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Legal sports betting offers the promise of more revenue. Gambling is already a major industry in California, with tribal casinos generating $400 million in state and local tax revenue in 2014. Last year, Assemblyman Adam Gray introduced a constitutional amendment to legalize sports betting, which would require two-thirds approval in the Assembly and Senate and have to pass a majority vote of the electorate. Sports betting won’t be on the November ballot, but a ballot initiative has been proposed for 2020. Native American Casinos are already claiming they have the exclusive ability to operate casino-style games. “California voters have, on numerous occasions, confirmed the exclusive right of California tribal governments to operate casino-style games,” said Steve Stallings, chairman of the California Nations Indian Gaming Association. “Legalization of sports betting should not become a backdoor way to infringe upon exclusivity.” The state will need to remedy this because constructing a sports betting regime for the benefit of a single interest group would negate many of the benefits of legalization. Then, for sports betting to be successful and eliminate black markets, a number of prerequisites will need to be in place. First off, taxes must be low. Legal sports betting providers in the U.S.
For the original version including any supplementary images or video, visit https://www.ocregister.com/2018/07/06/california-needs-to-hurry-up-and-get-in-the-sports-gambling-game/
The social media company has informed Italy-facing advertisers as well as operators licensed to operate in the country who are advertising their products to Italian customers that it has decided to revoke all prior written permissions issued to those regarding their Italian operations. It is also understood that the new advertising policies are set to take effect in the next few days and will concern both Facebook pages that advertise gambling products to Italian gamblers as well as Facebook ads that target that same demographic. News about Facebook banning Italy-facing gambling adverts arrive just a week after Google AdWords prohibited such adverts to show full compliance with the Dignity Decree. Here it is important to note that the full ban on gambling advertising is actually yet to take effect in Italy. This is slated to happen on January 1, 2019. A separate rollout of news from Italy from the past several days shows that the looming ads ban has not deterred local gambling company Gamenet Group from pursuing consolidation in its domestic market. The company, formed by the acquisition of Intralot Holding and Servces S.p.A. by Gamenet S.p.A. in 2016, announced that it would acquire sports betting operator GoldBet for €240 million. GoldBet operates 1,700 betting shops around the country, which accounts for a fifth of Italy’s retail betting market. The company also owns an online betting business, which equals to around 7% of Italy’s lucrative Internet betting sector.
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Mybet, the German online betting operator, has signed a deal to sell its online gambling division with an unrevealed “strategic investor.” The company sold the division to focus only on B2B and retail divisions. On Friday, Mybet Holding SE announced that it had signed a non-exclusive term sheet for the sale of its Mybet.com B2C online gambling operations to the unspecified investor for a sum the company claims is “supposed to be in the high single-digit million range.” Under the terms of the deal, which is subject to the conclusion of a binding contract and the fulfilment of certain conditions, this mystery man/group will acquire 100% of Mybet group companies Personal Exchange International Ltd and PNO Casino Ltd as well as full and exclusive online rights to the Mybet brand. Mybet will retain the right to use the Mybet brand “to an extent necessary for the continuation of its remaining business segments B2B services as well as for the operation of the stationary betting shops.” Following the deal, Mybet will focus solely on its “positively performing” B2B operations and the expansion of its retail operations. Mybet’s online B2C business had suffered in recent years, in part due to the delayed launch of its new digital platform, which finally appeared in March. The following month, Mybet announced that it had launched a NetEnt-powered live casino offering after the forced closure of Mybet’s original Novomatic-powered live casino in January, following that company’s decision to exit the German-facing online casino market. In March, Mybet had teased investors with news that it was holding exclusive talks regarding a future strategic and operational joint venture with an unidentified “leading provider of sport bets and online casino games headquartered in Malta.” The plan was that Mybet would hold a 51 per cent stake in this JV, while the investor would contribute “equity in a medium single-digit million range” to help finance “future investments in market activities.” That deal was contingent on Mybet contributing its “online business.” German online betting operator Mybet mybet Holding SE online casino market Online gambling online gambling operations Personal Exchange International Ltd PNO Casino Ltd Niji Ng :Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing.
The wider the variety of lines that are available, the better for sophisticated, high-volume betting groups, which often end up on both sides of a game at the best prices and odds. Shane Sigsbee, co-founder of Nevada-based sports betting group Imawhale Sports, hopes to see books in other states offer varying lines. Sigsbee said he's paying attention to what's going on in other states and plans on spending most of his August visiting the new states with sports betting. "The biggest thing for us is if MGM is dealing the same exact line across all states and William Hill is dealing the same line or Caesars that takes away a ton of opportunity," Sigsbee told ESPN. "Mississippi is a good example. They're going to have to shade toward every SEC team. I can't imagine that Beau Rivage [casino in Biloxi, Mississippi] is going to be dealing the same line on LSU that they're dealing in Nevada." College football opening lines begin showing up online in the middle afternoon on Sundays during the regular season. Offshore sportsbook BetOnline.com is generally first, followed by the Wynn in Las Vegas, which posts its opening college football lines for the following week at 3 p.m. PT on Sundays. In the first few hours, especially early in the season, the spreads move quickly and often, and the market doesn't normally settle until prominent offshore book BetCRIS posts its opening numbers. BetCRIS is known to cater to sharp bettors and offer among the highest limits.