Bushtucker Trial Challenge Raises £2 Million just for Charity from Mecca Bingo

It is a one of a kind celebration inside the Mecca Bingo Birkenhead buildings for a job well done. Unlike other companies who engage in charity as a marketing plan, it is undeniable that Mecca Bingo staff does it with passion.

 

It is in their consistency and their recently completed challenge “Bushtucker trial” that raised £2 million which was meant to go to Carers Trust. Carer Trust is an organization that provides

support to all careers above the age of 16 with all the help they need.

 

The Rank group which owned Mecca and Grosvenor casinos got into partnership with the Career Trust in February 2014. Since this time employees from both companies under Rank group have been consistently contributing together in one pool that is aimed at providing financial support to a liberal agenda on helping carers have a less challenging life.

 

It has been in their routine to participate in such like events in the past, but the most recent one which has been worth the talk of the town. The senior team at Mecca Bingo started a “Bushtucker Trial Challenge” in which it featured unusual food recipes which worked in handy as a fundraising campaign motive. The menu included critter cocktails, mealworms, buffalo worms, creepy crawlies, with all these lies on a bed of lettuce sprinkled with some dry cricket flour.

 

The team from Chester put in all their efforts in these charity fundraising campaigns. Thanks to all those who keep up with the consistency sacrificing their time, money and attention to someone who really needs them. This is a good example of how companies should be focusing on how to give back to the community in a memorable way. It is not a common thing to find a company raising such a big amount dedicated to charitable purposes. Therefore we appreciate the efforts and dedication made by everyone at Mecca Bingo Birkenhead who contributed to making this such a big success.

 

The Rank Group chief executive commended the act and expressed his pride with his team in their support at reaching the £2m milestone. He said that his team worked hard throughout the year to make sure they genuinely offer the best they could give to our charity fundraising programs. He added, “the achievement would not have been possible if all employees could not have offered their dedication and incredible support.” For sure it seems the company’s goals are well aligned alongside its employees no wonder chief executives from both companies noticed about the unity in how goals are achieved in Mecca Bingo was a thing of common interest to all. Gilles Meyer, the chief executive of Carers Trust, pointed out more on the humanity side of it.

 

According to its research, it claims that the UK currently hosts seven million carers. Therefore Meyer concludes that three in every five of us will end up being carers at some point in their lifetime. Some of these carers find themselves in desperate needs for things that charity funds will be of great help to them. Dave Lowry the general manager at Mecca Bingo, Chester generally just thanked every team member, customers and everyone who has taken something out of his pocket for the joy of other needy groups in the society.

 

UK Wants to Raise Online Gambling Tax in 2019, Allowing for Delay in FOBT Cuts

The U.K. government is planning upsurge the consumption tax for online gaming early next year. This is as a response to critics who opted that the United Kingdom needs to impose more tax on the gaming companies.

 

The main aim of increasing the tax is to be able to pay for the treatment of gamblers issues. It will also satisfy the ones who believe that gaming companies don’t pay enough taxes. Formerly, the POC tax rate for online gaming is 15%. The increment is somehow seen as a way to placate the critics who are not happy that maximum stakes on fixed-odds betting terminals will not be there in 2019

 

The very first time when the Point-of-consumption taxes were introduced in the United Kingdom was in 2014. This is when the British government came up with the idea of taxing British citizens who use online casinos and are not in their areas but still receive some revenue from the games. This includes all the casino websites as well as sportsbook websites even if their headquarters is suited elsewhere.

 

Some British firms choose to do business somewhere off-island so as to keep their operating costs low and also pay low taxes. After the rise of the government need to raise the POC tax, some online gaming firms have complained that increase in tax will cause them to raise prices for their items as well as comp limits which in return lowers their profit.

 

For quite some time, the British government has been criticized for timing the increase of POC. However, according to the critics, United Kingdom opted to raise the POC taxes since the treasury bonds were worried, a loss of revenue would affect the entire budget. More so, the research shows that lowering the betting limits on FOBT machines would lower the entire revenue.

