Online sportsbook, Betway like to be number one in the industry. And so their new honor came as a nice surprise. In fact it was a record fine for Betway of $11.6 million for accepting bets with stolen funds. Next to actually losing their licence, this was the UK's biggest fine for a bookmaker and was part of a settlement for a number of serious compliance failings.
The Balkan State recently charged a Bulgarian gambling czar known as “The Skull” with organizing a crime group, extortion, and attempted bribery. He was charged in absentia, as it appears he fled the country. But just today, 2nd Feb, he was detained in the United Arab Emirates under a European Arrest warrant.
Japanese public prosecutor raided gaming company. It was recently reported that the Tokyo Public Prosecutor’s office conducted a raid on an as yet unidentified gaming company in the city. This was in connection to an ongoing probe into bribery that could have serious implications on the countries efforts to open legalized gambling resorts.
The fugitive PokerStars founder surrendered to US authorities this week. Isai Scheinberg, the founder of the online casino, PokerStars is finally in federal custody after nine years on the lamb. He is charged with bank fraud, money laundering and illegal gambling after being indited by the US Department of Justice.
In 2005, under the Gambling Act, the UK Gambling Commission (UKGC) was born. It's purpose is to regulate commercial gambling in Great Britain. Being sponsored by the Department for Digital, Culture, Media & Sport (DCMS) and it sets out the licensing conditions and codes of practice.
The dispute between Borgata Casino vs Phil Ivey has escalated to a point where Ivey’s WSOP career is a thing of the past. In June, he competed in the $50,000 Poker Players Championship at Rio Las Vegas. Borgata Casino recently seized the winnings from the Championship.
Steady technological advancement has been a great influence on the online gambling sector. In the last two decades, several changes resulted in a better internet gambling experience.