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Monthly Archives: February 2022
Bills Introduced in Singapore Parliament to Remodel Gambling Regulations – JD Supra
Posted: February 17, 2022 at 7:52 am
Two bills introduced for First Reading in the Singapore Parliament on 14 February aim to address the evolving landscape of gambling in Singapore. Specifically, the Gambling Regulatory Authority of Singapore Bill expands the mandate of the Casino Regulatory Authoritya statutory boardby reconstituting it to establish the Gambling Regulatory Authority, while the Gambling Control Bill updates gambling laws and regulatory approaches.
In April 2020, the Ministry of Home Affairs (MHA) announced that it would reconstitute the Casino Regulatory Authority (CRA) to establish the Gambling Regulatory Authority (GRA), which would regulate the entire gambling landscape in Singapore, and look into amending all gambling legislation by 2021 to effectively address evolving gambling products and business models. In July 2021, the MHA carried out a public consultation on certain proposed amendments to the existing gambling legislation to expand the definition of gambling to be technology-neutral, increase the regulation of games with gambling elements, and relax regulations on social gambling.
The press release published by the MHA on 14 February relating to the First Reading of the Gambling Regulatory Authority of Singapore Bill (GRA Bill) and the Gambling Control Bill (GC Bill) noted that the Singapore government adopts a strict but pragmatic approach toward gambling that aims to minimise its social harms and maintain law and order. The press release stated that gambling is prohibited unless licensed or exempted, and that some forms of gambling are allowed in a controlled and safe environment, as total prohibition would drive even more gambling underground.
The MHA noted that the new draft laws seek to address two trends in the gambling landscape: (1) advancements in technology (e.g., internet and mobile computing) that have made gambling products more accessible, and (2) the blurring of boundaries between gambling and gaming and the introduction of gambling elements in products that are traditionally not perceived as gambling.
Gambling regulation in Singapore is currently overseen by various government agencies. The CRA regulates the land-based casinos, the Gambling Regulatory Unit in the MHA regulates online gambling services and fruit machines, while the Singapore Totalisator Board regulates physical gambling services operated by Singapore Pools. The Singapore Police Force is responsible for enforcement, while the Ministry of Social and Family Development is responsible for social safeguards to address the harms of gambling.
However, under the GRA Bill, these government agencies will be rationalised and consolidated, and the GRA will become the single regulator for all forms of gambling. This is for the purposes of staying ahead of technological and global trends, responding more adequately to emerging gambling products, and taking a more holistic and coherent approach to gambling policies and issues. The GRA is expected to be established by mid-2022.
The existing gambling legislation in Singapore will be amended as follows:
Definition of Gambling
The GC Bill will amend the definition of gambling to make it technology-neutral to cover existing and emerging gambling products. For example, the scope of betting will go beyond horseracing and sporting events to include the outcome of any competition, event, or process. However, the expansion of the definition will not cover products that MHA has no intention of treating as gambling products (e.g., investments in financial products already regulated by the Monetary Authority of Singapore through other legislation).
Social Gambling
Social gambling is not prohibited by current gambling legislation but is also not clearly defined. The GC Bill will specifically include an exemption regime for social gambling among family and friends conducted in homes, subject to certain conditions (e.g., participants must be members of the same family or friends, the gambling cannot be conducted in the course of any business, and it must take place in an individual's home). However, the exemption will not apply to online social gambling, as it would be difficult to establish if individuals are sufficiently and meaningfully acquainted with each other in the online context to qualify as social gambling.
Licensing Regimes
Under the GC Bill, the GRA will take over regulation from the different governing agencies for key gambling products. The GRA will be empowered to issue gambling operator licences for products such as fruit machines, Singapore Pools products (both physical and online), and gambling at private establishments.
The GC Bill also introduced class licensing regimes for lower-risk gambling products. Operators offering such products will not need to be individually licensed, but the GRA will maintain oversight and introduce safeguards to ensure that such products do not induce gambling behaviour and cause social problems. For example, it is intended that a class licence will be required for mystery boxes sold by retailers subject to the retail value of prizes being capped at $100. Details on the conditions for each class-licensed activity will be released when the relevant subsidiary legislation is available.