 

Increasing the FOBT rate to a $5 supreme bet from $132 maximum bet signifies a vast funding gap. Moreover, the treasury concern on the drop-in revenue, but gaming companies are arguing that they will be hit twice. One is by reducing the revenue from the FOBT machines and the second is from increasing the POC tax. Right now, there are timeline limits are either the POC tax increment or FOBT decrease.

 

The Treasury said that it will focus on implementing the POC tax increase come next year. And by April 2020, it wants to decrease FOBT. Nonetheless, according to the Economic researcher’s part of the motive for the extended rollout is that the government wants to lower the gambling industry impact. In return, this will create a chilling effect on the gaming industry as well as redundancy rate and the British budget.

 

Gambling firms have already cleared that an increase in taxes and a reduction in revenue have a great potential to disrupt their businesses. According to the British government, their plan is going to push through and the gaming establishments are likely to pass the operation cost. This will include taxes will run down to their customers.

 

The tax may be passed down in the form of consumer tax or cash outs. Even though the decrease of in the maximum bets on FOBT has been a great debate topic in the UK the upcoming change may on the online gambling taxation may be great issues for the players.

 

Brexit on Gibraltar Gambling Industry is Imminent

The United Kingdom is almost exiting the European Union. This impending departure from the regional and economic bloc is intended to inflict adverse consequences on the gambling industry in Gibraltar. This is because Gibraltar is under the domain of the United Kingdom.

 

brexitIn case Brexit goes through successfully, then firms that are located in the UK but which would wish to gain access to the EU market will have to make individual applications to this effect. This will further complicate issues for the various gambling operators. They will also forfeit the privileges that come along with the Mini One-Stop-Shop (MOSS Scheme). They will not be able to supply services and goods to the European Union except they register for it.

 

The reasons that underlie these likely adverse negative consequences are many. For one, the firms that are located in the United Kingdom shall no longer have access to the huge European Union market. This, of course, shall translate to reduced revenue inflows.

 

In response to these dangers, Gibraltar has decided to put in place certain intervention mechanisms. The city-state has decided to lower its tax revenues from gambling yet at the same time raise its license fees on gambling companies.

 

Many firms have also decided to take matters into their own hands. They have for instance decided to offload some of their operations to localities that are still within the jurisdiction of the European Union. The most notable examples of these are the Bet365 and 888 Holdings.

 

The issue is yet to be resolved conclusively though. This is because the Brexit deal has yet to be finalized. Moreover, various stakeholders within the gambling industry are still pushing for certain concessions to be made and guarantees approved.

 

As stated, Gibraltar has lowered its tax rate from gambling revenue. Before the Brexit talks commenced, the nation-state levied 1% tax rate on the revenue from gambling. It has reduced this rate drastically to a paltry 0.15%. This has given many firms that operate in the area some incentive to keep staying on the island despite the impending exit of the United Kingdom from the European Union.

 

On the same note, the nation has increased the license fees on new gambling firms. For instance, the business-to-business corporate entities are now supposed to part with $112,000 (£85,000) while their business-to-consumers are required to pay $132,000 (£100,000) for the license.

 

Given that license fees are a one-time expense, this increase is very unlikely to inflict a significant rise in the cost of doing business. On the contrary, it shall enable the state to make up for the anticipated loss of tax revenue at least in the short run.

 

In response to these latest developments, Bet365 has already indicated the intention of relocating to Malta. The Minister for Financial Services of Gibraltar, Mr. Albert Isola, has however downplayed this move. He maintains that Gibraltar still has the capacity to weather the storm and secure its financial standing even if the UK withdraws from the EU.

 

Some stakeholders have even contemplated looking up to the World Trade Organization for a guidance on the way forward. They draw their inspiration from the Case that pitied Antigua on the one hand and the United States on the other hand. The World Trade Organization did step in and offer an amicable solution.

