Sport is made for betting

The Sportingbet bid for Centrebet looks to be signed and sealed now with Australian courts giving approval that it doesn't breach any anti-competition laws. So Ladbrokes choose not to bid on Australia's first online bookie, letting Sportingbet buy them out, so they can then take them over.... Interesting concept - surely someone's paying too much along the line? Centrebet takeover approved by Australian court Sportingbet’s takeover of Centrebet has edged closer after receiving the approval of the Federal Court of Australia. The news follows last week’s announcement that the takeover had received the backing of Centrebet shareholders. In a statement to the London Stock Exchange this morning, London-listed Sportingbet confirmed that the schemes pertaining to the takeover will “become effective” upon the lodging of relevant court orders to the Australian Securities and Investments Commission tomorrow. The suspension of Centrebet shares will follow, with the Australian co...

Bayer Leverkusen announce a shirt sponsorship deal with solar developer Sunpower , one of several deals with renewable energy firms in German football. Bayern Munich have a deal with Yingli, Hoffenheim have one with Wirsol and I've probably missed one or two more... Meanwhile in England, we have clubs wearing sponsorship logos from 188Bet, 10Bet, 12Bet, 888, 32Red, Bodog, Fun88, Genting Casino, SBOBet, Sportingbet plus other deals with firms like Betfair, Blue Square and others I'm sure I've missed. German legislation re gambling aside, it says a lot about the state of the respective economies and their outlook for the future doesn't it?

Lots going on, but very short of time lately, here's a quick look at what has been going on... Sportingbet are keen to be acquired by Ladbrokes, but the 'Magic Sign' are nervous about SB's activity in Turkey , one of the strongest regions of their business. If Sportingbet are serious about the sale going through, looks like they will have to sell that part of the company. The Betfair share price keeps on tumbling , not even the internal buyback scheme can stop the price sliding, sliding away... The Gold Coast Turf Club is targetting night racing as a way to move themselves up the ladder of Australian racing. Sounds like a positive move, the weather's great up there but when they run their feature Magic Millions Day in January when it is approaching 40C, that's ridiculous. The racecourse does need a serious upgrade to its facilities if they want to become a bigger club, getting into the Friday night rotation of meetings would probably serve them better tha...

A lot to catch up on after my recent time away, here are some of the stories making the news: The Australian Federal Government has promised a review of online gambling and might finally do away with the ridiculous ban on in-play betting online. But then again, they might not... Note the incorrect linking of Serie A matches with match-fixing for betting by the Australian Crime Commission. Full Tilt Poker's licence has been suspended with immediate effect by Alderney regulators. Was it their decision or did the Yanks have a word in their ear? Betfair are searching for a new CEO and analysts admit it is a "potential opportunity for improvement". Financial results for Betfair show profits up but revenue down . Punters are rallying against Betfair's decision to heftily increase the Premium Charge. Check out the Facebook group here. Poland has signed in their draconian gambling legislation banning all firms without a local licence. As a result, some firms, ...

After a few attempted rorts in rugby league and a few plunges based on leaked team information, the major Australian sports, backed by a few clueless politicians and media desperate for a story, have proposed clampdowns on exotic bet types. Now we all hate match-fixing in sport, don't get me wrong there, but invariably these shenanigans are restricted to betting via illegal bookies, where there is no audit trail for investigators to pick up. Legal betting outlets don't drop the ball very often. At the first sign of suspicious betting, alarm bells go off and word spreads like wildfire. The accounts in question are marked forever and the total exposure involved is usually only a few grand - less than they'll get out of the PR value of the ensuing story! Andrew Twaits says tighter controls on online poker is necessary *snipped* Sportingbet Australia chief executive, Michael Sullivan, called yesterday on professional sports under the Coalition of Major Professional and...

