Best Bingo Offers: Top 5 – Aug 4-10, 2018

Top 5: Best Bingo Offers

Here’s our weekly roundup of last week’s Top 5: Best Bingo Offers sent by email.

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UK Gambling Commission Slaps Stride Gaming with Hefty Fines

The United Kingdom Gambling Commission has slapped the Stride Online gaming operator with a hefty penalty. It has done this by issuing a notice to that effect. The notice is still pending and has not yet come to effect for the time being.

Stride GamingBefore arriving at this crucial decision, the gambling commission carried out an extensive review of the activities of the said gaming operator. It mainly focused on how the gaming operator carried out its activities.

It alleges that the said operator has not been diligent and faithful in all its dealings. This is why, in the opinion of the gambling commission, the operator deserved a hefty financial fine. This gaming operator has a vast interest in the field of online gaming and gambling.

These include but are certainly not limited to Regal Wins Casino, Magical Vegas, Spin and Win, Kitty Bingo, and Jack Casino. On its part, the operator has advised its market base and subsidiaries that it is presently considering the various approaches to take in response to the latest developments.

Some of the steps the operator is currently contemplating are lodging a formal complaint to the gambling operator as regards the proposed financial penalty. It also considers appealing the decision of the gambling operator and the accompanying penalties in a competent court of law. It even considers asking that the size of the penalty be reduced.

The markets have responded adversely to these developments. Stride gaming has lost a whopping one-third of its market value. This has mainly been occasioned by the loss of interest that most stakeholders have developed in response to these allegations.

Its shares fell by around 33% immediately the announcements. The slide slowed down to around 31.75% later up to the close of the business day. This slump in market value has no doubt adversely affected the daily revenue as well as the short-term financial standing of the firm.

The wider market was not spared either. Indeed, these shocking revelations have also sent the overall gaming market tumbling down. The London’s Alternative Investments market all-share index slumped by around 1.5% in the same week that the announcement was made by the gambling commission. The FTSE 100-share index was not adversely affected though. This is because it registered a paltry 1% slump in value.

This slump in the overall gaming share is understandable. Stride is the third largest online bingo operator in the United Kingdom. It commands a 12% market share. This loss of confidence, therefore, means a huge impact on the gaming market as a whole.

Given the significance of gaming to the British society, it waits to be seen the repercussions and long-term consequences of these developments. In particular, it is interesting to see the courses of actions that the various stakeholders are going to employ to counter these adverse developments.

These developments notwithstanding, the UK gambling and online gaming industry are still robust and reliable. The developments will hardly have any adverse effects or impacts on the resolve of the British society in enjoying their favorite pastimes.

 

 

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Casino Operators in a Possible Breach of Gambling Codes of Conduct

The Institute of Economic Affairs (IEA) has received a huge donation amounting to around £8,000 from the casino industry of the United Kingdom. This donation was supposedly made moments before the institute released a report of its findings. This report recommended that the current ban on the establishment of new casinos be lifted.

Casino OperatorsMoments before this donation was made, some officials of the National Casino Industry Forum (NCIF) supposedly met those of the Institute of Economic Affairs (IEA). The latter confided with the former sometime before drafting the final report. The report did not, however, mention this interaction in its final report though.

The report decried any attempt to further regulate the establishment of new casinos. It argued that there existed no reason to restrain mid-sized towns from accommodating newer casinos. The report is however open to any new opinions or calls for alterations.

This revelation of a donation was brought to the fore after the Guardian disclosed that the Institute of Economic Affairs had offered assistance to US nationals who had farming interests unbridled access to civil servants and top government officials.

These US nationals had planned to invest a whopping £35,000. Their meeting with Steve Baker, who at that time was the Brexit minister, was supposedly planned for by the said Institute of Economic Affairs.

The think-tank as a matter of fact also confirmed that several persons outside the Institute of Economic Affairs had been granted a peek into the report before it was finally drafted. It has however denied any possibilities of the final outcomes or conclusions being influenced by these interactions and access.