Penalties for Unlawful Gambling
The GC Bill rationalises offences and penalties across the existing pieces of gambling legislation. A three-tier penalty structure will be applied consistently for both unlawful online and physical unlawful gambling activity, and differentiates between punters, agents, and operators. The highest penalties will be imposed on operators, followed by agents and then punters (in order of culpability).
Penalties for unlawful gambling will also be increased to send a strong deterrent signal to criminal syndicates. The GC Bill imposes mandatory imprisonment for agents and operators of unlawful gambling activities and will also feature higher penalties for repeat offenders who facilitate or operate unlawful gambling services.
New Offence of Proxy Gambling
Proxy gambling in casinos and fruit machine rooms will be criminalised under the GC Bill. Proxy gambling refers to individuals within the gambling area acting on the instruction of a decision maker outside the gambling area. This will be prohibited, as the decision maker would have bypassed the entry checks put in place to screen out individuals of concern such as those under entry bans.
Offences Pertaining to Underaged Individuals
Under the GC Bill, the minimum age for gambling will remain at 21 years old, except for gambling at Singapore Pools physical outlets, which will remain at 18 years old. Two social safeguard offences pertaining to underaged individuals will be introduced. Firstly, it will be a criminal offence for underaged individuals to gamble, whether with legal or unlawful operators, and secondly, it will be a criminal offence for underaged individuals to enter gambling areas (except where entry checks are not required). Singapore Pools physical outlets are excluded from this offence as they are not required to conduct entry checks. These outlets are open areas with easy access, and underaged individuals may enter unknowingly with no intention to gamble.
Offences Pertaining to Excluded Individuals
Offences pertaining to excluded individuals will be introduced under the GC Bill. Such excluded individuals will not be permitted to gamble or enter gambling areas across all platforms and locations where exclusion orders imposed by the National Council on Problem Gambling exclusion are applicable (i.e., fruit machine rooms and Singapore Pools online gambling). This offence, however, will not apply to individuals under self-exclusion orders, to avoid deterring such individuals from applying for this exclusion. Operators that gamble with underaged or excluded individuals, or that allow such individuals to enter gambling areas, will be liable for an offence or disciplinary action by GRA.
Offences Related to Advertising and Promotion
Presently, the threshold for proving an Advertising and Promotion (A&P) offence is lower for unlawful online gambling under the RGA compared to unlawful physical gambling under the BA and CGHA. For online gambling, an A&P offence can be disclosed even if there is no online gambling involved. On the other hand, for physical gambling, the A&P offence must be linked to actual unlawful physical gambling activities. Existing laws in this respect will be updated to apply consistent treatment to A&P offences across gambling modalities, based on the current thresholds for online gambling.
The draft legislation introduced by the GRA Bill and the GC Bill is wide-ranging and will have significant implications on all gambling operators. It constitutes a new statutory board to regulate the entire gambling landscape in Singapore, creates new gambling offences, increases penalties for unlawful gambling (both physically and online), and introduces a licensing regime for all gambling products, including a form of class regime for online games that allow users to get items with monetary value by chance (e.g., mystery boxes). Operators of land-based casinos and operators of online games with gambling elements will need to carefully monitor the passing of the GRA Bill and the GC Bill and consider the effects it will have on their operations. For example, operators of online games with gambling elements (e.g., mystery boxes) may fall under the class licensing regime and may need to make adjustments to ensure that their operations abide by the conditions and safeguards that will be imposed.
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The online casino market in Canada – Aviation Analysis Wing
Posted: at 7:52 am
Playful, attractive, the online casino is attracting more and more players. The Internet has dusted off and modernized the image of the Casino. Today, we no longer need to risk our savings on a blackjack table, rather we can play directly from home on very sophisticated virtual machines. The online gambling market in Canada is booming. Today, gambling enthusiasts who wish to play from home face a major problem: the online casino offer in Canada is very large and you can quickly feel lost. You only need to do an internet search to find an online casino in Canada to realize the diversity on offer. Here we help you to better understand the online casino market in Canada so that you can choose the site that best suits your needs.
In Canada, the online casino casino market has existed since 1994. The Kahnawake Gaming Commission was the first institution in the world to issue licenses for online casinos. Canadian law regarding regulations related to online gambling is very strict. These sites also respect the laws of other countries. Thus, since French law does not allow online gambling other than poker and sports betting, a French resident will not be able to play online casinos in Canada. There are over 100 online casinos in Canada today.
