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June 3rd General news ... Sports Gambling odds created to assist the sports bettor in properly handicapping
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500.COM IN MAJOR CHINESE MOBILE DEAL
The rapidly growing Nasdaq-listed sports lottery firm 500.com has clinched a major two-year deal that will see it become the sole provider of online sports lottery products to the state-owned China Mobile, which operates the huge Points Mall online marketplace.
Points Mall online marketplace is an enterprise that has 770 million subscribers, who redeem loyalty points.
China Mobile subscribers will be able to use their loyalty points to buy online sports lottery products through 500.com as a result of the agreement.
Man San Law, founder, chairman and CEO of 500.com said Thursday: We expect to see sales volumes increase significantly as our products become available to China Mobile's 770 million subscribers.
We look forward to developing an even deeper relationship with China Mobile as we work to integrate our products into their vast ecosystem.
The products provided by the company will be available in all of China's 31 provinces, municipalities and autonomous regions. China Mobile will reimburse 500.com for the products purchased in cash.
500.com provides lottery purchase and information services to China Mobile users through its internet, mobile apps, WAP and SMS channels.
UK GAMBLING COMMISSION HEAD DISCUSSES NEW U.K. LICENSING LAW
Jenny Williams, the head of Apuestas Deportivas Golf Betting Online Bingo Ben Affleck betting odds to win Poker Madden Betting Pandemonia Britain's Gambling Commission, spoke on the imminent implementation of the new point-of-consumption laws and tax regime at an international gambling conference in Barcelona last week, telling delegates that her organisation expects to process around 150 applications from online gambling operators, and revealing that several applications have already been submitted.
Williams opined that it was unlikely that opposition to the new law by the Gibraltar Betting and Gaming Association (which is seeking a judicial review on the EU legitimacy of the law) would derail the implementation process.
Its full steam ahead. It wouldnt be fair to those that have spent a lot of time getting ready to hold back now, she said, noting that some operators were active across multiple jurisdictions, and it was essential that the Commission was in a position to know whether these companies are "...wilfully disregarding somebody elses regulations.
Its also about financial riskiness if companies have a lot of risk in grey markets we might be concerned, she added.
Williams said that on the positive side, the British system was open and consistent, and the licensing fees were very reasonable.
There are lots if reasons why it makes sense to be licensed [in the UK]" she said, pointing out that unlicensed operators would not be allowed to market their products to UK online punters.
The Commission supported the p.o.c. concept because it provided regulatory access by the Commission to major operators based outside the United Kingdom but accessing and profiting from British internet and mobile gamblers, Williams explained.
The new secondary licensing framework makes the Commission's oversight more effective in terms of understanding the operators and how they conduct their businesses, she said.
The changes mean we will be infinitely better placed to assess risks and implement change," she concluded.
PREVIEW OF NEW ONLINE SLOT FROM NET ENTERTAINMENT
The prolific Swedish online gambling games developer Net Entertainment has made advance versions of its latest 5 reel, 9 pay-line online titled "Attraction" available to selected licensees and affiliates.
Players discussing the new game claim that it is a clone of the company's popular Starburst offering, with a theme based on magnetic attraction.
The game substitutes re-spins for free spins, with the magnetic symbol the key to rewards, along with more traditional awards like Wilds and a Bonus Game.
U.S. AND JAPANESE AUTHORITIES MOVE ON BITCOIN
With a reported 50 to 60 percent of Bitcoin transactions involving online gambling, it is hardly surprising that the industry is keeping a close eye on developments in the highly volatile cyber-currency, which has come under DDoS attack on several sites recently, contributing to the bankruptcy of leading Bitcoin exchange Mt.Gox in Japan (see previous InfoPowa reports).
Whilst government officials around the world have so far not acted on the remarkable rise of Bitcoin in both volume and value, it now appears that they are taking a more active interest in the virtual currency.
Last week the Reuters news agency reported that Manhattan U.S. Attorney Preet Bharara has sent subpoenas to Mt. Gox, other Bitcoin exchanges, and businesses that deal in Bitcoin to seek information on how they handled recent Distributed Denial of Services (DDoS) attacks.
At least three exchanges were forced to halt withdrawals of Bitcoins early February, including Mt. Gox, which was the largest at the time, but failed to resume service. That left customers unable to recover their funds, driving the value of the currency down.
Japanese authorities are also reacting, with Finance Minister Taro Aso saying Tuesday that the government is still trying to establish what caused the collapse of the Tokyo-based Mt. Gox and whether crime is involved.
"We still have not had a clear grasp of the situation," Aso said in response to a reporter's question after a cabinet meeting. "(We) don't know if it was a crime or just a bankruptcy."
Mt. Gox filed for bankruptcy protection in Japan last Friday, saying it may have lost nearly half a billion dollars worth of the virtual currency due to hacking into its faulty computer system.
Reuters says February was a tough month for Bitcoin investors, with cyber-attacks on several exchanges, and a sharp fall in Bitcoin's value. The losses were most dramatic on Mt. Gox, where the value of a Bitcoin fell to about $135 from $828.99 before February 7.
Some analysts have claimed that Mt. Gox's troubles may go deeper than cyber-attacks. Mike Hearn, a Bitcoin developer in Zurich, Switzerland, told Reuters:
"Mt Gox has been broken and it was obvious there was something really bad going on there for nearly a year. They were processing withdrawals very slowly and generally being very opaque about what was going on there."
Reuters reports that a document circulating on the Internet and purporting to be a crisis plan for Mt. Gox, said more than 744,000 Bitcoins were "missing due to malleability-related theft," and noted that the Bitcoin exchange had $174 million in liabilities against $32.75 million in assets.
It was not possible to verify the document, but if true, this would imply that approximately 6 percent of the 12.4 million Bitcoins minted could be considered missing, according to Reuters.
With government investigations now clearly commencing, developers are working on fixes to strengthen Bitcoin's software against cyber-attacks, says Gregory Maxwell, one of the Bitcoin software's core developers.
WHITE HAT GAMING ADDS EZUGI LIVE DEALER ACTION TO PLATFORM
Live dealer provider Ezugi and White Hat Gaming have inked a deal that will see Ezugi content on the White Hat Gaming platform soon.
The distribution deal involves Ezugi providing its entire portfolio of games including Black Jack, Roulette, Baccarat and Live Lottery. All of Ezugis live dealer games will be available in a mobile HTML5 version as well as the Android native application.
Max Wright, CEO of White Hat Gaming, said: This partnership further enhances the product offering to our clients, and confirms our commitment to working with the most innovative online live casino gaming providers.
Ezugi CEO Kfir Kugler said that a growing number of online gambling operators were opting for live dealer action, which his company was positioned to supply following product innovation and development.