Charters Released to Promote French Online Gambling
June 19, 2009
In light of recent announcements that the French government will regulate online gambling to a limited extent in 2010, online media group “Geste”, has released two charters calling for responsible gaming practices to be implemented throughout the industry. Based on results of a study conducted earlier this year, the charters are designed to provide European online gambling operators with an accepted standard to follow, thereby ensuring that the online gambling industry in France is viewed as a socially responsible and legitimate industry in the years to come.
Analysts and regulators will be keeping a close eye on the industry to determine its compliance with regulations and its efficiency in preventing problem and underage gambling.
No country knows that these issues do come up with regulation better than the UK, which passed the UK Gambling Act of 2005 and has since seen an increase in problem gambling and gambling debt. However, studies have shown that this wasn’t because of the internet but rather because the Act also called for an increase in land-based betting destinations, which have proven to be the culprit for gambling related negative impacts since 2005. Overall, the UK has faired well in spite of these setbacks, and has made swift progress in identifying and providing treatment for problem gamblers.
France however, will only open up the online sector of the industry and with this a more accurate determinant on the effects of regulated online wagering will be established.
While many are still opposed to regulations of the online gambling industry in France, many others like Geste, are being proactive in operating standards and measures which ensure that the online sector remains a favourable environment for both consumers and businesses to operate in.
So it would seem that if online casino operators and internet sports betting empires are looking to expand successfully into the French market, they would be prudent to adopt and implement best practice charters similar to those suggested by Geste.
Leonardo DiCaprio to Star in Online Casino Film
June 19, 2009
While complete details including the title are still a closely guarded secret, according to Variety and the Hollywood Reporter, Leonardo DiCaprio is set to star in an upcoming Paramount film based on the world of online casinos run out of Costa Rica.
The screenplay is written by Brian Koppelman and David Levien, the authors of the box office hit ”Ocean’s Thirteen,” and cult film ”Rounders,” which in a similar vein, starred Edward Norton and Matt Damon as high-stakes players in the underground poker scene.
DiCaprio will also have a hand in the production of the film with his company Apian Way employing the expertise of Jennifer Davisson Killoran as producer.
It is yet to be seen which brush this team will choose to paint the online casino industry with, but one thing is for sure, it will be interesting to see nonetheless.
BetStopper - blocking underage gamblers
June 5, 2009
There is much concern over minors attempting to gamble at online casinos, and while the casinos have stringent measures in place to prevent this, including Identity checks and verifications, The Nova Scotia Gambling Corporation has taken it one step further and designed content blocking software which may aid parents and caregivers in preventing children from accessing gambling related sites in the first place.
The new program, BetStopper can be installed on home computers to prevent children from accessing gambling related websites and casinos, giving them peace of mind when their children are online.
The software has been stringently tested in order to ensure the effectiveness of the program, however as with similar programs of this nature, it cannot be expected to be 100% effective all of the time and parents and caregivers will still need to monitor their children’s online activities.
A number of Online Casinos from across the globe have supported the launch of this program which is set to go a long way to eliminating problem gambling in future generations.
Casino Sued over Millions spent in Minutes
May 20, 2009
Melbourne’s Crown Casino is being sued by compulsive Australian gambler Harry Kakavas after he lost more than 2 million Australian dollars (approximately $1.5million US) on their card tables in just 43 minutes.
The 42 year old property baron claims that the casino intentionally facilitated his gambling in spite of being aware of his addiction and ban from neighbouring state Sydney’s casinos. Kakavas alleges that the group flew him to their casino in a private jet where he was given gift boxes of 50,000 dollars in “lucky gambling money” on more than 14 occasions to encourage him to gamble.
Evidence presented has shown that in 16 months between 2005 and 2006, Kakavas turned over 1.5 billion dollars at the casino and was authorised to place bets of 300,000 dollars per hand. His total losses are allegedly totalled at 30 million dollars and as such he is suing the Crown Casino group for 20.5 million.
Crown’s defence team reject the claim that Kakavas’s gambling addiction was exploited and states that he was banned from the casino in August 2006 after losing the now infamous 2 million dollars in just 43 minutes at the baccarat tables.
The case is currently pending, but if Crown is found to have breached the Casino Control Act by allowing Kakavas to gamble despite knowledge of his addiction and ban from casino properties in Sydney, the group could also be liable to pay as much as 700 million dollars in illegally-paid winnings to the Victorian state government.
Calculating Progressives With Different Currencies In The Pot
April 28, 2009
Players play in different currencies…so how are Progressive Jackpots calculated?
This may be a question you’ve asked for some time and we have the answer for you!
As an online player you will probably select an account in the currency of your country when you sign up an account at an online casino. This will make things a lot simpler because you usually “think” in the currency in which you live making it a lot easier to gauge how much you are winning or losing and you won’t have to pay conversion fees on winnings credited to your account. This part is pretty straight forward.
The question however, comes in as to how casinos who operate in nearly every currency, each with very different values, can offer the same jackpot for example $/€/£50,000, regardless of that fact. In the current market, one could not be blamed for getting the impression that it is more favourable for the casino if a dollar player wins the jackpot due to its weaker value when compared to the Pound or Euro exchange rates.
Ultimately however, this becomes irrelevant for the casino. Some jackpots like Microgaming’s Cash Splash are won often; in fact on average this one goes every 2 to 3 days. With that in mind, let’s suppose 60% of the players playing this progressive play in dollars, and 40% in Euros. Both player groups on average, over the long-term, will win the jackpot at a ratio of 60/40. Meaning that those playing in dollars would win more often and in these times, the casino would actually reap large profits due to the Euro pay-in’s but dollar payouts. If only those playing in Euros won, the casino would incur 45% losses in their profit figures (calculated on 1.45 Dollars to the Euro rates) at that time, but would have gained a great deal during the Euro players losses which would compensate accordingly. In conclusion, over the long term and with many players playing it all balances out, if it didn’t, casinos would implement single currencies within player accounts.