Betfair's share price is up 35p this morning, including a recovery from a 20p drop after a climb of 40p in the first two hours of trading, after it fell to a new low of 752p last week. Here's one for you - how would you price up "First to leave their post - David Yu or Sepp Blatter?" The Czech lottery company Sazka has been declared bankrupt by the Prague Municipal Court . Surely there is something seriously wrong here - perhaps they should have spoken to FIFA about to keep a corrupt organisation in operation?? Centrebet shareholders are expected to support the Sportingbet buyout bid afte the Kafataris family and the board put their weight behind it. Spain’s new gaming law has been officially published in the country’s State Gazette and will be enforced subject to European Commission approval. In case you've missed it, the US Department of Justice is going after more than just the biggest US-facing poker rooms , with some sportsbooks in its sights as wel...

News this morning that another company is set to launch a bid for Centrebet, the first Australian bookmaker to bet online back in 1997. It has been mentioned here before that the Kafataris family are keen to cash in, but previous interests from European firms have hit a brick wall - perhaps because of issues with Australian government bans on online poker and casinos. Sportingbet have already conquered those restrictions by having a highly successful Australian operation (after they purchased the previously Vanuatu-based No.1 Betting shop) run independently from the main UK base. Sportingbet CEO Andy McIver has long dismissed poker as a 'fad' so it was hardly a sacrifice on that front. Centrebet run casino and poker operations for anyone based outside of Australia. Sportingbet in talks to buy Australian peer Centrebet May 11 (Reuters) - British online gaming firm Sportingbet is in advanced talks to buy Australia's Centrebet International Ltd for about A$175 million ($1...

Sportingbet have been announced as the naming rights sponsor of the Queen Mother Champion Chase during the Cheltenham Festival. They replace Seasons Holidays, who like most travel companies, will be feeling the pinch from the recession. Why bravo? Unlike several other bookmakers sponsoring at the Festival - Stan James, William Hill and Ladbrokes - the Alderney-based firm pay the full amount of their UK horseracing levy voluntarily. The others pay very little on their online business. A bookmaker with a conscience rather than bloody-minded greed. Makes a pleasant change doesn't it with UK racing prizemoney levels ridiculously low? Other major race sponsors at Cheltenham - Coral and the Tote are fully based in the UK and pay their respective taxes and levy.

Four years after pulling out of a proposed deal because of concerns about US legality, Ladbrokes PLC have confirmed they are in discussions to buy 888 Holdings. It's been a tough few years for 888 who were valued at 240p per share back in 2006, but last week before the announcement were south of 50p (now 56p after peaking around 60p). According to this report though, Sportingbet (who are known to be looking around for merger and acquisition targets after recent talks with Unibet) and Harrah's could be sniffing around as well.... Meanwhile, in other trading news, Goldman Sachs have upgraded their Betfair rating from neutral to buy . Not much conflict of interest there considering they were the investment bank who floated them, and are now probably desperate to save face as the company trades more than £3 below IPO price, and over £5 below the peak during restricted trading.....

Sportingbet Australia are banking on a change to betting in-running laws with this move to develop an IPTV betting platform . Racing provides the lion's share of their business but the big potential for growth is with sports betting. However due to a ludicrous piece of legislation, which is unlikely to be amended during the term of a minority government, you can only bet in-running on a sporting event via a voice call from within Australia. The Queensland govt needs more tax revenue so the easiest way to do that is put more pokies in the casinos . Evil bloody things that should be outlawed but they never will. The politicians hide behind the fact that it's no more for the state, but the fact is these ones will see far higher footfall than hidden away in a suburban pub, equalling more tax revenue and more damage to the moral fabric of Qld society. At least WA continues to resist the urge . The bidding for the UK Tote hots up with a consortium fronted by Martin Broughton lin...

