Online Casino and Gambling News: October 2009

Software wins 16bn yen on the horses; owner disappears with the loot

Predictive software that generated horseracing wins of 16 billion yen; a mysterious Briton who slipped away despite surrendering his passport; frustrated Japanese taxmen and a well timed death look like the ingredients for a great whodunnit novel, but according to the Asahi Shimbun its reality all the way.

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EGBA against French licensees starting over on player bases

Yet another amendment to the French draft legislation on gambling currently being debated by the National Assembly is creating waves in the industry. The amendment, which the Assembly has approved, requires those Internet companies applying for licenses when the liberalisation of the French market comes into effect in 2010 to close the accounts of French residents on their playerbases, effectively making them start afresh.

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Late changes to French draft exclude betting exchanges

The French draft law to liberalise the gambling industry in that country is currently being debated by the National Assembly, but news of late amendments to the draft is unlikely to please online betting exchange giant Betfair.

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Gamcare problem gambling enquiries up 20% this year

The vital importance of ensuring that responsible gambling programs are maintained at the highest levels of efficiency by gambling operators was highlighted this week by the news that appeals for help to problem gambling charity Gamcare have increased by 20%.

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Griffiths study on problem gambling challenged

Last month's alarming claims by a UK academic that online gambling is more likely to create problem gamblers than offline equivalents have been challenged by a gambling expert.

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Nevada August gambling revenues down 9% on last year

The stressed economic situation continues to impact Nevada land gambling venues according to official figures for August 2009, which show that casinos won $847 million from gamblers in August, a 9.3% decline compared with the same month in 2008.

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Danish draft law on internet gambling runs into EC trouble

Denmark's draft law designed to appease the European Commission and create a more open but still limited online gambling market in the Scandinavian country ran into difficulties with the Commission this week.

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Ladbrokes confirms £275m rights issue

UK online and offline gambling group Ladbrokes plc has confirmed market rumours that it is to seek a rights issue to raise more cash. In a statement Thursday the British bookie firm confirmed that it will seek to raise £275 million through a discounted rights issue.

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Three million French citizens use offshore betting sites

The French National Assembly debate taking place this week on the coming liberalisation of the hitherto monopolised gambling market has continued to grab the mainstream press headlines.

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Ladbrokes refuses to comment on rights issue reports

The UK online and offline gambling group Ladbrokes plc has so far declined to comment on rumours sweeping across the London market Wednesday that it is about to initiate a rights issue to raise £300 million in order to pay down a reported £960 million debt burden.

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