These developments have raised queries as regards the influence that the local casino industry may wield on the various institutions that are charged with the responsibility of overseeing it. The Local Labor party termed the developments as shamed.

In particular, it took issues with the Institute of Economic Affairs for its involvement in “widespread lobbying and scandalous political campaign activities.” It further stated policy was adhered to as part and parcel of the attempt to enable the think tank to pursue its precise goals.

Many members of the public have questioned themselves, ‘Could the independence of the think tank have been compromised?’

In consequence of these developments, some formal investigations have been launched to these effects. The Charity Commission has taken the lead in spearheading these investigations. Alyson White, yet another Government’s lobbyist, has also decided to initiate her own independent investigations.

Further to these, Ms. White has also revealed that she has launched an independent inquiry on whether the think tank, which was supposedly created as an educational non-profit organization, should, in fact, be registered as a lobbying body.

On its part, the Institute of Economic Affairs has downplayed any rumors of a possible breach of the existing charity laws. Its director, Mark Littlewood, while commenting on the issue argued that the contributors are unable to influence the final outcomes and conclusions of such a research in whatever shape and form.

The National Casino Industry Forum (NCIF) on the other hand, also denied any compliance with the research outcomes. It further went on to state that it neither commissioned nor paid for the report at all. It has maintained that those donations were made long after the report had already been instigated.

 

 

Crackdown on Advertising and Consumer Law Breaches

In 2016, the Competition and Markets Authority (CMA) in conjunction with the Gambling Commission commissioned a sector-wide survey to assess how the online gambling firms were treating customers.

Gambling CommissionBetween October 2016 and September 2017, Britons gambled a whopping £13.9 billion. The gambling industry employs around 100,000 people. In addition, the United Kingdom has 8,532 betting shops, 152 casinos, 649 bingo halls, and 183,928 gambling machines.

Moreover, during the just-concluded FIFA World Cup, the British households were bombarded with around 90 minutes of betting advertisements. This prompted claims that children were being unfairly subjected to messages that seemed to encourage them to venture into betting.

The government of the United Kingdom has been on the receiving end in light of these developments. It faced criticisms for allegedly taking too long to place curbs on the

£100-per-spin fixed-odds betting termini. These jointly earned £1.8 billion a year for the bookies.

In response to this, the government has responded by putting in stringent measures. These, it avers, shall restrict the amount of time the adverts run on screens. This shall subsequently, according to the government, reduce the amounts of money that are spent on gambling. It came up with these stringent measures following an open consultation with the various stakeholders in the field of gambling.

To actualize this aim, the government has passed legislation to make it easier for gamblers to withdraw their money in case of a breach of the consumer laws or advertising rules. This directive shall come into effect on October 31.

According to the said rule, the government shall also fine any betting firm that violates the stated codes of conduct heavily. These include running adverts that target small children, glorify gambling, and deliberately misleading consumers. The same case shall extend to third-party advertisers like marketing agencies besides sending unsolicited text messages and e-mails to consumers.

Apart from the heavy fines, the gambling commission also imposes an eight-week ultimatum for the operators to settle any disputes that may arise from customers. This is to reduce the tensions, apprehensions, and anxieties that consumers normally confront under such circumstances. These changes in the law, the commission hopes, will hasten and expedite the solution of breaches to the existing laws.

The founder of Justice for Punters, Brian Chappell had this to say, ‘It is positive to realize that the Gambling Commission has ultimately acknowledged that gambling companies require tighter regulations.’

‘Only time will tell of the new rules shall be adhered to the letter. It waits to be seen if the consumers shall enjoy their rights and receive fair treatments. This declaration is incomprehensive but is nonetheless a welcome move.’

In response to these, some gambling firms have already announced their way forward. PT Entertainment, William Hill, and Ladbrokes have already announced their commitment to changing the manner in which they offer the bonus to customers that play online. BGO Entertainment Limited also followed suit a month later.

 

 

 

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