Reports in the Sunday Times suggest the two firms are set for discussions regarding a merger, no doubt to keep in touch with the giant Party Gaming/bwin merger. On the face of it, it makes sense - both are huge organisations with healthy diversity, but their peak regions don't overlap - Unibet are strongest in Scandinavia, Sportingbet are strong in southern Europe and Australia. Sportingbet set for merger talks Sportingbet, the online gambling operator, is examining a merger with Swedish rival Unibet that would create a £600 million group, a newspaper claims. The companies are understood to have held preliminary discussions about combining the businesses, with further talks expected in coming weeks, according to The Sunday Times. There'd be one benefit of this for punters - most people can actually get a decent bet on at Sportingbet, few punters have that 'privilege' at Unibet.

The gambling world often gets criticised for encouraging the vulnerable to waste their money with not much given back to society. Most charitable efforts by the firms aren't reported, and Betfair and Sportingbet are just two of the firms with quite substantial charitable contributions on their books each year. But the biggest donations you ever see from punters usually comes from the media when they hire some 'experts' to make a few bets with the winnings (which are definitely not guaranteed!) going to a nominated charity. There may be others I've missed but there is rarely a co-ordinated charity betting campaign of any substance. Until now..... PuntingAce , a website and forum I write for regularly, have been running a charity challenge for quite a while. They started with a bank of AU$125k two years ago, and are now over AU$55k in profit . And that doesn't include the annual Charity Swim one of the owners does each year to benefit a local school for children w...

The market seems to think that they got off lightly with a $33m settlement, they are up 12.86% already today. Sportingbet agrees $33m US settlement LONDON (MarketWatch) -- U.K. online gambling group Sportingbet (UK:SBT 77.75, +7.75, +11.07%) said Tuesday that it has entered a non-prosecution agreement with the Office of the United States Attorney of the Southern District of New York under which it will pay a total of $33 million. Sportingbet said that under the terms of the agreement, the Southern District of New York will not seek to prosecute the company for activities related to its Internet gambling business with customers in the U.S. from 1998 to 2006. Considering the length of time the companies operated by Sportingbet were in that market, it seems like quite a light penalty in comparison with Party Gaming who agreed a $105m deal in 2009 , although it could be argued that poker was booming at the time, and Sportingbet didn't own all of the companies breaking US law fo...

Sportingbet started the trend by purchasing No1 Betting Shop from Vanuatu and then moving them to Darwin, Paddy Power got into the act by snapping up Sportsbet and IAS, and then Centrebet started preening their feathers in public trying to woo as many prospective buyers as they could. Anecdotal evidence suggests that several other Australian firms are available to buy, as most of the original owners are approaching retirement age. BWin, William Hill, Ladbrokes, 888 and others were mentioned as prospective suitors for Centrebet but it all seems to have gone very quiet lately. BWin have tied up with Party Gaming which should keep them busy plus neither are shy about attracting Australian customers despite laws against online casino and poker operations; William Hill's online division is 29% owned by Playtech, another company with fingers in many bingo, casino and poker pies which reach Australia either organically or by targetted marketing; Ladbrokes are still involved in the bid f...

When a spread betting firm makes a big deal about setting up a fixed-odds sportsbook arm, then wants to get rid of it, chances are it's not making any money. IG Group to sell Extrabet Financial spread betting business IG Group has recruited accountants PricewaterhouseCoopers to find a buyer for its sports betting arm Extrabet, media reports at the weekend have suggested. Extrabet accounts for an estimated 2% of IG Group’s overall revenues, however the business values the division at around £20m, the Sunday Times reported. Analysts have previously questioned whether the business, which suffered a fall in revenue of more than 30% last year, is worth much. IG Group and PwC both declined to comment. I'd have to agree with the last comment. Extrabet's client list is common with the spread side of the business, and one has to wonder how many genuine fixed-odds punters there are, rather than occasional dabblers. Extrabet's sports prices are all powered by the powerfu...

