Monthly Archives: May 2017

BITCOIN faces a unique opportunity in the wake of the Australian governments decision to crack down on offshore gambling.

The IGA Amendment Bill 2016 is expected to be finalised in the coming months, clamping down on offshore gambling sites which offer their services to Australians.

Some of the measures being debated include harsh penalties for businesses and individuals who market gambling products to Australians, plus politicians have vowed to investigate the possibility of payment blocking to unregulated sites.

This opens up doors for bitcoin to be more widely used as a deposit method at gambling sites as Australians continue to look offshore for better odds and the ability to wager larger amounts.

So why is bitcoin going to get a shot in the arm? Well it comes down to:

The bill to amend the Interactive Gambling Act 2001 was introduced last year after former New South Wales Premier, Barry OFarrell, released a report called the Review of Illegal Offshore Wagering.

The report addressed the ambiguity surrounding the gambling laws in Australia and while online gambling is not legal, it is not illegal either.

The review garnered a lot of publicity and politicians scrambled to alleviate the loopholes.

This resulted in the Minister for Human Services, Alan Tudge proposing the Interactive Gambling Amendment Act 2016 which makes it illegal to gamble at offshore sites.

Problem gambling was cited as the reason behind the bill, despite online gaming sites offering as many, or more protective measures than land-based venues.

Online casinos and bookmakers allow punters to set deposit and wagering limits as well as time restrictions. Operators also can easily keep track of spending habits and are alerted instantly to any unusual behaviour.

Land-based gambling laws in Australia relies on busy staff to notice problem gambling behaviour.

The bill has passed through the House of Representatives and was then debated by the Senate where secondary amendments were added.

Instead of looking to regulated markets, such as the UK Gambling Commission for inspiration, Australian politicians, egged on by anti-gambling bodies, vowed to crack down on offshore sites.

In reality they are clamping down on legitimate businesses with legitimate licensing from countries like the United Kingdom, which has one body regulating online casinos, poker, sports betting sites and any other type of wagering.

It soon became clear this was about the governments inability to tax offshore gambling sites, not about protecting the well-being of Australians.

One Senator called it how it is.

Screw the government and get a VPN, David Leyonhjlem said, after introducing an amendment bill which would have excluded poker and blackjack from the amendments.

Senator Leyonhjelms amendment was thrown out by politicians who have a guillotine hanging over their heads, brandished by staunch anti-gambling advocate and South Australian Senator Nick Xenophon.

This has forced many businesses out of the Australian market because they can not run the risk of falling foul of their own government regulation, if Australian authorities put pressure, for instance, on a UK or Malta regulated casino.

Gambling giants 888 and 32Red are just a few of the big name companies who have left the Australian market, while others with huge business bases in Australia like Pokerstars and Fortune Affiliates, who manage casinos like Royal Vegas and 7Sultans expected to follow suit.

This opens up the Australian market for the less government-scared bitcoin businesses.

Bitcoin gambling is already a blossoming industry with 100s of online sportsbooks and casinos operating online from various parts of the world, with huge business coming from Asian countries like China, where the people are traditionally tech savvy and face strict gambling laws.

In the 2014-15 financial year Australians spent almost $23 billion on gambling making them the biggest spenders per head on wagering in the world. This figure increased seven per cent on the previously monitored period and showed the extent of gambling in this country.

With Australian-licensed bookies facing more restrictions on advertising, offering lines of credit and the banning of in-play live betting, all services bitcoin bookies can offer, more and more people will turn to the digital currency.

The peer-to-peer nature of bitcoin means players are largely playing at these sites anonymously they simply sign up transfer the desired amount to the gambling site and begin playing. When they are finished they withdraw back to their e-wallet and carry on.

The Australian situation is potentially worth millions of dollars with many online poker enthusiasts, casino players and sports bettors vowing to continue to bet with whomever they like, spurred on by Senator Leyonhjelms verdict.

The funny thing is, the government is going to make the use of bitcoin a lot cheaper for Australian players.

The 2017 budget revealed from July 1, bitcoin and similar digital currencies will no longer be subjected to double taxation.

At the time of writing, users of the digital currency bear GST twice and while the government did not intend to change this for gamblers, it will make it cheaper for us to deal in cryptocurrency.

