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28.06.2019

Betfred Refuse Bettor £189,000 in Winnings

Betfred, the popular UK bookmaker, has refused to pay £189,000 to a player who made a mistake when writing out a six-horse accumulator. David Smith, a 60-year-old from Loughborough placed a bet on 6 different horses and to his surprise, he won 5 of the bets, bagging him £23,000.

The argument was that Mr Smith intended to bet on a horse named “Bailco”, which also won – which would have paid him £212,000. However, the bet was placed on a horse called “Bailarico” who finished 3rd.

Smith’s other five selections all won, Ardera Cross (40-1), Indian Temple (7-1), Shanroe (9-2), Pennsylvania Dutch (15-2) and Sir Busker (4-1). He argues that he obviously intended to include Bailco, as he wrote “2.15 P” next to the horse’s name. The horse ran and won the 2.15 at Perth, whereas Bailarico finished 3rd at 3.40pm at Goodwood. Smith also proves that he wrote down the odds on Bialco, as a
further convincer.

David Smith claims that after two of his horses had won, he checked his slip and had noticed his error and quickly explained to the shop staff whilst he watched Bialco win. He says that the shop staff assured him that the bet would be settled on Bailco would pay out at £212,000 if all 6 horse came in. However, when the bet was referred to Betfred security for authorisation, the settlement was changed to £23,000.

Betfred released a statement saying “Unfortunately the customer had written Bailarico on his slip which was running in a race at Goodwood that day and finished third. Our rules state that we settle on the named selection.”

Paul Fairhead, an online campaigner for bettors, has since pointed out a Betfred rule that allows the firm to split stakes between the two horses if a bet is deemed ambiguous. In this case, Smith would be awarded an additional pay out of around £90,000.


27.06.2019

Russia Passes Player Identification Bill

The State Duma of Russia has passed its third reading of a bill that will change the process of player identification in Russian online bookmakers. Currently, players are required to register with the bookmarker and then supply their identification information to the centralized online payment hub, TSUPIS. Following this, they must present their identity documents, in person, to a local betting shop.

According to the newly passed bill, players will no longer be required to have their identity approved twice, before being able to place a bet online. Bookmakers will now be given the right to delegate the identification to the centre that already processes the online bets, TSUPIS.

A note that is attached to the bill states that: “The complex, multi-step identification process is incomprehensible to the gambler, in some cases unfeasible, encourages players to search for ways to overcome government measures aimed at combating illegal gambling business in order to gain access to foreign sites subjected to blocking
.”

The final steps before the order is turned to law, is for the bill to be passed by the upper chamber of the Russian parliament, the federal council and then obtain the signature of Vladimir Putin, the President. Regardless of these final hurdles, Russian bookmakers are hopeful and excited for the bill, predicting that the new law would lead to an increase in bets being placed by players using legal bookmakers.


26.06.2019

Eldorado Resort and Caesars Entertainment Merger

Eldorado Resort and Caesars Entertainment Corporation have announced that they have entered a merger agreement, which will in turn create the largest US gaming company.

The companies have revealed that their agreed equity value sits at $12.75 a share, in a mixture of cash and Eldorado stock with the deal being worth approximately $17.3 billion. Since the announcement of the deal, Caesars’ shares have increased by 13% to $11.25 in pre-market trading whereas Eldorado fell 6.8%. Once the transaction has been made, its estimated Eldorado and Caesar shareholders will hold around 51% and 49% of the company’s outstanding shares. Additionally, the companies have revealed that once the transaction has completed, the company will keep the Caesars name to take advantage of the household name.

Tom Reeg, Chief Executive Officer of Eldorado said
: “Eldorado’s merger with Caesars will create the largest owner and operator of U.S. gaming assets and is a strategically, financially and operationally compelling opportunity that brings immediate and long-term value to stakeholders of both companies. Together, we will have an extremely powerful suite of iconic gaming and entertainment brands, as well as valuable strategic alliances with industry leaders in sports betting and online gaming.”

Tony Rodio, Chief Executive Officer of Caesars said: “We believe this combination will build on the accomplishments and best-in-class operating practices of both companies. I’m familiar with Eldorado and its management team, having worked with them on a previous transaction, and I look forward to collaborating with them to bring our companies together. We are excited to integrate Caesars Rewards with the combined portfolio. The incorporation of Caesars Rewards has produced strong results at the recently acquired Centaur properties. By joining forces, we believe the new Caesars will have a key position to compete in our dynamic industry.”


25.06.2019

Switzerland to take action against Foreign Casinos

Switzerlands gambling market, like many others – have gone through some major changes in the last few months. One of the changes was to begin to block foreign gambling websites starting from July 1st, in an effort to protect their local industry from rogue operators.

From July 1st, local gamblers will only be able to bet online with Swiss companies that pay taxes and comply with the countries regulation, with a focus on player protection measures. According to the Switzerland’s Federal Council, locals spend around 220 million in foreign operators, where they are unprotected.

The operators that are being blocked will soon be published on the Federal Gaming Commission and Lotteries and Betting Commission websites, as a way to raise further awareness to locals. It is said in the new regulation, that in the first 6 months of the year – the country will consider granting licences to other operators, but those who are being considered have not been named
.

Swiss telecommunication providers will block the sites on the blacklist by DNS. However, the local gambling regulator has said that companies who voluntarily withdraw from the local market, will remain unblocked. Additionally, any gamblers in the country who have already registered on foreign casinos will be forced to directly contact them if they wish to recover their money – due to the fact the Swiss regulator has no jurisdiction.

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