The Queens Speech, which Her Majesty gave yesterday (Wednesday May 8th), has confirmed what many gambling companies were expecting – that all gambling companies will now need to hold a UK Gambling license if they plan on advertising to or accepting players from the UK market.
Until recently, gambling companies have been able to operate in the UK under a license from an approved overseas jurisdiction (such as the Government of Gibraltar, for example). However, the new Gambling (Licensing and Advertising) Bill will now require all casinos, sportsbooks and poker sites that operate in the UK to have a UK Gambling license. This is to provide UK consumers with increased protection and to provide increasing levels of support against illegal activity.
As well as being subject to much more stringent regulations, operators will also be expected to contribute to education, research and treatment of gambling related problems in Britain, plus will be obliged to inform the Gambling Commission of any suspicious UK betting patterns. The bill was not directly referenced in the Queen’s Speech; however it was referred to in the attached briefing notes after the line “other measures laid out before you”.
So, what does this mean for current online casino, sportsbook and poker operators who have a license from another jurisdiction? What about those with the more expensive “top tier” licenses which are whitelisted by the UK Gambling Commission and have previously been acceptable? Whilst it is too early to say what the implications of this bill will be, it is undoubtedly going to ruffle a few feathers across the gambling industry today.
Stay tuned for more on this story as it comes. In the meantime, if you’d like to read more about jurisdictions and licencing, visit Gamble.co.uk.
Showing posts with label online poker. Show all posts
Showing posts with label online poker. Show all posts
Thursday, 9 May 2013
Tuesday, 12 March 2013
Should I be Buying Shares in 888 Holdings?
We don’t usually cover share prices in this blog, but with the recent news announcing the legalisation of online gambling in Nevada, New Jersey and Delaware, there has been a flurry of speculation about how the burgeoning US market could affect the online gaming industry around the world – specifically with regards to poker. With the subsequent announcement that 888 Holdings has partnered up with an investment group, Avenue Capital, to launch the All American Poker Network (AAPN) (read more about that here), initially operating from Treasure Island Casino in Las Vegas, all UK eyes are on two things – the poker traffic and the share price.
888 Holdings – Poker Traffic and Share Price
888 Poker currently ranks fifth on the PokerScout.com online traffic report, with an average of 2,450 real money ring game players over the last seven days. 888 reported in April 2012 that their poker revenue had increased from $11 million to $21 million in the first quarter like for like periods, and that their poker platform saw a whopping 83% increase in traffic from 2011-12.
Certainly, there is every chance we could see them becoming an even more formidable force, if their real money hands increased to such a level they could catapult into the Top Three. The iPoker Network, currently in fourth place with 3,200 games on average and PartyPoker, with 3,300, are separated by a hairs’ breadth, and it wouldn’t take much of an increase from US traffic to see 888 overtake these two brands.
Interestingly enough, Full Tilt are holding onto second place behind industry giant PokerStars by just 50 hands more than Party Poker (3,350). It is unlikely that Full Tilt will be allowed back into the US online poker market after the events of Black Friday (read more about what happened here), so their current level of traffic is unlikely to increase with the new legislation.
All this is good news for online poker sites like 888, who are new to the USA and are establishing formidable partnerships with key US casino operators, as it means there is an untapped market of old Full Tilt players just waiting to play again.
888 Holdings as a whole is benefiting from the potential of this sunny outlook. Share prices reached a record high on 7th March 2013, after the announcement of the legalisation of online poker in Nevada and New Jersey, topping 183.31. This is an increase of a massive 207.41% in the last year – a phenomenal increase.
You can see a screenshot of the Share Summary below, just to give you an idea of which way the line is going!:
All this, and the first US hand has not even been dealt yet? It sure looks like a good time to invest in 888 Holdings. Lets just hope the US poker market doesnt turn out to be a damp squib, as some analysts are prophesising.
888 Holdings – Poker Traffic and Share Price
888 Poker currently ranks fifth on the PokerScout.com online traffic report, with an average of 2,450 real money ring game players over the last seven days. 888 reported in April 2012 that their poker revenue had increased from $11 million to $21 million in the first quarter like for like periods, and that their poker platform saw a whopping 83% increase in traffic from 2011-12.
Certainly, there is every chance we could see them becoming an even more formidable force, if their real money hands increased to such a level they could catapult into the Top Three. The iPoker Network, currently in fourth place with 3,200 games on average and PartyPoker, with 3,300, are separated by a hairs’ breadth, and it wouldn’t take much of an increase from US traffic to see 888 overtake these two brands.
Interestingly enough, Full Tilt are holding onto second place behind industry giant PokerStars by just 50 hands more than Party Poker (3,350). It is unlikely that Full Tilt will be allowed back into the US online poker market after the events of Black Friday (read more about what happened here), so their current level of traffic is unlikely to increase with the new legislation.
