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GVC shares slip as Ladbrokes faces row over problem gambler hush money

Niji Narayan

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GVC Shares Slip on Ladbrokes scandal of payoffs to victims of Problem Gambling
Photo Source: sky.com
Reading Time: 1 minute

 

GVC shares took a beating as the row over alleged hust money payments  to problem gamblers by Ladbrokes emerge. The controversy is that  Ladbrokes, a subsidiary of GVC Holdings, had agreed to pay the victims of the problem gambler £1mln in return for a pledge to not inform the industry regulator.

The gambler admitted to having stolen the funds, with Ladbrokes agreeing to pay the money to five of the victims who accused the bookmaker of accepting stolen funds.

The company had offered to the victims the incentives including free tickets to Arsenal games, the company box at the Royal Ascot, and return flights from Dubai.

The issue came to light when the gambler reported the issue to the UK Gambling Commission, breaking the terms of the settlement.

An area of particular concern were text messages exchanged between the gambler and an account manager assigned to him, which raised doubts around the company’s compliance with regulations designed to prevent problem gambling and money laundering.

The UKGC, which monitors the industry, said it was investigating the matter to “ascertain the full circumstances” of the revelations.

Niji Narayan 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. He reports gaming industry headlines from all around the globe.

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eSports

Parimatch Partners With Team Spirit

Niji Narayan

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Parimatch Partners With Team Spirit
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Bookmaker Parimatch has announced a six-month partnership with the esports organisation Team Spirit.

As per the deal, Parimatch will support teams from across the organisation, including Dota 2 and CS:GO. Parimatch logo will appear on the players’ uniform, and the bookmaker will also be featured across the social networks of Team Spirit.

“Our company operates in the key markets in the CIS, so partnering with Team Spirit is a natural fit. The teams include well-known players, and we do not doubt the success of the dragon squads in the regional and international arenas. We value a systematic approach, competence during negotiations and dedication to eSports. We have already received exceptional support from the organisation’s management, and look forward to a close and productive partnership,” Stepan Shulga, Head of Esports at Parimatch said.

“Parimatch is undoubtedly the best bookmaker in the CIS market for eSports, and we are proud to work with them. When choosing a partner, we always pay special attention to the status of the company and its relationship with our audience. We are excited to partner with Parimatch, and I am sure that we will have a long and fruitful co-operation. Cheer on Team Spirit with Parimatch!” Nikita Chukalin, GM of Team Spirit said.

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Compliance Updates

German State of Lower Saxony Issues First Federal Payment Blocking Order

Niji Narayan

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German State of Lower Saxony Issues First Federal Payment Blocking Order
Photo Source: spokesman.com
Reading Time: 1 minute

 

As a part of the efforts to drive illegal igaming business from the country’s market, the German state of Lower Saxony (Niedersachsen) has issued an international payment service provider with a blocking order. The companies have been banned from doing business with operators offering online casino, poker and lottery betting in Germany.

“[The] pressure is now on other payment providers to reorganise their businesses processes related to illegal gambling, if they have not already done so. Online casino is no trivial matter. [It is] banned by the State Treaty on Gambling and [offering such products is] a criminal offence. In the meantime, however, it remains a billion-Euro market,” Boris Pistorius, Minister for Home Affairs and Sports said.

The Niedersachsen Ministry of Interior handed the responsibility for implementing payment blocking controls. Its blocking orders are effective across all German states. The Ministry also sent warnings to a number of other payment service providers over links to illegal gambling. Some of these companies have already responded by ceasing to power transactions for offshore sites.

“The successful interactions with some payment service providers shows that our approach is quite effective,” Pistorius added.

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Industry News

Greentube revolutionising iGaming integrations in 2019

George Miller

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Greentube revolutionising iGaming integrations in 2019
Reading Time: 2 minutes

 

With nJoin, Greentube has reduced the integration of its games into partner platforms from months to a few days, while providing a simple, interactive and transparent integration process. The tool enables B2B partners to quickly build up a knowledge base about Greentube’s games and platform features, launch and play its games as well as integrate, debug and fix issues on the fly. The tool is designed in a way that best fits the needs of Greentube’s B2B partners integrating its games into their platform.

Amir Gharani, Head of Games Integration at Greentube: “nJoin was a vision on paper last year, now it is a reality. Game integrations have never been easier and it’s amazing to see feedback from the operators on how easy, effective and transparent the integrations have become for them with nJoin. In addition, this project would never be completed without having such a team of highly talented and inspiring specialists. Greentube is on a mission to establish itself as the world’s leading B2B game provider and nJoin is an essential part of that journey.”

Michael Bauer Greentube CFO/CGO: “Our strategy is to continuously expand throughout Europe and the Americas. nJoin will be a catalyst in reaching our goals as future integrations will be more efficient and faster for both us and our B2B partners. I want to congratulate the team who did an amazing job from creating the concept until implementation. It is the first step in a series of innovations and improvements which we are planning to implement moving forward. Watch this space for more to come.”

The core features of nJoin are its test suites, which guide users through the implementation of any and all B2B interaction between Greentube and its partners. Easy bug fixing is facilitated though immediate feedback from the built-in diagnostic tools. At the end of the integration, the operator is able to run all automated test cases from start to end and will be provided with an overview on which tests have passed and which not.

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