The choice is so vast that it is very easy to feel lost when looking for an online casino in Canada. To help you, there are various online casino review sites available for Canadian players. However, it is best to adopt your own criteria depending on the requirements. We know that players preferences towards bonuses and games are very different. However, there are many points that no player can skip like:
Fraudulent casinos impersonate all appearances of trusted casinos. They are like wolves in sheeps clothing! Although it is difficult for novice players to identify a fraudulent casino from the surface, you will be able to spot a fraudulent casino easily based on the following criteria:
Indeed, the online casino has many advantages compared to its older physical brother:
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Opinion | The Rise of Big Tech May Just Be Starting – The New York Times
Posted: at 7:52 am
Consider, for instance, Apples services business a division that includes, among other things, its App Store, Apple Pay, iCloud and its music and TV subscription plans. Traditionally Apple has made a huge amount of money from selling hardware. But iPhone sales have gone up and down over the past half decade, which makes sense; eventually everyone who wants an iPhone will have an iPhone, and with each new iPhone only slightly better than the last, people will have fewer reasons to upgrade. Indeed, iPhone sales in Apples holiday quarter in 2021 grew by 9 percent over 2020 solid, but nothing like the growth Apple once saw with the iPhone.
And so Apple has increasingly turned to subscriptions and other online services for growth essentially a way to grow not just by selling more iPhones, but by getting more money from each iPhone user. The plan is working spectacularly well. Apple reported that during 2020 its App Store billing and sales revenue grew by 24 percent over the previous year. Luca Maestri, Apples finance chief, told investors last month that the company now has 785 million paying subscribers to its various offerings a number that grew by 165 million in the past year. For some perspective: Netflix has about 222 million subscribers in total.
You see a similar trend across the industry Big Techs not just getting more customers for its traditional businesses, but is expanding its ancillary businesses in ways that seem impossible. Amazon, for example, is not just an indomitable retailer and the largest cloud services provider (its Amazon Web Services cloud business now has a $71 billion annual revenue run rate). The company also disclosed that its advertising business generated $31 billion in revenue in 2021, while Microsoft said its ad revenue exceeded $10 billion. Remember that ads are, in the scheme of things, a small part of the business for both companies Amazons $31 billion ad business is not even 10 percent of its annual revenue. And yet it dwarfs companies whose entire business is mainly ads Snap, for example, which had $4 billion in revenue in 2021, or Pinterest, which sold less than $2.6 billion in ads.
Dan Ives and John Katsingris, analysts at the investment firm Wedbush Securities, wrote in a recent report that what we are seeing now is only the beginning of a long-term explosion in tech earnings. They estimated that companies would spend a trillion dollars on cloud services over the coming years, meaning that there is a lot more room for tech companies to keep growing and growing and growing. Apples services business alone could be worth $1.5 trillion, Ives has estimated. He and other pundits have called the coming investment boom in tech the Fourth Industrial Revolution.
That sounds grandiose. And yet its hard to see what stands in Big Techs way. Lawmakers and regulators have expressed alarm over tech behemoths market power, but with the midterm election looming and Republicans and Democrats still at odds over what exactly to do to curb tech giants power, the window for new antimonopoly policy might be shrinking.
I wonder if a few years from now well say that when it came to anticipating the future for Big Tech, we werent thinking big enough.
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Opinion | The Rise of Big Tech May Just Be Starting - The New York Times
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Trends in the top gambling countries in the casino industry – Travel Daily News International
Posted: at 7:52 am
In recent years and especially during the COVID-19 pandemic, the gambling industry has blossomed. The modern world has brought us something we didnt think was possible before the option to play from the comfort of our homes in top-rated casinos like Casino Kingdom. Nowadays, players have two options when it comes to playing casino games they can visit a land-based casino or play online.
The industry is changing on a regular basis. Online casinos have created bonuses like never before, introduced cryptocurrency in their list of banking methods, and are growing in number all the time. People who enjoy gambling have many opportunities to do what they like thanks to hundreds of software developers that create thousands of casino games for them. Right now, you can play at the best-rated online casino Ireland and claim bonuses up to thousands of dollars, not to mention play live games with an actual dealer on the screen.
Hereunder youll find some of the biggest trends in the industry in the last couple of years, as well as some interesting facts about the countries that absolutely love gambling. Enjoy!