 

This stand has mainly been inspired by the fact that service industries, of which gambling is part, has largely been given a wide berth during the ongoing Brexit negotiations. They also decry the complex nature in which the payments from gambling will have to confront. It will be interesting to see just how the issue will ultimately be resolved.

 

UK Betting Firms Under Probe Following the World Cup Fallout

During the just-concluded 2018 FIFA World Cup, many people and households complained about being bombarded with betting and gambling adverts. Much of the complaints have concerned the intrusive nature of those adverts.

 

world cupMany have claimed that the adverts ate a few of their live matches. A number of the complaints have concerned the urgent manner in which the advertisers have wanted their target audience to bet. In light of this, a whopping 115 have forwarded their complaints to the Advertising Standards Authority.

 

An independent study by the Guardian deduced that on average, UK viewers were exposed to around 90 minutes of betting adverts throughout the four-week tournament. The research also pointed out that most parents were uncomfortable with the fact that their children were exposed to such adverts.

 

This, they argued had the impact of normalizing gambling and inducing their young ones to the practice before they are old enough to do so. Lastly, there was also concern among viewers of the way in which the betting firms push their message. Most they said used pressure tactics that made them respond impulsively. There was some unanimity among the viewers that some appropriate actions be taken in response to this menace.

 

In light of these allegations, the UK advertising watchdog has instituted official investigations. The main target is the Bet365, Carol, and William Hill which has been identified as the greatest culprits. They have allegedly broken the new rules that were put in place to put a halt on problem gambling.

 

These three firms have been noted to have crossed certain boundaries. The formats they use and the messages they have used have particularly been identified and being way off the mark. These approaches are not recommended for gambling adverts as they tend to encourage problem gambling.

 

The UK advertising watchdog is currently evaluating those complaints to ascertain the grounds on which to institute formal investigations. They are particularly going to deduce whether the tactics that were used by those companies indeed violated the advertising codes of the United Kingdom.

 

The advertising watchdog is expected to follow the footsteps of its Australian counterparts in charting the way forward. In light of this, it is anticipated to recommend a variety of steps to be taken in response to the menace. It may, for instance, recommend an overhaul of the existing laws, an alteration of the mandate of the advertising watchdog, and the penalization of the at-fault betting firms.

 

The UK advertising watchdog has no jurisdiction to oversee the number of adverts which appear in the FIFA World Cup matches. This is because such matches fall outside the mandate of the rules which govern gambling companies and their adverts, especially towards small children. It is therefore interesting to see its recommendations as regards the way forward.

 

This being the case, the Advertising Standards Authority shall only be to determine whether the said betting adverts which featured live odds broke the new rules that we put in place in February. It will also seek to determine whether the firms encouraged the menace of problem gambling.

 

Farther afield, many other nations have already started taking this path. Italy, for instance, has already started putting in a legal framework to completely ban gambling adverts. Its Minister for Labour and Economic Development, Luigi Di Maio has taken the lead on the issue.

 

He noted that whereas the practice of gambling generates plenty of tax revenue to the government, its grave societal repercussions far outweigh the tax revenues. He further termed it as a disease which has to be eliminated by all means. These steps shall take effect from January 2019 despite opposition from a number of betting firms.

 

2018 World Cup: UK Gambling Advertising Received Criticism

 

Over 90% of TV advertising breaks during most of UK live football matches consist of at least one type of gambling advert. This according to a recent study by Victoria Derbyshire, which evaluated well over 25 games, which involved live soccer broadcasting in the UK

 

More so, one in five of the commercials displayed during 25 matches, was for betting purposes.

The UK government has recently considered the implementation of the appropriate controls for the ever-increasing number of gambling ads.

 

According to betting firms, the adverts have `limited impact` on gambling rates

Based on a contract with the industry, advertisements can only be broadcasted after 9 pm, with an exception in sporting events.

