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Daily Archives: January 23, 2020
How Far CF Industries Holdings, Inc. (CF) Will Fall Today – Find News
Posted: January 23, 2020 at 8:43 am
Stay Ahead of Wall Street. Find out what is happening to CF Industries Holdings, Inc. (NYSE:CF) stock today? Its price is nose-diving -1.72 points, trading at $42.53 levels, and is down -3.9% from its previous close of $44.25. The shares seem to have an active trading volume day with a reported 1420231 contracts so far this session. CF shares had a relatively better volume day versus average trading capacity of 1.98 million shares, but with a 0.22 billion float and a -2.4% run over a week, its definitely worth keeping an eye on. The one year price forecast for CF stock indicates that the average analyst price target is $52.1 per share. This means the stock has a potential increase of 22.5% from where the CF share price has been trading recently.
During the recent trading session for CF Industries Holdings, Inc. (NYSE:CF), the company witnessed their stock drop by $-2.84 over a week and tumble down $-5.7 from the price 20 days ago. When compared to their established 52-week high of $55.15, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/08/19. The recent low of $38.9 stood for a -22.89% since 08/03/19, a data which is good for most investors who are looking to take advantage of the stocks recent rise. A beta of 1.04 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for CF Industries Holdings, Inc., the two-week RSI stands at 31.24. This figure suggests that CF stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CF readings is similarly very revealing as it has a stochastic reading of 15.47% at this stage. This figure means that CF share price today is being overbought.
Technical chart claims that CF Industries Holdings, Inc. (CF) would settle between $45.34/share to $46.42/share level. However, if the stock price goes below the $43.69 mark, then the market for CF Industries Holdings, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $43.12 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.75. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Bernstein lowered their recommendation on shares of CF from Mkt Perform to Underperform in their opinion released on December 10. BofA/Merrill analysts bumped their rating on CF Industries Holdings, Inc. (NYSE:CF) stock from Neutral to Buy in a separate flash note issued to investors on November 25. Analysts at Cowen are sticking to their Outperform stance. However, on September 26, they lifted price target for these shares to $62 from $59.
CF equity has an average rating of 2.92, with the figure leaning towards a bullish end. 16 analysts who tracked the company were contacted by Reuters. Amongst them, 8 rated the stock as a hold while the remaining 8 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 7 analysts rated CF Industries Holdings, Inc. (NYSE:CF) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the companys stock.
Moving on, CF stock price is currently trading at 17.7X forward 12-month Consensus EPS estimates, and its P/E ratio is 20.3 while for the average stock in the same group, the multiple is 19.6. CF Industries Holdings, Inc. current P/B ratio of 3.2 means it is trading at a premium against its industrys 1.3.
CF Industries Holdings, Inc. (CF)s current-quarter revenues are projected to climb by nearly -7.7% to hit $1.04 billion, based on current consensus estimate. The firms full-year revenues are expected to expand by over 4.6% from $4.43 billion to a noteworthy $4.63 billion. At the other end of the current quarter income statement, CF Industries Holdings, Inc. is expected to see its adjusted earnings surge by roughly 38.1% to hit $0.29 per share. For the fiscal year, CFs earnings are projected to climb by roughly 77.4% to hit $2.2 per share.
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How Far CF Industries Holdings, Inc. (CF) Will Fall Today - Find News
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What This Year’s Election Will Mean For Gambling In The US – Poker News – CardPlayer.com
Posted: at 8:42 am
With a new decade comes a large amount of uncertainty in political spheres. Not only is there the ongoing split between the UK and EU on Brexit terms but there is also a vast amount of uncertainty in the U.S with the upcoming election and who will be running the country. In this article, we will be looking into what this year election will mean for gambling and how this could affect the industries future in the United States.
