Issue N42, 2008
October 16, 2008
Betfair Launches In-Betting Option for Australian Horse Racing
The form of wagering known as in-betting has become so popular in the United Kingdom and the rest of Europe, that the leading gambling company, Betfair, has decided to offer in-betting to the Australian horseracing market as well. In-betting essentially involves wagering on a particular race even while it is being run. It has become such a hit around the world, that statistics show that nearly 20% of the bets placed on horse races in the UK are in-bets, with similar statistics in the rest of Europe.
“The in-running product will be a boon for the racing industry,” said the Chief Executive Officer of Betfair Australia, Anthony Klok. “With the concept comes a host of new ways to bet, stimulating interest in racing. We've been looking forward to offering this product to Australian punters on our local product for some time. Evidence from the UK suggests it’s a favorite with the punters and ultimately a great driver of interest in horseracing.”
Upon introducing the product to the Australian market last weekend, Betfair said in a statement: “As Betfair's Australian horseracing market depth and popularity continues to grow, the in-running product now promises to deliver similar benefits to customers betting on Australian horseracing.”
Kentucky Online Gambling Domain Case Irks Internet Analysts
It is not only the online casino industry that is up in arms over the Kentucky Governor Steve Beshear’s attempts to take over the domain names of 141 online gambling sites in bid to protect the gambling interests of the state. While Beshear claims that he wishes to protect the state’s citizens from the ‘evils’ of gambling, most agree that his main incentive is to guard the monopoly enjoyed by the state’s lottery and land based casinos.
The case has caught the attention of the wider community as well, with many non-gambling sectors indicating their dismay at the steps that Beshear is taking. Internet analysts claim that Beshear’s take over attempts could provide a dangerous precedent for other states or countries to use their powers in a negative fashion against any sites that displease them.“Lots of people are pushing back and explaining how ridiculous that scenario is to the judge, noting, for example, that following similar logic would allow any country to seize any domain name,” said a spokesperson for Techdirt, a leading internet analysis firm about the case. “For example, China could decide that the BBC website violates its laws and demand that the BBC domain name be turned over to the Chinese government. Most folks would recognize this as ridiculous - but it's effectively what the Kentucky governor has done.”
Mansion is Not Going Anywhere, According to Statement
Over the past few weeks, Gibraltar was rife with rumors that yet another gambling company was pulling out from this Mediterranean island and letting local staff go. Recently, both 888 and Party Gaming, situated on Gibraltar, have had to dismiss hundreds of staff members between them due to operational problems. Stories were circulating that the Mansion Group was also considering a move to another location – possibly Singapore or Israel.
However, after the Mansion Group was approached by a local publication to confirm the rumors, the company put out a statement, insisting that it was not going anywhere and that it was “proud to be operating in Gibraltar”. Mansion did admit, however, that it would be cutting down on the size of its IT firm, although it also said that it would be hiring more staff for its marketing and sales departments.
Bodog To Lose Millions in Compensation Ruling
BodogLife, the leading Canadian based online gambling group, faces the loss of $50 million after an American judge ordered the company to pay 1st Technologies damages for software copyright infringement.
The case began when 1st Technologies accused Bodog of copyright infringement, and the online gambling company chose to ignore all allegations. The case reached the District Court for the District of Nevada, which ruled by default that Bodog needs to pay the company $46 million in damages.
After realizing that the US judicial system meant business, Bodog decided to try and appeal the decision on several occasions. However, last week, the Appeals Court for the Federal Court announced that there were no grounds for scratching the earlier ruling and ordered Bodog to pay 1st Technologies the former sum of $46 million and another $4 million in interest charges.
BodogLife has lost more than money in this particular case. The Nevada court had also ordered the company’s domain registrar to remove the company’s original name of Bodog, as well as any other sites linked to its server, the billionaire Calvin Ayre.
The lawyer representing 1st Technologies said in a statement: “We are extremely gratified for our client that the Court of Appeals saw the merits exactly the way we did.”