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Illegal gambling sees Russian punters pouring over $1 billion per year into offshore shell accounts

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Illegal gambling sees Russian punters pouring over $1 billion per year into offshore shell accounts
Photo: AFP-JIJI
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At least $1 billion a year is believed to be pouring into offshore accounts of Russian shell companies linked to just one semi-legal but blossoming industry: online gambling.

This poses a new challenge for Russia as it prepares to host the World Cup in June and July — the country has already been plagued for decades by allegations of match-fixing in its domestic soccer.

No one expects illicit betting to play a role on the pitch when soccer’s most celebrated competition kicks off in 100 days.

But it represents another dark corner of Russia’s economy that the authorities have struggled to police.

The total turnover volume of the legal and offshore online bookmaking market is more than $2 billion (€1.6 billion) a year,” Anton Rozhkovsky, the director of the government-mandated TsUPIS online betting payment system, said.

We do not pretend to know if the actual figure is $2.5 billion or $4 billion,” he said. “Around 70 percent of that is illegal, offshore business.”

Pent-up demand for organized gambling was unleashed with the collapse of the Soviet Union and led to glitzy casinos and seedy slot machine halls opening across Russia.

They skirted paying taxes but were not strictly illegal.

The government tried to impose order by shutting them all down in 2009 and allowing bookies to open sport betting shops that instantly gravitated toward soccer.

Improved internet access pushed most of these punters online and produced a legal vacuum filled by scores of anonymous websites with no licenses but burgeoning business.

Russia’s Bookmakers Rating gambling analysis center pegged the entire industry’s annual turnover at $11.8 billion in May 2017, 65 percent of it made in illegal online bets.

It also expected the market to triple in the next five years thanks to high-profile events such as the World Cup.

We expect colossal interest in the World Cup,” said Alena Sheyanova, spokeswoman for the legally registered bookmaker Leon. “The legal online betting industry is developing at phenomenal rates.”

TsUPIS took its first registered bet in February 2016 and is servicing 15 authorized bookmakers.

One of these is an established Austrian brand that jumped through the hoops to obtain a license last year.

But popular Irish and British bookies do not take Russian bets and the other 14 bookmakers are local startups.

Most of the rest are small offshore companies registered in the Netherlands Antilles, Costa Rica or European jurisdictions such as Malta and Gibraltar,” said Rozhkovsky.

Bettors going the legal route are required to pay a tax and submit identity papers in person with both TsUPIS and each bookie they use.

The laborious process can take weeks and is simply evaded by illegal websites appearing under the .com rather than Russia’s national .ru domain.

People skirt sporadic bans on such sites by using a virtual private network (VPN) to access the unfiltered internet.

Because of these technicalities, our business is not developing as quickly as it could,” Leon’s Sheyanova said.

Analysts further worry that “gray money” placed in offshore accounts may allow fixers to illegally profit off Russian soccer undetected.

Anzor Kavazashvili is a former Soviet goalkeeper who played in the 1966 and 1970 World Cups and more recently tried stamping out match fixing after being encouraged by former UEFA boss Michel Platini, who was deposed in 2015 for ethical breaches.

It was 2011 and “Platini told us we were the only country in Europe without an agency in charge of match fixing,” the 77-year-old said in an interview.

We knew games could be fixed by players, trainers, player agents and referees. So we took on a comprehensive approach.”

Kavazashvili did not last long. A scandal over a refereeing decision led to his independent council being disbanded in 2012.

Suspicious results in games were a staple of Russian soccer from the 1990s into the early 2000s. The most glaring involved smaller teams owned by local governments or businesses and playing far from the glare of the national media.

Kavazashvili said sarcastically that “our respected bookies” often played a leading role.

Some betting houses were especially fond of spreading match fixing rumors to get officials to annul results of clean matches where they were due to pay out on big bets.

The situation in the Premier League seems to have improved with time because teams are increasingly being treated like businesses.

Clean clubs have appeared whose owners see no profit in fixed results,” said Echo of Moscow radio sport commentator Anton Orekh.

But the lower leagues remain unmonitored and they, pointedly, receive an estimated one-fifth of all soccer bets.