The Views Of The Republican Party
The republican party under the current administration has come under vast amounts of scrutiny in recent months as they begin to place unnecessary strain on online lotteries and other gambling platforms. This crackdown in 2018 was as a direct result of the Interstate Wire Act of 1961 that prohibits bets or wages to be transmitted over wires. Though the attempt to regulate online gambling is something that the Trump administration has implemented, its persecution has recently been put on hold due to a new ruling in New Hampshire to legalise gambling such as this following in the footsteps of other states that have since legalised online gambling.
In addition to this, there is increased pressure from some of the republicans main backers such as casino billionaire Sheldon Adelson. This billionaire supporter is in a crusade against internet gambling claiming that he will spend whatever it takes to support the ban against online gambling. This was then also backed up by Lindsey Graham and Jason Chaffetz who have introduced the Restoration of Americas wire act to the senate. This bill outlines the expansion of the 1961 bill to include phone and wire waging to also include internet gambling in all its forms.
The Opinions Of Democratic Party
However, the opinion of the democratic party is quite the opposite as the front runner Joe Biden speaks to crowds in Las Vegas towards the end of 2019 about his support on the matter. This comes just a few weeks after fellow candidate Andrew Yang expressed his support for legal online gambling across the United States. This comes at a crucial time for this party during the election as the Office of Legal Counsel begin to implement the wire act to all forms of interstate gambling.
When asked about his support of online gambling in July of 2019, Biden said: I would reverse the White House opinion that was then reversed and overruled by the court. The court is correct. That should be the prevailing position.
The former vice president and current front runner appear to be making a vast amount of ground when working towards a safe, corruption-free and fair online gambling environment for those that wish to use it.
Despite the differing opinion of the different parties, the future of online gambling in the United States remains undetermined. However, it is the Democratic party that is likely to openly support online gambling during this presidential race, however, this is a difficult time for many as the legislation is still in place under the leadership of the Trump Administration as they continue to crack down on this new wave of online gambling.
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Reformed gamblers fear state could see surge in problem gamblers if mobile sports betting legalized – SILive.com
Posted: at 8:42 am
CITY HALL -- Gambling consumed the life of reformed gambler Gerald to the point where he had multiple loan sharks chasing after him and would borrow money from one loan shark only to pay the other.
He started buying baseball cards as a kid in the hopes of getting the most valuable cards to sell, and from there, he moved on to betting on football sheets in high school.
Ive had weeks where I won $20,000 to $30,000 and I would lose every dollar of it the next week, said Gerald, whose name the Advance changed at his request to protect his identity. Even the wins, they were short-lived. It gets to a point where you gamble so much the only reason you want to win is just so you can have more money to keep gambling.
With the state legislators back in Albany for the 2020 legislative session, some think legalizing mobile sports betting is key to filling the $6 billion budget shortfall facing the state.
But problem gamblers like Gerald fear legalizing mobile sports betting could get kids addicted to gambling at an early age.
Is it a good idea for them [to legalize mobile sports betting] to make money? Yes, it is, Gerald said. Is it morally right? Thats the question.
LAWMAKERS LOOK TO LEGALIZING MOBILE SPORTS BETTING TO FILL $6B STATE BUDGET DEFICIT
Mobile sports betting may not have made it through the state Legislature last year, but with New York facing a $6 billion budget shortfall, state lawmakers behind the push to legalize online sports betting think 2020 could be the year its legalized.
Last year, a bill that would have legalized mobile sports betting passed in the Senate but was not taken up for a vote in the Assembly.
That legislation last week advanced in the Senates Finance Committee, said Queens Democrat State Sen. Joseph Addabbo Jr., the bills sponsor.
Addabbo recently spoke to Gov. Andrew Cuomos legal counsel about the bill and said they did not say legalizing mobile sports betting would be a nonstarter this year.
Addabbo said he is hopeful the governor will include legalizing mobile sports betting in his executive budget later this month.
Apprehensions for gaming aside, there is a need this year thats unique that we didnt have last year, and thats the need to address the budget deficit and the revenue, Addabbo said.
If Jerseys making on average $30 million a month, just in terms of mobile sports betting, I think because we are New York, we can do it much better than New Jersey, he continued, adding that many New Yorkers are already making the trip to New Jersey to place online bets.
