Bet365 Casino Profit Skyrocketed by a Third for the Quarter

There are innumerable virtual wagering websites in the European bookmaking market today. Bet365 is one of the most known and highly established betting websites to serve the European bookmaking community and customer base. Through the years, this mobile wagering site has proven its leadership in offering top quality gaming features with the biggest prizes and bonuses for its avid and loyal member players. Continue reading Bet365 Casino Profit Skyrocketed by a Third for the Quarter →

Social Casinos Summit Scheduled for June 19th to 20th in Las Vegas Nevada

An important event for both online and land based gaming is set to happen in Las Vegas, Nevada on the 19th to the 20th of June 2013. This is a must attend gaming conference with all the important agenda to be discussed organized and systematically presented to all bookmaking operators, developers of gambling software and other major players in the bookmaking industry. Continue reading Social Casinos Summit Scheduled for June 19th to 20th in Las Vegas Nevada →

Online Casinos Introduce New Internet Lottery Innovation

Online casinos are up for a new innovative venture from Yggdrasil Gaming. Internet lottery enthusiasts and wagers are given new gaming experience with some of the new releases by the net gambling developer. Continue reading Online Casinos Introduce New Internet Lottery Innovation →

Net Entertainment becomes the Major Online Gambling Customer Base

Net Entertainment was reported as one of Sweden’s Top 30 best employers for 2012. It was also revealed in the 2012 annual news to have a major deal and outstanding results for the company and its employees. Continue reading Net Entertainment becomes the Major Online Gambling Customer Base →

Play at Online Casinos without Going Overboard

The Cambridge News has released top tips for responsible Internet gambling. Certainly, this is something that will please the Federal Trade Commission in the US as it has long been campaigning for the same cause on its website ftc.gov. The article’s main aim is to help people who are regularly playing at online casinos net prevent developing their hobby into an addiction. According to the article, playing at casinos online is not that far different of a hobby when it is played properly. However, there are many players that go overboard mainly because they do not have any standards to follow to ensure that they are playing responsibly.

The article suggests that players should determine how much they can afford to lose. They should do it before they even sign up for an account at any online casinos or even stepping into a betting shop. Gamblers should make certain that they can afford to play. Those who are worried about their finances or having troubles with it would be better off opting for the free games instead. Doing so will not only allow them to save their money but also to get used to the online casinos’ rules before they even decide to engage in the real money games.  In addition, players must know when to quit. Many responsible gamblers decide to quit playing as soon as their funds are up by 15 percent or they have already lost the same percentage. It is best not to bother covering up the losses by playing longer and betting bigger. Apparently, the odds are against them. The general rule that gamblers should follow is to quit while they are ahead.

Additionally, they should take regular breaks. Gamblers should not take the most out of the online casinos net offerings in one sitting. They should know when to pause and wait for some time when new offerings come that seem to fit their budget and their preferences. With this, they will be able to face new games with a whole new perspective. Another essential tip is to play different games all the time. While some people think that playing the same game all the time increases their chances of winning, this is actually not always the best option. This is because they may be missing a lot more exciting games where they will not only gain more funds but have fun as well. After all, the main goal of playing at online casinos is for entertainment and not winning.

Fahrenkopf to Depart from AGA

One of the biggest names in the casino industry lobbying organization is about to say goodbye. American Gaming Association leader Frank Fahrenkopf Jr. has announced his departure from the organization to take effect on June 30, 2013. Since AGA’s establishment in 1995, Fahrenkopf has been its front man. According to his statement, he had already planned on stepping down two years ago. He is looking forward to a smooth transition when he finally ends his tenure after 17 and half years. His successor is still unknown. With Fahrenkopf’s many years in the industry, he has witnessed its ups and down including the evolution of traditional brick and mortar casinos to online casinos.

