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New South Wales to adopt a 10 per cent tax regime on online gambling

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The Australian state of New South Wales has decided to enforce a 10 per cent tax rate on gross gaming revenue (GGR) on online betting. This is somewhat more than the 8 per cent tax in Victoria. The government has faced the pressure of from local gambling group Tabcorp who lobbied for 15 per cent point-of-consumption tax on online betting – like the tax regime that was introduced in South Australia, Western Australia and Queensland. But the New South Wales government has withstood the pressure to introduce a more balanced tax regime of its own.

All the operators will get a tax-free threshold of A$1 million a year.

State Treasurer Dominic Perrottet revealed Tuesday that the tax will be formalised on all online sports bets within the state when the state budget is finalised next week, and will commence from January 1 next year. Observers say that the Treasurer will shortly announce that a substantial portion of the p.o.c. tax harvest is earmarked for the state racing, thoroughbreds, harness and greyhounds industry.

NSW hopes to raise about A$100 million from the tax. The government was lobbied on the tax proposal by online companies, who argue that the 15 per cent rate is based on the British p.o.c. tax model which does not take into account the fact that the betting operators in Australia already pay GST, payroll tax and product fees…and TAB has an exclusivity arrangement in relation to on-the-ground betting.

 “The introduction of a point of consumption tax is an important step to ensure that we are levelling the playing field given the wagering tax paid by on-site (retail) operators,” Perrottet said in a statement.

“Following an extensive consultation period with stakeholders, this decision will resolve the disconnect between the jurisdiction where gambling activity occurs and where it is taxed. We also want to make sure that the racing industry is no worse off under these changes, which is why we have taken steps to ensure that they receive fair compensation and that existing parity arrangements are unchanged.”

“We think 10 percent strikes the right balance and that online corporate bookmakers should contribute their fair share,” Perrottet said. “However, a 15 per cent additional tax on top of GST and race field fees would be an excessive burden on players in the market. We will review our 10 percent rate in 18 months and also keep a close watch on how other states progress with their POCT.”

Source: reviewed-casinos.com


Source: European Gaming Media and Events

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NSoft brings iGaming Future to february London event

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The sports betting technology provider NSoft will be showcasing its comprehensive suite of products including a full Sportsbook platform, Virtual games and the latest innovations in AI solutions at ICE London 2019.

NSoft’s Self-Managed Pre Match application is fully integrated into Seven Platform and gives the betting operators full autonomy of sports events creation, odds management and risk management. Except for already supported option of importing Betradar Unified Odds Feed, the customer has the ability to manually create any sport, tournament, market and event, as well as to resolve the markets.

The upcoming ICE London 2019 is the only B2B gaming event that truly brings together the international online and offline gaming sectors. During this event, held from February 5 to February 7, 2019, NSoft’s focus shall be on promotion of new products and comprehensive business solutions.

NSoft team is performing the latest product polishing before presenting it to the industry’s leading stakeholders. This year we shall be hosting you on our stand with impressive design and demo zones.

Don’t miss out on the chance to find out more about NSoft’s products. Please meet us at Stand S1-260. Book a meeting with our team or contact sales@nsoft.com.

 


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: NSoft brings iGaming Future to february London event

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PointsBet enters the legal New Jersey betting market

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PointsBet has launched its online sports betting platform in New Jersey, had become the ninth operator to enter the legal New Jersey sports betting market. PointsBetting is essentially a high-risk form of spread-betting that rewards players with more money.

The company explained how PointsBetting works: “If a user bets $10 on the over, and the total ends 10 points over, that nets users $100. Stop-loss settings are able to be set by a bettor if they wish to limit their win and loss position. Users will still be able to make fixed odds wagers, which give a simple win-or-lose scenario.”

New Jersey residents can access PointsBet in web browsers via PointsBet.com or by downloading the PointsBet mobile app for Android or iOS.

Johnny Aitken, PointsBet US CEO said: “We’re extremely excited to bring PointsBet’s premium and game-changing sportsbook and signature betting options to the US.

“By offering some of the world’s sharpest betting offers and prices, we have the back of all sports bettors, no matter how sophisticated they are, and we’re serious about offering a one-of-a-kind VIP betting experience.”

PointsBet is also partnered with Tioga Downs Casino in New York and will launch sports betting operations in New York if the state moves to legalise sports betting.

 


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: PointsBet enters the legal New Jersey betting market

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FDJ aims digital transformation to fuel its development

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FDJ aims digital transformation to fuel its developmentReading Time: 2 minutes

 

FDJ Group announced €15.8 bn in player stakes in 2018. FDJ distributed €10.7 bn to players, a return rate of nearly 68%, an increase close to 1 point over 2017.

Stéphane Pallez, Chairman and Chief Executive Officer of FDJ Group said “The continued growth in player stakes reflects the good execution of our FDJ 2020 strategy around areas such as innovation and digital, enhancing the appeal of our games and distribution channels. 2018 has been characterised by numerous successes, notably Mission Patrimoine games, illustrating FDJ’s redistribution model. These results underpin our ambition to anticipate changes in the gaming and entertainment sector to increase the Group’s leadership with richer and innovative gaming experiences”.

 The FDJ 2020 strategic plan aims at accelerating the Group’s digital transformation to fuel its development. In 2018, the group got benefited from increase in digitalisation of all games. This success confirms our strategic goal of reaching 20% by 2020. This digital growth was driven by online gaming as well as electronic player stakes at points of sale.

ParionsSport sports betting posted strong gains in player stakes. FDJ is one of the Top 10 sports betting operators worldwide. Player stakes recorded during the World cup reached €333 m, an increase of +75% over the 2014 event, mostly attributable to the French team’s performance. The overall trend remained strong, with +8% growth in non-World Cup player stakes.

ParionsSport also signed major four-year partnerships with four leading French football clubs (Olympique de Marseille, Olympique Lyonnais, AS Monaco, and FC Nantes), and launched the “Parions Club” challenge with each of them, giving the top punters in each club a VIP treatment in stadiums or at points of sale, in addition to their winnings.

Player stakes in lottery, instant lottery and draw-based games, grew 1.1% to €12,770 m. Player stakes on instant lottery games (scratch-card games in point of sale and digital) continued to grow, +3.2% to €7694 m.

Digitalisation drives growth in all lottery games, whether instant lottery or draw-based games. On-line lottery games were up +12% thanks to the steady increase in new players, with close to 1.9 million players at the end of 2018, and very frequent marketing events in the online gaming portfolio, with a launch, a relaunch, or a modification every week.

In 2018, FDJ stopped charging rent for point of sale equipment and started paying commission on promotional and free coupons. This year, a new commission structure has been introduced, with different rates across the various product lines and price ranges. In this context, net commissions earned by FDJ retailers were €785 m in 2018, up 5.7% on 2017.

After internalising its sales force and setting up its own logistics, FDJ has completed its business transformation and has direct control of its network.

The Group has continued to make substantial investments in points of sale, specifically in technology and equipment.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: FDJ aims digital transformation to fuel its development

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