Gambling trends in AustraliaAccording to SydneyNewsToday, gambling generates the highest revenue for the government of Australia. The taxes from casinos alone bring in billions every year to the Australian government. In the period of 2008 and 2009 alone, Victoria casino generated $5 billion in taxes from gabling.
People in this country love gambling. The employment rate grows significantly due to the increasing popularity of this activity, with around 20,000 people employed in Australian land-based casinos in 2009.
Its no wonder that these numbers exist in Australia. Aussies love gambling. Some stats show that even 96% of the people aged between 18 and 24 have tried at least one form of gambling at this point.
So, what trends are we looking at when we speak of a country that really loves gambling?
The top trends in the casino industry in Australia include, but are not limited to the following:
Pokies or, otherwise known as slot machines, are the most popular gambling category for Aussies. Since so many people love to gamble in this country, it comes as no surprise that top-rated Australian casinos offer hundreds of choices for pokies of all kinds. These include classics, jackpot pokies, and even 3D games!
Ever since these became an option for Aussie gamblers, live dealer games at online casinos have enjoyed tremendous popularity. People love the option to play from their home or on the move and still be able to bet in real time with an actual dealer and other players.
During the pandemic, the interest in live dealer games grew even more. People didnt have the option to visit land-based casinos because of the quarantine and restrictions, so they switched to online gambling. Live dealer games provide such an immersive experience, many players now prefer this option over traveling to a casino to play.
A couple of years back, Australians used credit cards and perhaps some e-wallets every now and then to do their gambling. Now that online casinos offer them many new options, we often see them using methods like cryptocurrency and prepaid cards, as well as bank transfer companies like Interac.
Gambling trends in IrelandGambling is very popular in Ireland. The Irish Examiner reports that in 2019, Irish gamblers bet $9.8 billion. The current laws are much different from those in 1956, making this a safer and fairer pastime for those who enjoy it. With the growth of quality online casinos that offer fair play and big bonuses, the interest in the country has only grown in the last couple of years.
In 2019, Ireland introduced a new Gaming and Lotteries Act, which brought changes to the land-based gambling, lottery operators, as well as online casinos. The Department of Health report pointed out to the following stats:
And now, lets see what is trending in Ireland today:
According to the numbers from the European Gaming and Betting Association, Irish people love sports bet-ting more than any other form of online gambling. This accounts for 41% of the market and yielded a spend-ing of $10 in 2019 alone.
People are loving the option to play online in Ireland. Many of them prefer gambling on their phones. Over 44% of all bets made online are made from a phone or a tablet rather than a desktop computer. It is estimat-ed that mobile phones will account for 6 in 10 of all bets made online by 2025 in Ireland.
You can expect to find some of the best bonuses in the industry in Irish casinos! Starting with big welcome promotions for new players at online casinos that include match bonuses up to thousands and hundreds of free spins, to regular promotions and hefty VIP bonuses, players are spoilt with choices in these casinos.
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Gambling trends in the United KingdomThe UK is the home of many gamblers. Reports show that almost half of the population is gambling on a regular basis, which makes this one of the countries with most casino players. Since casinos are required to pay taxes on their winnings, this is good for the economy also.
Even though the UK land-based casinos experienced issues during the pandemic, and many of them closed because of it, the industry is still at its peak, especially when it comes to online gambling. However, today, to be able to offer games to players from this country, casinos must possess a UKGC license no exceptions.
Problem gambling is a very small issue in the UK. Only 3.1% of gamblers are suffering from gambling addiction, and this is now much improved due to the platforms and tools used to help these people. Every licensed casino in the UK gives players access to GameStop, allowing them to limit their gambling in all casino sites.
Lets see some stats about UK gambling:
The industry is changing constantly in a country where there are tons of gamblers. Here are the most recent trends in the UK gambling industry:
Close to half of the people who gamble in Britain do this online. In 2019, this was the most profitable gambling section and continued to be so during the pandemic. Even now when land-based casinos are open again, many still prefer to play from the comfort of their homes or on the move.
In 2020, there were 191,826 gaming machines in the UK. The number has been growing over the years, and if you take a look at the online market, the options are almost unlimited. New machines are added in land-based and online casinos almost on a daily basis, and most of the new choices use high-quality technology and are rich in features.