Fahrenkopf expressed the honor and gratitude towards working with the industry’s innovative and passionate leaders as it moves forward. The Reno based Bally Technologies, Inc. chairman, who is as well an AGA chairman; Richard Haddrill described Fahrenkopf as a thoughtful and steady leader who has guided the industry through significant changes. Fahrenkopf’s achievements include the establishment and growth of trade shows like the Global Gaming Expo in Las Vegas, the G2E Asia, promoting diversity in industry hiring and procurement, the National Gambling Impact Study Commission findings and recommendations and the creation of the National Center for Responsible Gaming.  Fahrenkopf also pointed out that the emerging online casinos net and all the other forms of Internet gambling are among the major threats in America’s casino industry on his speech during the Global Gaming Expo in October.  Fahrenkopf has introduced gaming events in the industry that became popular not only in the US but all throughout the world even in the social media sites like www.facebook.com.

MGM Resorts International’s CEO Jim Murren also described Fahrenkopf’s political skills as instrumental in promoting and protecting the industry’s interests on Capitol Hill. Murren goes on to explain that Fahrenkopf was able to successfully bring their disparate group together although it was never easy. Fahrenkopf was also hailed as the voice of a dynamic and controversial industry according to the chairman, president and CEO of Caesars Entertainment Corp, Gary Loveman. Also, Sen. Dean Heller called Fahrenkopf as a consistent and powerful advocate for issues that are important to Nevada. This is especially true with the current moves of land based casinos in Vegas to offer online casinos. Fahrenkopf, 73, will be serving as an AGA consultant after July 1.

Full Tilt still accused of Ponzi scheme

The world of online gambling and online poker is often under debate and these days it’s Full Tilt Poker that catches a lot of attention. Full Tilt went from being one of the top online poker rooms in the world to losing their license and essentially being shut down for their inability to pay back players. Now the CEO of the company, Ray Bitar, is in US custody after voluntarily turning himself in to authorities.

The challenge here is to determine if Full Tilt was just poorly managed or were they, as the US Department of Justice alleges, running a Ponzi scheme. Ponzi schemes are illegal in the US. Running a business badly, while not recommended, isn’t necessarily illegal. Now, this all hinges on the definition of a Ponzi scheme which is a business where investors are paid returns generated by money invested by incoming investors rather than from profit earned by the business.  The Ponzi scheme only works until new investors stop coming in. Then it fails.

Was Full Tilt doing that? The US Department of Justice says yes and basis this on the evidence that Full Tilt owed nearly $400 million to players worldwide when the FBI seized the domain in April of 2011 but the company only had $60 million in their accounts. So there was no way they could have paid out money that players were placing in their accounts. The missing money had been used to pay investors and, well, Ray Bitar.

The big issue here is that the funds involved were player funds, not Full Tilt funds. The way an online poker rooms operates is that player’s put the money they want to play with in their accounts and use that for games. The poker room collects a “rake” or small fee from the pot for each game played. Other than that, the money is wagered and moved from a losing player’s account to a winning player’s account. With Full Tilt, that wasn’t happening. The numbers showed that the money was being moved around, but the funds behind those numbers had actually been spent elsewhere. So when players went to withdraw their money, there wasn’t enough money to pay out what was owed.  The US wants to determine the issues behind that in court.

 

Have you been phished?

“So I clicked the link and all hell broke loose” was a statement I heard at a party lately. The problem? Well, the speaker had been phished and took the bait. She’d received an email about her Paypal account and clicked the link in the email to go to her account and update her information. The problem – well, the email wasn’t from Paypal and the link didn’t actually go to Paypal’s site. So, she provided a scam site with her paypal information, which gave them access to charge things on her bank account. In this case, she was caught by a Paypal scam, but Paypal is by no means the only site affected by phishing.

While this post isn’t directly about gambling itself, it is about a topic that all gamblers, particularly online gamblers, need to be aware of – phishing and spear phishing.  Phishing is the term used when a scammer sends out emails to people while pretending to be a company the receiver does business with. The emails are designed to make the person click on a link and provide account information. Often they sound urgent – do this or we’ll deactivate your account. But the links in the email are designed to go to a site designed by a spammer and collect information like passwords and account names.