 

Early this year, countries such as Belgium and Australia passed a law to ban gambling adverts that were broadcast before the watershed period

Just in the previous month, the Local Government insisted that improved restrictions needed to be implemented to control the advertisements. According to the government, there was an increasing concern about the number of gambling adverts, which were compromising the state’s ability to be socially responsible for growth.

 

The state outlined the fact that adverts in the live matches were broadcasted to millions of viewers which also included children, while most of the Premier League and Championship teams received funding from betting companies

 

Besides that, a recent similar study conducted by the Goldsmiths University showed that an average of 250 distinct adverts was displayed during the BBC`S Match of the Day Session. Most of these adverts were on hoardings, post-match interviews, just to name a few. These advertisements have caused concern all over the country, with many believing that it should be controlled.

 

The UK advertising watching is also evaluating various claims about the irregularities in advertising by several betting companies. Some of these companies including Bet365, Coral, William Hill, just to name a few. It is reported that the advertising standards authority of the UK received hundreds of claims from views about the gambling ads which were broadcasted during the World Cup. This well over three times the number the watchdog receive in the previous month before the World Cup had started.

 

Most of the complaints received by the watchdog group are related to the number of gambling ads that appeared during the competition. Other groups also determined earlier in the week that World Cup viewers in the UK were exposed to an average of 90 minutes of betting ads. Most of the complaints also mentioned that the gambling adverts were irresponsible and insensitive to children.

 

Increased restrictions and regulations on advertising are to be expected in the next few coming weeks.These restrictions are likely to be released by the Department for the Culture, Digital, Media and Sports at some point this year.

 

The government has also taken a stance on the issue by stating that `gambling companies` have the role of protecting their players. More so, the state also added that more work is required if these results are to be achieved.

 

 

Jeremy Kyle Show on ITV Lands New Sponsorship from Sun Bingo

Starting Monday 16th July 2018, the UK’s online bingo property Sun Bingo has just confirmed on taking over the lead sponsorship to the daytime program on ITV, The Jeremy Kyle Show. Hannah Swales who is the head of Sun Bingo confirmed to the market for the sponsorship. She stated that the show would become the latest Sun Bingo’s high profile lead partnership.

 

The tabloid talk show has been in broadcast since 2005 being broadcasted each weekday at 0925h and is considered a long-standing flagship asset for the ITV studios programming. Up-to-date it has recorded over 3000 episodes where Jeremy Kyle together with other guests tries to solve the raised confrontations.

 

Speaking to the media, Hannah Swales said, “The Jeremy Kyle Show is one of the UK’s prime daytime TV shows with over 3000 episodes to date. We are excited to be partnering up with ITV and we will be looking to build on our latest campaign of ‘Are you Gonna Bingo’ to deliver a fun engaging message to a brand new audience.”

 

Regarding the sponsorship, Sun Bingo intends to use the programs social media inventory which represents a first for any commercial partner which is involved with the Jeremy Kyle Show.

 

The sponsorship has also seen the Sun Bingo secure the TV idents for the morning talk show as a promotional platform. They have even brought back UKs female comedian Jayde Adams as the face of the video on demand promotional content dubbed, “Are you Gonna bingo?”

 

In support of the sponsorship, Sun Bingo has appointed Pulse London sister agency The&Partnership as a marketing lead. They are to assist in the creation of creative content and messages that are aimed at promoting the company.

 

The partnership will see The&Partnership help in refreshing and rebranding the brand. This will be done through a targeted campaign spanning TV, through the print, the digital and social media campaign as well as through the radio campaigns with the title, ‘Are you Gonna Bingo?’ Starting last week on Wednesday the campaign went on air being directed by the acclaimed director Jack Clough. Jack Clough is a renowned director, having recently directed BAFTA which is a winning comedy series, ‘People Just Do Nothing.’

