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Move to privatise Brazillian lottery postponed

Niji Ng

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Move to privatise Brazillian lottery postponed
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The National Bank for Economic and Social Development of Brazil has declared the postponement of the process to privatise the country’s exclusive instant lottery called Lotex. The move will not materialise until 5 February 2019. The earlier decision was to start the process in the first week of December.

The country’s President-elect Jair Bolsonaro will take charge on 1 January 2019. The authorities seem to think it appropriate to start the process after the new president formally assumes office.

The new postponement was announced through the official journal of the federal government of Brazil, the Diário Oficial da União, in which it was detailed that offers will be accepted next 30 January 2019, once Bolsonaro is already President. The authorities project that the privatisation will allow the state to rake up to €147 million in three years.

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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Chandler to tap Kenyan market

Niji Ng

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Chandler to tap Kenyan market
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Victor Chandler (67), the veteran gambling entrepreneur who founded BetVictor, is setting his eyes on the Kenyan market. His African betting business wing BetLion is targeting Kenya and Tanzania for potential expansion.

The company is already working on online betting project with FSBTech in Uganda.

Kenya and Tanzania are the next targets. BetLion will face strong competition in the Kenya market. There are 36 licensed operators are currently active in the country.

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Russia to make self-regulatory organisations defunct

Niji Ng

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Russia to make self-regulatory organisations defunct
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Russia’s Ministry of Economic Development has decided to abolish the three self-regulatory organisations (SROs) in the country, recent media reports suggest. The SROs represent licensed bookmakers’ interests. The ministry is of the view that these organisations are duplicating functions of the Federal Tax Service (FTS).

The First SRO of Russian Bookmakers and the Bookmakers SRO were started some years back to help bookmakers prepare the ground for Russia’s licensed online sports betting regime. The SROs each run centralised online payment hubs, known as TSUPIS, which is obligatory for all betting payments and allows the government to monitor all online activity.

According to a proposed new bill, bookmakers can receive online bets from players who have been identified in the centre of online bets control. The new legislation also allows centre to simplify the identification of gambler. The bill also establishes standards for licensing control of bookmakers.

There are industry stakeholders who see the move with suspicion. According to Nikolai Oganezov, chairman of a bookmaking subcommittee of Russia’s Chamber of Commerce and Industry, the abolishment of SROs may bring chaos to the legal bookmakers market.

Russia currently has 16 licensed online betting operators. Recently Betting Business Russia has published a ranking of online traffic for the most visited betting websites in Russia.

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Gambling shares down in UK following ad ban

Niji Ng

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Gambling shares down in UK following ad ban
Photo Source: bloomberg.com
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The shares of gambling firms were down in the UK following reports about a proposed ban on gambling advertisements in television during sports broadcasts.

Shares of William Hill and 888 fell by almost 3 and 5 per cent, respectively. GVC’s shares lost 5.6 per cent of its values. Media reports suggest that these three companies and other members of the Remote Gaming Association (RGA) had agreed with the advertisement ban. RGA has since clarified that these are rumours. However, it does not seem to convince the stock exchange.

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