Posts Tagged ‘online sportsbooks’
Sportsbooks Plan To Enter India
December 8th, 2009 | 
Author: Leading online bookies are bidding for the first online gambling license in India to take share of country’s attractive $60bn betting market. William Hill, Betfair and Bwin are bidding for the internet license in the Himalayan state of Sikkim
It is known that some 13 betting companies, including local Indian operators, are battling it out for at least three licenses in Sikkim. Bookmakers want to launch their betting services live before the football World Cup in South Africa. Ladbrokes and 888 might also bid for a license in Sikkim.
Even though the license holders will be allowed to offer their services in Sikkim, they also expect to be able to take bets from all over India. India has a rapidly growing population of 1.2 billion, but Internet penetration remains low compared to Western standards and increasing only in more affluent states. Online sportsbooks hope that once other Indian states see the huge revenues and tax flowing into Sikkim, they will follow the trend.
Spokesman from William Hill said: "I can confirm that we are interested in entering the Indian market and we are in discussions with potential partners at the moment.” Indian law requires foreign companies to partner with a local company to offer its services. It has been informed that William Hill held talks with Global Torrent International based in Sikkim.
Betfair, best if all online betting exchanges, is partnering with Agilisys Managed Services. Betfair and Bwin have had teams on the ground in India for some time.
A Ladbrokes spokesman said: "We are watching the space to see what happens because there are several partner opportunities to get a license in the province of Sikkim.” 888 might also bid for a license in Sikkim.
The only legal betting activities in India are horse racing, trackside at meetings, and gambling at casinos in just two states, Goa and Sikkim.
According to official reports, legal operators of casinos and horse racing operations make about 0m in revenue in India each year from an estimated total betting turnover of bn.
However, the total value of bets waged in black market in India each year is at least $40bn. As a result, illegal outfits generate combined operator revenues of about bn each year. Online betting makes up only a fraction of the overall market.
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Posted in Sports Betting | 
Tags: betting exchanges, online bookies, online sportsbooks | 
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Sportingbet Thinks About French Market
Sportingbet, one of biggest online bookies, announced last month that it intends to enter the French market, but it has now been made public that the plans to do so have been put on hold due to the uncertainty of the market.
The French betting market has gone through some severe changes and these have had a major impact on those operators that currently possess a large market share in France. The changes that will be voted at the beginning of 2009 would mean that operators such as Bwin and Unibet, who currently hold a considerable market share in France will no longer be able to take on French players once they are licensed five to six months later. These regulations have been enforced with the intention to help French monopolies to keep their online clients.
Nevertheless, some online sportsbooks are still going to take a chance and enter this unstable market. However, some bookmakers have decided to approach French market in a different way. Paddy Power decided to approach the market with a business to business strategy.
Andrew McIver, the chief executive of Sportingbet, explained that the plan to expand into the French market had been postponed until further clues as to how the gaming regulation will be in the beginning of 2010.
Mr. McIver also said, “We are now not sure what we’re going to do. The situation has changed so many times that we still can’t be sure what the best course for us to take is. I suspect that to offer an off-shore model into France could be seen as aggressive by the French authorities and it could end up as a case of warfare. And that could become difficult, as Petter Nylander found out in Holland.”
It seems that Sportingbet will make its decision regarding French market in the beginning of the next year.
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Sports Betting … Who is the Real Enemy?
If you are a seasoned pro or are brand new to sports betting, then you probably know that it’s not an easy task to make money from this endeavor.Before you get started, knowing what you are up against can make that task somewhat more easy and profitable.
In the sports betting world there is this misconception that we are all trying to “Beat the Bookie”, but in reality the sports books are not the enemy at all.They just offer a safe and reliable method for the general public to place their bets and they take a small percentage of all of the action as a service fee called the juice or vig (Usually ten percent).The main goal of the online sports book is to have equal amounts of bets on both sides of a particular game.They really don’t care who wins as they get to keep their 10% just for accepting the bets.
In this example we will use the standard odds of 11/10 that are used primarily on football and basketball bets.What this translates to is that for every $11 you bet you can win $10 or for every $110 you can win $100.Here is how it works.
We will use the New York Jets and the New England Patriots for this example and let’s say the Patriots are the favorite by 7 points.So if you wanted to bet on the NY Jets +7 points then you would have to bet $110 with a chance to win $100.If you wanted to bet on the NE Patriots -7 you would have to wager the same amounts.So here is how the on line sports books make their money.If they managed to do their jobs correctly they should have had the same amount of wagers on both the NY Jets and the Patriots.
Group A – 1000 people bet on the Jets + 7 for a total of $110,000.
Group B – 1000 people bet on the Patriots -7 for a total of $110,000.
We will say that New England won by 10pts and covered the spread, making the Group B winners.So what happens is that the losing Group A bets of $110,000 are used to pay off the Group B winning Bets of $100,000 leaving the sportsbook with a cool $10,000 of profits.Not a bad pay out for about three hrs of work.Multiply this by the numerous games per day and you can clearly see that the sports books make a lot of money.
As you can clearly see the sportsbooks are not really the enemy.It’s the lines makers that you need to beat and with a little discipline, bankroll management and a proven sports betting system it’s a number that can be beat.
If you would like to learn more about how to be profitable at sports betting, then please grab a copy of my Free ebook : “Sports Investing Secrets – How to Turn $1,000 into $1,024,000 in Less Than 5 Years Betting on Sports” at my website http://www.1stopsportsinvestors.com.
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