Welcome to News Archive - October 2006

Ukbetting to Be Restructured - October 30, 2006
It’s makeover time at the UKBetting Internet gambling group where a change of name and an AIM reclassification are on the way
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US Retrenchments Could Include Antigua And Gibraltar - October 28, 2006
Israeli software developer and 888.com subsidiary Random Logic to dismiss 29 employees from its Israel-based R&D centre. Other cuts are expected in Antigua and Gibraltar. It is all due to new anti-online gambling legislation in the US.
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The Sequel to Ontario's Attempts to Ban Online Gambling Advertising - October 26, 2006
“If we try to open up a sportsbook or online casino or poker room, the police will be here immediately. We support the legislation because online gambling is illegal. We have laws, but they are not being enforced. So either change the laws or allow us to compete.”
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Cryptologic's Newest Customer Is a Top Scandinavian Gaming Site - October 25, 2006
Cryptologic, the Toronto-based online gambling software developer has signed up Betsafe, the top Scandinavian online poker site in a three year deal which will bring a comprehensive online poker package to Betsafe players later this year.
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Swedish Gambling Group Clarifies Its Position - October 24, 2006
If the anti-gambling bill is passed, it will not have any considerable effect on the company's income. The Betsson Board previously decided that all shares within the business area of Net Entertainment will be distributed to the shareholders.
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Fantasy Play - Paving The Way - October 21, 2006
Right before lawmakers left Washington to campaign, the NFL was struggling for a way to overcome opposition to approving the anti-online gambling bill. The league decided to try and tack the bill onto final defense legislation that couldn’t be amended.
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Playtech Affiliate Program Stops Handling US Traffic - October 19, 2006
Following the new US law which is now awaiting signature by the president, companies operating inside the United States are making changes in their operations to remain within the law
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E-payment processor expecting heavy losses - October 18, 2006
Many announcements of business cut-backs are expected to follow the passing of a new law in the US which outlaws online gambling and outlaws the transfer of monies to online gaming sites
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260 Strong Starting Field Challenged For Yale Graduate - October 16, 2006
The 22 year old Ivy League graduate had to overcome a starting field of 260 players to claim victory. His previous best placing in a tournament was second in the World Poker Tour Foxwoods Poker Classic Championship event in April.
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$10 Million Australian and New Zealand Operation Launched - October 14, 2006
Almost one million bets are placed every week through the Betfair.com.au website. “In six weeks we've had 100 percent up-time ... and we're now processing more bets today than transactions on the Australian stock exchange,” Betfair revealed
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We Tried To Work With US Says Antiguan Minister - October 13, 2006
“I am shocked and dismayed at Congressional actions in approving the Unlawful Internet Gambling Enforcement Act of 2006,” says the Antiguan minister of finance, Dr. Errol Cort on his return to Antigua
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E-Cash Processor Highlights 270 Day Regulatory Period - October 11, 2006
Moving quickly to allay fears, the Isle of Man-based e-cash processor Neteller issued a calming message to its members on Sunday, pointing out that a period of up to 9 months has been allowed for the US federal banking entities to prescribe regulations
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How Things Can Change - Website Blockade To Regulatory Regime - October 9, 2006
Poker News reported this week on an article claiming that Italy has apparently made a radical about-turn in its approach to online gambling.  Now the Italian authorities are going from website blockades to a UK style regulatory and taxation regime
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CEO points to carve-outs for horseracing, state lotteries and fantasy sports - October 6, 2006
Mitch Garber, chief executive officer of PartyGaming considered the implications of the U.S. funding ban on online gambling. “We are disappointed that the popularity and skill of poker in particular has not been specifically protected.”
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US Law Does Not Eliminate Possibility of U.S.-Based Casinos Opening Online Sites - AGA - October 5, 2006
“The major American land casino companies have not been discouraged from online ambitions by the recent moves to curb online gambling by US players.” This is the rapidly forming opinion among those in the gambling industry.
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Cash Reserve - Millions; Pre-Tax Profits - Up 65% - October 2, 2006
According to financial figures just out, the unrivaled online betting exchange, Betfair, continued to power its way to bigger returns for investors in the year ended April 2006
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