CUOMOS STANCE UNCLEAR
For now, its unclear where the governor stands, his office did not respond to requests for comment about his position on mobile sports betting, but the governor has previously had constitutional concerns about legalizing mobile sports betting.
The bills sponsor in the Assembly, Democrat Gary Pretlow, thinks Cuomo will be the biggest obstacle in moving the measure forward.
Hes not interested in doing right now, Pretlow said. I want the Legislature to put it on the table, if we put it on the table and recognize that theres going to be close to a billion dollars in revenue, that will take care of some of the cuts that were going to have to have if theres going to be a $6 billion deficit.
MORE GAMBLERS SEEKING HELP
Right now, sports betting is only legal in-person at four casinos upstate.
According to an internal report obtained by the paper, the number of sports-betting calls the states addiction helpline received before sports betting was legalized in 2018 was about 1 to 5 percent, but a year later, that figure jumped to nearly 11 percent.
Late last year, Richmond University Medical Center expanded to a new headquarters in Bloomfield with the hopes of treating the estimated 5,000 problem gamblers around the Island.
The Executive Director of New Jerseys Council on Compulsive Gambling, Neva Pryor, warned that placing bets on online apps was like having a casino in your back pocket.
Steve Block, a retired gambling counselor of 30 years from Eltingville, thinks the state is taking the precautions needed to help problem gamblers if the mobile sports betting is to be legalized.
But he thinks other measures are needed too.
Block said courts should consider diverting convicted problem gamblers to a gamblers court where convicted problem gamblers can enter into gambling addiction treatment rather than face jail time, are needed too if the state moves to legalize mobile sports betting.
Gambling could be shown the same consideration, its just a question of the district attorneys office to get on board to include gambling as an alternative sentencing, Block said.
Right now, the bill thats being considered in the Senate includes provisions to establish a gamblers treatment hotline as well as put together an annual report on problem gamblers under the age of 30.
A SOURCE OF REVENUE
Since sports betting was legalized in New Jersey in 2018, the state has generated more than $3 billion in gaming revenue to date, according to the states latest figures.
In 2019, the Garden State raked in a combined $782 million from revenue from sports wagering and internet gaming alone.
And in a years time, more money was spent on sportsbooks in New Jersey than in Nevada, according to ESPN.
In New Jersey, the states gambling hotline saw a surge in gamblers calling to report a sports-betting problem, The New York Post reported.
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Gambling regulations in Florida – The Apopka Voice
Posted: at 8:42 am
Gambling regulations vary significantly across countries around the world, as well as within individual states in the US where the differences in approach from place to place can be especially stark.
So what is Floridas stance on this pastime and how do the state-approved regulations stack up against other regions?
Like the majority of states, there are fairly significant restrictions in place in Florida when it comes to land-based gambling.
The only places where casinos can operate legally in the state are lands belonging to native American tribes. The most significant concentration of casinos can be found on reservations occupied by the Seminole tribe, meaning that most Floridians need to make a trip specifically to visit these regulated gambling houses.
There were some workarounds that people found to gamble in Florida without incurring the wrath of the authorities, chiefly by taking cruise ships out from Miami and into international waters to allow all sorts of unmitigated wagering. However, since these were banned in 2016, locals and visitors to the states most famous city have been limited to playing slots at the handful of pseudo-casinos that do have licenses to operate within its borders.
Other restrictions on once-legal gambling practices have also been rolled out in recent years, including a ban on greyhound racing which caused controversy. Horse racing and associated gambling activities is still legal, with venues across the state offering this experience, so long as bets are placed on-site.
Like many other states, the way that regulations in Florida relate to online gambling is somewhat ambiguous. It is neither expressly prohibited for people to play at any online casino in Canada or any other overseas territory has to offer, but neither is it definitively permitted.
One certainty is that running an online casino which is based in Florida itself is not currently legal. This is why players need to look to sites that are hosted and run in other parts of the world if they want to get their fill of web-based gambling action.
