Short review of latest news in gambling world
We’ve prepared for you a short review of the most interesting news in gambling industry and sports betting in the past week.
Experts: Brexit will hurt 888Holdings the most
Famous gambling holding 888 will suffer the biggest losses due to Great Britain exiting EU. That is the opinion of experts.
According to preliminary counts, 888 (including its highly popular poker site) income outside Great Britain exceeds 18% and that’s significant. Brexit will also get a hit on William Hill. 18% of the income of the company comes from European countries and experts are certain that Britain leaving EU will negatively show on the cost of sportsbook stocks. Such companies as Ladbrokes, Rank Group, Paddy Power Betfair should not be afraid. Ladbrokes gets 13% of their income from non-British territories. Rank Group – less than 6%. Paddy Power Betfair are aimed for the markets of Great Britain and Australia so the companies won’t suffer from British exit from EU.
Let us recall that residents of the Foggy Albion voted for Brexit in June 23, 2016.
Oxford launched their own lottery
As British mass media report, city authorities of Oxford made an anonymous decision on creating their own online lottery operator.
It is reported that City Council of Oxford filed the necessary documents for receiving the license to Gambling Commission of Great Britain to launch their own lottery.
As British press informs, profit from the work of lottery operator will go to charity funds of Oxford.
Susan Brown, City council deputy from Oxford claimed that according to counting of experts, the annual profit of selling the lottery tickets sales is going to be about 60 thousand pounds and the whole amount will go to charity organizations. It is expected that cost of lottery tickets will be 1 pound.
Susan Brown noticed that this lottery won’t cause gambling addicts as winning will be small.
Federal Trade Commission of the USA is against merger of FanDuel and DraftKings
American Federal Trade Commission will request for prohibition of merger of two biggest local fantasy sports operators FanDuel and DraftKings. The commission filed a complaint to Federal District court that, as they believe merger will negatively reflect on the quality of service of fantasy sports operators.
Tad Lipsky, acting as director bureau of competition in US claims that operators now in stiff competition as they have to offer the best products so there are big prize pools and a great range of competitions. If FanDuel and DraftKings merge, the American market will have an operator with the biggest possible share, which will be able to dictate terms.
After the merger, market share of FanDuel and DraftKings will become 90%. So the state regulator is sure the deal needs to be blocked
FA ends its cooperation with Ladbrokes
Press service of English Football Association announce breaking the contract with popular English bookmaker Ladbrokes.
Let us recall that sportsbook Ladbrokes signed partnership agreement with English Football Association last year, but lately the main football organization in England experienced pressure from community because of the scandal with ex-member of National Team Joey Barton.
Joey Barton previously received 18-months ban because of betting on football matches he made in 2006 to 2016.
This incident made FA management gather Council, which made decision to end cooperation with Ladbrokes sportsbook and for some time hold on the opportunities to sign sponsorship agreements with betting operators.
