Efpolis Gambling

The UK Labour government is reportedly poised to significantly tighten the reins on the gambling industry, with a substantial increase in gambling taxes under consideration. This move, driven by concerns about the potential harms of gambling addiction and the need to generate additional revenue for public services, could have profound implications for the industry.

Sources within the Treasury suggest that proposals are being explored to double certain taxes levied on online casinos and bookmakers, potentially forcing operators to reconsider their business models or scale back their operations in the UK market.

Industry leaders fear “draconian regulations” will drive business to black market

The Betting and Gaming Council has warned that excessive taxation could lead to a surge in illegal black-market gambling activities, with consumers seeking out unregulated operators.

Analysts have expressed concerns that the potential tax rise could have unintended effects on the market, potentially increasing costs for consumers and driving them towards illicit operators.

Tax rise jitters shock gambling shares

Shares in major gambling companies such as Entain, Flutter Entertainment, and Rank Group have plummeted in recent days amidst speculation of the tax rise.

The proposed increase in taxes is part of Labour’s efforts to plug the £22 billion public finance deficit and raise additional revenue for the government. Industry insiders are urging ministers to take a more measured approach to tax reform, citing concerns about the impact on the industry and potential job losses.

The proposed tax rise has sparked intense debate among industry specialists, with some experts cautioning that increased taxation could ultimately backfire and drive consumers towards the black market.

The UK’s gambling sector plays a considerable role in the country’s economy, providing employment opportunities for thousands of people and yielding billions of pounds in revenue each year.

As the government ponders its next move regarding taxation, all eyes are fixed intently on any developments that may significantly alter the course of the sector.

The Isle of Man Gambling Supervision Commission has imposed a £140,000 fine on digital hosting provider Cyberhorizon for failures related to anti-money laundering and counter-terrorism financing.

During an inspection, the GSC identified apparent contraventions from a sample of files. This triggered a more in-depth examination, which the company’s directors fully support.

Investigation finds multiple breaches of regulations

An investigation conducted by the GSC found that Cyberhorizon had breached several requirements under the Gambling (Anti-Money Laundering and Counter-Terrorism Financing) Code 2019.

The company failed to regularly review its customer risk assessment, implement a technology risk assessment before launching, and terminate relationships with customers who did not provide comprehensive due diligence. Additionally, it did not specify how records could be retrieved after the cessation of its licence.

Despite the initial penalty being set at £200,000, it was reduced by 30% to £140,000 due to Cyberhorizon’s co-operation with the investigation and willingness to resolve matters expeditiously.

The company held a licence in the Isle of Man from March 2021 to September 2023 before leaving the jurisdiction.

Background on Cyberhorizon

Cyberhorizon provided video platforms and had been granted a permit by the GSC for two-and-a-half years before its licence was revoked.

In recent times, several other entities, such as Evolution and St8.io, have managed to secure their regional operational permits, highlighting the feasibility of compliance with regulatory requirements.

This penalty highlights the importance of maintaining stringent anti-money laundering protocols within the gaming industry.

Despite the issuance of Cyberhorizon’s gambling licence, questions remain about the decision, particularly given that its core services were not primarily focused on video gaming platforms.

The revocation of this authorisation now serves as a reminder to other companies in the region to fully comply with all regulatory requirements.

The UK’s gaming regulator has announced significant updates to age verification processes and financial risk assessments in the gambling industry, with new provisions coming into effect immediately. These changes aim to enhance consumer protection, particularly for those vulnerable to financial issues and problematic gambling.

Enhanced age verification protocols

All online gambling operators are now required to implement enhanced age verification measures through the newly introduced Social Responsibility (SR) Code provision, SR 3.4.4. This regulation mandates operators to carry out financial vulnerability checks on customers using public records to identify red flags such as bankruptcy orders and debt relief arrangements.

These checks are initiated when a customer’s spending reaches £500 within a rolling 30-day period. These safeguards will remain in place until February 2025, with further reviews planned thereafter.

New financial risk assessment pilot

To complement the age verification updates, a pilot initiative has been introduced to test the effectiveness of financial risk assessments for high-spending customers. This pilot will gather comprehensive data to evaluate how well gambling operators identify and support financially struggling customers.

