Issue N15, 2007
April 19, 2007
Gambling Companies Merge
The gambling industry is seeing nowadays, more than ever, the merger of companies who are struggling to find a foothold in an increasingly competitive market. This is due in part to the Unlawful Internet Gambling Enforcement Act, signed last year in the United States – a law that forced many to rethink their position in the market. Two companies that have been prompted to make changes in the way that they do business are BetOnline and BestlineSports. These two have merged their online properties into one single brand and will be known as www.Betonline.com.
The new company will be moving away from telephone betting and adopting BetOnline’s focus on internet gambling instead. This was decided on because of the general gambling industry’s move away from regular line wagering and more emphasis on online gambling. The company – which will be based in Panama – does not seem too concerned about the tough competition out there. The CEO of BestlineSports went so far as to say: “… we revel in the competition, and with the strength of our new team, we say it’s ‘Game On’.”
Gamblers Optimistic Over the Future of Online Gambling
In a survey conducted by a popular online gambling site recently, players were asked what they thought about the future of internet gambling in the United States. Not so surprisingly, a comfortable 75% of those interviewed stated that they were confident that by the end of 2010, the Unlawful Internet Gambling Enforcement Act would be a thing of the past. Another interesting statistic that came out of the survey was that 42% of those questioned were quite certain that the UIGEA would be repealed by the end of this year.
The survey was run by 777.com – a site dedicated to online gambling information. All those who visited the site were asked to give their opinion about the future of the internet gambling industry in the United States, now that the country has outlawed the transfer of funds to and from online gambling organizations. Only 25% were not convinced that last year’s law would be amended.
Gambling Website Owners Meet to Discuss Support of UIGEA Repeal
This week the U.S. gambling industry listened with much interest to the plans of Democratic politician, Barney Frank who intends pushing for a repeal of last year’s UIGEA law in the country. Frank seems to be the first activist who is causing ripples in the United States relating to this subject, and he has even managed to cross traditional political lines by drawing into his circle of supporters several Republicans, such Washington’s Christopher Stowe and North Dakota’s Jim Kasper. In order to boost Frank’s efforts, several owners of top online gambling sites met this week to discuss how they could assist in his campaign to repeal the UIGEA.
The gambling sites have been toying with the idea of creating a form letter which would have supporters of the change in the act filling in their details and emailing it to Barney Frank’s offices. The owners want to make the process as simple as possible so that as many people as possible would take a couple of minutes to fill out the letter and thereby gain maximum support. It remains to be seen what kind of decisions will ultimately be made and whether anything comes out of Frank’s efforts in the industry.
32 Red Launches New Ambitious Sportsbetting Site
One of the most popular online casinos in the industry, the publicly listed 32 Red, recently announced the launch of its new ‘baby’ – the 32 Red Bet website. This follows close on the heels of the company’s decision to promote its online sportsbook platform, BetDirect. The initiative was launched to cleverly coincide with the Grand National, providing gamblers the opportunity to try their luck, using a new product on the market.
Ed Ware, CEO of 32 Red, stated that the site had a completely new look and would definitely appeal to users because of its easy navigation features, interesting new interfaces and greater markets. He also showed that the site’s launch ahead of the Cheltenham Festival had a positive impact on the site’s success in its first few weeks. "I am delighted with the launch of 32Red Bet and the much enhanced Betdirect online sportsbook in recent weeks," Ed Ware enthused.
32 Red Bet – which is managed by 32 Red PLC – is sure to enjoy tremendous success in the online gambling market. The site has the backing of one of the top companies in the world and is affiliated with the award winning online casino, 32red.com. The new company is also listed on the London AIM and Ed Ware commented that management was pleased that the site’s first quarter trading was well within the realms of expectation, thanks to its successful launch.