 

In an interview, Sun’s marketing boss Kate Bird said, “Our readers and customers love the Sun brand for being proud and fun, so we challenged The&Partnership London to refresh our award-winning, world-breaking-record Sun Bingo brand in a fun and exciting way.”

 

To attract new and younger audience to the Sun Bingo’s online gambling, they have brought in Jayde Adams with a funny grime inspiring music video. The video has been featured at a bus stop, on the red carpet, at a tea plantation and also as she is sitting on the back of a talking racehorse.

 

Using the comedian has brought in a lot of social media attention. Jayde has previously won different honors including Funny Women Awards in 2014 and recently won the Best Newcomer award at the Edinburgh Comedy Awards in 2016.

 

ITV is set to run the ident on the show, through span prints and also in the social media. Its main aim is reminding the viewers that they can play anytime, anywhere on their smartphone with Sun Bingo. They are also focusing on bringing on board a new audience.

 

Yan Elliott who is the Joint Executive Creative Director at The&Partnership London remarked, “It was a delight to have comedian Jayde Adams back in the studio from our ‘Are you Gonna Bingo?’ campaign to help us create some genuinely funny, relatable characters. The partnership with Jeremy Kyle is perfect for the brand, and we hope Jayde and her pals keep audiences as entertaining as the show does!”

 

 

William Hill’s Stand on Problem Gambling

With the introduction of gambling, many people found a source of making extra cash on the games that they like. Over the years, more and more people enrolled in gambling across the world. However, the gambling industry has failed to perform its role in preventing the negative effects of gambling.

 

According to William Hill, the stakeholders in the wider gambling industry have launched a new approach to the matter to prevent more harm caused by gambling. William Hill appointed Lyndsay Wright as their first-ever director of sustainability. This gives her an additional role to her already existing roles like the one in charge of strategy and investor relations. According to Lyndsay Wright, the response to gambling-related problems is very significant for the future of the gambling industry. In addition, she stated a number of commitments the William Hill was putting in place to curb problems arising from gambling.

 

As part of the campaign to end gambling-related problems, Lyndsay Wright stated that William Hill as a company is pushing for the registration of all products across the industry. She also added that the firm is taking an active role in the push for reforms in advertising around live sports. The campaign against gambling problems is a result of repeated calls by the Gambling Commission to have the stakeholders in the gambling industry reduce the negative effects of gambling, especially on television advertising.

 

Lyndsay Wright stated that the company has been working to correct the matter for more than nine months. She added that the company is very cautious about the significant decline in people’s perception concerning both the company and the gambling industry at large within the past few years. Also, Lyndsay said that to understand the issue better and respond to it in the right way, the gambling industry needed to ask tough questions within itself and that it’s the ambition of all stakeholders in the gambling industry to ensure gambling harms nobody.

 

According to the Gambling Commission, more than 400,000 people within Britain are problem gamblers. The Commission also added that with there are over two million people who are exposed to the risk of becoming problem gamblers. Research showed that for every one who becomes a problem gambler, there are at least six people who are indirectly affected. This showed that the gambling firms have failed to attain what is expected of them and that the reputation of the gambling industry was at stake.

 

According to Wright, the issue of gambling problems is broad and requires urgent attention for the long-term success of William Hill as well as the entire gambling industry. She added that William Hill is a company that has been in existence for eighty-four years and it needs to handle gambling problems with a lot of care and in the right way for it to survive for a longer period. She added that it is the company’s desire to have the clients not only enjoy gamble but also stay gambling for a long time.

 

 

Monzo and Starling Banks Gives a Helping Hand to Gambling Addiction in UK

Based on reviews, there are almost 528,000 people in the UK who are addicted to gambling.Among this people, 80% of them face bad debts that end up crippling them regarding financial status.

 

As we all know gambling is very addictive and can be hard to stop once you get into it. Challengers banks Monzo and Starling have decided to help the addicts to achieve their dreams of ending gambling by coming up with an option of blocking all the payments to gambling operators. This means that no payment can be made to any betting shop or site from your current account once you enable the feature on their apps.