Right now, the most played games in the UK are the lottery and sports betting. The National Lottery generated $2.99 billion in profits in their last report, which is more than the following three forms of gambling combined.
Gambling trends in SingaporeSingapore opened the first casino in 2010 and to everyones surprise, it became one of the countries with most gamblers a few years later. This is one of the biggest gambling countries in the world with a record of $1,174 losses per person in 2010.
Even so, problem gambling is not as big an issue in Singapore as youd expect, especially now when you can find fair and top-notch casinos to play at online. Lets take a look at some Singapore gambling stats:
Singapore residents might not have many options for gambling in land-based casinos based on this, but they sure love doing this, so they found opportunities to do so. The numbers keep growing, and we are currently witnessing these trends:
The government added an entry fee of $81 for locals at land-based casinos to discourage gambling. So, not only are land-based casinos very limited and strictly regulated, but theyve become costly just to enter, not to mention play at. As a result, Singaporeans prefer betting online these days. They dont have to pay entry fees and can even claim bonuses, and the interest is even bigger due to the pandemic.
In 2020, the most popular form of gambling in the country was 4D lottery. In the same research mentioned above, 42% of respondents said that they participated in this at some stage. The next most popular form of gambling here is TOTO with 36%.
Since gambling was not always an option in this country, players didnt have many casino games to choose from. Now that they can play online, the options are growing regularly. Many offshore casinos are starting to accept players from Singapore, which gives them even more access to trending casino games.
Gambling trends in CanadaThere are still a lot of grey areas in terms of gambling in Canada and yet, this is one of the countries where this is extremely popular. Right now, most of the land-based casinos in Canada are in Alberta, British Columbia, Quebec and Ontario. Every year, the country makes a profit of $13 billion from these casinos alone.
Because of the grey areas and limited number of casinos these days, players often enjoy gambling at online casinos with real money. As long as the casino has a legit license and can be used by Canadians, players will enjoy the many perks that come with online betting.
Despite a very big number of gamblers in Canada, theres a small percentage of players that suffer from addiction. Only 0.6% of all gamblers have a gambling addiction, which is around 250,000 people in total. This country is one of the biggest gambling hubs and yet, its one of the countries with lowest percentage of gambling addiction.
Now comes the time to look at some stats for Canada:
Knowing all this, its evident that right now in Canada, the online casino industry is blossoming. This is the biggest trend in recent years most Canadian gamblers are moving toward online betting, especially during the quarantine and after their favorite casinos were closed.
Another trend in Canada are grand welcome bonuses. Online casinos decided to offer tremendous bonuses, some of the best around to attract the players who decided to play on the Internet. Today, you can find some of the biggest promotions on online Canadian casino sites, some even split between several initial deposits and going up to thousands of dollars.
Wrapping upIn 2019 alone, the global gambling industry generated $262 billion dollars. Even though the pandemic closed many land-based casinos, this was a blessing for the online gambling industry. People now have many opportunities to gamble around the world, including the reopened land-based casinos and online casinos that are growing in numbers every day.
We can expect many great things to happen in this industry in the years that follow. Technology is advancing at a breakneck pace, bringing us innovations such as 3D and virtual gambling, new banking methods, and endless new gaming choices for betting enthusiasts.
With so many choices and opportunities, its hard to make the choice of a casino these days. Be cautious and pick wisely, though. Once you find a safe and legit, licensed casino site, you can enjoy tremendous bonuses and access to thousands of top-notch, mobile optimized games.
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Trends in the top gambling countries in the casino industry - Travel Daily News International
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Exclusive: Biden’s new power player on broadband and Big Tech – Axios
Posted: at 7:52 am
The new leader of a little-known agency within the Commerce Department starts the job tasked with connecting every American to the internet, but also has ambitions to tackle Big Tech issues on the horizon.
Why it matters: Alan Davidson, the newly confirmed head of the National Telecommunications and Information Administration (NTIA), will manage tens of billions of federal spending on broadband but he's also talking about helping set administration policy around app stores and privacy.
Driving the news: In his first major interview since taking the NTIA helm, Davidson told Axios his biggest priority is making sure every American has access to affordable, high-speed internet.
The intrigue: Davidson also told Axios his agency will soon launch a review of competition in the mobile app ecosystem, with a goal of producing a report this summer to help develop Biden administration policy.
