Party like it's 888
A merger between online gambling giants, Party Gaming and 888 Holdings, is the latest rumor that is probably not so far fetched...
Both Party Gaming and 888 have taken big hits since the signing of the Unlawful Internet Gambling Enforcement Act of 2006 and as both companies decided to pull out of the US. Party Gaming stocks plummeted some 60% and 888 wasn't far off when some $7 billion was wiped out from the industry.
Party Gaming is said to be sitting on a mere £100 million in cash and 888 Holdings is in a similar position so acquisitions are a thing of the past for both companies.
There will be many mergers in the near future as the online gambling space gets smaller. Many small operators will struggle to survive and others will see this as a massive opportunity to become like Party and 888 were before.
posted by Clark Gamble at Party like it's 888
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Sunday, October 29, 2006
European Rival to WSOP
Ladbrokes, the UK based bookmaker, announced plans to invest a further £3 million into its 2007 Poker Million Tournament. Ladsbrokes' plan is to create an European competitor to the World Series of Poker (WSOP).
WSOP 2006 was the biggest live poker tournament to date with nearly 9,000 players competing for more than $82 million in prizes. More than half of these players qualified online, which means that future WSOP's would be heavily compromised by the Unlawful Internet Gambling Enforcement Act.
Poker Million is already the biggest poker event in Europe and London may rival the World Series event of Las Vegas.
Currently, the tournament winner will earn $1.2 million out of a total prize pool of $4.1 million. But with the extra £3 million investment from Ladbrokes will easily double the prize pool for next year.
posted by Clark Gamble at European Rival to WSOP
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Sunday, October 22, 2006
Where US Gamblers Can Play
Microgaming casinos such as River Belle, The Gaming Cluband Jackpot Cityallow all US players with the exception of residents from the following 11 states:
1. Michigan
2. Illinois
3. Louisiana
4. Oregon
5. Washington
6. Wisconsin
7. Indiana
8. Nevada
9. South Dakota
10. New Jersey
11. New York
Residents from other states are free to deposit, play and withdraw their winnings.
posted by Clark Gamble at Where US Gamblers Can Play
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Sunday, October 08, 2006
US Anti Gambling Law
The recent anti gambling law that passed in Congress and awaits the president's signature does not ban US residents from playing in online casinos. The bill only calls to stop credit card, electronic transfers and checks to online gambling companies. However even after the law is put into action there are a host of options available for US residents to use for depositing and gambling online. The evil plan was to completely stop the free citizens of the USA from gambling in offshore companies but it looks like it will only stop some financial processors and methods.
posted by Clark Gamble at US Anti Gambling Law
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Monday, October 30, 2006
Europe Opts to Regulate Gambling
The UK, Italy and Belgium are opting to regulate Internet gambling, rather than outlaw it like the US, as players turn increasingly to the Web. The EU is pushing countries to scrap any measures that protect domestic companies when those nations open their markets. On Oct. 12, regulators told members such as France and Austria to stop discriminating against international bookmakers and casinos.
Italy next year will let companies offer online lotteries, bingo and betting on sports or games of skill. The UK will begin licensing private Internet gaming sites in September. Belgium is working to change its legislation as well, and private companies are already allowed to offer sports betting in Austria.
The changes may give US gamblers more ways to evade the ban on Internet wagers at home and bet on European government regulated gambling sites.
posted by Clark Gamble at Europe Opts to Regulate Gambling
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