Posts Tagged ‘Companies’

Analysts Predict Online Gambling Boom in Current Economic Climate

According to various analysts, the current economic climate seems to be sparking rapid growth in the online gambling industry as governments in need of more tax revenue start to remove bans and tax the resultant surge in bets.

Analyst Anthony Travers, the head of KPMG’s Australian gaming industry practice said that Australia is one of many places examining deregulation. KMPG predicted in one of their reports that the global online betting market will grow by 42% to $32 billion by the year 2012. “With the potential for growth in the sector increasing, the market we see now could be just the tip of the iceberg,” he said.

The Australia’s Productivity Commission draft report into online gambling urged deregulation of the industry and removing the ban on Australian companies operating cyber casinos. Travers said that the prohibition of the industry was not working as it is reported that Australians spend approximately $790 million on offshore cyber casinos. “You would have to think that, longer term, a regulated market with support for problem gamblers would be a better way to go for the governments,” he said.

Travers and many other analysts around the world agree on the prediction that there will be takeovers in the sector and the prospect of foreign entrants.

Australia is clearly not the only country taking this into consideration, a lot of European countries have already started looking into this and making it a reality. Online gambling specialists expect most European Union countries to follow the trend towards deregulation of online gambling, however, they do not have such expectations for the very large potential market in the US and South Korea.

I personally still like to think that the US Government will soon tax online gambling and declare a legal activity, just because it makes sense to do so.

Kentucky Court Lawyers File a Claim Against Full Tilt Poker

The Kentucky domain name seizure case keeps surprising us with new flips to the story, it is starting to get to the point in which we are tired of hearing the news unfolding in the Kentucky Court, however I believe it is important to stay on top of these events.

Recent news broke that the Kentucky Supreme Court has stated that if iMEGA produces a domain name owner in court it could receive a favorable verdict and iMEGA was successful in doing that. However, before the favorable verdict could be ruled the lawyers for the State of Kentucky decided to start another round of legal proceedings with new filing in the Franklin Circuit Court.

The State of Kentucky filed a claim against Poker Kings for monetary losses in 2009 by persons in the border of Kentucky. The claim was filed in the name of Kentucky Justice and Public Safety Cabinet Secretary J. Michael Brown as before. The new filings state that Pocket Kings is the owner and operator of Full Tilt Poker and it is 14 pages long and it allows the personal jurisdiction of the Kentucky courts over nonresidents against whom there is a monetary claim for acts committed in Kentucky.

“The Full Tilt Defendants have done, or have caused to be done, tortious acts in the Commonwealth for which the Commonwealth has a substantial and compelling interest in exercising personal jurisdiction.” the filing states. The Kentucky lawyers also stated “that there are unknown individuals and entities who have acted in concert in joint ventures “to facilitate, host, operate, and profit from online gambling businesses”. They have listed the entities and personas behind Absolute Poker, UltimateBet.com, Bugsy’s Club, Cake Poker, Crazy Poker, DoylesRoom, Golden Palace, Microgaming, MySportsbook, Pitbull Poker, PlayersOnly, PokerHost, PokerStars, PokerTime, Red Star Poker, Reefer Poker, Sportsbook.com.

The gambling sites have not responded, we will update you on how the story develops.

Product Released to Combat Problem Gambling

In the past we have talked about how problem gambling is one of the main concerns when it comes to considering the legalization and regulation of online gambling. Many legislators still fear that legalizing online gambling will openly support addictive behaviour and this will lead to an increase in the number of people who have to face social and financial crisis because of their gambling.

The good news for this is that a device now being marketed by Techlink Entertainment called Gameplan could be the solution for this. Gameplan was selected by Nova Scotia Gaming Corporation to empower players to gamble responsibly at authorized video lottery terminals (VLT). The VLTs that will participate in this programme are required to install the software from Gameplan, then the plug and play device is inserted into whichever terminal the player is wagering on.

The device will track the wagers and the results and keep players aware of their gambling patterns on a continuous basis. The objective is for players to get a reality check and they will also be different options available to players based on the money-management criteria they enter into the device. For example, players can program the device to limit losses during a gambling session and the device will lock the player out of all the participating VLTs.

Players also have the option to set a time limit on their wagering sessions and also to be prevented from playing any particular day. There is also a “self-exclusion” option that the player can setup from 1 to 3 days.

“Three independent research firms, two Canadian and one from Las Vegas, agreed that our product has a positive impact on gambling behavior. Providing players with the right information and tools is critical in helping them gamble responsibly.” said John Xidos, President and CEO of Techlink Entertainment when describing the background development of Gameplan. He pointed out that Gameplan was the only solution available today that has been backed through extensive field-testing and research.

Currently, the Internet Gaming Study Committee is examining the product for its effectiveness at online casinos.

Two New Products Promise to Revolutionize Online Gambling Security

Chocolate Consulting is a specialist consultant in the online gambling industry. They have come together with VeriSign, an expert in security for internet services, to launch a new range of products designed to protect online gaming operators from direct and indirect costs that may emerge from account takeover and denial of services.

The companies announced that they will be launching two new products to make online gambling more secure. The first one is the VeriSign Identity Protection (VIP) which will be a clod based real time authentication system that will protect players from identity theft and unauthorized usage in their accounts. Another benefit that comes along with the VeriSign Identity Protection is that the costs of investigations of account takeover will be eliminated because with VIP that process will not even be necessary anymore.

VIP is a way to increase the lifetime value of a player and the trust within the online gambling industry. “The combination of security and customer trust makes VIP an ideal product for the online gaming industry.” said the head of business development at VeriSign, Phil D’Angio.

VIP is also available and adaptable to mobile phones for casinos that offer a mobile platform. Chocolate Consulting will be helping VeriSign to find a niche and market the product to online casinos.

The second product that the companies will launch is the VeriSign Internet Defense Network (VIDN) which will prevent DDOS attacks. Sometimes you may have tried to log into your favorite casino and found out the server is down, that is due to a DDOS attack. For casinos, this is not only upsetting but it represents losses of millions of dollars. DDOS attacks have become more sophisticated than they used to be and it is really hard to detect them, but with VIDN casinos will have a tool that has proven successful when detecting DDOS.

“At Chocolate we work with our partners to help them understand the online gaming sector and tailor their value propositions for market entry programs. With VeriSign we saw a great opportunity to bring security services into the sector that increase player trust and drive lifetime value,” said the director at Chocolate Consulting, Justin Fraser.

blog: thevirtualcasino.com