Continue reading here:

Australian Government's Crackdown on Offshore Gambling Sparks Interest in Bitcoin - newsBTC

Speech New Zealand Government

The regulation of gambling has received a lot of attention over many years, and there have been concerted efforts to devise effective legislation and regulations, which are the tools of your trade.Hon Peter Dunne Minister of Internal Affairs

17 May 2017 Speech

Opening address: Australasian Casino and Gambling Regulators Conference

Pullman Hotel, Auckland

Tena koutou katoa

Ka mihi kit e iwi manawhenua

Ka mihi hoki ki nga manuhiri no te Ao Rau rangatira maa, tena koutou, tena koutou, tena koutou katoa

It is a pleasure to open this years Australasian Casino and Gambling Regulators Conference.

Today, I will briefly share with you some thoughts about your Conference theme regulatory excellence.

But first, I want to reiterate the warm welcome provided by the mihi whakatau and waiata.

Thank you all for joining us in Auckland, especially our international guests and speakers who have travelled from across Australasia and further afield to be here.

We welcome you with great pride to the unique mix of cultures, long history and beautiful landscapes of Tmaki Makaurau.

I would also like to give particular acknowledgement to Graeme Reeves, Chief Commissioner of the New Zealand Gambling Commission.

I would also like to acknowledge Peter Cowsill, the Manager of the Casino Compliance team in Auckland, who is retiring in two weeks time after 20 years of service to the casino sector.

Peter was a Gambling Inspector for the Department of Internal Affairs when New Zealands first casino opened.

He has provided a strong customer-centric approach and contributed to significant changes in the approach to regulation over those years.

Peter is in the audience today and I thank him for his service.

And I would like to acknowledge all of the speakers who will share expertise during the Conference.

Thank you for your willingness and enthusiasm in taking the time to be here.

Role as Minister to oversee gambling regulation

As the Minister of Internal Affairs, I am responsible for the New Zealand Governments gambling policy and the legislation that provides the regulatory framework for gambling activity.

The regulation of gambling has received a lot of attention over many years, and there have been concerted efforts to devise effective legislation and regulations, which are the tools of your trade.

As you will all be aware, the regulation of gambling continues to engender strong feelings, both for and against, and this is an important part of the environment in which we all operate.

Whether we like it or not, gambling is a highly emotive issue to many people for a variety of reasons.

New Zealands Gambling Act balances the community benefits from gambling against the harm that can result from gambling.

It has a broad range of objectives, including: controlling the growth of gambling; minimising problem gambling; ensuring that gambling is fair; minimising opportunities for crime; and ensuring that money from gambling benefits communities.

The balance between harm and return from gambling

According to a report published in The Economist earlier this year, Australia wins the jackpot of having the biggest gambling losses per resident in the world an estimated $990 per resident in 2016.

This figure is around 40% higher than Singapore, the runner-up, and around double the average of other countries featured in the report, including the United States, Canada and Britain.

New Zealand came in at sixth place.

About 80 per cent of the New Zealand population participates in gambling at least once a year.

Around $2 billion is spent on the four main forms of gambling TAB betting; Lotto; casinos; and gaming machines located mainly in pubs and clubs.

It is within this context that gambling regulation in New Zealand aims to enhance the positive dimensions of gambling, and to reduce its negative dimensions.

An example of gamblings positive impact is the special Lotto draw that raised over $2.7 million in funds for the regions affected by the Kaikoura Earthquake in November 2016.

This generosity and community spirit in the face of adversity fits with Lottos goal of raising money for the community.

On the other hand, we are all familiar with the potential for addiction to gambling and the destructive behaviour that can result from it.

Its impact on individuals, families and communities is something we all have to consider in our roles.

I know that you face this same tension in your respective jurisdictions the need to enhance the positive aspects of gambling and reduce its negative aspects.

Regardless of whether this is recognised in your governing legislation, balancing the economic and entertainment value of gambling with the social harm that can accompany it is a challenge all our societies face.

Minimising harm from gambling is a topic I take particular interest in as I am in the fortunate position of also being Associate Minister of Health, with responsibility for gambling as a public health issue.

This provides me with a holistic perspective and enables me to keep a broad overview of the wider gambling environment and harm minimisation issues.

This hopefully helps our policy responses to be more consistent and better coordinated.

