Bookmaker News of the Week
By Bookmakers Review20 June 2018
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world cup 2018

Brits are expected to wager £500 million this week as the eagerly anticipated Royal Ascot horse racing festival coincides with the World Cup. Betway said

Bitcoin bookmaker Cloudbet has announced it will accept bets of up to 100BTC on the World Cup final. That works out at around €600,000, and it now believes it is offering the highest betting limits of any betting site in the world. Punters can wager up to 20BTC on all other World Cup games, and the limit rises fivefold for the final in Moscow on July 15. “Bitcoin betting is really coming of age at the 2018 World Cup, so we wanted to do something special. Limits of 100BTC or 700BCH seemed like a sexy number for the final, while 20BTC for the group and knockout phase is hardly chicken feed,” said Mirio Mella, Cloudbet’s head of acquisition. “With limits of 100BTC or 700BCH for the final, and 20BTC or 140BCH for the group and knockout hhase this could be the first World Cup in history where the highest betting limits are only available to those with Bitcoin.” Check out the bookmaker’s website for more on its World Cup offering.

Betting site 32Red was hit with a £2 million fine for failing to protect a vulnerable punter and carry out proper money laundering checks. The bookmaker allowed a customer to deposit £758,000 between 2014 and 2017, and did not act when he told staff he had spent too much and was chasing losses. It gave him free bonuses and allowed him to keep betting, overlooking 22 incidents that suggested the customer had a gambling problem. The Gambling Commission was called in to investigate and it came down hard on the bookmaker. Gambling Commission executive director Richard Watson said: “Instead of checking on the welfare of a customer displaying problem gambling behaviour, 32Red encouraged the customer to gamble more – this is the exact opposite of what they are supposed to be doing. Operators must take action when they spot signs of problem gambling and should be carefully reviewing all the customers they are having a high level of contact with. Protecting consumers from gambling-related harm is a priority for us and where we see operators failing in their responsibility to keep their customers safe we will take tough action.” Read more at the BBC.

Over in Italy, online sports betting grew 6.4% year-on-year to €518 million in May, while betting revenue rose 40.4% to €40.8 million. Bet365 is the market leader, with a share of 17.6%. The country’s gaming news outlet, Amigeg, has more details on this.

Canadian firm Stars Group is considering a public offering to finance its takeover of Sky Bet. The offering contemplates a treasury offering of 15 million common shares by the Company and a secondary offering of 6 million common shares by certain shareholders. The Stars Group intends to use the net proceeds from the treasury offering, together with debt financing and cash on hand to fund the previously announced acquisition of Sky Bet. Check out PR Newswire for the full details.