Josh Andrews

Partypoker To Sponsor PGA EuroPro Tour In 2019

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Online poker behemoth PartyPoker has recently announced a new sponsorship agreement with the PGA EuroPro Tour in 2019. The deal which was announced on November 1 will see the renowned online poker company feature at stops on EuroPro Tour which acts as a feeder for the European Tour and the Challenge Tour. In addition to branding during the 2019 season, there will be more “promotional opportunities” with some of the golfers as well as visibility across the organization’s social media channels.

While this sponsorship deal will give Partypoker additional opportunities to promotes its brand, the company has been part of some pretty lucrative partnerships in the past. In 2008, for instance, the online poker company became the headline sponsor for the PGA EuroPro Tour Qualifying School. In the past two years, the company has done quite well for itself by reviving its online poker room, launching more live online poker offering and fostering stronger connections with its growing player database.

“We are excited to come on board with the Euro ProTour for the forthcoming season and further strengthen our relationship with Matchroom Sport,” Partypoker managing director, Tom Waters said. “The tour hosts some of the most exciting events across Europe, and we look forward to supporting Matchroom in their quest to unearth the next generation of golfing stars.”

With the PGA EuroPro Tour sponsorship, PartyPoker hopes to leverage the great reputation that has been created – the tour is essentially a proving ground for upcoming golfers. Billed as the “leading development tour” in Europe, the PGA EuroPro is known for graduating its most successful players onto the Challenge Tour which is just one step shy of being the continents biggest and most lucrative golf tour. The top stop is occupied by the European Tour.

“Our developmental golf tour has become one of the leading circuits for young professionals looking to become tomorrow’s superstars of the sport. I am really looking forward to building on an already strong relationship with PartyPoker and can’t wait to see the benefits it will bring to all involved in the PGA EuroPro Tour,” Barry Hearn, the Tour Chairman commented.

More to It Than Meets the Eye

Partypoker plans to set itself apart from other operators by expanding its presence across all the corners of the globe and putting out massive guarantees. However, in Europe, one of the biggest challenges for poker operators is the advertising restrictions that are imposed on gambling-related activities. By partnering with the PGA EuroPro Tour, PartyPoker will have a golden opportunity to advertise itself to millions of fans.

US Legalizes Esports Betting, Approves Unikrn’s License

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Last Tuesday, Unikrn, a gaming operator known for its blockchain-infused esports betting projects, had its esports betting license approved by the Isle of Man, a move that has officially laid the groundwork for legal and regulated sports betting in the United States. Esports fans both within the United States and some other international markets will soon be able to bet on various esports events including tournaments and championship matches.

Unikrn, which is the world’s first betting platform to be built entirely on blockchain technology has had plans to merge real-money betting on competitive video gaming with crypto and blockchain technologies. The approval of its licenses by the Isle of Man is a huge step forward for the company and which has already moved fast to deploy its crypto esports gambling services in 20 different regions – the company began rolling out its online gaming products to the 20 countries as soon as the Isle of Man approved its license.

It plans to follow through by offering esports betting to European countries, South Korean and other Asian nations as well as parts of Latin America. In the US, the company will be offering several types of esports gambling services save for spectator betting which is yet to be legalized.

With the new products, the platform’s users in the countries where sports betting is legal will have the opportunity to bet on major esports competitions like the forthcoming League of Legends World Championship. Unlike traditional sportsbooks, Unikrn will be taking a unique approach that will be based on skill-based bets – this will allow the gamers to bet on their game performance for in games such as Player Unknown: Battlegrounds and Fortnite.

High Hopes Esports Betting Market

The approval of Unikrn esports betting license is certainly going to pave way for more companies to venture into the space – in fact, a number of esports betting platforms already exist but they have yet to be officially recognized by the Isle of Man. Still, the market is expected to significantly grow further from here on out. According to Rahul Sood, Unikrn’s CEO, the esports betting market could be worth $9 billion by 2020 if it’s nurtured properly.

“There is finally a legitimate, regulated operator in the space that has a pretty comprehensive offering,” Sood commented on his company’s approved esports betting license. “It’s huge.”

For the esports betting venture, Unikrn will also be featuring technology from Bittrex, a US-based asset trading platform. Bittrex’s technology will assist Unikrn in establishing a system for seamless crypto accessibility for the users of the gaming platform. The company’s in-house cryptocurrency, UnikoinGold (UKG) will be the primary token for esports spectator wagering in the 20 regions where Unikrn his set to begin operations.