 

This option will be a great help to those players who are trying to stop spending much of their money on gambling. Tony Franklin, one of the people who has tried using the application to prevent the bad habits, spoke to The Daily Mail and he confessed to having lost his home and his family twice as a result of gambling. He continued to say that the gambling life had consumed most of his adult life. He says that using the application is the only and the best way to get out of gambling. He says with the app you cannot fall back to “cauldron of chaos” as he described it.

 

Tony said that gambling had affected his whole life; family, friends, employment, financial status, housing and making matters worse even his health. Mr. Tony is now recovering from the bad habits, and he says his bank has great played a significant role in keeping him on track. His financial status is slowly getting back to where it should be. However, he still has some debts yet to be paid but he believes with time he will manage to pay them all.

 

Now the two banks, Monzo and Starling are helping all the current account holders to quit the bad habits. Before the two banks came up with this applications, players had to talk to the different gambling operators so as they could block themselves from receiving payments from the player. Sterling bank was the first to come with this feature that helps players block payments to the operators. Monzo followed closely and came up with a feature too. The two challenger banks have accounts that are operated using a mobile app. Another bank that has the feature is Barclaycard. It allows its credit card holders block their card from all gambling transactions. They do so by talking to the customer care.

 

Those with Starling current accounts they can block the transaction by switching on a feature that is on the app. As long as the application is on, anytime one tries to make payments to a registered gambling operator the transaction will be rejected. One can unblock the payments on the app using the feature as long as they want but a message will pop-up prompt them to seek help from the National Gambling Helpline.

 

Those with Monzo current account can as well use the app to block payments to gambling operators, or they can do so by talking to the customer services through the messaging feature on the app. Any payment to a registered gambling operator will be rejected too. When one feels like unblocking the payments, they will need to talk to the customer services using the feature on the app. They will be asked several questions about the situation and the team will encourage the customer to rethink. If the client still wants to go ahead, it will take 48 hours to switch off the blocker.

 

 

United Kingdom Gambling Commission Seeks the Right Methodology to Gauge Gambling Impacts

The United Kingdom Gambling Commission (UKGC), which oversees gambling, has decided to step in to stem the tide of gambling-related harms.

 

The commission has decided to put in place groundbreaking approach towards comprehending the extent of the impacts to the British society. It has as a matter of fact released the published findings to the public.

 

This study was spearheaded by Dr. Heather Wardle, who heads the Responsible Gambling Strategy Board (RGSB). This is the body that provides independent advice to the United Kingdom Gambling Commission. The report was generated by a close partnership between The Responsible Gambling Strategy Board and the Gambling Commission. It was funded by the GambleAware.

 

In a nutshell, the report recommends that the manner in which the social costs of gambling-related harms may be gauged and better understood should be suggested.

 

To accomplish the purpose stated above, the report aims at:

  • Settling on a universally accepted standard definition of gambling and attendant harms which may be adopted by public health officials and policymakers.

 

  • Ascertain the manner in which the socioeconomic impacts of gambling and related harms may be better comprehended, monitored, and evaluated.

 

  • Put in place a framework against which subsequent actions which finds out how the harms which may be felt by families, individuals and communities may be dealt with.

 

  • Find out the best ways possible through which to estimate the social costs of gambling and related harms.

 

This is what Neil McArthur, the Gambling Commission Chief Executive, had to say,

‘Whereas most customers may enjoy gambling without any worries, we just cannot overlook the possible adverse effects the practice might inflict on certain communities, families, and individuals. This report demonstrates significant progress towards comprehending those negative side effects as well as gauging their possible impacts on the wider society and  the entire economy.’

 

The lead author of the report, Dr. Heather Wardle, had this to comment:

‘This is a remarkable step towards understanding gambling. It is a far cry from the existing approaches in that it acknowledges gambling as being able to affect communities, families, and society over and above individuals only.’