The findings will help the regulator develop standardized protocols for managing high-risk cases, ensuring consistency across the industry.

Strengthening consumer protection

As part of ongoing efforts to protect consumers, the regulator has revised the Licence Conditions and Codes of Practice (LCCP), extending enhanced age verification procedures to bricks-and-mortar gambling establishments.

All operators, regardless of size, must now adopt a “Think 25” policy, ensuring a more rigorous approach to verifying the age of customers to prevent underage gambling. This reflects the regulator’s commitment to a safer gambling environment.

Balancing consumer rights and protection

These new measures are designed to create a balance between allowing consumers the freedom to make informed choices and protecting vulnerable individuals from harm.

By reinforcing both financial checks and age verification processes, the regulator aims to reduce gambling-related harm while maintaining fair access to gambling services for responsible users.

DraftKings, a major player in the sports betting and online gaming industry, is in hot water with both regulators and investors after a series of issues with its slot machine game.

The issues have raised concerns about the company’s transparency and its ability to protect consumers.

Slot Game Glitch

The Connecticut Department of Consumer Protection fined the company £14,392 ($19,000) for a malfunction in one of its online slot games, Deal or No Deal Banker’s Bonanza.

Over 20,000 spins failed to produce any wins, despite advertising an expected payout rate of nearly 95%​.

According to regulators, a software error set the game’s odds to zero, making it impossible for players to win. The glitch, which occurred shortly after the game’s launch in August 2023, was discovered within 48 hours. DraftKings reportedly refunded £18,111 ($23,909) to all players in Connecticut who had placed bets on the faulty game.

However, according to the state’s investigation report, the company did so without notifying the affected players of the exact reason for the refunds, prompting concerns about the integrity of the online gaming platform.

Regulators have fined White Hat Gaming, its casino software provider, £2,651 ($3,500) for its role in the incident.

Red Flags

DraftKings acknowledged the incident, claiming it was isolated to the game’s launch in Connecticut.

“Our customers’ satisfaction and the integrity of our products are central to our success. We have robust measures to monitor potential payout issues, and we investigate any concerns promptly. In the event of a game not functioning as intended, we ensure impacted customers are appropriately refunded.”

A DraftKings spokesperson said in a statement

However, DraftKings is also under investigation by The Schall Law Firm for potential securities law violations. The investigation is focused on whether DraftKings issued false or misleading statements to investors.

The probe was triggered by a report that user accounts had been hacked in 2022, resulting in £240,000 ($300,000) being cashed out from customer accounts without their knowledge. DraftKings acknowledged the breach but did not provide detailed information until after the report was published.

Following this news, shares of DraftKings fell more than 5%​

A recent shooting near a California tribal casino has led to several arrests, adding to a string of suspicious incidents in the region.

On Thursday, gunfire was aimed at two pedestrians walking near Loleta, California. Fortunately, the victims were able to avoid injuries from the early morning shooting. They alerted the Humboldt County Sheriff’s Office, who quickly responded to the scene. The victims described the shooters as being in a silver, two-door saloon and a black pickup truck.

Arrests made a short time later

A short time later, authorities were able to track down two suspects, Fernando Martinez and Robert Ellis, to a residence on Carroll Road. Officers found guns at the scene, adding more charges for the two.

Later, a third suspect was charged with brandishing a firearm. Madison Carroll was charged with brandishing a firearm and discharging a firearm. The reasons behind the shooting remain unclear, but authorities are continuing to investigate the incident.

Other incidents reported

This latest incident comes as California’s Eagle Mountain Casino was forced to evacuate due to a gas leak on Thursday night. The casino is located some 160 miles north of Los Angeles and is operated by the Tule River Tribe of California. Luckily, no injuries were reported during the evacuation, which lasted for several hours.

The reason behind the gas leak is unknown. Local firemen assisted at the casino in Portersville, California after being called out. Teams from the nearby gas company also rushed to the location. The gas leak was eventually contained by local firefighters.

A theft also occurred at a gaming property in Lake Charles, Louisiana, involving stolen vouchers. A suspect has been identified through casino surveillance footage and is being sought for further investigation.

As California’s casino crime spree continues, authorities are working to ensure that gambling properties provide a safe environment for patrons.

Following a £3 million transformation, Grosvenor Casino Leicester in the UK has officially reopened its doors to the public.