Midterm Elections Could Affect Online Poker Legislation

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The midterm elections in various states in the US are usually not considered to be very important (even though they are) but this year, you might need to pay some extra attention especially if you are an online casino gamer or poker player. During the forthcoming midterm elections, there are a couple of states that will be holding elections and referendums which are anticipated to have some profound impacts on online poker, sports wagering and online gaming in general. While the elections could mean a step forward for online poker legislation in certain states, there is a huge possibility that it could also mean a step in the opposite direction for some other states.

Nevada

Legal and regulated online poker went live in Nevada in 2013 under the state’s current governor, Brian Sandoval, who also happens to be a proponent of online gambling. Now, for this year’s midterm elections, the problem is that the term limits prevent the governor from running for re-election and in his place will the current Nevada Attorney General Adam Laxalt who won the Republican party primary in June. Unlike Governor Sandoval, Adam Laxalt has not been shy to express his rather bold stance against online gambling – he has even gone as far as publicly criticizing the state’s online poker legislation.

Furthermore, in addition to adding his name to the list of state attorney generals who are supporting the Restoration of America’s Wire Act, Laxalt has also recently signed a letter addressed to the Trump Administration asking the Department of Justice to reverse the legal opinion from 2011 that states that the Wire Act is only applicable to sports betting.

Obviously, if Adam Laxalty wins the midterm elections next month, legal and regulated online poker in the state of Nevada might meet its untimely end.

California

Hopefully, during the November midterm elections, the long-awaited online poker legislation will be taken off the shelf. Lawmakers in the state have come quite close to legalizing and regulating online poker but everything fell apart after a disagreement about the “suitable poker operator” came up. Since then, they have spent close to two years debating whether various gaming entities including the casinos, horse racing facilities, or gaming sites should be given the opportunity to offer online poker.

Florida

In Florida’s case, one of the biggest issues is Amendment 3, which also happens to be one of the biggest ballot issues in any state this time around. Otherwise known as “The Voter Control of Gambling in Florida”, Amendment 3, if passed, would require that before any new form of casino gaming is set up in the state, it would have to pass a vote with at least a 60 percent approval rate.

Revolutionary BTC Sidechain, The Liquid Network, Goes Live

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For a while now there has been a lot of buzz regarding such developments as the Lightning Network, which scales up the bitcoin network so that it can keep up with digital currencies like Ripple and Tron. The Lightning Network, for instance, has shown a lot of promise and is expected to take off on a large scale pretty soon. In the meantime, Blockstream, a company that majors in blockchain development projects, is hell-bent on completely revolutionizing how the world’s oldest and most popular digital currency works.

On October 10, the company officially announced the launch of the Liquid Network, a project they are touting as an inter-exchange settlement network that connects digital currency exchanges, financial institutions, market makers and brokers from all around the globe. This comes in a little less than a year after Blockstream introduced the concept of the Lightning Network during the Blockchain Association of Canada’s Government Forum that was held in Ottawa.

What It Does and How It Does It

Well, unlike the famous Lightning Network which has also been all the buzz lately, the Liquid Network is a secondary layer that was built as a sidechain of bitcoin – the sidechain essentially qualifies to be referred to as an extension of the bitcoin blockchain. However, it is not exclusive to the bitcoin blockchain. This sidechain allows its users to swap coins from the main blockchain to its sidechain in a 1-to-1 parity, something that is usually aimed at tapping in certain features that the main network may be lacking.

In the case of the Liquid Network, the feature that is tapped in is incredibly fast transactions with the main focus being on enhancing the exchange of large sums between the crypto exchanges, market makers and the financers. As it turns out, the members of the Liquid Network will be the ones providing the liquidity because they will be the people responsible for keeping a balance of L-BTC which they would then allow their users to trade.

“The members of Liquid secure the network by running functionary servers that run the Liquid blockchain as well as maintaining the two-way peg to the Bitcoin blockchain,” Blockstream’s CSO Samson Mow said in a recent interview. “When someone wants to move BTC to the Liquid sidechain, they send it to a unique peg-in address. When someone is ready to move their money back to the Bitcoin blockchain, they can make a peg-out transaction that will tell the [Liquid members] to send Bitcoin to the desired address.”

What Next?

At launch, the Liquid Network project had a total of 23 partners who are now the so-called Liquid members. Blockstream hopes to expand Liquid’s membership moving forward and at the same time build out its services to include such things as Issued Assets (IA) which would include tokenized commodities, tokens, and even Ethereum.

In the meantime, the company will be focusing on extending the features of the Lightning Network to specifically ease its introduction and adoption in the global cryptocurrency community.

