Malta Gaming Authority makes plans to start Licensing DFS operations
Within Europe the interest in daily fantasy sports (DFS) is growing by the day, with this being something that many major gambling brands are looking to take advantage of. Throwing extra weight behind this new brand of sports betting experience, it appears that the reputable Malta Gaming Authority will soon start issuing licenses for DFS based gambling. At this point DFS is the only online gambling format that is authorised by the UIGEA in the United States. With this being the case, players in Europe really are chomping at the bit to get involved with the DFS action, as the MGA looks to make this a reality.
In its current form, DFS companies can operate in Europe under other licenses, including the UK Gambling Commission (UKGC) license. However, there is currently no dedicated license for such form of gambling, but that is now seemingly about to change. While the official date of a license rollout is not known, what is known is that such certificate is now under development, with such set to give DFS more legitimacy. Putting it simply, this brand new license should help give legs to DFS within Europe, opening up the gambling format further.
The reason behind the decision comes down to the fact that DFS play has strong skill and knowledge elements, which does work to differentiate it from other gambling formats. Speaking about the MGA’s decision; Valery Bollier (Oulala.com CEO) was one of the firs to
Gambling is becoming increasingly popular in today’s society. Major casinos and online gambling sites attract
Economic The Australian gambling market is remarkable in the world’s gambling industry. It has already been mature and showed a very strong growing momentum with 2.9% annually over the last five years, and it was predicted that the growth rate would be constant in a medium-term period. (Sudarsanam, 2011)There are four categories of gambling activities. Gaming is the largest type with the annual turnover over $10.2b, and other three types are Casino, wagering and lotteries, and the annual turnover was $3.2b, $2.6b and $2.1b respectively. (Sudarsanam, 2011)
The greater vision of the Sportsbet company, is to make them a betting and gaming business that is world class, and that can be trusted by its customers, colleagues, and partners. They ensure that the company is passionate towards their customers, and their customers are at the heart of all the things they do. They also consider that the working environment is exciting for the employees of the company, by conducting regular activities and events for staff (Glassdoor, Inc, 2017). Sportsbet is currently leading in innovation associated with online gambling. However, in the hands of Simon Noonan (Chief Information Officer), and his team, the Sportsbet team are working on a future vision to improve the technologies, focused towards customer mobile experiences (Sadaukas, 2015).
In 2015, almost every time you turned on your television, you saw a commercial for DraftKings or FanDuel. DraftKings and FanDuel are two separate companies that operate daily fantasy sport leagues. Some of the sports that are featured with the fantasy leagues are baseball, with Major League Baseball, football, with the National Football League, hockey, with the National Hockey League, and basketball, with the National Basketball Association. To get into one of these daily fantasy leagues that DraftKings and FanDuel offer, you have to pay an entry fee. That entry fee determines how much you could possibly win. Daily fantasy sports sites DraftKings and FanDuel shouldn’t be allowed to operate because it is not a game of skill, gambling sites were banned in 2006 by the U.S. Federal Government, and even though it creates money for the economy, many people lose money and sometimes their possessions.
The best part of it all, is that DraftKings is completely legal, even in the US and Canada. There aren’t many gambling games which are legal there, but DraftKings is. Players can select from a large number of different sporting events on a daily basis, and
In states where DFS are currently legal DFS sites operate within the confines of the existing laws, and they should be considered completely legal under the current law. Most states currently permit DFS, as they are not seen as predominantly games of chance (Huffman, 2014). Miller & Singer present the widely cited statistic that 91 percent of all DFS profits are won by just 1.3% of players (2015). This statistic shows that there has to be some talent involved in DFS for a few individual to collect the majority of the profits. If DFS was entirely based off of chance the profits would be distributed in a random manner. Since the UIGEA explicitly permitting fantasy sports that are (1) for a value not dependent by the amount of participants or fees, (2) not dependent on the outcome of any real-world games, and (3) determined by the skill of the participants DFS are legal federally (Huffman, 2014). Additionally, the determination of the skill component is entirely left up to the individual states to decide what constitutes a game of chance and what constitutes a game of skill (Huffman, 2014). Most states use the predominant purpose test to determine whether to classify a game as a game of chance
There’s a new player in the DFS world and they’re entering with a very large bang. FantasyDraft.com has now thrown their name in with other sites where daily fantasy players can enter contests, both free and for pay, and test their skills with other players around the world. With a seemingly already saturated market, one can see how it can be difficult for a start-up DFS site. This time, however, the new kids on the block are packing a rather large age up their sleeve and they’re playing it now.
