Category Archives: Bet gambling

Bet gambling

U.S. Treasury warns casinos on illegal sports betting | Reuters

This poses distinct money laundering risks for casinos,” FinCEN said in the letter.

The U.S. (Reporting by Brett Wolf of the Compliance Compelete service of Thomson Reuters Accelus, Editing by Randall Mikkelsen and David Gregorio)

ST. The report urged governments to correct what it called a vulnerability of sport betting to organized crime.

Sports gambling is legal in only four U.S.

In a statement responding to FinCEN’s letter on Friday, AGA President and Chief Executive Officer Geoff Freeman said the group “welcomes continued guidance from FinCEN.” He added that “members are committed to robust anti-money laundering measures” and that they “invest significant resources to tailor risk-based compliance programs for every corner of the casino, including sports books.”

“While casinos routinely look for suspicious bets at sports books and have worked with law enforcement to identify illegal activity, in some cases leading to criminal convictions, no such oversight exists for the illegal sports betting market,” he said.

“In these cases, the intermediaries rarely voluntarily disclose to the casino that a transaction is being conducted on behalf of a third party, thereby disguising the third party’s role in the transaction and obscuring the source of funds used to place the bet. casino industry. casinos must take steps to combat illegal sports gambling, the Treasury Department has told an industry group in a letter that came just weeks before the Super Bowl, one of the biggest betting events of the year. The AGA, citing the Thomson Reuters article, had asked FinCEN about its plans to issue guidance.

Runners have been known to loiter at casinos, keeping numerous mobile phones and tablets near them to receive orders from illegal gambling rings.

The letter with guidance for casinos from Treasury’s Financial Crimes Enforcement Network (FinCEN) came in response to a Dec. National Football League’s Super Bowl on Feb. 1 yields one of the busiest sports book weekends of the year.

FinCEN noted that prior to the news of its planned guidance, it had been “planning on communicating to the casino industry directly with respect to a particular concern in this regard.”

“Increases in sports betting conducted on behalf of third parties are facilitating criminal activity and posing a money laundering risk to the U.S financial system,” the Treasury said in a letter made public on Friday.

The letter reminds casinos that the Bank Secrecy Act requires them to ask gamblers whether their bets are for themselves, and to report any wagers for third parties as suspicious activity. LOUIS U.S.

Regulators and law enforcement authorities are concerned by intelligence suggesting that criminals are making bets with legal sports book operations, using intermediaries, or “runners,” to place bets, the Treasury bureau said.

The FinCEN letter was addressed to the president of the American Gaming Association (AGA), the trade group for the U.S. 24. The letter was dated Dec. states including Nevada, home of Las Vegas.

Freeman said the risk of money laundering “is far greater in the vast, unregulated, illegal sports betting market than in the highly regulated, legal gaming industry. However, illegal sports betting operations around the world, including online outfits, sometimes offset bets they receive by placing casino wagers, law enforcement sources told Thomson Reuters. The letter also reminds casinos that they must take a risk-based approach to compliance, focusing on gaming that presents the greatest money laundering threat.. 22 Thomson Reuters article, which said the department was likely to press casinos to take a greater role in fighting illegal sport book activity.

The global International Centre for Sport Security reported last year that 80 percent of global sport betting is illegally transacted, and therefore invisible to authorities. It said $140 billion is laundered annually through sport betting

Research and Markets: Research Report – Global Online Gambling & Betting Market 2014

As a result companies get a precise and unbiased impression of the

market situation.

. In the largest Latin American market, Brazil, gambling and betting is

forbidden except for horse racing. The first

regulated online gambling website in Kenya was launched in 2013. Total online gambling revenue in Italy

recently reached a high number in hundreds of millions of Euros, with

poker constituting the largest segment.

- Bwin.Party

- The authors provide secondary market research: By using various

sources of information they ensure maximum objectivity for all obtained

data. For example, a quarter of poker

players chose to bet on unregulated networks.

Online gambling and betting is spreading in the Asia-Pacific region.

The authors observe: while land-based lottery and casinos still dominate

the gambling scene, online real-money gambling and betting are growing

rapidly.

- These market reports inform top managers about recent market trends

and assist with strategic company decisions

Europe has been a leader in adopting regulation regarding online

gambling, but as the activity spreads, new measures are being enacted.

- The author’s international employees research and filter all sources

and translate relevant information into English. The global online gambling market has a current value

estimated at a medium double digit number in billions of Euros, with

growth expected between +7 and 10% annually in the next few years.

For more information visit http://www.researchandmarkets.com/research/pwjr2j/global_online

Regional variations in legislation and acceptance of online gambling and

betting

- Paddy Power

In North America, online gambling was legalized in three US states by

early 2014, with online gambling revenues surging to millions in the

first months of legal operation.

- 888 Holdings

Research and Markets is the world’s leading source for international

market research reports and market data. Progress in online betting regulation in Germany is

expected in 2014, as several operators have applied for the first online

sports betting licenses.

- Ladbrokes

The regulatory landscape on online gambling and betting is varied. The

majority of Western European countries have some laws in place to

channel online gambling and betting. Mobile gambling is expected to grow at double-digit

rates and to reach over 40% of the total online gambling market by 2018,

as the number of mobile gambling users increases by a hundred million.

In France, online gambling and betting has been legal since 2010, but

many gamblers turn to illegal sites. In North America and major Asian

countries online real-money games are yet awaiting progress in

regulation. We provide you with the latest

data on international and regional markets, key industries, the top

companies, new products and the latest trends.

Global Online Gambling and Betting Market 2014 depicts the latest trends

and developments in the field. Among the findings of the reports

researchers is that the online gambling and betting segment is

increasing, enhanced by the spread of smartphones and tablet computers. In

Australia, which leads the world in terms of per person gambling, online

sports betting and gambling has been growing by over 30% annually, while

the growth of the total gambling market does not exceed 5%.

- The analyses, statistical reports and forecasts are only based on

reliable sources including national and international statistical

offices, industry and trade associations, business reports, business and

company databases, journals, company registries and news portals.

Trends in online gambling and betting.

About Research and Markets

Companies Mentioned

- Betfair Group

The leading online gambling and betting companies worldwide include

PokerStars, Bwin.Party, William Hill Online, each of which annually

generate online revenues of over EUR 0.5 billion.

- William Hill Online

The spread of online betting and gambling is forcing governments to act

to regulate. In the USA, online gambling is legal only in three states

and in many Asian countries gambling and betting is allowed only in

casino resorts.

- PokerStars

Online gambling is only starting to emerge in Africa. However, offshore gambling websites

are popular among Brazilian gamblers, who spend several hundreds of EUR

million annually on offshore sports betting sites.

DUBLIN–(BUSINESS WIRE)–Research and Markets (http://www.researchandmarkets.com/research/pwjr2j/global_online)

has announced the addition of the “Global

Online Gambling & Betting Market 2014″ report to their

offering.

Product Information:

The major trends in online gambling and betting globally are mobile and

social gambling. This ensures that the

content of the original studies is correctly interpreted.

Regulation of online gambling and betting in Germany and Russia lag some

of their neighbours. In

South Africa, online gambling awaits legalization in 2014.

Italy has one of the most advanced regulatory arrangements regarding

online gambling in Europe

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