NASCAR Plans to Implement Sports Betting Regulations in 2019

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According to Steve Phelps, the NASCAR president, the series plans to implement guidelines in the rulebook on sports wagering next year. This announcement came in the past weekend when Dover International Speedway opened its on-site sports betting kiosk during the past weekend thus becoming the only track that allowed sports gambling on its property.

As it stands, NASCAR even allows it drivers and team members to bet on the race, something that certainly represents an interesting dynamic but is likely to change in one way or the other when the sports betting regulations are implemented in 2019.

“I think for 2019, we’ll have some rules that we’ll put in place,” Phelps commented on Sunday at Dover. “For right now, there’ll be betting here. They have a kiosk here, you can bet inside. We’ll study and see how that goes, but I think we’ll have some rules in place for sponsorship, for what betting looks like, and continue to see what happens in the landscape overall.”

The on-site sports betting kiosk at Dover International Speedway opened at 9 a.m. with a modest line NASCAR and gambling fans forming to find out more about the new offering and to hopefully cash in – most of the questions that were raised were about the NASCAR prop bets. More specifically, many of the bettors wanted to know it the stage cautions count toward the total number of cautions. As it turns, they do not – only the crash and debris cautions will count.

So far, everything seems to have picked up quite well for NASCAR, the state of Delaware as well as sports betting and horse racing at Dover. In fact, according to the general manager and senior director horse racing and sports betting at Dover Downs, John Hensley, more prop bets were offered in the last weekend when compared to what had been recorded for the average race.

New Hope for NASCAR?

NASCAR is hoping to rejuvenate the sport in the wake of the May U.S. Supreme Court ruling that abolished PASPA and lifted the federal ban on sports betting. Promoters at a number of NASCAR tracks across the country are hopeful that with legal sports wagering, NASCAR will be able to keep its declining fan base by giving them more reason to stick around. The idea is also to attract new fans who will then be given a reason to invest both emotionally and financially (through such things as bets) in the budding careers of future NASCAR stars such as Bubba Wallace, Ryan Blaney, and Austin Dillon.

Chris Powell, the president of Las Vegas Motor Speedway, considers legal betting on NASCAR activities as “manna from heaven,”:

“It very well could be a shot in the arm to NASCAR, and other forms of motorsports, because it could add a new element of excitement – whether it’s wagering on who’s going to win, or who’ll win the first segment, or a one-on-one bet, just like in golf, where it might be Bubba Watson against Tiger Woods.”

As of now, a number of betting options, auto racing included, are being offered at Dover Downs and Dover International Speedway with the betting lines being supplied by renowned bookmaker William Hill.

Highlights of the Congressional Sports Betting Hearing

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Last Thursday, the US House Subcommittee on Crime, Terrorism, Homeland Security, and Investigation held the Post-PASPA: An Examination of Sports Betting in America hearing which was meant to ascertain whether there is the need for federal sports betting oversight since the existing regulations only require the oversight of individual states.

The hearing which is the very first of its kind since the US Supreme Court lifted the federal ban on sports betting, a move that gave the states the go-ahead to offer legal and regulated sports betting. Some of the attendees included:

Jocelyn Moore, Executive Vice President, Communications and Public Affairs of the NFL
Les Bernal, National Director of Stop Predatory Gambling
Sara Slane, Senior Vice President of Public Affairs of the American Gaming Association
Jon Bruning, Counselor for Coalition to Stop Online Gambling
Becky Harris, Chair of the Nevada Gaming Control Board

As expected from most hearings involving lawmakers, the hearing turned out to be a fiasco especially because the lawmakers who were members of the committee were not well-informed about the sports betting industry or the gambling industry as a whole.

The NFL’s testimony, which was given by Jocelyn Moore, was one of the biggest highlights of the hearing particularly because it largely comprised of things that most of us have probably heard before. The league’s biggest concerns, as it turns out, was the integrity of the game and age restrictions, both of which are already being handled in one way or the other by the governments in the state where sports betting has been legalized.

While the awful Internet Gambling Act (2006) and the Wire Act (1961) were not very significant to the proceeding despite the fact the internet and mobile are important in sports betting regulation, the NFL and the Coalition to Stop Online Gambling made sure that everything revolved that topic.

Fortunately, the AGA’s Sara Slane stepped in to give the other side of the story saying:

“States and tribes have proven to be effective gaming regulators in the 26 years since Congress enacted PASPA. As Congress has refrained from regulating lotteries, slot machines, table games, and other gambling products, it should similarly refrain from engaging on sports wagering barring an identifiable problem that warrants federal attention.”

What Is Next?

Even though there is a consensus that a section of the members of the committee left thinking that there was something that had to be done at the federal level in as far as sports betting is concerned, the Thursday hearing was a purely informational one and there is no plan to create a federal framework for sports betting.