Yes, but: The broadband program will take up the bulk of the agency's resources and focus, even as it takes on tech-related issues, including a review of how data privacy issues affect civil rights.
The big picture: Davidson has watched the tech industry grow up since he started Google's Washington office in 2005. (After leaving Google in 2012, he did stints at MIT, New America's Open Technology Institute, the Commerce Department, and most recently Mozilla.)
Of note: Other agencies, such as the Federal Trade Commission and the Federal Communications Commission, are tasked with tech and telecom regulation and enforcement.
Between the lines: Davidson has big ambitions for a relatively small agency that has been without a permanent leader since 2019.
What to watch: Previous leaders of NTIA have mostly come from "the telecommunications side of the house," as Davidson puts it. But the MIT-trained computer scientist turned lawyer is a "technologist at heart."
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Exclusive: Biden's new power player on broadband and Big Tech - Axios
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KTO and AretoNet sign multi-year partnership extension until 2024 – Casino Beats
Posted: at 7:52 am
Online casino brand KTO has signed a multi-year extension with CRM platform and service provider AretoNet until 2024.
The continued link-up between the two companies is said to allow KTO to continue to access AretoNets portfolio of real-time data analytics, business intelligence, advanced segmentation and marketing automation features and tools.
AretoNet has been a driving force in KTOs incredible journey to date which is why the KTO brand has opted to extend the partnership and to continue to work closely with Aretonet, stated Cassio Filter, country manager Brazil at KTO Group.
In such a competitive industry, maximising acquisition and retention is often the difference between success and failure and by leveraging the tremendous power of AretoNets platform, features and tools KTO have been able to establish and grow at an unprecedented rate.
KTO looks forward to continuing to build on our close relationship with AretoNet and its superbly talented team as KTO moves towards becoming a major online sportsbook and casino brand in markets around the world.
Furthermore, the partnership is set to include artificial intelligence, acquisition tracking, instant campaigns and AretoNets proprietary messaging channel, allowing KTO to execute contextual, real-time marketing campaigns said to maximise player conversation and retention.
AretoNet also allows operators to analyse their database and run automated campaigns with full lifecycle analysis. Through the use of real-time data, operators such as KTO can allegedly make accurate decisions, launch campaigns and analyse effectiveness while reducing operational burden.
Justin Farrugia, CEO and co-founder of AretoNet, concluded: In the past eighteen months we have worked very closely with KTO, delivering new features and sharing insights.
KTOs team has been nothing but fearless and theyve witnessed tremendous growth in a really short period of time and were excited to have been part of that journey.
KTO has built a solid proprietary sportsbook and casino platform that allows them to be very flexible in a very competitive industry.
This renewal of our partnership clearly shows the value AretoNet brings to all their customers, and we are enthusiastic to keep working together with the KTO team in the coming years to further support their growth.
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KTO and AretoNet sign multi-year partnership extension until 2024 - Casino Beats
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Northern Ireland Assembly Advances Bill to Overhaul Gambling… – Casino.Org News
Posted: at 7:52 am
Posted on: February 16, 2022, 10:06h.
Last updated on: February 16, 2022, 12:25h.
Northern Ireland is moving forward with plans to update its gambling industry. The Northern Ireland Assembly reviewed a sweeping gambling bill this week, moving it to the next stage in the approval process.
Gambling regulators in countries around the world constantly review rules and regulations to meet the demands of evolving markets. Every now and then, massive changes arrive that alter those markets. The UK, Germany, Italy and others have been undergoing these monumental changes over the past couple of years.
Northern Ireland is in that group as well. Its Betting, Gaming, Lotteries and Amusements (Amendment) Bill (BGLAB) will provide substantial alterations after it crosses the finish line.
The BGLAB, according to the Northern Ireland Assembly (NIA), has already been through several approval stages. The first was when it was introduced in September of last year.
The Minister for Communities sponsored the bill in hopes of essentially rewriting all of the laws that have been on the books since 1985. The original statues are included in the Betting, Gaming, Lotteries and Amusements (Northern Ireland) Order 1985.
The Committee realises that there is much to learn from the ongoing reviews into gambling in both Great Britain and the Republic of Ireland, the outcomes of which are likely to have an impact on our regulations here. In that context, while not ideal, this Bill is an important and necessary starting point, said NIA Committee for Communities chair Paula Bradley MLA.