Of course, this all means that Floridians can play almost any game they want online using their smartphone or tablet, including everything from slots titles to table games like poker and blackjack. And with so many competing casino sites to consider, this gap in the regulations allows for plenty of wiggle room.
At a time when Florida seems to be clamping down on gambling activities, at least in their land-based form, the rest of the US is undergoing something of an upheaval, or at least an anticipation of possible changes to come.
This is all based on a Supreme Court ruling made in 2018 which effectively meant that an outright ban on sports betting was not something that could be enforced at a federal level. In short, this gave states the power to decide for themselves whether or not they should open things up and let citizens and visitors place wagers on the outcome of sporting events.
So far, Florida and a number of other southern states have not yet pursued this avenue. This is not solely because of ideological opposition to sports betting, even though there is a degree to which this is the motivation; it also comes down to business.
Because of the way that gambling is regulated and parcelled out in Florida already, any significant change like this would ruffle the feathers of existing operators, especially those found on tribal land. Some argue that this might lead to a domino effect towards state-wide legalization, which would have its own social problems even if it also led to a windfall in terms of taxation.
Time will tell whether Florida decides on a regulatory shake-up in relation to gambling, and which way this shift might tip.
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Britains betting industry is out of control. A new gambling act must curb it – The Guardian
Posted: at 8:42 am
Not a day goes by without another horror story about gambling. A familiar theme now dominates the front pages: for too long, the betting industry has encouraged excessive spending, exploited vulnerable people, and failed to tackle money laundering or protect its customers.
Gambling has become a canary in the coalmine of our economy. It is now embedded in every aspect of our lives: our banks, high streets, television screens and football teams. When we talk about gambling, we enter a vast world that spans questions from addiction and isolation to market failure and machine learning. It is a world that stretches the limits of the relationship between freedom and the protection of the state. And, in the breakdown of that relationship, many people have been harmed.
Research suggests that there are just under half a million problem gamblers who have their lives damaged by debt, depression, family breakdown and, in the worst cases, suicide.
The stories stack up. The Guardian recently showed how one operator profits from a company that treats gambling addicts. Similar scandals have highlighted the industry use of VIP schemes, and the fact that some FA Cup games have been exclusively streamed via betting giants such as Bet365.
These stories have led to outrage. Figures from John Simpson to Gary Lineker have joined the condemnation, with Lineker calling the Bet365 story all kinds of wrong.
Politically, the outrage has led to a cross-party consensus that it is time for change. Early voices in parliament for reform, such as Tom Watson, Tracey Crouch and Carolyn Harris, have been joined by a coterie of support from all sides, including the former Conservative leader Iain Duncan Smith, the prime ministers trade envoy Richard Graham and the SNPs Ronnie Cowan. There has also been a Lords inquiry into gambling, an all-party parliamentary group inquiry into gambling-related harm, and material published by the Department for Digital, Culture, Media and Sport select committee. Echoing both the Labour party and campaigners, the government has just committed to a review of the 2005 Gambling Act.
The last major gambling review was conducted in 2001 by Alan Budd, a founding member of the Bank of Englands monetary policy committee. Budd worked on the premise that a balance could be struck between economic freedom and social protection. This was the right question to ask at the time, but since 2001 the world has experienced technological change that Budd could not have foreseen.
A review of the 2005 act will require a Budd report fit for the digital age. It will face four big challenges.
First is the question of its premise. Budd sought a balance between the freedom to gamble and protection from harm. Technological change is mentioned, but the report could not have foreseen the rise of smartphones and social media let alone recent developments in data analytics and algorithmic intelligence. A new review must be based on a premise that incorporates the reality of machines as well as humans and the market. Todays gambling landscape is less about casinos and seaside piers and more about computer random number generators, in-play betting and hybrid, often predatory, online forms of product and marketing.