Moreover, there are currently no more meetings being planned so the NFL’s bet would probably be to follow in the footsteps of the NHL and NBA that are already inking partnership deals with sports betting and casino operators.

Congressional Hearing on Sports Betting Set for Sept. 27

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A Congressional hearing on legal sports betting in the United States has been scheduled for next week in the US capital despite massive pushback from gaming operators who believe that there is no need for a federal framework to be put in place.

The hearing which is scheduled for September 27 will involve discussion about the proliferation of legal sports betting across the country following the recent repeal of PASPA by the United States Supreme Court. Spearheading this move is the US House Committee on Crime, Terrorism, Homeland Security and Investigation which aims to investigate the implication of the landmark Supreme Court ruling and what it would mean for the integrity of sporting activities “as well as what sorts of improper or illicit activities could arise”.

“My subcommittee will look at the implications of this SCOTUS ruling and talk about what it means for the integrity of sports as well as what sorts of improper or illicit activities could arise,” said subcommittee chairman Rep. Jim Sensenbrenner (R-Wis.). “Ultimately, we want to determine whether or not a basic federal framework is necessary to guide states’ new gambling policies.”

Support from the Leagues

As is turns out, the September 27 hearing was scheduled about a month after Chuck Schumer, the Senate Minority Leader, released some sports betting guidelines with the support of major US professional sports leagues.

“As legalized sports betting spreads across the states, there is a need for consistent, nationwide integrity standards to safeguard the sports millions of fans love,” the NBA, PGA Tour, and Major League Baseball said in a joint statement. “We strongly support the legislative framework outlined by Senator Schumer and we encourage Congress to adopt it.”

The leagues have often expressed concerns about how fast the states have fast-tracked sports betting regulation since the Supreme Court paved the way for legalized nationwide sports betting and therefore the introduction of a federal framework would mean that the league’s lobbyist will not have to argue out their cases with each and every state.

American Gaming Association (AGA) to Testify

The AGA’s senior vice president, Sara Slane is reportedly also set to give the association’s perspective on why states and the sovereign tribal nations are best positioned to regulate and oversee legal sports betting market. It is no secret the AGA has been a strong supporter of the abolishment of PASPA pointing out that is “an essential first step to shutting down illegal sports betting”

“Bringing sports betting activity into a transparent legal market, under state and tribal regulatory oversight, empowers law enforcement to tackle illegal gambling, provides essential consumer protection and better ensures bet and game integrity. It will also create new American jobs and generate additional local, state and federal tax revenue,” reads a statement from the AGA.

LeoVegas Ventures into Esports Betting with Pixel.bet

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Mobile casino specialist LeoVegas, through its wholly-owned investment company LeoVentures Ltd., has recently made its debut into the esports betting market. This move was officiated last Thursday when the Stockholm-listed LeoVegas announced that its LeoVenture’s arm had purchased a 51 percent stake in the Malta-based esports betting platform Pixel.bet for a whopping €1.5m payable through issued shares. The acquisition deal is expected to close in in the current quarter of the year through a new share issue.

The gambling industry has been rather laid back when it comes to esports betting, only making tentative forays into the space but this is beginning to change thanks to the explosive growth of esports in terms of attendance, viewership, sponsorships, and media coverage. These developments have pushed more gambling operators or at least consider the possibility.

“Esports is an international and fast-growing area that engages millions of viewers and players every month. With this investment in Pixel.bet we as a Group will gain a unique insight into a new and fast-growing segment,” commented Gustaf Hagman, the LeoVegas’ Group CEO and co-founder of LeoVegas Mobile Gaming Group.

This is a huge step forward for esports betting and even though Pixel.bet will initially not have a significant effect on the LeoVegas Group’s revenue or financial standing, the acquisition is expected to pay off decently in the long run.

“In Pixel.bet we have found a passionate team of entrepreneurs who come from the esports community,” Robin Ramm-Ericson, Managing Director of LeoVentures and co-founder of LeoVegas Mobile Gaming Group, said. “With its strong technology and mobile-first gaming experience, Pixel.bet is a perfect match for the LeoVegas Mobile Gaming Group. Together we will drive development for the absolute premier experience in esports betting.”

The Pixel Holding Group has confirmed via its Pixel.bet entity that it is now ready to embark on a new phase of operations that will primarily be about “gearing up for a broader launch of its business”. Sweden and the Nordics are reportedly the initial focus markets for the company though it is still eying further international growth.

“We love esports. And we love betting. We want to create value for enthusiasts and add something truly extra to our community. Pixel.bet is, for example, the first to offer log-in with mobile BankID and instant withdrawals. In LeoVentures we have now found a unique partner and investor that understands and shares our passion,” stated Eirik Kristiansen, CEO of Pixel.bet.