After progressing through the second and committee stages, the latter of which took place in January, the BGLAB has now passed the consideration stage. This occurred yesterday, as legislators explored the updated laws, as well as a number of amendments that have been added.
Legislators recognized a greater public demand for new regulations on gambling, especially in Northern Ireland. They introduced a mandatory Code of Practice and required the betting industry to pay a fee to fund research, education and treatment for problem gambling.
After the bill advanced, the Assemblys Committee for Communities provided input. It suggested that the Department of Communities conduct a dedicated study on the calculation of a new wagering fee. It also suggests there be research into updated roles and responsibilities of a regulator.
In addition, the legislators noted that many Northern Irish bettors use the same online gambling operators that UK gamblers use. Therefore, any changes to the regulatory system of the UK will have a significant impact on Northern Ireland. Because of this, a cohesive approach to update regulations involving multiple jurisdictions will facilitate a smoother integration, according to lawmakers.
One important caveat to the legislation is the permission for betting establishments to open on Sundays and Bank Holidays. This led the Committee to insist that the Department for the Economy publish guidance that will explain the treatment of employees who have to work on these days.
The next stop for the bill is the further consideration stage, and then, the final stage. The Assembly has not provided a timeline for when those stages will occur. If the bill makes it through both, it will then become law through Royal Assent.
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Northern Ireland Assembly Advances Bill to Overhaul Gambling... - Casino.Org News
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Broadcasters Go Against Big Tech With Congress Forcing Negotiations – BroadbandBreakfast.com
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WASHINGTON, February 15, 2022 Vint Cerf, a vice president at Google and an early developer of the internet, said more data should be collected to get a better sense of internet performance across the country.
As the Federal Communications Commission races to improve broadband maps that show what areas have what speeds, including using crowdsourced data from speed tests, Cerf said on an Ask Me Anything-style interview Friday that broader information points need to be collected to get a more accurate picture of the problem.
Today, people do episodic measurements of speed, go to speedtest.netyou run it, but usually only run it when youre not happy with the performance, and so we get this skewed data that says everything is terrible, Cerf said in the wide-ranging interview with Broadband.Money.
So, we should be running background tests that are preserving of privacy, but help us understand what does this user see in terms of performance over a period of time? What are the variations, maximum, minimum average, and so on?
Cerf also asked whether we can distinguish between poor performance as a consequence of badly configured Wi-Fi versus a poorly performing internet access point or internet access to the ISP.
Those are the sorts of things that I hope we could do better at, so that we can understand better how well are we serving users for a variety of different applications, he added.
In November, President Joe Biden signed the Infrastructure, Investment and Jobs Act into law, which puts $65 billion toward broadband. The National Telecommunications and Information Administration, an agency of the Commerce Department handling $42.5 billion of that money, will be tasked with its distribution to the states. The new legislation also raised the federal speed standard to 100 Megabits per second download and 20 Mbps upload, from 25/3.
But the holdup is the accurate maps, which Commerce Secretary Gina Raimondo said could come from the FCC this summer. The FCC for its part has been working to gather more data points than the agencys reliance, historically, on internet service provider data, which in part led to a mess with the Rural Digital Opportunity Fund. That includes crowdsourcing data from consumers, including gathering speed data.
Cerf said he anticipates challenges to the deployment of funds from the IIJA, since measurement data on internet performance is not readily available.
Cerf noted that looking at components of performance in the home is not easy because Wi-Fi speeds often include input from fiber or cable and looking at performance without these components is not so simple.
Cerf also touched on what hes like to see on the digital accommodations front.
It is not just access to Internet; its not just access to the equipment that helps you use the Internet, but it also is accessibility in the sense of accommodating people who might have physical disabilities that interfere with their ability to use the technology, Cerf said.
He said inclusion must focus on more than just ensuring people have access to broadband and connected devices, stating that individuals must learn the best type of equipment to be using for their connections.
That includes what kind of equipment should I be using? Whats on the laptop? What kind of trouble might I get into? Whats phishing? Whats pharming? Whats malware? Whats the denial-of-service attack? What other kinds of content? Whats ransomware? People need to be aware of the risk factors going online, Cerf said.
Cerf suggested that state officials should play hardball with network operators and refuse to provide them with funds until they can answer the questions about broadband data that they are asked.