Since the inception of fantasy sports companies, very few industries have grown this significantly in such a short time span. Since the surge in popularity of daily fantasy betting FanDuel and DraftKings have launched aggressive efforts to expand in order to reach the 51 million current fantasy sports users in the US and Canada alone. Although approximately 38% of Americans admitted to betting on sports in 2008, fantasy sports companies are also experiencing increased scrutiny from state regulators. Criticism stems from the belief that daily fantasy sports betting is considered to be online gambling and therefore should be illegal or heavily regulated at the state level. Multiple
Fantasy sports has evolved from its humble roots as the niche Dungeons & Dragons-esque intersection of sports fandom and statistical nerdiness. According to Fantasy Sports Trade Association market research conducted by Ipsos, there are over 36.6 million people playing fantasy sports in the United States and Canada and is a rapidly growing industry that generates over a billion dollars per year. The once maligned cult hobby has grown into an undeniable sports subculture, commanding regular coverage from all major sports networks, in addition to active online communities, podcasts, and even paid services catering to fantasy sports players.
The Unlawful Internet Gambling Enforcement Act of 2006, or the UIGEA, had, in a nutshell, prohibited banks and payment processors from processing transactions that would correlate to online gambling. This has not only complicated loading accounts, but also withdrawing. While USA online casinos have continued to operate, they have had to use payment processors that would circumvent these restrictions. Sadly, the UIGEA was not even set to go into effect until December of 2009, thought the implications of the legislation had fall out that would be nothing short of catastrophic for many online gambling companies, especially those that relied heavily on the United States market.
From commercial casinos to lottery tickets to off-track betting, it is easier to gamble today than ever before. While the government promotes the gambling industry to supplement tax revenues, it has not allocated
Founded back in 2006, Betsafe is a Bettson owned brand that now has over a decade of experience under its belt. Like a lot of its competitors, this online casino has Swedish roots and while not being the flashiest name on the market, it seems to be bringing punters enough when it comes to game selection, bonus offers, and customer support to command attention. What’s expected of Betsafe these days probably isn’t the same as it was a few years ago, as the platform is hardly a fresh face on the scene anymore. Recognised as an industry veteran, in our experience Betsafe provides a solid - yet fairly unspectacular - online casino experience.
Political and legal factors are those controlled by governments, local authorities, or other trade or activity orientated regulatory bodies' (Brassington and Pettitt, 2000). Gambling legislation is put in place in order to prevent consumers been taken advantage and also help control consumers with gambling problems. The internet is open to great abuse in all areas of the internet and gambling is no exception. Within five minutes it is possible to be gambling on the internet at as high stakes as one desires, this obviously has its dangers. Companies have recently been pushed to be more responsible for caring for their customers. Some of the companies now have a system which its customers can use. The system offers the customer control of how much they can deposit in a designated time period, this helps the customers control their spending. Though this may affect profits for a company, it gives the impression that they care for their customers, which promotes their company. The laws for online gambling are reasonably relaxed and with it been a worldwide market that anyone from any country can access it is hard to control such a market. There have been recent worries about illegal gambling carried out on Betfair with trainers and owners regarding the running of a horse to lose. Many bets would be taken on the specific horse resulting
Most of us have heard of fantasy football. Online fantasy has risen in popularity over the past couple of years, due to advances in technology. With this rise in popularity, it has raised eyebrows at the state and federal government levels. There are many grey areas when it comes to gambling online, that many people still don’t understand. Many questions are being asked, such as legal transactions with credit cards, is online gambling causing a problem with a rise in gambling addiction? Over the course of this report, I will go over the good and the bad of making online gambling legal and regulated.
The scheme in the gambling industry is the same everywhere. The main goal is to