Second is the question of scope. The 2005 act reads like a Victorian novel. It categorises and it promulgates, it espouses key concepts in subclauses. It is a hefty tome. There is an argument that new legislation should be leaner and agile enough to respond to innovation and change. In other words, a new review should be more novella than novel.
Third is the question of time. The Budd report took over a year to write and was published in 2001. The act became law in 2005 and was fully implemented in 2007. The whole process took the best part of a decade. If the same happens now, then by the time a new act comes into effect, in 2027, the industry will have changed beyond recognition, with new products, new markets and new types of currency. It is important that a new review does not create a similar delay.
Fourth is the question of scale. Because of the risks of scope and time, there is an argument that instead of One Single Big Act, a series of smaller interventions could be drafted around specific questions not dissimilar to the approach taken in the shorter 2014 act on online gambling. The advantage to this approach would be that it ensures leanness and agility. The disadvantage would be that it risks being piecemeal.
None of these four challenges will be easy to resolve. A new review will require someone of the stature and integrity of Alan Budd to lead it, and its success will depend on the quality of the relationship between the Department of Health, the Treasury and if the rumours in Whitehall are true whatever is about to replace DCMS.
But if the government does get this balance right, then there is no reason why the horror stories of recent years cannot be transformed into a foundation for positive change, turn Britains regulation of gambling into an example to the world and allow us to redefine what we mean by gambling in the 21st century.
James Noyes is a former adviser to Tom Watson and fellow of the Social Market Foundation
Free help and advice about problem gambling is available online at BeGambleAware.org or by calling the National Gambling Helpline on 0808 8020 133
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Britains betting industry is out of control. A new gambling act must curb it - The Guardian
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Amy Roberts: Utah would be better off legalizing gambling than taxing us to death – The Park Record
Posted: at 8:42 am
I think it was Benjamin Franklin who made the quip about death and taxes being the only two things in life that are certain. The Utah Legislature seems hellbent on doing both in one swift and sweeping motion taxing us all to death. At least theyre efficient.
Last December, the group of painfully out-of-touch lawmakers approved a tax reform package, which includes a new or increased sales tax on food, gasoline, and services like home repairs and maintenance as well as pet grooming, streaming media, Uber rides, and more.
Lawmakers have promised these new taxes will be returned in form of cuts to income taxes, which is usually code for tax breaks for the rich. But what is especially concerning with this plan is that in Utah, income taxes are used to fund education. So if theres less income tax being collected, its logical to assume there will be less money for education. Given Utah ranks last in the country for per student spending as it is, this probably isnt in the best interest of anyone currently not homeschooling their children. The most interesting part of this tax reform package is what it doesnt include cuts to government spending. Except of course, in that roundabout way of cutting spending on education. But heres the most insane part: The bill increases the per-child exemption from $565 to $2,500. As if Utahans needed more of an incentive to breed.
The state cant seem to adequately fund education, has zero plans for making the air throughout the valley less toxic, our infrastructure is crumbling, theres a mass shortage of affordable housing, and a significant increase in homelessness. I would argue this money would be far better spent attempting to solve these issues rather than creating more humans to exacerbate the problems.
There is recent evidence that legalizing adulthood is actually good for the economy.
Almost as soon as this tax reform package was approved, a referendum campaign was launched by opponents. My deadline for writing this is one day sooner than theirs for turning in the 116,000 signatures required to get the referendum on the November ballot, which would allow the public to vote on the Legislatures tax overhaul bill. So theres a chance the above described mess isnt final yet. And if thats the case, I hope lawmakers spend the next few months considering proven and viable ways to increase revenue without penalizing people who need to eat in order to survive.
Its a long shot considering the piously tone-deaf group, but there is recent evidence that legalizing adulthood is actually good for the economy. When Utah finally allowed grocery and convenience stores to sell real 5% beer last fall, beer sales in Wyoming, Idaho, and Nevada border towns dropped by roughly 30%. Instead of driving across state lines and bootlegging beer, residents spent their drinking money in Utah. The same economic boost could, would, and should happen when it comes to lottery tickets.
