice Department alleges that Full Tilt Poker, PokerStars and UB.com enticed officials of SunFirst to disguise online poker transactions as dog food and golf balls. Executives of the three online poker companies were charged with money laundering and bank fraud as a result.
South Point Poker Joins The Gambling911.com Family
In case you haven’t seen their banners flashing all over the site, we at Gambling911.com would like to officially welcome South Point Poker on board as the first Las Vegas Internet poker room.
“We are very thrilled to have them on board,” noted Payton O’Brien, Senior Editor of the Gambling911.com website. “Their entry ushers in a new era of legalized US-based casinos now offering online poker rooms.”
For now, the site will be free-to-play, however, the incentives are enormous.
MGM Head: “Positive Momentum in Congress Toward Passing Online Poker Bill”
In an interview with the Las Vegas Review Journal, MGM Resorts Chairman, Jim Murren, expressed his strong belief that the US Congress will get a bill passed to legalize online poker in the very near future.
"We think there is positive momentum in Congress toward passing a bill," MGM Resorts Chairman Jim Murren said. "It's time for the federal government to address this issue."
Online Poker Traffic Rises 2.2 Percent
Online poker traffic has risen 2.2 percent and there is likely to be another increase in the coming week with PokerStars 70 billionth hand promotion continuing. The world’s largest online poker room witnessed a traffic increase of 6 percent. Traffic also tends to increase leading up to the World Series of Poker Final Table, which will take place next week.
The weekly statistics tell only part of the story, PokerScout.com noted. Same-day comparisons show that the true increase in PokerStars cash game traffic is more than 30 percent.
Bwin.party Shares Soar on News of MGM, Boyd Partnership But Caution Advised
While shares in Bwin.party have soared in recent days with news that the company has joined forces with powerhouse casino brands MGM and Boyd Gaming to offer online poker to US residents once legislation is passed in the States, some analysts have advised caution.
Share prices rose 11p at 120.7p following the news. The companies have entered into a long term 15-year deal.
Bwin, Boyd, MGM Online Poker Deal Terms Revealed
Bwin, PartyPoker, MGM and Boyd Gaming announced Monday their intention to offer Internet poker to US players should the industry become legalized. There is a strong push to get Web poker sites up and running for real cash play at the federal level especially since states like California and New Jersey are vying for a piece of the pie ahead of the federal government.
Under the terms of the deal, Bwin would own 65 per cent of a new company to offer poker to US players, while MGM would own 25 per cent and Boyd 10 per cent.
Full Tilt Poker Attorney Jeff Ifrah Claims US Justice Dept Approves Sale
An outspoken attorney for disgraced online poker firm Full Tilt Poker claims the US Justice Department has reached an agreement whereby they will permit a French company to acquire FTP. Unconfirmed reports suggest the US Justice Department would be responsible for facilitating payouts to players.
Groupe Bernard Tapiehas sought to purchase Full Tilt Poker after following a series of indictments in April 15 that forced the one time second largest Internet poker room to exit the US market. Players worldwide have not received payment in months.
888 Holdings Sees Record Quarterly Rise
Publicly traded 888 Holdings, which runs the 4th biggest online poker room in the world, has reported a record quarterly high.
888 climbed as much as 5.3 percent, the most since August 30, before trading 2.3 percent higher at 33.75 pence as of 9:10 a.m. in London, according to Bloomberg News Tuesday. This gives the Gibraltar-based company a market value of 117.1 million pounds ($187 million).
MGM, Boyd Join Forces With Bwin, PartyPoker to Offer Online Poker
Yet another major casino company has announced a partnership with an already existing online poker group.
Casino operators MGM Resorts International and Boyd Gaming Corp. have teamed up with Bwin.party to prepare to offer Internet gambling. Bwin.party is the largest Web betting firm worldwide, comprising of PartyPoker, the 2nd biggest Internet card room, and Bwin, the largest Web sportsbook. The combined company’s net revenue last year was 814 million euros.
Billionaires Bet on Internet Gambling: Say it Will be a Marathon, Not a Sprint
Forbes.com featured a piece Monday on how billionaires are looking to back the likelihood of Internet gambling getting regulated in the United States.
The likes of Steven Roth, chairman of Vornado Realty Trust, and shopping mall magnate Herbert Simon, the owner of the Indiana Pacers, have invested in a firm that provides software and advertising services to potential online gambling licensees in the US, including the Vegas casinos.
Zynga Poker Takes Over Advertising Sports for PokerStars, Full Tilt on ESPN
The fine folks from WickedChopsPoker.com were among the first to discover that Zynga Poker, the free online poker room with over 29 million monthly users (8 million daily), has just begun advertising on ESPN.com.
What is the significance of this?
Two things.
