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Russian bookmakers gear up for a 50 per cent rise in betting during World Cup

Niji Ng

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Photo credits: www.fifa.com
Reading Time: 2 minutes

The licensed online sports betting operators in Russia are bracing for a 50 per cent increase in the betting activity during the 2018 FIFA World Cup that opens today. However, they are not happy with the government support in their bid to tackle their international rivals.

Last week, Russia’s Deputy Minister of Foreign Affairs Oleg Syromolotov predicted there would be 50 per cent surge in betting activity during the World Cup, in a speech at an anti-sports corruption conference in Vienna.

Russia’s online bookmakers must agree as already there has been increased traffic to betting websites ahead of the World Cup. The government did it bit by slapping new restrictions that barred local financial institutions from processing payments between Russian punters and international gambling sites.

Syromolotov’s optimistic view was echoed by Yuri Krasovsky, president of the First Self-Regulatory Organization of Russian Bookmakers (First SRO), who issued a statement last week saying the new restrictions “will definitely complicate the activities” of non-Russian operators and “increase the inflow” to Russian-licensed sites.

Russia’s official telecom watchdog Roskomnadzor is doing its bit by ramping up its protectionist measures. Roskomnadzor blocked over 9000 online gambling domains in the month of May – around 300 per day – and blocked a further 2640 sites in just the first week of June.

But Krasovsky, who also runs Russian bookmaker Liga Stavok, insisted that the efforts of the Federal Tax Service (FTS) and Roskomnadzor “are clearly not enough” to eradicate foreign competition. (For the record, some 333 non-Russian Liga Stavok domains appear on Roskomnadzor’s naughty list. Just saying.)

Krasovsky wants the government to speed up plans to simplify the convoluted online account sign-up process and to relax rules requiring bookmakers to withhold a cut of bettors’ winnings for tax purposes. Only with this “integrated approach” does Krasovsky see Russian betting sites taking their rightful place as the only viable option for local bettors.

The FTS recently announced plans to “name and shame” both companies and individuals who violate local gambling laws by publishing the identities of offenders online. The new rules would require this info to be published on the government’s official online portal within three days of a conviction being handed down by the courts.

 

Source: CalvinAyre.com

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. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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Cryptocurrency

Police Nabs Four Ukrainians for Running Fake Cryptocurrency Exchanges

George Miller

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Police Nabs Four Ukrainians for Running Fake Cryptocurrency Exchanges
Image Credits: Cream Crypto News
Reading Time: 1 minute

Ukraine’s National Police nabbed four suspects, who reportedly ran six fake cryptocurrency exchanges in the country. They were arrested last week from Dnipro city, after which their homes were raided, and several computers and smartphones were seized. The police do not have any report on the stolen funds yet.

The alleged culprits lured users by promoting the exchanges with fake positive ratings and online reviews. The police reportedly said that the suspects had “special knowledge and skills in the field of programming” and “have created their own CMS-system for managing the content of exchange sites.”

During the raid of the suspects’ homes, the police reportedly seized computers, flash drives, smartphones, and other devices. According to a spokesperson for the Ukrainian National Police, “the list of sites is not complete.” Now authorities are asking users to provide information about whether they were deceived by fraudulent exchanges before.

Last Wednesday, the U.S. Securities and Exchange Commission received an additional emergency court order to freeze the assets of Dominic Lacroix, owner of PlexCorps. Lacroix and his partner, Sabrina Paradis-Royer, were accused of violating securities law in respect to the PlexCoin initial coin offering (ICO) conducted by PlexCorps in August last year. The ICO reportedly raised $15 million from “thousands of investors.”

 

Source: Cointelegraph.com

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Asia

Record sales for China’s sports lottery thanks to the World Cup

George Miller

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Record sales for China's sports lottery thanks to the World Cup
Reading Time: 2 minutes

China’s sports lottery is wittnessing a true boost from the 2018 FIFA World Cup, even without state-approved online sales channels.

According to the official China Sports Lottery website, sales for the week of June 11-17 totaled RMB7.33b (US$1.13b). The results reflect proceeds from the first few days of World Cup action, which kicked off on June 14. The sales total is 126% higher than the same week in 2014, the most recent World Cup year.

Looking at the first three days of World Cup action shows a distinct upward trend. June 14’s sales totaled RMB1.6b, rising to RMB2b on the 15th and then RMB2.3b on the 16th. Each day’s total represents a new record since the sports lottery launched in 2009.

The growth in this year’s World Cup lottery sales is all the more impressive given that sales are now entirely land-based, as the government suspended all official online sales in early 2015. The suspension followed an audit which revealed that many provincial lottery administration centers weren’t reporting all online sales while pocketing the difference.

But nature abhors a vacuum, and Chinese media reported last week that a number of popular online platforms and apps had been doing a brisk business via sports lottery sales. That is, until Beijing publicly reminded these platforms of the 2015 suspension and threatened backsliders with the usual consequences.

However, Chinese media noted that the cessation of this unapproved online lottery offering has led to a surge in informal World Cup betting pools on WeChat groups, with betting information being conveyed via private messages and money changing hands via the network’s infamous ‘red envelope’ feature. Wagers in some of these groups reportedly start at RMB300 ($46) and max out at RMB20k ($3,100).

Of course, every yuan spent via these unofficial online channels is one more yuan that’s not going to the government, which really should be sufficient motivation for Beijing to rethink their 40-months-and-counting online own goal.

 

Source: CalvinAyre.com

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Eastern Europe

Belarus’s Oldest Casino Operator Faces Bankruptcy

George Miller

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Belarus's Oldest Casino Operator Faces Bankruptcy
Reading Time: 1 minute

After the Olympic Casino, Belarus’ gambling market is very near to lose another well-known gambling brand.
From this month, the Economic Court of Minsk began proceedings on the bankruptcy case of one of the founders of the Belarusian gambling business – Novo-BR. The company operates the famous local casino network “U Admirala”.

The owners of the “most reliable casino in Belarus”, as the brand is positioned on its website, applied to the court to initiate bankruptcy proceedings. The reasons are related to debts of Novo-BR. According to the Ministry of Taxes and Duties, the Novo-BT failed to pay it’s taxes, and more likely that the casino operator has not paid salaries to its employees.

According to the data of the website of the Unified State Register of Information on Bankruptcy, a protective period was introduced on Novo-BR from June 13. It will be in force until August 1 this year.
“Novo-BR” is one of the oldest operators of the Belarusian gambling business. The company was established in 1993. Currently it owns the casino “U Admirala” and the slot machine halls in the hotels “Orbita” (Minsk) and “Tourist” (Gomel).

According to the Register of Special Permits (Licenses) for Gambling Activities, as of June 1, 2018, 106 companies owned gambling licenses. This year, five companies were granted permits to open casinos, slot machines and bookmaker offices. Establishments will be located in Minsk, Polotsk, Brest, Grodno and on the M-1 motorway in Dubrovno district.

 

Source: e-playonline.com

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