Professor Max Abbotts presentation about the past, present and future of gambling and gambling-related harm in New Zealand will also provide a host of relevant information on this important topic.

I hope you will all take away some valuable insights.

Class 4 review

While New Zealands Gambling Act is considered to be working generally well, we are looking at how Class 4 gambling operates that is, gambling in pubs and clubs on electronic gaming machines.

In New Zealand, the net proceeds from gaming machines return to local communities to help fund a wide range of activities.

Every year approximately $300 million is returned to the community, to the direct benefit of sports clubs, community groups, events and recreational facilities.

Gaming machine use has been in decline since the introduction of the Gambling Act in 2003.

While the decline has slowed in the past three years, the future of this class of gambling, and therefore community funding, remains uncertain.

The review of gaming machine gambling is looking at how the level of community funding can be sustained.

The review will consider whether we should concentrate our efforts on changes within this class of gambling, or whether there is potential to increase community funding through other avenues within the gambling portfolio.

I see that on Friday, Bruce Robertson, Chair of the Class 4 working party, will be sharing his thoughts on working with the community.

The Class 4 working party is a technical reference group that represents a large part of the industry in New Zealand and has built collaborative relationships with the regulator.

I welcome its establishment and the input that it has been able to have to date, and I look forward to that continuing in the future.

The Class 4 review is an example of the constant need for exploration of whether legislative frameworks are fit-for-purpose, and whether the regulatory regimes sitting beneath them are cost-effective.

Such exploration is especially necessary as gambling participants have increasing potential to move away from traditional forms of gambling, like electronic machines, to online and digital platforms.

It is essential that regulators and regulatory systems are equipped to accommodate any changes to the future of gambling.

Regulatory excellence

This brings me to the theme of this years conference, regulatory excellence.

This is an important topic and a crucial part of realising the purposes of the Act.

Achieving regulatory excellence is a significant goal, and both regulators and the parties they regulate have important roles to play.

The New Zealand Government expects that a regulatory system should deliver a flow of benefits to the country that exceeds its costs, and that a regulatory system should be an asset, not a liability.

Assets require maintenance and it is important that we maximise the long-term value of regulatory systems.

This means ensuring that systems are flexible; proportionate; fair; and easy to access and understand.

The Government expects regulatory agencies to adopt a whole-of-system view that incorporates a proactive, collaborative approach to monitoring existing systems, and which supports regulatory change.

A crucial element in doing this is to include regulated stakeholders, through supporting them to understand and meet their regulatory obligations, and by promoting opportunities for engagement and collaboration.

I am aware that efforts to achieve regulatory excellence are making a positive difference.

I am sure that this focus is continuing to be welcomed by stakeholders in the casino and Class 4 gambling sectors.

This helps to achieve negotiated outcomes and a problem-solving approach to improving compliance with regulations.

Working with our stakeholders in these ways, where appropriate, means that regulatory intervention can be better designed and unintended consequences are avoided.

Regulatory stewardship

This treatment of regulation as an asset to be sustained over the long-term reflects the concept of regulatory stewardship.

It involves looking at our environment, understanding what the future might look like, and assessing whether our regulatory systems can cope with that future.

It is a whole-of-system, lifecycle view of regulation that focuses on how we regulate, rather than the detail of what we regulate.

Shared challenges and interests

This whole-of-system approach is a way of thinking about regulatory excellence and provides a foundation on which to acknowledge our common interests and problems.

I recognise that many of the issues currently facing the casino and Class 4 gambling sectors in New Zealand are not unique.

There are many challenges and opportunities you share as regulators from across the Australasian region.

Technology in the digital age

I note that a number of the sessions will focus on digital and online forms of gambling, which is a very relevant topic in light of our shared interest in the digital space.

A regulatory future-focus is integral to responding to unprecedented, rapid growth in technology and digital forms of gambling.

While this growth creates opportunities, it also demands refined thinking about how the ways we regulate casinos and Class 4 gambling, to ensure they are fit for the future.

Despite the advantages of technological progress, the pace of change creates significant challenges for regulatory agencies.

Such tensions can expose the prescriptive nature of legislation, and may lead to more principle-based, technology-neutral legislation in the future.

Increasingly cyber-savvy customers and regulated parties expect sophisticated, easy-to-use transactions with government.