Betfair have hired a Morgan Stanley director as head of strategy as the IPO gets closer. For them, the best thing that can happen this year is a World Cup with all the favourites winning, bookies taking a hiding and Betfair just laughing all the way to the bank. But can they have all the prospectus documents ready in time for a float this year, if they wait that long? This isn't the first float-related hire they've had, they have been making them since 2005 and the media still haven't tired of predicting when it will happen. Just get it over with.... Betfair IPO moves closer with Morgan Stanley director hire Sportingbet are stepping up to the London Stock Exchange (LSE) from the Alternative Index Market (AIM) next month, a move showing they really have graduated to mixing it with the big boys. Their financial reports are quite interesting. Unlike the British retail bookies who were moaning about all the favourites winning and no draws in the early part of the Premier League...

It may not be Bwin after all, as I predicted a few weeks ago, but the news is out in Australia that several different UK suitors are sniffing around the pioneer of online sports betting, Centrebet. Centrebet rockets on takeover talks SHARE investors piled into Centrebet yesterday as three British gaming companies loomed as potential bidders to take over the listed online wagering and gaming company. ... Analysts said Centrebet -- which is 60 per cent owned by the family of its chief executive, Con Kafataris -- was a good fit for foreign companies wanting to get a stake in the Australian market ahead of expected deregulation. British operators Ladbrokes, William Hill and Sportingbet are the reported overseas suitors for Centrebet and some analysts believe the takeover price could reach $2 a share. The Productivity Commission recently recommended a swag of reforms thought to be favourable for growth in online sportsbooks and casinos in Australia. The Australian market is undergoing major...

Could Con Kafataris and family, majority owners of Centrebet, be ready to sell up and get out of the bookmaking business? This report seems to think so: Centrebet keen to join forces BOOKMAKER Centrebet has confirmed it is looking to buy a competitor or be taken over after its surging share price drew a speeding ticket from the stock exchange. The ASX yesterday asked Centrebet to explain a 21 per cent increase in its share price -- from $1.32 at close of trade last Wednesday to a high of $1.60 during trade yesterday. ... Several potential buyers are reported to be circling Centrebet, with controlling shareholders the Kafataris family said to be willing to sell their 60 per cent stake if the price is right. ... Centrebet has reportedly been eyeing some of the industry's smaller players, while global operator Ladbrokes is said have considered making a bid for Centrebet. Centrebet shares closed yesterday up 8.57 per cent at $1.54. Interesting developments. Centrebet can't get a lo...

In Australia, the three main zones for corporate bookmakers are the Northern Territory (home of Centrebet, Sportsbet, Sportingbet, IASBet and numerous others), Tasmania (home of Betfair Aus) and the ACT (home of Sportsalive). When I say home, it's at least where their servers are based and a handful of staff - most have marketing and other departments based in Melbourne or Sydney. These three regions, two territories and Australia's smallest state, have little industry to speak of and need businesses in their region for employment, taxes etc. And they also have no deep-seated allegiance to TABs like the bigger states such as Victoria and New South Wales. Internet bookmakers in NT welcome tax change Tasmania recently threw the cat amongst the pigeons by scrapping the local tax on corporate bookmakers and adopting a $250k annual flat fee, a very attractive prospect for major firms turning over hundreds of millions per year. This was brought on by Betfair's five-year licence b...

Unlike some of their rival bookmakers who have headed offshore to avoid paying tax and levy, Sportingbet have chosen to make a voluntary Levy Board payment for the upkeep of British racing, beginning next year. From the Racing Post: Chief executive Andrew McIver, whose company is sponsoring a £50,000 four-year-old hurdle at Cheltenham on Saturday, said yesterday: "We're delighted to demonstrate our support of the British racing industry by committing to a voluntary payment of the levy, which equates to the statutory payments [ten per cent of gross profits] we would make if we were based in the UK. The figure is expected to be around the £250k mark. Obviously there is something in it for them, wanting to add credibility to their sponsorship of various races and the Racehorse Owners' Association awards night they have agreed to sponsor for three years. Other firms paying a voluntary levy fee include Betfair (assume because they weren't covered in the original legislation...