Utah is one of only a few states that hasnt figured out the ROI from scratch-off cards and the Powerball. The instant-gratification that comes with scratching a ticket would mean lawmakers no longer have to scratch their heads over how to fund education and other critical needs.
According to the North American Association of State and Provincial Lotteries, last year Americans spent about $85 billion on lottery tickets, with some states adding over $6 billion to their bottom lines. State governments have control over how the revenue is spent, with most allocating funds to education, infrastructure, green space initiatives, elderly assistance, general funds, social programs for the homeless, healthcare, criminal justice, and other government programs.
Considering 43 other states and the District of Columbia enjoy this income-generating side hustle, you have to wonder when Utah lawmakers will do the math. Or perhaps theyre enjoying their own side hustle and pocketing money from lobbyists in Wendover and Evanston. If we ever make being an adult legal in this state, it will destroy the economies of those border towns.
Amy Roberts is a freelance writer, longtime Park City resident and the proud owner of two rescued Dalmatians, Stanley and Willis. Follow her on Twitter @amycroberts.
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Gambling breakthrough in Germany? Regulated online casino may be on the way! – Lexology
Posted: at 8:42 am
Currently, German law on the face of it prohibits online casino (and, in certain circumstances, online betting) but unregulated gambling on the internet still booming. Most of the providers have licenses in Malta, Gibraltar or on the Isle of Man and argue that, based on EU freedom of services principles and the alleged incompatibility of German gambling laws with EU law, they can provide their services to German customers. The German Federal Administrative Court has rejected such argumentation in 2017, but in the meantime the offers and advertising of the providers have been tolerated to some extent, and have been subject to German VAT.
Now, there seems to be movement in a new gambling legislation process in Germany. The German Press Agency (dpa) has reported a breakthrough in the negotiations of the German Federal States. It is reported that the Prime Ministers of the Federal States have reached an agreement and plan to allow online casino and sports betting. The plans, however, including strict rules on the protection of the players.
The leaked plans are as follows:
The gambling providers must still exercise some patience. The process continues with hearings of the professional associations. In March, the Prime Ministers will need to agree to the new Gambling Treaty which needs to be ratified in all German Federal States. The new Gambling Treaty would then enter into force on 1 July 2021 when the interim treaty ends.
The new direction is clear, although the details might still be subject to changes, and the tax rates are not yet known. Its therefore time for the gambling providers to start preparing for a regulated German online casino market.
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Gambling revenue in Pennsylvania hits record high – TribLIVE
Posted: at 8:42 am
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Gambling tycoons getting rich on misery of others is a sign of the times Kenny MacAskill – The Scotsman
Posted: at 8:42 am
Gambling has been normalised as governments have failed to respond to the dangers on betting online, writes Kenny MacAskill.
The curse of gambling has struck another football figure with the Hamilton Accies manager facing charges. Hes not the first and wont be the last despite strict guidelines from football authorities. Sadly, it seems a culture amongst many in the game, along with a love of golf.
The games supremos though arent blameless as theyve allowed gambling to replace alcohol as the sports principal sponsor. Its almost impossible to watch a major fixture now, whether youre pitch side or watching on the telly, without wall-to-wall intrusion from the betting industry. Shirt logos, trackside advertising, competition sponsorship or interval ads all seem to blast out bet now and bet often.
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Focus is on the sport because of the well-known characters and their travails. However, to be fair to all in the game, whether the responsible authorities or recalcitrant individuals, its a wider societal issue. For gambling has become normalised and, along with alcohol and drugs, this social ill has been allowed to develop.
Now thats not to say that gamblings immoral or wrong in any way. Each to their own, I say, and though Ive never placed a bet I buy raffle tickets and know many who enjoy and wager or flutter. Its perfectly reasonable and perfectly normal and, as with other addictions, its when its taken to extremes that the problem arises.
Part of daily routine
But as gambling has changed, the regulations havent moved with it though and therein lies the problem. Alcohol and drugs, even cigarettes, are tightly regulated in sale and promotion but gambling is almost running free.
