The world's largest betting exchange, Betfair have already declared that it would go after their rivals Ladbrokes and William Hill as the two moved its business to Gibraltar to lessen its tax burden.
Betfair was has been up for more than a decade and was founded by a one – time professional gambler Andrew Black and former JP Morgan. Derivatives trader Ed Wray stated that they're looking forward to save 20 million pounds per year as a result of which will see its wagering exchange operate under Gibraltar license beginning Wednesday.
Betfair is presently paying 15 percent tax on gross profit from wagering, but this will drop to 1 percent after they move in Gibraltar as the tax rate for betting exchange operations there is 1% turnover with the gaming tax capped at GPB425,000 annually. For online casino sites, the gaming tax is at 1% of the gross product with similar maximum cap as fixed – odds betting.
CEO David Yu said in a conference call with reporters that Betfair was also finding for ways to avoid the so – called “double taxation” which it is presently facing under UK tax regulations. He also commented that “As a global, technology-led betting operator, our new operational base in Ireland and the change to our licensing structure provides us with increased flexibility. It allocates to be more efficient by providing first class technical equipments on their locations, to serve our customers better and to compete on the same basis as the majority of operators in the UK online betting market.”
The company intends to go on employing on nearly 1200 people at its offices in the UK but declared to move of key technical equipment and 120 staff to new offices in Dublin and Gibraltar as part of a broader reorganizing. New offices will operate in parallel to the existing ones but will be combined in 2012.
The third quarter results of Betfair showed a 20.5 % drop in poker revenues summing to GBP5.2 million, sports betting revenues up by 8.6% amounting to GBP56.6 millions, games up to 8.2 percent to GBP14.3 million and a total revenue results of GBP77.0 million portraying an increase of 6.2 percent last year on the same period.
Giving his comment on the third quarter performance and present trading, Betfair's CEO David Yu said that “We are pleased with the growth we achieved in the third quarter, especially from football and Games. Lower cost per acquisition resulted from its marketing efficiency for this quarter whilst also showing strong growth in active customer numbers.. We have made a good start to Q4. Improvements followed by a succesful migration of new technology infrastructure to their new data center in Ireland, we are rolling out a planned series of major improvements to our Sports betting product which will help to drive revenue growth in Q4 and into FY12. We remain confident that we will deliver an outcome for the current financial year within the range of market expectations.”
* This article is summarized from the articles featuring the said move of BetFair to Gibraltar which can be found at the official website of realbusiness.co.uk, calvinayre.com and onlinecasinosuite.com
Celebrate Women's Day in an Online Casino
On the very fist day of March, 2011, Intercasino launched a new promotion. It is a slot tournament which is appropriately called Maximum Resolutions. However, this promotion has been used by Intercasino to celebrate the International Women's Day. The first International Women's Day was celebrated way back 1911 in Germany. Today it is being celebrated in more than 70 countries as a sign of appreciation for the contribution of women in the society as well as to acknowledge their achievements.
Maximum Revolutions promotions will take fourteen days beginning from March 1 to March 14. Players will earn points for deposits that make into their Intercasino accounts and for the amounts they bet on the featured online slots games during the said period.
Rankings on a leader board of players will be based on the points they gathered. A prize poll worth $11,500 will be shared by the top 50 players on the leader board. $3,000, $2,000 and 1,000 will be won be the top 3 players. At the bottom of the prize pool, players that ranked from 41 to 50 will receive $30 each.
Intercasino players have to choose to the Maximum Revolutions promotion be inscribing the code WOMAN before making their initial deposit. For their every $25 deposit during the promotional period, they will earn 500 points. In addition, the sum of the amount wagered on the featured games will be added to their total points. In this promotion, the prizes that will be won will be treated as casino credits and credited into the accounts of players. In order to withdraw the casino credits and any winnings, the top three winners will need to bet their credits one time and the players ranked 4th to 50th will need to bet their credit 16 times.
Most games designated for wagering in the Maximum Revolutions promotion suit in the women's day theme. Cleo Queen of Egypt is the first of the slot games. Intercasino has something to say about the slot game, "Think feminism is a 20th century invention? Ancient Egypt's first lady Cleopatra seduced Caesar. Will her Ptolemaic charms work on you in our 9 line Crazy Jackpots Slot?".
Taking up women's chores and letting them go out and enjoy themselves is the best way to celebrate Women's day. This is precisely what the next features slot game seems to be saying. The online slot is Dad's day In and the symbols comprise a hassled Dad, baby crying, milk bottle and saucepan boiling over. High Fashion is not an online slot, it is a scratch card game. It has been included as a featured game due to the fact that it gives an extraordinary online shopping experience for women.
* This article is an excerpt and was based from the article featuring the Women's Day promotion launched by the InterCasino which can be found at www.casinoadvisor.com (http://www.casinoadvisor.com/intercasino-womens-day-promo-news-item.html).
