New Gaming Act on to UK Gambling Ads and Online Casino Singapore
Britain’s new Gaming Act will aim to regulate a wider coverage of online gambling operators, and thereby serve as a stricter watchdog to advertising. This was according to Tessa Jowell, Secretary of State for Culture, Media and Sport, speaking before attendees at the annual general meeting of the British Casino Association.
The Gaming Act of 1968 clearly states the illegality of an advertisement that offers any incentive, inducement, or encouragement to gamble. The law in its present form, however, fails to cover a majority of online gambling companies operating offshore, admits Jowell.
The new Gaming Act, which will take effect in 2007, will expands its scope to include those overseas gambling operators. A heavier penalty, from £5,000 in fines up to two years of imprisonment, will be imposed on law violators.
Prior to 2007, the British lawmakers will work in consultation with the Gaming Board in defining when online gambling advertising is acceptable and when it is not, adds Jowell.
The Payne-less Struggle Towards The Top of Internet Gaming
‘’Online gaming is licensed and taxed in 63 countries worldwide and the United States should be taking advantage of this $10 Billion market,’’ Nigel Payne, Chief Executive of Sportingbet PLC, said in an interview for CBS 60 Minutes.
Sportingbet operates a number of brands, the largest of which are Sportsbook.com and ParadisePoker.com and for Online Casino Singapore
‘’Gambling has existed since the dawn of time,’’ Payne added during briefings with decision makers in Washington.
‘’America is one of the largest gambling markets in the world with developed gaming in lotteries, casinos, horse racing, dog racing and sports. Gambling exists in every country in the world. The right thing to do, the responsible thing to do, is to regulate it and embrace proper social parameters through regulatory control.’’
In it’s results for the 12 months ending July 31, 2005, Sportingbet reported an operating profit before good will and exceptional items of $US105 million, up from $US 36 million the previous year. The number of customers worldwide using Sportingbet’s facilities increased by 123 per cent to 2.7 million and the number of sports and gaming bets was up 51 per cent to almost 400 million from 265.5 million in 2004.
Sportingbet, headquartered in London, England, is the world’s leading publicly traded online betting, gambling and gaming company. It has been voted number one in the industry for two years in a row by the authoritative eGaming Review Power 50 Survey.
Sportingbet also won the 2005 eGaming Award for best US-Focused company with its flagship brand sportsbook.com. Sportsbook.com is the largest sportsbook and casino on the planet, offering numerous products including sports betting, horse racing, poker, casino and virtual games.
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