On the day Betfair officially announced their intention to list on the London Stock Exchange, one of the two original founders of the firm, and the one responsible for the idea, Andrew Black, has resigned from the board of Betfair. He made it public on Facebook.
This doesn't come as a surprise at all, 'Bert' had admitted some time ago that he was advised to step away from Betfair totally, otherwise he'd forever be getting frustrated with its direction now that he was no longer involved in the firm on a day-to-day basis. Now he can just sit back and enjoy what it has done to his bank balance.
Well done Bert.Posted byScott Fergusonat00:26
Showing posts with label steps. Show all posts
Showing posts with label steps. Show all posts
Wednesday, 22 September 2010
Friday, 27 August 2010
South Africa steps back in time with online casino ban
In a move which blatantly only serves to protect the incumbent land-based operators rather than act as social policy, the Gauteng Gambling Board has banned all online gambling (defined as casino operations) throughout South Africa.
Note the name of the spokeperson quoted below....
Online gambling banned in South Africa
It is now illegal to gamble using digital products in South Africa, the Gauteng Gambling Board said after a Friday court ruling.
The judgement on the jurisdiction of online gambling transactions in the country was handed down by the North Gauteng High Court on August 20.
This means that online gambling operators in South Africa and players will be in contravention of the law, and according to Business Day, could face a fine of R10-million or 10 years in jail, or both.
According to the Gauteng Gambling Board's head of legal services, Lucky Lukhwareni, online casinos are now liable for prosecution.
How could anyone take a person named Lucky seriously, especially if they worked in gambling regulation??
Other reports (EGR) have stated that the ban refers to all forms of online gambling, but that would be even more ridiculous considering the sports betting licences they have awarded lately. Bans for online casinos had been rumoured earlier in the year so this comes as no great surprise.
Does it protect local residents? Not at all, it's not exactly difficult to find an online casino wherever you are in the world, although transferring South African rand outside of the country is often complicated. Posted byScott Fergusonat16:43
Note the name of the spokeperson quoted below....
Online gambling banned in South Africa
It is now illegal to gamble using digital products in South Africa, the Gauteng Gambling Board said after a Friday court ruling.
The judgement on the jurisdiction of online gambling transactions in the country was handed down by the North Gauteng High Court on August 20.
This means that online gambling operators in South Africa and players will be in contravention of the law, and according to Business Day, could face a fine of R10-million or 10 years in jail, or both.
According to the Gauteng Gambling Board's head of legal services, Lucky Lukhwareni, online casinos are now liable for prosecution.
How could anyone take a person named Lucky seriously, especially if they worked in gambling regulation??
Other reports (EGR) have stated that the ban refers to all forms of online gambling, but that would be even more ridiculous considering the sports betting licences they have awarded lately. Bans for online casinos had been rumoured earlier in the year so this comes as no great surprise.
Does it protect local residents? Not at all, it's not exactly difficult to find an online casino wherever you are in the world, although transferring South African rand outside of the country is often complicated. Posted byScott Fergusonat16:43
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