 

GambleAware chief executive officer, Marc Etches, on the other hand, had this to say:

‘Problem gambling is undoubtedly a health concern. It has the abilities to inflict critical social and economic consequences to the individuals concerned as well as their families, communities, friends, and the society in totality. This is why this project is very significant. We urgently need to comprehend what gambling is, as well as its adverse knock-on effects to us.’

 

Over and above the objectives stated above, the initiative also aims at putting in place an effective framework which considers the possible impacts of gambling and related harms. This framework is to be extended to the families and communities wherein the gamblers reside. It even dares to gauge the overall costs of gambling in the entire society.

 

Neil McArthur, the Gambling Commission Chief Executive, further had this to say:

‘Significant progress towards understanding the possible side effects of gambling as well as measuring its adverse impacts on the entire British Society and the economy has already been reached. There is still a lot more to be done, though.’

 

 

 

UKGC Claims LadBrokes Misled it in the Case Probe Against Black Dave

The UK Gambling Commission claims that Ladbrokes betting company misled it while probing the Black Dave case. The commission further stressed the need to exercise great caution while confronting Rule #4 deductions in the horse racing by the bookmakers.

 

The lead trainer, David Evans, was fined a year ago by the ruling body of the horse race. This was due to the fact that he delayed notifying a non-runner, Tango Sky so that he could support his acquaintance, Black Dave as should have been the case. This should have happened before the odds shortened. He informed Ladbrokes of his intention to pull out Tango Sky moments after placing his bet.

 

This, the gambling commission argued, constituted a breach of trust. This, it argued, was not only unethical but also goes against the goodwill that ought to exist between the companies and the customers.

 

Throughout the probe, Ladbrokes maintained that it was unaware of why it had to shorten the odds of Tango Sky as soon as Evans had placed his bet. This notwithstanding, the Commission received tangible proof that it did so in order to leverage the deductions of Rule #4.

This it did supposedly to prevent Evans from winning the bets that had already been placed. The Commission further claims that Ladbrokes did not review all the information available to it thoroughly before providing those inaccurate explanations.

 

Notwithstanding these glaring discrepancies, Ladbrokes managed to escape the consequences. This was alleged because those actions did not constitute a breach of the commission’s licensing conditions or codes of conduct. The case also occurred way before the public statements of the gambling commission as regards the fair application of Rule #4.

As an acknowledgment of its initiative to point out the case to the racing regulator on the material day of the race, Ladbrokes was credited. The firm, it is understood, saved £7.70 by shedding off Tango Sky’s price in what was considered a weak race for a turnover.

 

In response to this misfortune, the gambling commission has now stipulated new regulations which it requires all the betting firms to apply the Rule #4. Most betting officials are however pessimistic about these new regulations.

 

A Ladbrokes Coral statement had this to say:

‘We initially interpreted what transpired when the price was altered to be inaccurate. This is a fact that became very clear when we examined the finer details.’

The statement further added:

‘Shortening the Tango Sky’s odds was inconsistent with its trading policy at that particular time. This action has since made it known to the traders that markets have to be suspended immediately such issues arise in future.’

 

The gambling commission has further insisted that betting companies must factor what transpired in the Black Dave case and subsequent reactions of Ladbrokes. It also reminded the players that the long-term viability of the sector is greatly hinged on the customer trust.

Further to that, the gambling watchdog insisted that it would continue monitoring the situation and if called for, exercise the formal regulatory powers on the specific bookmaker and the entire gambling industry.

 

In response to these sweeping measures, the bookmaker had these to say:

‘Our initial understanding of what unfolded at the time the price was altered was not right. We only learned of this though when the case was examined in details. Moreover, the company also explained that Tango Sky’s price reduction was not in line with its trading policy at that particular time. It had also warned its traders of the same. ’

 

In light of these developments, the UK gambling industry is expected to undergo spectacular transformations. It will be interesting to see just how far-reaching these developments shall go.