People sometimes ask me – but how do they know I have a Paypal (or other) account? Doesn’t this mean they’ve already gotten hold of confidential information?  Nope. Here’s the thing. The spammers don’t care if they send thousands of emails to people who don’t even have an account they’re looking for. As long as they lure in a few people for every barrage of emails, they’re happy. This is why you sometimes get emails from big companies you’ve never done business with.

But the new aspect of phishing is called spear phishing and it becomes a bit more sophisticated. In spear phishing, spammers try to send the email from people the receiver already knows. These emails are seen as trusted and the hope is that the receiver will be more likely to follow the included link, that often goes to spam or other questionable sites.

Despite all the efforts of the FTC, there is no way to prevent phishing except educating everyone not to click on mysterious links in emails. Here’s what you need to remember, if you ever get an email from a company saying you need to update your account or provide your password, don’t click it! Instead go directly to the site itself by typing the URL in your browser. Check your details there. Or contact customer service directly with any questions. You’ll often find that they didn’t send the email.

 

Facebook apps for a fee?

Would you pay to play Farmville on Facebook? The Zynga app and Facebook itself have become fantastically popular partly because they are free. But that may be changing. No, we’re not going to have to pay for our Facebook account. That really would be a serious mistake on Facebook’s part because Facebook really exists so that they can market you to advertisers. That’s how they make money. And since Facebook began, application developers on the site have had two ways of making money – either through advertising or through paid premium content.

Playing Farmville on Facebook is free, but any Farmville fanatic will tell you that you can’t get certain bonus content for your farm unless you buy special dollars or coins with a credit card. Oh, you can also fell out surveys or buy items from advertisers, but essentially, you’re pulling out a credit card to give someone money.  So, would you pay to play the game itself? After all, it really is how most computer games operate. A developer creates the game and sells it to the customer who installs it on a computer and plays.  We know the process works. Will it work for Facebook?

I’m not sure. First off, I don’t play that many Facebook games because I don’t really like playing in the Facebook environment where my every activity is made public to the world. I’d rather pay for a game and play it on my own terms. This means I do pay for games.  So, if a developer were actually to make a game run better and be more fun on Facebook, would I pay to play there? What if was just a one time fee and not a subscription?  I might. I just might. But there are others who won’t, and even I would only pay for the rare game. So, developers will have to weigh the benefits of more players, which means more advertising reach, or paying players, which means direct payments.

I’ll be watching Facebook to see how this plays out. And of course I’m watching Zynga which has also moved to become a publicly traded entity and may be moving toward real money poker. Whatever the future hold, it’ll be interesting.

Ongame poker to be used in Nevada

Here’s the thing about Nevada granting online poker licenses, many of those applying are more familiar with how to operate in Nevada than they are with online poker. Oh, their familiar with real world poker. For example, Wynn Resorts has applied for an online poker license. Now Wynn runs casinos in Las Vegas. They’re in good with the Nevada Gambling folks. They’re in the know. On the inside. All those things. They just don’t have an online poker system to actually run the games themselves. Which could be a drawback for, well, poker players.

But not to worry. Those apply for online poker licenses have an answer. They’re going to team up with those companies that already have online poker systems ready to go. This means they’ll be able to get their online poker rooms up and running faster. It takes some time to develop, program, test and certify new online gambling software. Building an online poker system would take years and resources that the folks in Nevada don’t have. But online poker is played everywhere. The UK and EU are big online poker fans and we’ve even seen the results of that here in the US where the last few WSOP winners have been online players from the EU.

Wynn Resorts is apparently in talks with Zynga about online poker. It could work out well for both companies since Zynga already has over a million players on their “fun money” poker systems. And news is out that Bally, who has a Nevada license, will be using Ongame Poker to run their online poker room in the state.

Players may not immediately recognize the name Ongame, but they are behind brands like Betsafe Poker, Bwin Poker, and PokerLoco. You can find out more about them by checking out http://news.google.co.uk/