 

Source: japantimes.co.jp

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BOS agrees with KV’s/KO’s advertising assessment of “Trisskrapet” in TV4

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The Swedish Trade Association for Online Gambling (BOS) agrees with the Swedish Consumer Agency’s (KV) and the Consumer Ombudsman’s (KO) assessment that the daily scratch card commercial “Trisskrapet” in TV4 is an advertising feature, and thus not an editorial feature. BOS welcomes that KO is now ending that part of the process.

If Svenska Spel does not stop the advertising elements, BOS looks forward to KV following up on its earlier call to Svenska Spel to comply with the provisions on advertising identification and broadcaster declaration in section 9 of the Marketing Act and the information obligation in ch. 15. Section 3 of the Gambling Act with information on the 18-year-old age limit and where to turn in case of gambling problems.

– The Swedish gambling market must be characterized by a high level of consumer protection. A cornerstone of good consumer protection is that people are clear about what constitutes gambling advertising, i.e. that they are not tricked into thinking that an advertising feature would instead be an editorial feature. The daily “Trisskrapet” on TV4 has been anything but clear on that point, and we welcome that KO now finally establishes that the features constitute advertising and nothing else, says Gustaf Hoffstedt.

– Now it remains for Svenska Spel to introduce the mandatory consumer protection labelling of Trisskrapet. Since the company has not shown any excessive eagerness to introduce this voluntarily, KO should ensure that this happens as soon as possible. Every day and every “Trisskrapet” that does not contain the mandatory consumer protection label is another lost day for a safe and secure gambling market, Gustaf Hoffstedt concludes.

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Expanse Studios Launches in Bulgaria with Inbet

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Expanse Studios, a leader in online gaming innovation, has secured a Bulgarian iGaming license and is now live on Inbet’s website. This expansion brings Expanse Studios’ popular game offerings including turn-based strategies gamified for iGaming, classic slots, traditional card games and the highly-acclaimed ones like Titan Roulette, Clown Fever Deluxe, Wild Icy Fruits, White Wild Whale and Joker Poker to Bulgarian players.

Diverse Gaming Portfolio Now Available to Bulgarian Players

With the Bulgarian market entry, Expanse Studios introduces a versatile gaming experience to Inbet’s platform. The offerings include a dynamic range of games tailored to diverse player preferences:

  • Turn-based strategy games: Leveraging gamification, these games transform traditional strategy gameplay into engaging iGaming experiences, suitable for both novice and experienced players.
  • Classic slots: Players will enjoy a variety of themed slots that combine traditional gameplay with modern graphics and sound.
  • Traditional card games: A selection of popular card games offer something for every card game enthusiast.
  • Titan Roulette: This standout feature, known for its immersive experience and innovative design, continues to be a favorite among roulette players.

Commitment to Quality and Compliance

Expanse Studios not only cultivates a diverse gaming library but also adheres to stringent regulatory standards to ensure a secure and fair gaming environment. The acquisition of the Bulgarian iGaming license is a testament to Expanse Studios’ commitment to compliance and excellence in the gaming industry.

The partnership between Expanse Studios and Inbet marks a significant milestone in Expanse Studios’ expansion efforts. By combining Expanse Studios’ innovative gaming solutions with Inbet’s established market presence, both entities are set to offer a superior gaming experience to players in Bulgaria and potentially beyond. As Expanse Studios continues to develop and release new games monthly, Bulgarian players can look forward to a continually evolving and enriching gaming landscape.

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Week 17/2024 slot games releases

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Week 17/2024 slot games releases
Reading Time: 5 minutes

 

Here are this weeks latest slots releases compiled by European Gaming

Belatra Games, the specialist online slots developer, is on point with its latest sharply designed game, Golden øks. This Norse-inspired adventure carries on from the popular Axe of Fortune title that hit the market at the turn of the year. Golden øks is set against a 5×3 layout and is brought to life with a powerful soundtrack to heighten the atmosphere.

Belatra grows games portfolio with Golden øks title

Endorphina, has announced the release of its brand-new title, Jolly Queen, which will join its portfolio on April 27th. Jolly Queen is a 5-reel, 5-row fruit slot with 50 fixed paylines, introducing players to the lifestyle of the nobles. On top of the aristocratic ambiance, Jolly Queen provides players with Free Games, allowing them to master the reels.

Endorphina releases its newest title - Jolly Queen!

