Issue N21, 2009
June 4, 2009
Changes to eCOGRA Affiliation Seal
The eCommerce Online Gaming Regulation and Assurance (eCOGRA), an independent, watchdog group based in London, that sets industry standards in the online gambling world, has announced changes to its affiliate program Trust Seal. The seal is traditionally awarded to affiliates who meet the rigid standards set by eCOGRA and the updated new code should bring about even greater control to these programs.
eCOGRA said that it would only be able to apply its control over affiliate standards that willingly comply with its group’s demands and that were inspected and audited by the group. It said it could not – and would not – be drawn into conflicts involving programs that were not in its jurisdiction of control.
"The Directors have decided to make available a more focused certification process which will fine tune our certification," said the Chief Executive Officer of eCOGRA, Andrew Beveridge, when asked to explain the changes facing affiliate programs with the new Trust Seal standards. “This will mean that the eCOGRA compliance system will concentrate on the following key areas of affiliate program activity:
- Affiliate revenue is calculated accurately and deductions are correctly allocated.
- Payments are completely and accurately processed.
- Preventative and detective controls are in place to ensure accurate and correct linking of players to affiliates.
- Program software applications are developed, implemented, maintained and secured in a manner representative of best practice international standards.
- Affiliate programs shall be able to demonstrate that they can recover from a disaster system.”
Youbet Chooses New President
The gaming firm Youbet, has announced some changes to its executive makeup in a bid to spread the talents of its leaders and become more effective overall. The group, based in the United States, appointed David Goldberg as Chief Executive Officer and President. The man who had, until now, occupied that role, Michael Brodsky, now becomes Youbet’s Executive Chairman.
"I am thrilled for the opportunity to lead Youbet as the company continues to expand its services and product offerings, while keeping our focus on strong profitability and increasing long term shareholder value," noted Goldberg. "I want to thank Mike for bringing me into the fold last year and for performing truly transformative work by moving Youbet into a profitable e-commerce company while at the same time vastly improving the operations at United Tote."
Brodsky’s role will also include dealing with legislative matters and it is believed his will use his clout to back Barney Frank’s proposed bill to bring about a change to the current Unlawful Internet Gambling Enforcement Act (UIGEA). The bill is aimed to introduce a more legalized and regulated online casino industry in the United States.
"I am very excited for the future of Youbet,” continued Brodsky. “Mike has re-energized our team and with a clear strategy firmly in place and the tools to execute that strategy, we are confident we can become a global player in the ecommerce industry while maintaining and growing our leading position in the advance deposit wagering and online gaming sector.”
Playtech Shares Jump With New Licensee Deal
Playtech, the industry leading software group, has seen its shares climb by as much as 10% in London this week, following news of a licensing deal that it signed with Betfair – one of the most popular online gambling operations in the United Kingdom. Playtech announced that it would be providing Betfair with bingo and casino games, and would also be including a range of betting services. The software would complement the games provided to Betfair by Orbis and Wagerworks.
This is the first time that bingo is being offered to Betfair players and is definitely an acknowledgement of how fast the popularity of this game in spreading in the United Kingdom and throughout Europe.
No official word was given about whether Playtech’s new package to Betfair would include its poker brand, but it is believed that this subject is still under negotiation.
The Chief Executive Officer of Playtech, Mor Weizer said the deal was "a significant endorsement of Playtech's market leading gaming products and this partnership exemplifies our strategy of rapidly expanding our licensee roster... across all markets."
Playtech has made important moves into the gambling market in the past year, highlighted with its major venture with William Hill, which saw the group obtain 29% of the new William Hill Online product brand. Other groups that are licensees of Playtech include Betfred and Paddy Power.
"We see the Betfair agreement as highly significant in terms of revenue potential, geographic reach and as a clear endorsement of Playtech's market-leading products and services," said an analyst with Playtech's house broker, Collins Stewards.
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