Maximum Revolutions promotions will take fourteen days beginning from March 1 to March 14. Players will earn points for deposits that make into their Intercasino accounts and for the amounts they bet on the featured online slots games during the said period.
Rankings on a leader board of players will be based on the points they gathered. A prize poll worth $11,500 will be shared by the top 50 players on the leader board. $3,000, $2,000 and 1,000 will be won be the top 3 players. At the bottom of the prize pool, players that ranked from 41 to 50 will receive $30 each.
Intercasino players have to choose to the Maximum Revolutions promotion be inscribing the code WOMAN before making their initial deposit. For their every $25 deposit during the promotional period, they will earn 500 points. In addition, the sum of the amount wagered on the featured games will be added to their total points. In this promotion, the prizes that will be won will be treated as casino credits and credited into the accounts of players. In order to withdraw the casino credits and any winnings, the top three winners will need to bet their credits one time and the players ranked 4th to 50th will need to bet their credit 16 times.
Most games designated for wagering in the Maximum Revolutions promotion suit in the women's day theme. Cleo Queen of Egypt is the first of the slot games. Intercasino has something to say about the slot game, "Think feminism is a 20th century invention? Ancient Egypt's first lady Cleopatra seduced Caesar. Will her Ptolemaic charms work on you in our 9 line Crazy Jackpots Slot?".
Taking up women's chores and letting them go out and enjoy themselves is the best way to celebrate Women's day. This is precisely what the next features slot game seems to be saying. The online slot is Dad's day In and the symbols comprise a hassled Dad, baby crying, milk bottle and saucepan boiling over. High Fashion is not an online slot, it is a scratch card game. It has been included as a featured game due to the fact that it gives an extraordinary online shopping experience for women.
* This article is an excerpt and was based from the article featuring the Women's Day promotion launched by the InterCasino which can be found at www.casinoadvisor.com (http://www.casinoadvisor.com/intercasino-womens-day-promo-news-item.html).
Atlantic Lottery Corp Prepare for Online Casino Gambling
* This article is an excerpt from the article about the Atlantic lottery Corp. which is posted at http://www.recentpoker.com/news/Atlantic-Lottery-Corporation-0518.html
New Brunswick considers joining BC and Quebec in the online gambling sector. Although, some of the small Canadian Maritime provinces using the Atlantic Lottery Corporation are not in favor of getting into online casino gambling,apparently, New Brunswick is taking a more considered approach.
A manager of the ALC told a committee on Crown Corporation this week that if the New Brunswick government approves the expansion of online casino operations, the Atlantic City Lottery Corporation is ready anytime.
The vital regulatory changes have already been drafted that would permit the company to expand further into online gambling, participating provinces like British Columbia and Quebec that have already gone online with gambling offerings, the manager revealed.
The committee was told that, "Technically, it is a very easy decision.. We have some quality control testing.. so our due diligence would take a few months, so it is up to the shareholder on the timing because all of the other pieces are in place." The Crown committee has been told by a Department of Finance official from New Brunswick that the provincial government has been "...consistent in that we have had ongoing discussions with ALC but there is no decision made either way on the matter."
The ALC has built a nice relationship with its equal organization in BC and Quebec – then British Columbia Lottery Corporation and Loto – Quebec. Among the provinces making up the shareholder in the ALC, so far Nova Scotia and Prince Edward Island have not showed any plans to enter the online gambling sector. With those that are for the idea of receiving the essential technical support from the ALC, Individually, provinces are free to make decisions.
New Brunswick considers joining BC and Quebec in the online gambling sector. Although, some of the small Canadian Maritime provinces using the Atlantic Lottery Corporation are not in favor of getting into online casino gambling,apparently, New Brunswick is taking a more considered approach.
A manager of the ALC told a committee on Crown Corporation this week that if the New Brunswick government approves the expansion of online casino operations, the Atlantic City Lottery Corporation is ready anytime.
The vital regulatory changes have already been drafted that would permit the company to expand further into online gambling, participating provinces like British Columbia and Quebec that have already gone online with gambling offerings, the manager revealed.
The committee was told that, "Technically, it is a very easy decision.. We have some quality control testing.. so our due diligence would take a few months, so it is up to the shareholder on the timing because all of the other pieces are in place." The Crown committee has been told by a Department of Finance official from New Brunswick that the provincial government has been "...consistent in that we have had ongoing discussions with ALC but there is no decision made either way on the matter."
The ALC has built a nice relationship with its equal organization in BC and Quebec – then British Columbia Lottery Corporation and Loto – Quebec. Among the provinces making up the shareholder in the ALC, so far Nova Scotia and Prince Edward Island have not showed any plans to enter the online gambling sector. With those that are for the idea of receiving the essential technical support from the ALC, Individually, provinces are free to make decisions.
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