The upgraded casino boasts an exciting array of new amenities, including a poker room, a spacious sports lounge and an outdoor electronic gaming terrace where patrons can enjoy live sports and electronic gaming.

The casino’s reopening created 30 new jobs, and the relaunch included £6,000 worth of prizes for games played during the event.

Paul Davies will be at the helm as General Manager of Grosvenor Casino Leicester.

The refurbished casino

Sports lounge

The sports lounge now offers some of the best sports viewing in the city, complete with feature wall screens where patrons can watch and bet live on their favourite teams through Grosvenor Sport.

Meanwhile, the gaming experience has been elevated with state-of-the-art tables and new Electronic Roulette terminals, providing an immersive and engaging experience for players.

As part of its ongoing promotions, guests visiting Grosvenor Casino Leicester from 13 August to 13 September can participate in a thrilling game called Codebreaker, where £2,000 is up for grabs.

To play Codebreaker, patrons must first spin the Wheel of Wins in the casino and land a golden ticket, which will grant them access to the game.

Playing Codebreaker

Once inside, players will need to crack a four-digit code within a set timeframe; if no one correctly guesses the code, £2,000 will be added to the jackpot every week until someone does, potentially reaching a maximum win of £8,000.

The Codebreaker promotion is an exciting addition to Grosvenor Casino Leicester’s lineup, offering players a unique and thrilling experience that combines luck and skill.

With its revamped gaming experience and enticing promotions, Grosvenor Casino Leicester is sure to become the go-to destination for entertainment in the city once again.

Boyd Gaming has announced an exciting new development for Southern Nevada. They plan to build a new casino, Cadence Crossing, on Henderson’s current Jokers Wild site.

This project features a 10,000-square-foot casino with 450 slot machines, multiple dining options, and live entertainment. Construction is set to start this year and should be completed by early 2026. In a 15-acre site at Boulder Highway and Warm Springs Road, Cadence Crossing aims to grow alongside the Cadence community, eventually housing over 12,000 units. Currently, about 5,200 homes are occupied.

Jokers Wild Casino’s future plans

During construction, Jokers Wild will stay open. Once Cadence Crossing is up and running, Jokers Wild will close and then be demolished. A future phase planned could expand the casino and add at least a 114-room hotel, although no timeline has been set for this phase yet.

Keith Smith, CEO of Boyd Gaming, voiced his confidence in this project, citing the potential for growth as the community expands. He conveyed that the company is optimistic about matching its growth to the demand in the area. Smith also underscored their strategy of starting with a modest investment, allowing room for future expansion.

Boyd Gaming hasn’t shared the total expected cost for the project. However, they indicated it would be part of a $100 million capital expenditure covering other renovations outside Nevada.

Currently, Jokers Wild is Boyd Gaming’s only stand-alone casino in Henderson. When asked about their closed Eastside Cannery casino on Boulder Highway, Smith stated there hasn’t been enough demand to reopen it. The Eastside Cannery is near another Boyd property, Sam’s Town.

In its recent financial report, Boyd Gaming revealed a net income of $139.8 million for the quarter ending June 30, a 27.3 percent decrease compared to the previous year. This was paired with net revenues of $967.5 million. The decrease was attributed to one-time tax benefits that had boosted its results in the same quarter last year.

In Northern California, two native tribes, the Yocha Dehe Wintun Nation and Scotts Valley Band of Pomo Indians, have found themselves at odds over a proposed casino development. The serene landscapes of wine country and redwood forests, which characterise Northern California, now serve as the battleground for this conflict.

Both tribes share rich histories and traditions but are now locked in a dispute regarding a 128-acre parcel of land. The Scotts Valley Band sought to develop a $700-million casino resort on this land. However, the Yocha Dehe Wintun Nation challenges the Scotts Valley Band’s claim, asserting that the land is part of their ancestral territory.

This disagreement was amplified by a 2019 decision from the Trump administration, which was later overturned due to overreach and faulty reasoning.

The dispute has broken a long-standing communication channel between the two tribes. In the past, the Yocha Dehe had extended financial support for an alternative site designed to build unity and respect among native communities.

This confrontation is indicative of larger tensions as landless tribes and those with reservations fight for increased recognition and control of their territories.

