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Monday, 03 April 2017 08:32

LeoVegas sports announces Ireland launch

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LeoVegas has now made an important announcement, that it has launched a new sports betting service in Ireland.

The company was recently secured a license in the country to go live with the LeoVegas Sport platform, and has now quickly completed all formalities to roll out the service.

LeoVegas now has a gambling licence in Ireland, UK, Denmark and Malta.

Gustaf Hagman, group chief executive and co-founder of LeoVegas, said: “We are very pleased that the licence process and the launch has gone in record time.

“Again, it is the combination of our efficient team and our technology platform that allows us to customise our product and launch in a short time.

“Ireland is an exciting market and it will be interesting to follow how LeoVegas Sports is received.”

Brand LeoVegas has done extremely well in recent years and this expansion to Ireland will certainly help boost the numbers and revenues for the company.

The actually assessment of this strategic move can only be termed a success or failure after a year down the line. For now its time to wait and watch.

Published in Betting News

Australia Online Betting

The Australian government has announced its plans for a point-of-consumption tax (POC) on online gambling.

Last week, Federal Treasurer Scott Morrison had a word with officials from states and territories across Australia over the matter ahead of the 2017 budget.

Speaking to the Australian media, Morrison stated an agreement had been reached to “move forward to prepare a proposal for a nationally consistent approach to point of consumption tax on online gaming”.

However, Morrison added that a move like this would be “about raising revenue for revenue’s sake”, but instead minimizing gambling-related harm for consumers and national sporting bodies.

Morrison did not reveal the timeline for the implementation of these laws and revealed that the country’s state and territory governments needed to look into the matter.

The proposed changes have come soon after the Australian Senate gave its approval to several amendments to national online gambling laws that will ban online poker and in-play sports betting.

Earlier in the month, the Senate gave the green light to changes set out in the Interactive Gambling Amendment Bill 2016, including legislation that bans all online gaming activities not specifically authorised within the new national codes.

Published in Betting News

Bet365 Australia Fine

In a significant new development, Australia’s Federal Court fined bookmaker Bet365 a hefty Aus$2.75 million (€1.8 million/US$2.4 million) for being guilty of advertising a incorrect ‘free bet’ offer.

As per media reports, the Court stated that the operator misled Aussie citizens with its ‘$200 free bets for new customers’ between March 2013 and January 2014 offer.

The Court also said that Bet365 did not sufficiently highlight the terms and conditions of the offer. In reality, customers needed to deposit Aus$200 in order to be eligible for the free bet.

Rod Sims, chairman of the Australian Competitions and Consumer Commission, took Bet365 to court. After the ruling, he felt a stern message has been delivered to other operators on this front.

“These penalties should serve as a warning to all businesses that is it not acceptable to promote ‘free’ offers as a headline offer without ensuring that any restrictions or limitations are disclosed in a prominent way.

“The Bet365 was the worst one; we're now writing to everybody saying: 'Look, it's clear you can't do this'.

“This is particularly relevant in an emerging industry like the online gambling market, where online and print advertisements target consumers who may not previously have used online gambling services,” Sims stated.

Apart from depositing Aus$200, the offer from Bet365 required customers to fulfill other requirements like wagering 3x their deposit and bonus within 3 months before withdrawing winnings and betting on higher risk transactions in order to avail the free bets.

Bet365 has been directed by the court to issue a corrective notice to customers that were misled by the offer. The judge believes majority of the 73,000 punters may have been deceived by the company.

Reacting to the court’s ruling, Bet365 spokesman said:

“Nevertheless, Bet365 regrets that, as a result of this error, it may not have adequately brought to the attention of customers’ terms and conditions associated with the promotion.

“Bet365 has introduced stricter compliance processes and controls, as well as improved staff training to prevent a similar issue arising again.”

Published in Betting News

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