Regulators also need to be agile to respond to increasingly sophisticated use of technology by criminals and those who wish to evade regulatory requirements.

A particular challenge in the digital age will be how regulators minimise the harm that gambling can cause.

More people have the potential to access gambling outside of traditional boundaries, through digital platforms.

This is shaping the likely future of gambling.

As regulators, it is important that we have the right skills to respond to this evolution.

While online gambling is already firmly established in many other jurisdictions, we are somewhat behind the trend in New Zealand.

To be candid, we are not sure why this is and are trying to better understand the pattern.

Concluding remarks

Any thinking about regulatory excellence and establishing best-practice needs to take account of shared expertise and collective experience.

This conference is an excellent opportunity for you to connect, communicate, and learn from each other as you share your knowledge and experiences.

I encourage you all to make the most of this valuable opportunity and wish you all the best for a productive and informative few days.

I also hope you will have the chance to enjoy the sights, food and activities Auckland has to offer.

Thank you for your attention this afternoon.

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Australasian Casino and Gambling Regulators' Conference - Scoop.co.nz

COLEEN Nolan thinksWayne Rooney has a gambling problem after he lost 500,000 at a casino in two hours.

The Man United and England star, 31, who has spoken about his gambling fears in the past, ran up the bill on roulette and blackjack as he desperately chased his losses.

ITV

Today on Loose Women, Coleen expressed her worry for the football ace as the panel discussed his excessive betting spree.

She said: To me that suggests he does definitely [have a problem] because its not the first time weve been told about his gambling.

Its a problem, its not just him going, You know what Im just gonna blow half a million pounds, to me it suggests its a problem.

Getty Images

However fellow panellist Stacey Solomon said shes struggles to sympathise with Wayne who earns 300,000 a week.

She explained: Its hard for me to feel sorry for someone who can walk into a place and blow half a million pounds dont care about it.

But Coleen said his wealth shouldnt be a factor when it comes to sympathy.

You say that Stace, she said.

But what about people who go and lose 1,000 in a month and putting their whole family at risk?

Because Wayne earns a lot of money he doesnt have sympathy.

LOOSE WOMEN

The presenter then went on to reveal that she met Wayne while on holiday and he told her he rarely goes out due to the stick he gets from the public.

She explained: We got speaking to him we were staying at the same hotel, we were talking and we were saying whered you go out in Manchester and he said I dont go out because he gets so much stick

He spends most of his time at home on the XBox so a lot becomes his adrenalin rush.

On Sunday The Sun revealed he frittered away more than 4,000 a minute on blackjack and roulette during the casino losing spree.

One witness at Manchesters 235 Casino said: He was gambling a lot on red and seemed to be in his own world.

Link:

Coleen Nolan says Wayne Rooney 'definitely has a gambling problem' after he loses 500k in two hour casino spree - The Sun

Consumer protection is on the mind of the Gambling Commission, a group that is currently placing their focus on online gaming operator 888 Holdings. It was announced yesterday that a subsidiary of 888 Holdings Plc is under investigation in regard to consumer protections and if the licensee is doing their part, staying in line with UK regulations.

The Gambling Commission will use the review to determine if the 888 run business is following the social responsibility requirements by having the proper procedures in place to help bettors manage their gambling activities. One tool that should be included is a self-exclusion option where players have the ability to prevent themselves from gambling for a specific amount of time. This time frame is usually set for around six months.

The time-out feature is another tool that should be implemented, which provides gamblers with the option to take a time-out and not be able to gamble for a set period of time, like 24 hours, one week, one month or as long as six weeks.

The announcement that 888s subsidiary is under investigation has taken a toll on shares within the company. 7% was wiped away from shares taking the company down to 278p once the investigation was revealed. In regards to the review by the UKGC, 888 stated that they are dedicated to providing players with a responsible and enjoyable gaming experience and the subsidiary will be proactively engaged in the process.

Brokerage firm Peel Hunt commented on the review stating that they believe 888 to be a responsible operator but still expect the company to face a fine and changes to be made to the business in question due to the review. According to the brokerage, it seems the public process is the way the Commission prefers to regulate the gambling industry as of late. The firm feels that fines and bad publicity are part of the cost of doing business.