Casino conflict and Indigenous rights

California’s congressional delegation and local government officials have weighed in on the controversy, opposing the Scotts Valley Band’s plans. The judiciary plays a crucial role as recent rulings question past government decisions and influence the future of tribal land rights in the United States.

The casino dispute highlights a broader narrative of Indigenous rights and land reclamation efforts, illustrating the ongoing struggle for justice and recognition among Native Americans. The Yocha Dehe, with their successful businesses in the Capay Valley, exemplify native entrepreneurship.

Meanwhile, the Scotts Valley Band is pursuing a casino project to re-establish their physical and economic presence on ancestral lands. This conflict underscores the urgency of addressing Indigenous rights and land reclamation in contemporary America.

In a significant development for the world of online poker, GGPoker has revealed that a record-breaking 1,124 players have qualified for the prestigious $10,000 (approximately £7,900) World Series of Poker (WSOP) 2024 Main Event in Las Vegas.

The distribution of qualifiers is as follows: winners from GGPoker.com Road to Vegas promotions: 732 players, winners from GGPoker.ca Road to Vegas promotions: 59 players, GGPoker.com direct buy-ins: 233 players, and ClubGG seat winners: 100 players.

GGPoker’s commitment to inclusivity and affordability is demonstrated by the fact that these opportunities began with buy-ins as low as £0.79.

By offering such accessibility, even players with smaller bankrolls have a chance at competing in this prestigious event.

GGPoker’s contribution

Paul Burke, Head of Public Relations at GGPoker, said that he expects some of their players to reach the final table.

As an added incentive, GGPoker has pledged to award an additional £820,000 bonus to any qualifier who emerges as the Main Event champion.

We are proud to be sending over 1,100 players to this year’s WSOP Main Event, highlighting the strong partnership between GGPoker and WSOP

Paul Burke

This partnership between WSOP and GGPoker has proven to be fruitful in recent years, with GGPoker responsible for sending a substantial number of players to the annual event.

In 2023, the WSOP Main Event drew a record turnout of 10,043 participants, meaning that GGPoker qualifiers will represent approximately 11% of the total field.

The upcoming tournament promises to be an exciting showcase of poker skills and strategy in one of the most prestigious live events in the industry.

For those harbouring dreams of competing in the prestigious WSOP Main Event, they are warmly welcomed to join the GGPoker community.

GGPoker qualifiers as well as direct buy-in players enjoy exclusive promotions – access to the GGPoker Platinum Lounge, discounts at Caesars properties, and the added incentive if one becomes the Main Event champion. This year’s event will run from July 3 to July 17.

Curious about the current state of online gambling in India and how the surge in illegal activities is shaping the local cryptocurrency market?

A new research report predicts that the illegal betting and gambling market in India is poised for a significant expansion.

Despite legal restrictions, this market segment grew at an impressive 7% CAGR from 2012 to 2018.

Discover why inadequate legislation, selective bans, and high taxes on legal platforms are fueling a 30% growth in India’s illegal betting industry.

Inadequate laws and inconsistent enforcement create a favorable climate for illicit betting platforms.

The Allure of Tax Loopholes in Online Betting

New tax rules mandate a 28% levy on winnings from legal gaming platforms, driving consumers towards unregulated sites that falsely promise tax exemptions.

Illegal operators exploit these tax loopholes to lure participants with enticing offers.

Legal online gaming companies reportedly generated INR 3,500 crores in revenue during the last quarter of 2023 under the new tax regime.

The government anticipates a massive INR 14,000 crores GST collection from this sector in the coming financial year.

Challenges in suppressing offshore gambling websites

The Ministry of Electronics and Information Technology’s attempts to block offshore betting websites have proven futile.

The tenacious nature of illegal betting operators is evident in their ability to circumvent bans by frequently changing domain names, emphasizing the urgent need for a comprehensive approach that can successfully tackle these unscrupulous actors and protect vulnerable consumers from potential harm.

The current strategy of intermittently blocking the domains of illicit betting sites has shown limited success in curbing their activities, leading to the urgent need for a more robust solution that can effectively tackle unlawful operators and ensure consumer protection.

The gaming industry is ever-evolving. To ensure a sustainable and thriving ecosystem, the challenges posed by illegal betting and gambling activities must be addressed.