He also prognosticated on internet developments of the future, predicting increase in the prevalence of Internet of Things devices for data collection in industries such as agriculture should better network support be developed for the devices.
Cerf floated the possibility of centralized online logins rather than having to enter sites through individual social media accounts such as a Facebook or Google profile.
Additionally, he expressed skepticism over how revolutionary the metaverse and cryptocurrency will be in the tech sector despite stating that the ability to move money around without having a credit card is important.
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Broadcasters Go Against Big Tech With Congress Forcing Negotiations - BroadbandBreakfast.com
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The Goldilocks Valuation Zone: Where Big Tech Discovers Innovative-Value – Entrepreneur
Posted: at 7:52 am
This story originally appeared on Zacks
Mega-cap techs recent windfall into oceans of digitally fueled capital has these firms looking high and low for ways to profitably deploy it. Stock buybacks are at record levels, but the valuation discounts that many next-generation innovators have fallen to cant be ignored.
There appears to be a Goldilocks valuation zone where big tech is looking to pick up new economy innovators after the January capitulation.
Goldilocks valuation range: $5 to $30 billion market cap, (preferably) below a 10x forward P/S, and market-disrupting potential.
Monday (2/14), the WSJ reported that Cisco CSCO was looking to acquire Splunk SPLK for over $20 billion, with designs on reinvigorating its innovative growth outlay. SPLK was the Nasdaq 100s leading Valentines Day component, with an over 9% daily rally.
Splunk currently resides in that perfect Goldilocks valuation zone to be picked up by the recently cash-rich big tech firms. SPLK has slid 45% from its peak 1.5 years ago into this Goldilocks valuation range: $19.7 Billion market cap, 6.5x forward P/S, and undeniably market-disrupting potential in AI-driven machine data management and real-time actionable analytics.
I wouldnt be surprised if other SPLK suitors came out of the fray before CSCO can lock anything in, as this leading real-time data management business begins proving a successful cloud transition.
I expect to see elevated M&A activity among young market disruptors in the coming months, so look out for companies in this Goldilocks valuation zone.
Stocks Im eying: HubSpot HUBS, Upstart UPST, and Alight ALIT.
Even if these next-gen buys dont get picked up, theyll add sizable long-term growth potential to your portfolio for the future.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
Its a little-known chemical company thats up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportCisco Systems, Inc. (CSCO): Free Stock Analysis ReportSplunk Inc. (SPLK): Free Stock Analysis ReportHubSpot, Inc. (HUBS): Free Stock Analysis ReportUpstart Holdings, Inc. (UPST): Free Stock Analysis ReportAlight, Inc. (ALIT): Get Free ReportTo read this article on Zacks.com click here.Zacks Investment Research
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The Goldilocks Valuation Zone: Where Big Tech Discovers Innovative-Value - Entrepreneur
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Opinion | Techs Love Affair With Miami – The New York Times
Posted: at 7:52 am
Keith Rabois minted his wealth with Elon Musk, Peter Thiel and other members of the so-called PayPal Mafia. Now, though, hes moved to Miami and become one of the citys biggest hype men. He believes Florida which has already seen an influx of tech bros, venture capital investments and cryptocurrency plays during the pandemic offers a better home to tech than California can, largely because of the politics. He tells Kara Swisher: The mayor of Miami, the governor of Florida treat citizens like customers. What can we offer you? How can we help? Thats their goal, and thats how they frame everything.
[You can listen to this episode of Sway on Apple, Spotify, Google or wherever you get your podcasts.]
In this conversation, Kara presses Rabois whether techs doubling down on Florida is all just about escaping high taxes. They also discuss whether venture capital is what investment banking was in the 2000s. And they catch up on the news, from stock fall-offs in big tech to why Peter Thiel will be stepping down from Metas board.
(A full transcript of the episode will be available midday on the Times website.)
Thoughts? Email us at sway@nytimes.com.
Sway is produced by Nayeema Raza, Blakeney Schick, Daphne Chen, Caitlin OKeefe and Wyatt Orme, and edited by Nayeema Raza; fact-checking by Kate Sinclair; music and sound design by Isaac Jones; mixing by Carole Sabouraud and Sonia Herrero; audience strategy by Shannon Busta. Special thanks to Kristin Lin and Kristina Samulewski.
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