NHS Asks Premier League Teams to Tackle Problem Gambling

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According to Simon Stevens, the chief executive of the NHS (National Health Service), Premier League football clubs and the foreign bookmakers that sponsor them are failing at their duty to help protect problem gamblers. Speaking at a conference in Manchester, Mr. Stevens called out the overseas betting companies for their failure to make the required donations to an industry charity that was formed to help in tackling gambling addiction.

“There is an increasing link between problem gambling and stress, depression and other mental health problems. Doctors report that two-thirds of problem gamblers get worse without help, and the NHS does offer specialist treatment,” Simon Stevens said. “But reports that foreign gambling companies are failing to play their part in co-funding help for addicts are deeply concerning. Taxpayers and the NHS should not be left to pick up the pieces. The health of the nation is everyone’s responsibility.”

He further described compulsive gambling as one of the “new threat” that the NHS has to deal with waring that the implications could be very serious especially since the already overstretched NHS has had to “pick up the pieces” from gambling-related mental health issues.

“One of the things, if we’re serious about prevention, that we need to do – we need to be getting on to the Premier League and asking them to ensure that those foreign gambling firms are playing their part,” he added.

Worrying Numbers

According to the UK Gambling Commission, the UK has about 430,000 problem gamblers, a number that is likely to grow even further if nothing is done. In fact, the NHS has already moved to open its first mental clinic aimed specifically at problem gamblers but this is a just a drop in the ocean when compared to what really needs to be done.

“This is at the same time as the voluntary contribution from the gambling industry has not been responded to by eight overseas firms who sponsor Premier League clubs, so we need to get onto the Premier League to make sure they contribute.”

The dire need for interventions has been recognized and echoed by a number of organizations including GambleAware which has openly welcomed the NHS chief’s component.

“With nearly half the clubs in the Premier League and over two-thirds of the Championship league sponsored by gambling companies, we are seriously concerned the relationship between sport and gambling has reached a tipping point. There is a real risk gambling advertising and sponsorships are normalizing gambling for children. We welcome the call from NHS England for gambling companies, wherever they are based, to contribute more to treating problem gambling,” a spokesperson from GambleAware said. “We would like to see all clubs, leagues, and broadcasters who profit from gambling work with us to help fund treatment for this hidden addiction.”

Japanese Regulators Ramp Up Scrutiny of Crypto Exchanges

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For quite some time now, Japan has been at the forefront of the cryptocurrency industry thanks to the innovators and forward-thinking stakeholders residing in the country who have quickly adopted the technology. Even though most Japanese citizens are all for the crypto revolution, the regulatory bodies in the country are taking a more cautious stance in a bid to protect the citizens from scams or hacks.

On that note, the country’s top financial regulator, the Financial Services Agency (FSA), has reportedly introduced new screening requirement for cryptocurrency exchanges that are seeking approval to operate within Japanese borders. As reported by the Japan Times, the agency has “tightened its registration screening for cryptocurrency exchanges to see whether they are properly conducting risk management.”

As such, FSA’s focus extends beyond the registrant’s financial health and system safety measures to more explicit criteria such as the crypto exchanges’ links to antisocial groups and their decision-making process. The Japan Times further revealed that the agency will now have about 400 screening questions which is about four times the number they would ask in the past.

“It [FSA] now obligates applicants to submit minutes of board meetings so it can check whether enough discussions have been held about measures to sustain the company’s financial health and ensure the security of its computer system,” the sources told the Japan Times. “The upgraded screening process also regularly reviews the composition of an applicant company’s shareholders, while examining if an internal system is in place to check for links to antisocial groups.”

The FSA’s decree that the exchanges submit board meeting minutes is not only meant to ensure security but also confirm that the executive members of the company are proactively and legitimately involved in the various exchanges’ decision-making processes. In addition to this, the screening process will involve a regular review of the primary shareholders so as to “examine if an internal system is in place to check for links to antisocial groups.”

A Drawback?

Even though this will go a long way in filtering out scams and shady business, analysts are worried that the new regulatory move might end up hampering the development of the cryptocurrency exchanges in the country. However, there are close to zero other ways of handling the situation at the moment.

One of the factors that incentivized the FSA’s move was an inspection of Coincheck, a crypto exchange that was hacked in January, and 23 others. A report that was recently revealed by the agency cited “sloppy internal controls” and “lack of board meetings.” These findings were not very reassuring especially considering the fact that about 160 cryptocurrency exchanges are now interested in entering the Japanese market.