The Gambling Commission has been quite busy as of late revving up their focus on responsible gaming and has started to reviewoperators and even affiliates in regard to whether such regulations are being followed. Earlier this month, BGO Entertainment was given a 300,000 fine due to a review by the Commission which found nine misleading advertisements used by BGO within their website as well as on affiliate websites.

The Commission ruled that the advertisements were run from July 2015 until the same month in 2016 on their site as well as 14 affiliates sites from February 2016 until October 2016.

The License Conditions and Codes of Practice within the Commission have required that all licensed gambling operators avoid misleading customers about promotions since May of 2015 and it seems the Commission is now focusing efforts on individual companies to see if they are holding true to these requirements.

As far as the 888 investigation is concerned, the company plans on making further announcements on the matter as soon as information is made available.

888 Holdings subsidiary under investigation by Gambling Commission in UK was last modified: May 16th, 2017 by Marie Kelley

UK Gambling CommissionUKGC888 Holdingsself-exclusionresponsible gaming

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888 Holdings subsidiary under investigation by Gambling Commission in UK - World Casino Directory

MGM Resorts International is already in the New Jersey online gambling market via its ownership of Borgata. That gives the casino giant oversight of its online gambling and poker platforms in the state.

But now, MGM is bringing its own branded site to New Jersey gamblers. Will that change the dynamics for NJ online gambling sites?

First, heres what we know about MGM and online gambling.

The companyalready operates online casino and poker via its Borgata brand. It also has offerings via Pala(casino) and PartyPoker NJ.

That apparently isnt enough for MGM, however, as it has plans to roll out a site branded as playMGM. It will be much like the current Borgata platform, just with MGM branding. The site should go live some time later this year.

Its a big deal, because outside of some small-scale online slot tournaments in Nevada, MGM has never offered online gambling under the flagship banner. More from an MGM presser:

This is a historic moment for MGM Resorts to be launching real money online casino and poker under the MGM brand for the first time, said Corey Sanders, chief operating officer of MGM Resorts. GVC has been a first-rate partner for us, and we are excited about the possibilities of extending that partnership as regulated markets open up in the U.S.

The NJ iGaming marketplace already has a lot of different operators. Golden Nugget currently leads the way, while Caesars, Harrahsand Tropicana are among the best-known brands in the market.

Well, theres always room for more operators; the question is whether the effect will simply take away from existing sitesor have an additive effect. Theanswer is somewhere in the middle.

PlayMGM will cannibalize some of the existing online gambling revenue in New Jersey; a lot of existing customers are likely to move their play to the new site.

At the same time, the MGM brand is widely known in the US and in New Jersey, even without a casino bearing its name in the state. That brand recognition could create and attract new customers that didnt exist before.

The online casino market has set records for revenue in the past two months, so theres certainly a chance that the industry isnt done growing. And the addition of playMGM could spur more growth.

Weve seen new brands come into the market and succeed in the past few years; undoubtedly MGM can do the same. It simply comes at a point where the industry is more mature than during other sites entry points.

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MGMs move in New Jersey is important at the micro level. However, its even more important from a wider angle.

MGM is saying pretty loudly that it wants to be in the online gambling business in New Jersey. That means it probably wants to be in other legal and regulated markets, should the opportunity present itself. For one, it probably has its eye on Pennsylvania, which is considering legalization of iGaming.

The presence of MGMin online gambling could mean big things for the spread of online gambling beyond New Jersey. Legalizationefforts couldbenefit from MGMs lobbying.

For now, however, well look to see how MGM fares with its coming offering in the Garden State.

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Will MGM Move The Needle With Its New NJ Online Gambling Platform? - NJ Poker Online

Ottawa Sun

Gambling on a new casino at the Rideau Carleton Raceway a timeline Ottawa Sun March 2012: OLG president Rod Phillips hints Ottawa could get one of two new casinos planned in a major modernization of gaming in the province aimed at boosting provincial coffers, noting he sees a lot of Ontario plates at the Gatineau casino. Rideau Carleton Raceway set to become the Hard Rock Casino OttawaOttawa Citizen Hard Rock International Expands Casino Operations in OttawaCasino News Daily all 11 news articles »

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Gambling on a new casino at the Rideau Carleton Raceway a timeline - Ottawa Sun