All this is good news for online poker sites like 888, who are new to the USA and are establishing formidable partnerships with key US casino operators, as it means there is an untapped market of old Full Tilt players just waiting to play again.
888 Holdings as a whole is benefiting from the potential of this sunny outlook. Share prices reached a record high on 7th March 2013, after the announcement of the legalisation of online poker in Nevada and New Jersey, topping 183.31. This is an increase of a massive 207.41% in the last year – a phenomenal increase.
You can see a screenshot of the Share Summary below, just to give you an idea of which way the line is going!:
All this, and the first US hand has not even been dealt yet? It sure looks like a good time to invest in 888 Holdings. Lets just hope the US poker market doesnt turn out to be a damp squib, as some analysts are prophesising.
Wednesday, 27 February 2013
Speculation Regarding the US Online Gambling Legislation
Whilst we mainly bring you UK based Casino news, casino and poker players will not have helped but notice reports in the press over the last week regarding the legalisation of online poker and online gambling in several US states. The first state to officially allow online poker was Nevada, home to the glitzy Las Vegas, and following hot on its heels was New Jersey (home to its East Coast rival Atlantic City), who have gone a step further and legalised the online play of all casino games which can be played in a bricks and mortar casino.
But what does this mean for UK casino players? Will we eventually see a return of US players to our favourite online poker rooms and also to our online casinos? Or will these bills still restrict players to the US, and not affect European and UK casinos?
It is my guess that this is the start of the re-introduction of US players to the global online gambling community; albeit a gradual one. Although bills in both Nevada and New Jersey have been passed, they are not thought to actually be operational until later on this year. The same goes with Delaware who also recently announced their own legalisation of online gambling, and who are seeking a casino operator to integrate with their powerful State Lottery. However, due to the smaller size of Delaware – which houses 917,000 residents, compared to New Jersey’s 9 million – it is thought that they will form either an interstate agreement, which will allow residents of other states to play across state borders, or even an international agreement, specifically with Europe.
Vernon Clark, director the Delaware Lottery Office, has confirmed there have been “discussions” with both Nevada and “Europe” (although the specifics of where in Europe are not known), so there is a chance this could see the first step to US players re-joining the international gaming market. Plus, despite intentions for Delaware to have their online gambling up and ready by 30th September 2013, they are still awaiting an operator. Could one of the UK based companies already in the US market show an interest? 888 Holdings, William Hill and bwin.party all currently have interests in the Las Vegas or Atlantic City markets, either through sports betting or partnerships with US based resorts, so it is not too big a leap to imagine there will be interest from UK based companies.
If this happens, we could see the start of online poker games between UK and US players by the end of 2013. The potential size of the US gambling market runs into billions, and if more states follow in the footsteps of Nevada, New Jersey and Delaware (such as Massachusetts, California and Iowa, who have similar bills in the pipeline), who knows what impact this could have on the rest of the world? Time will tell.
Read More
If you’d like to read more about the New Jersey Legislation, click here.
If you would like to read more about the Nevada bill, click here.
But what does this mean for UK casino players? Will we eventually see a return of US players to our favourite online poker rooms and also to our online casinos? Or will these bills still restrict players to the US, and not affect European and UK casinos?
It is my guess that this is the start of the re-introduction of US players to the global online gambling community; albeit a gradual one. Although bills in both Nevada and New Jersey have been passed, they are not thought to actually be operational until later on this year. The same goes with Delaware who also recently announced their own legalisation of online gambling, and who are seeking a casino operator to integrate with their powerful State Lottery. However, due to the smaller size of Delaware – which houses 917,000 residents, compared to New Jersey’s 9 million – it is thought that they will form either an interstate agreement, which will allow residents of other states to play across state borders, or even an international agreement, specifically with Europe.
Vernon Clark, director the Delaware Lottery Office, has confirmed there have been “discussions” with both Nevada and “Europe” (although the specifics of where in Europe are not known), so there is a chance this could see the first step to US players re-joining the international gaming market. Plus, despite intentions for Delaware to have their online gambling up and ready by 30th September 2013, they are still awaiting an operator. Could one of the UK based companies already in the US market show an interest? 888 Holdings, William Hill and bwin.party all currently have interests in the Las Vegas or Atlantic City markets, either through sports betting or partnerships with US based resorts, so it is not too big a leap to imagine there will be interest from UK based companies.
If this happens, we could see the start of online poker games between UK and US players by the end of 2013. The potential size of the US gambling market runs into billions, and if more states follow in the footsteps of Nevada, New Jersey and Delaware (such as Massachusetts, California and Iowa, who have similar bills in the pipeline), who knows what impact this could have on the rest of the world? Time will tell.
Read More
If you’d like to read more about the New Jersey Legislation, click here.
If you would like to read more about the Nevada bill, click here.
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