Industry news

[Fella]

Big implications for the poker world if they merge. Bwin own the ongame platform which is huge.

Hopefully Party will keep the brands separate!

[gonobetgo]

The current branding does seem fairly different - hopefully will help prevent a merge.

[Nintendo2k]

Listed UK gaming company 888 is “highly likely” to enter into merger discussions with interested parties in the next six months as the egaming market continues to consolidate following last week’s Bwin/PartyGaming tie-up, its CEO has exclusively revealed to eGR.

Gigi Levy, announcing the company’s second quarter results this morning, said there was a “very high likelihood” a merger would take place and that he saw “the advantages of scale” in the light of the industry’s two largest gaming companies consolidating. Levy said he did not yet know which company or companies 888 Holdings would potentially merge with, if it decided to do so, but did not rule out a deal with listed rival Ladbrokes.

Full story here:
888 chief predicts merger talks | eGaming Review

[Nintendo2k]

Financial spread betting business IG Group has recruited accountants PricewaterhouseCoopers to find a buyer for its sports betting arm Extrabet, media reports at the weekend have suggested.

Extrabet accounts for an estimated 2% of IG Group’s overall revenues, however the business values the division at around £20m, the Sunday Times reported.

IG Group to sell Extrabet | eGaming Review

[BallHandler]

BetOnSports Founder Pleads Guilty, To Forfeit $43.7 Million (BETonSPORTS PLC)

What I find incredible is that he is going to Prison for doing what a lot of sites are still doing, ie Accepting US wagers.

Also the figures are quite something, 1 Million registered customers! Employing 1,700 people! I mean that is hell of a lot and makes you realise what a blow to the Industry losing the US market was and how much it will explode back into life when (if?) Obama pulls his finger out and legalises it.

I read somewhere that it only helps poker and casino games.. not sports gambling.. is that thru?

[Nintendo2k]

As reported in the chatbox earlier,

INCORRECT betting shows at Kempton on Monday left pictures and data providerTurfTV facing questions about how an error which bookmakers described as “expensive” and “extraordinary” came to pass.

TurfTV provided an opening betting show of 11-1 on the Henry Cecil-trained filly Wafeira, who won the 4.20, and followed it up with shows of 8-1, 7-1, 6-1, 9-2 and a SP of 4-1.

But they subsequently admitted that the correct opening show should have been 11-2, followed by 6-1, 9-2 and 4-1.

Read more:
Wrong betting shows for Kempton winner - Horse Racing News | Racing Post

Incidentally we also had a laugh at that Cecil guy in the chatbox. Odd.

[etherz]

So THAT explains all the stonking arbs I found on the 4:20 yesterday ;-)

[9822aracs]

Paddy Power doing allright then...........

BBC News - Paddy Power posts 54% rise in profits

Paddy Power posts 54% rise in profits

Paddy Power has reported a significant rise in profits Irish bookmaker Paddy Power has reported a 54% rise in half year profits to £43m.

The firm said it had been boosted by a six-fold rise in profits from its UK betting shop estate after it opened 27 new premises in the period to 30 June.

It also confirmed it had made £15m from losing punters through the 2010 World Cup football tournament.

Paddy Power said profits for the current year were expected to exceed current market forecasts.

Its chief executive Patrick Kennedy said: "As ever, our financial performance is subject to the glorious unpredictability of sport.

"Overall though, we finished up a little ahead of our normal expectations and certainly a good deal better than where we were last year."

The firm's profits were hit last year by unfavourable horse racing results and a clean sweep by Irish teams of rugby's Grand Slam, Heineken Cup and Magners League titles.

Paddy Power customers bet £70.5m on the football World Cup in South Africa.

Spain's victory generated a profitable return for bookmakers after the European champions' opening defeat to Switzerland deterred some potential backers, and they also benefited from patriotic bets on the England team.

About 43% of the Paddy Power group's operating profit is generated from UK customers, with 39% from Irish customers and 16% from punters in Australia.

[AllGone]

Higher bonuses here we come

[Nintendo2k]

Lightning struck twice in successive days for one lucky Sky Bet customer as he netted himself more that £500,000 with two football accumulator bets.

The unnamed customer from Hampshire landed £250,000 on Thursday night as his £450 five-fold football bet on BATE (3/1), Hapoel Tel Aviv (7/4), Debrecen (7/2), NK Maribor (2/1) and Aktobe (11/4) came in.

And remarkably less than 24 hours later the same punter repeated the feat as his £600 five-fold consisting of Djurgardens (2/1), MTK Budapest (6/4), Kaiserslautern (13/2), Southend (10/3) and FC Erzgebirge (8/13) came in returning another £250,000.

Holy smokes! Apparently he won £90.000 earlier this month too after a treble hit.

PUNTER HITS SKY BET FOR £500K: Betting Zone - Racing Betting, Football Betting, Golf Betting, Sports Betting, Cheeky Punt