Is it any wonder that young people I know consider it routine to place a bet on the way to work, as others buy a latte, when betting shops are on every corner enticing you in? Long gone are the forbidden and even foreboding bookies of old where many people feared to venture, either from an almost intimidatory atmosphere or just social opprobrium that might follow.
However, as in other walks of life, its the internet thats changed everything. Now you dont even need to get out your bed and head to work, as you can do it lying in your kip and on your phone.
As a result, the levels have increased, and the nature of whos betting has changed. No more is it just wee men with flat bunnets, now its women and all ages and classes. The amount of what you can bet has increased exponentially as the restrictions of available cash are changed by available credit.
Consequently, the social casualties have increased and not just on the football field. Ive a close relative who works in the fraud department of a major bank. He tells me that numerous claims are made by desperate people, many are women who have got into difficulties through gambling. The cause of their woe though isnt fraud by others but expenditure by them. Its evident for staff to see as the screens display accounts and expenditure of months and years and their pitiful plea fall on deaf ears.
Getting rich on misery
But its an addiction thats been fuelled and to which they have succumbed as others have to drink or drugs. They need help not just to stop but from getting into harm in the first place and thats where government has failed.
The betting industry has got rich on the misery of others. The most nauseating example of that was Denise Coates, the chief executive of Bet365, who last year was paid a staggering and UK-record corporate salary of 323 million. Even the firm names testifies to the normalisation of a pastime that never stops even for holidays or when its outwith office hours. For sure, shops and venues such as racecourses are heavily regulated but thats rarely where the problem lies now, and the regulatory regime hasnt followed.
Online gambling, like online shopping, appears to be the law of the jungle. Multinationals exploiting everyone, whether staff or punter, paying their executives fat salaries, yet diddly squat in tax.
Action needs to be taken but in doing so we need to know the extent of the problem. Some information is out there but much isnt. We record crimes that are aggravated by alcohol or drugs, yet not those perpetrated by desperation through a gambling addiction. Doctors record afflictions linked to the former but rarely the anxiety or stress caused by the latter. Maybe its time we started doing that and taking other steps to understand the scale of the problem we face.
But some arent just getting rich on the cause but on the affliction, adding insult to injury. The owners of Betfred make millions from Government contracts including treating gambling addiction. Theyre Tory party donors would you bet theres a link?
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Betcris retained as official gambling partner of CEBL – SBC Americas
Posted: at 8:42 am
Latin American sports betting firm Betcris has renewed its existing agreement with the Canadian Elite Basketball League (CEBL) to continue as its official gambling partner. The renewal will see the two entities extend their partnership for one more year, enabling Betcris to continue delivering betting experiences to CEBL fans on its many digital platforms.
Mike Morreale, commissioner and CEO of the CEBL, explained: Extending the partnership with Betcris is an excellent example of working with a partner that values the CEBL, and the excitement and entertainment that the league brings both on and off the court.
Under the terms of the current deal, the CEBL provides real-time scores, game statistics, previews, and player data through its software, FIBA LiveStats, to Betcris. All throughout this 2020 season, this data will help Betcris prepare betting features on every platform to ensure fans have access to accurate data for league wagers.
Morreale added: As the online betting landscape continues to expand, we look to continuously provide our fans with additional entertainment options before, during, and after the game with a world-class partner like Betcris.
The CEBL runs during spring and summer seasons, featuring world-class quality professional basketball and entertainment for all fans across seven cities in Canada. This upcoming season comes with a new addition to the league, the Ottawa BlackJacks. This means that the league will now have seven teams total, increasing the number of games from 60 to 75.
Betcris CEO JD Duarte commented: This renewal marks an important step in the growth of our operations, as it demonstrates our commitment to being a key player in the gaming industry. Were proud to be partnered with the CEBL and look forward to a long and productive relationship.
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Betcris retained as official gambling partner of CEBL - SBC Americas
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