Be Aware - cashout limits may apply
April 1, 2009
When playing at an online casino there is always the chance that it just might be your lucky day and you end up winning BIG! We can all go into a pleasant day dream as to what we will do with that big lump sum when it hits our bank accounts, but receiving your winnings all at once does not always happen and that is something any player should be aware of to avoid disappointment.
At present the majority of Playtech and RTG (Real Time Gaming) powered properties have maximum cashout limits ranging from $2,000 to $5,000 per week. Examples of these are Casino King and City Club Casino, which are really great places to play, but do carry limits of $10,000 per month. So if you happen to hit a jackpot or enjoy any substantial wins at places like these, you will only be able to cash out according to the set weekly or monthly limits and this means many weeks or months of waiting to receive your full balance on large amounts of money and jackpots. Now this doesn’t bother many people and it might not bother you, but please keep it in mind when playing at casinos.
For high rollers, it is preferable to select establishments like powered by Microgaming, like 32Red, which impose no cashout limits at all.
In order to ascertain if a casino carries cashout limits or not , take some time and read the terms and conditions posted on their websites or contact their customer support teams to enquire about this if you can’t find the information online. A few minutes spent doing at the beginning can help you to avoid weeks of unexpected waiting in future.
Cryptologic and Paramount Partnership
March 20, 2009
CryptoLogic Limited is as usual, on top of its game in endeavouring to bring casino players even more exciting feature slots. The group recently signed a long term deal with Paramount Digital Entertainment that will see famous movie characters from over 20 film titles like Forrest Gump, Braveheart , Ferris Bueller and Beverly Hills Cop appearing in its games towards the end of they year.
In a recent interview, group CEO Brian Hadfield conveyed the groups excitement regarding their newfound relationship with Paramount, elaborating that it would enhance the groups strategic position and contribute to ensuring the brands continued success.
Paramount Vice President for Interactive Licensing, Luke Letizia, is equally excited at the prospect of working with Cryptologic on the ongoing projects and stated that the group was confident that their new partner would develop games that are on par with the quality and caliber of Paramount Pictures properties.
With projects like this in the works, and a track record of happy, loyal players at its various properties, one can be sure that Cryptologic is well on its way to becoming one of the leading online entertainment brands. So be sure to look out for the new titles at the end of 2009.
New Titan Slot Release
February 21, 2009
Diamond Valley Pro is one of the newest Titan Casino releases. This 5-reel, 20-Line Slot game will have Players hunting for diamonds and winning free spins and multipliers in the Bonus round.
Playing is easy. Simply select the desired payline, click on the Bet One button or the line numbers to the left or right of the reels, spin the reels and, if you get a winning symbol combination, you win according to the relevant winning table. Each time you click on the Bet One button, an additional payline is selected. If you select the Bet Max option or line number 5, all paylines will be selected. The Paytable option shows the winning table. You will only win if a combination occurs on an active payline.
It is important to remember that there is a difference between the line bet and the total bet. The line bet shows how much you’re betting on a single payline. The total bet shows how much you’re spending in the currewnt game round. The payouts shown in the paytable are multiplied by the line bet, not by the total bet. If you get winning combinations on more than one payline, the winnings for each payline are combined.
You may also be eligible to play the bonus round. In this round you must collect a specific number of hand symbols on an activated payline. The hand symbols have to lay consecutively, starting from the left most reel.
Play Diamond Valley Pro at Titan Casino now.
Online casinos top land-based venues during economic slow down
February 20, 2009
A recent report released by Ernst & Young indicates that online casinos are faring far better than their land based counterparts during the world economic slow down. The report details the analysis of research conducted across 135,000 individuals from around the world and confirms that gamblers are frequenting brick and mortar casinos less in order to cut costs but are in turn visiting online casinos.
Due to the fact that online casinos are easily accessible via the world wide web, these groups can successfully target vast international markets and offer a variety of language and currency options in order to accommodate players in an environment where they feel comfortable. While land-based venues on the other hand, have long enjoyed their “destination” status offering mammoth resorts, outstanding shows, decadent cuisine and additional entertainment to attract gamblers and their families, during the present recession and tough economic times gamblers are choosing not to travel, and these properties are feeling the effects of the large losses of revenue.
Interestingly, the report notes that in addition to providing solubility to online casino companies themselves, the tax revenue generated from these properties is contributing to keeping some state budgets afloat. Countries, like the UK, who have effective tax regulations in place are already benefitting from this large stream of income as the economy falters.
Casinos in 3D
February 20, 2009
The internet presents a world of endless possibilities, especially when it comes to entertainment and online casinos. Just when you think you’ve seen it all, someone brings out something that takes the industry by storm and that is exactly what is happening with the advent of 3D online casinos.
When it comes to these properties, gone are the days of flat, boring graphics as you explore their lifelike casino lobbies and enjoy the games in a way that you never could before.
In fact, this possibilites presented by 3D platforms are so attractive that even French land-based casino operator Lucien Barriere Hotels and Casinos recently announced that they would be entering the UK online casino market next month with its very own 3D offering. The casino will allow players to create customised virtual characters from a selection of life-like avatars in the site’s Dressing Room before going on to enjoy a night of casino action while chatting to other players as they go.
But what will truly set this property apart from existing offerings is that it will be the first online casino to mirror a real-life casino and will be the online version of the company’s own land based casino, and the games offering will be comprised of exact replicas of those found at its venue in Deauville.
This is sure to spark some fierce competition amidst existing online casino operators and players can expect to see some pretty novel and exciting ideas emerging as the technology just keeps getting better at their favourite places to play.
