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Study finds gambling contributes $260 Billion to US Economy

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A recent Oxford Economics report has found that gambling contributes $261.1 billion into the US economy in 2017. In that amount, $40.8 billion is in the form of local, state and federal taxes.

According to the report, the industry created 1.8 million jobs and $74 billion was disbursed as benefits, wages, and gratuity. Just to add perspective to the figures, the gambling tax revenue is sufficient to pay salaries of over 690 000 new school teachers.

The job creation by the gambling industry is about 1 million more than that in the previous year.

This was attributed to the increasing availability and popularity of legalised online real money gaming, especially in states such as Delaware, Nevada, New Jersey, and Pennsylvania.

Gaming machines billed as being primarily responsible for this year’s 15.7 per cent increased slot revenue Q2 results are at the newly opened MGM Springfield, Massachusetts, and Hard Rock and Ocean Resort, Atlantic City. According to Eilers and Krejcik Gaming’s Todd Eilers, the increased interest in reel-based games was not confined to the US. Canada’s revenues for the same games grew by the same figure in the same period.

 

Source: GamingPost

Source: Latest News at European Gaming Media

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Breaking News: Dutch Senate votes to legalize online gambling

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The Netherlands Senate voted today in favor of the country’s long-awaited online gaming legislation, which was approved by the House of Representatives back in 2014.

The new regulatory regime will allow operators to secure online sports betting and casino gaming licenses to serve Dutch consumers, subject to secondary legislation that is yet to be submitted for European Commission approval.

Today, the Dutch Senate voted in favor of legislation to legalize internet-based gambling, clearing the way for foreign and Dutch firms to apply for licenses.

On Monday, the Financieele Dagblad said some 300 companies have expressed interest in running a gambling website in the Netherlands and about 50 are expected to make a formal application for a license when they are up for grabs next year. Tuesday’s vote comes two years after the lower house voted in favor of allowing third parties to legally offer online gambling.

Holland Casino is the Netherlands’ only state-regulated gambling establishment but foreign firms widely flout the ban and continue to target Dutch punters.

The two Christian parties in the ruling coalition voted against the legislation. They claim allowing more companies to offer online betting will lead to more problems with addiction.

Source: DutchNews.nl

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Breaking News: Dutch Senate votes to legalize online gambling

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BetConstruct attained a partnership with SA Gaming

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BetConstruct announces a new strategic partnership with an online entertainment platform provider in Asia – SA Gaming.

As a result of the agreement, SA Gaming’s various slots and live casino solutions will be integrated into BetConstruct’s platform. Around 30 slots such as The Guard, World Cup Fever, Red Dragon, Saint of Mahjong, Indiana’s Quest, Dragon Tiger, and others currently fulfill their gaming catalog.

“This is an important partnership for us, as a result of which our gaming portfolio will be enhanced with more Asian themed slots and live casino games, ” says BetConstruct regional director Lusine Khudaverdyan.

 

Apart from the slots, SA Gaming has a wide portfolio of live casino games famous in Asia. Following the partnership, we already support such games as Baccarat, Roulette, Sic Bo, Fan Tan and Speed Baccarat from our new Asian 3rd party provider. Together with SA Gaming we believe to provide premium gaming solutions for all our partner operators.

 

About BetConstruct

BetConstruct is an award-winning developer and provider of online and land-based gaming solutions with development, sales, and service centers around the globe.

BetConstruct’s innovative and proven offerings include an extensive range of products and services, including Sportsbook, Sports Data Solutions, Retail Solutions, RNG & Live Dealer Casino, VR Casino, Poker, Skill Games, Fantasy Sports, Social Platform and more. The latest addition is the industry-first complete management infrastructure, SpringBME (Business Management Environment).

All partners benefit from the BetConstruct Spring platform with its powerful back-office tools and all-inclusive services that empower operators’ growth and help contain their costs. From stand-alone set up to turn-key and white label solutions, BetConstruct offers its partners unfettered opportunity to succeed.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: BetConstruct attained a partnership with SA Gaming

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Bangladesh bans online gambling websites

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Bangladesh Telecommunication Regulatory Commission (BTRC) has asked all the internet gateway providers and Telecom department to run an internet safety solution programme to block online gambling websites. BTRC is believed to have received an instruction to effect the same from the country’s government.

The telecom regulator has sent the order to block the websites so that these websites will not be accessible in Bangladesh again.

“It might take few more hours to block all the sites completely as blocking any site is so technical,” said Md Emdadul Hoque, general secretary of Internet Service Provider Association of Bangladesh (ISPAB).

A top official of the BTRC said they have often found complaints from different sides about online gambling and that needs to block for the sake of safe internet.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Bangladesh bans online gambling websites

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