Evoplay has released Candy Craze, a vibrant slot stacked with features and modifiers, including the powerful Gum Drop Multiplier which boosts win potential. Set amidst the backdrop of sumptuous sweets within a cloudy landscape, the 5×5 cascading reels title gives players a sugary rush when the Gum Drop Multiplier activates, revealing a mystery value at the end of each winning spin up to x100, enhancing the chance for wins during the main game and Free Spins.

Yggdrasil, a leading iGaming publisher, has revived the gold rush in a jackpot-filled game that embodies the spirit of old west prospecting in Gold Frontier Jackpots FastPot5™. Fans of lower volatility slots with straightforward mechanics that get fortune seekers right to the heart of the action are tasked with gathering keys to enter the treasure bonus game.

Relax Gaming is offering players some opulence in its latest release Sultan Spins. This high volatility slot sees its gold-trimmed reels set against a sprawling desert metropolis. Players have the chance to rack up riches via an entertaining free spins feature and lucrative local jackpot.

Greentube has introduced its latest title in the popular Diamond Link ™ series, Diamond Link ™: Mighty Dwarves Inc. Set deep in underground mines, this adventurous 5×3 slot is packed with innovative features for ample chance to win across its 25 paylines when players spin the reels adorned with hammers, hard hats and laser symbols.

Get your eyes ready because it’s time to take a trip to the pet centre to meet the ugliest, quirkiest, wildest-looking pets you’ve ever seen in the brand new slot, Fugly Pets, from Stakelogic. Fugly Pets takes players to a banged-up old pet store to explore its collection of weird and charming, downright ugly pets. Meet a scruffy parrot, a catnip crazed kitty, and an unfortunate-looking little dog.

 

 

Load your tackle box, bait your hook and get ready to reel in the catch of the day in Fishin’ The Biggest from Apparat Gaming, the in-demand German software provider’s latest splash hit slot that sees players trawl the sea for free spins and massively multiplied prizes. Played over five reels, three rows and ten fixed paylines, Fishin’ The Biggest is a highly-volatile title with an outdoor angling theme.

Thunderkick has announced the launch of Midas Golden Touch 2, the highly-anticipated sequel to the acclaimed 2019 original. This latest release invites players to rediscover an enchanted realm where everything King Midas touches turns to gold. The 3×5 video slot boasts 15 paylines and showcases Thunderkick’s signature high-quality design and innovative features.

Belatra Games, the specialist online slots developer, has served up another classic with its tasty Chef’s Sticky Fruits slot. This latest release from Belatra’s studio  is a vibrant and juicy addition to its renowned catalogue of slots. It’s a 5×4 slot game bursting with colour that’s heightened with an upbeat, retro soundtrack that perfectly captures the essence of fun at the heart of every play.

Belatra serves up tasty Chef’s Sticky Fruits slot

3 Oaks Gaming has launched 3 China Pots: Hold and Win, the first time the company has integrated the popular 3 Pots mechanic within a Far East-themed title. The latest instalment from 3 Oaks to incorporate the 3 Pots functionality sees players transported to the allure of the Orient, where the Extra, Double and Multi modifiers influence the Bonus Game once activated.

3 Oaks Gaming presents a feature-rich trip to the Far East in 3 China Pots: Hold and Win

Pragmatic Play has unleashed roaming wild re-spins and random guaranteed wins in Release the Bison. Symbols of the American frontier abound in this 5×4 slot, where hitting four or more rampaging bison triggers the wild re-spin feature, during which all wilds roam the reels to boost win potential.

Blueprint Gaming’s latest slot release tasks players to look for the leprechaun’s pot of gold under the water rather than at the end of the rainbow in Plenty O’ Fish, a 6×4 hybrid of sea creatures and shimmering rewards. Players must look to unlock a tackle box of treasure with a jaunty leprechaun being the key to wins, lurking behind a dynamically coloured underwater background that changes when the bonus game is triggered.

Booming Games has launched its latest sweet sensation to its collection of engaging slot games – Fruit Heaven Hold and Win™. This is a deliciously designed 5×3 slot game with 25 paylines, which promises players an exciting experience full of fantastic fruity features and Stacked Wilds.

Wazdan is multiplying jackpots in the follow-up to its top-performing game Mighty Wild™: Panther Grand Gold Edition. Venturing to the depths of the jungle where a black panther rules the reels on a 5×3 gameboard, the new edition provides even larger win potential. With the increased value of the Cash symbols and Cash Infinity™ symbols, there is also a more lucrative Grand Jackpot of 1500x the base bet.

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