Find Gambling Results – Online Casino Guide | Latest Gambling News

 

UK to license, regulate foreign gambling operators

Dec 17, 2011
UK Online Gambling Commission

Talks of a new way of going about dealing with offshore online gambling operators are now circulating. Under the proposed changes, foreign operators would be required to obtain licenses from the UK Gambling Commission, and to comply with British gambling laws. The issue of taxing foreign operators has not been mentioned.

The Times: Overseas online gambling groups will need license

Foreign internet gambling companies that target British gamblers will soon require a license according to a proposal released yesterday by the Department for Culture, Media and Sport (DCMS).

Sports Minister Gerry Sutcliffe admitted only a few of the biggest overseas gambling operators that target British players are forced to comply with the Gambling Commission’s regulations. The proposed system would require online gambling operators licensed outside Britain to apply for a license from the Gambling Commission before they could legally offer their services to British players.

An additional rule would require any company that targets British players to record information about suspicious betting patterns, and to share it with UK sports bodies and with the Gambling Commission.

The Government is also looking into ways of securing levy contributions from overseas operators, which has been a concern since UK companies Ladbrokes and William Hill moved offshore. The issue of tax, however, has yet to be mentioned.

The Guardian: Online betting faces regulation overhaul

The British government will soon overhaul the problematic online gambling tax by tightening regulation of offshore operators.

The change is influenced in part by the recent successes of online gambling regulation in other European Union countries.

“Online gambling has changed significantly in recent years with many European countries taking new approaches to regulation,” says Sports Minister Gary Sutcliffe. “It would be wrong of us to stand still where things are changing around us.”

The proposed changes may see the Gambling Commission issuing individual licenses to online gambling operators, with license fees contributing to the cost of gambling regulation and the treatment of gambling addictions.

Sutcliffe’s announcement comes shortly after Ladbrokes and William Hill, fed up with UK tax policy, announced plans to move their operations to offshore tax havens.

Because one of Gordon Brown’s last moves as chancellor was to bump the tax rate for internet gambling firms to 15% of gross profits, no poker or casino sites conduct their UK business through a Gambling Commission license or pay tax here.

According to a Treasury spokesperson: “The focus of the Department for Culture, Media and Sport (DCMS) review was on the regulation – not taxation – of remote gambling … The Treasury will continue to work with DCMS to ensure that any implications for tax policy, arising from the proposals, are properly considered.”

The Independent: Plans to regulate offshore gambling websites

The British government today revealed to regulate foreign gambling websites that target UK customers.

Sports Minister Gerry Sutcliffe revealed that the new rules will require all foreign operators that cater to British players to be licensed by the UK Gambling Commission and follow UK gambling laws.

Under the proposed changes (which are still being discussed), all offshore gambling operators targeting the British market will have to comply with the Gambling Act and will be required to report suspicious wagering patterns to the Gambling Commission and to sport governing bodies.

Licensed foreign operators will also have to comply with British license regulations, such the protection of children against gambling, and will be required demonstrate how they can contribute to lessening problem gambling in Britain.

In a statement to Parliament, Mr Sutcliffe revealed that few companies active in the British market are now regulated by the Gambling Commission. “Though British consumers are not unprotected – most overseas jurisdictions have regulatory systems – standards vary and requirements differ from our own.”

Several UK bookmakers recently chose to shift their online businesses overseas to avoid UK taxes; this is one of the driving forces behind the recent talks.

RECOMMENDED ONLINE GAMBLING SITE
Gamble online with Bodog!Experience Bodog Casino

Visit Bodog

  • Sportsbook / Casino / Poker Room
  • One account for all gambling
  • Robust casino software
  • Variety of progressive jackpots
  • Large poker network
  • Many sports betting options

UK Online Gambling Commission

Talks of a new way of going about dealing with offshore online gambling operators are now circulating. Under the proposed changes, foreign operators would be required to obtain licenses from the UK Gambling Commission, and to comply with British gambling laws. The issue of taxing foreign operators has not been mentioned.

The Times: Overseas online gambling groups will need license

Foreign internet gambling companies that target British gamblers will soon require a license according to a proposal released yesterday by the Department for Culture, Media and Sport (DCMS).

Sports Minister Gerry Sutcliffe admitted only a few of the biggest overseas gambling operators that target British players are forced to comply with the Gambling Commission’s regulations. The proposed system would require online gambling operators licensed outside Britain to apply for a license from the Gambling Commission before they could legally offer their services to British players.

An additional rule would require any company that targets British players to record information about suspicious betting patterns, and to share it with UK sports bodies and with the Gambling Commission.

The Government is also looking into ways of securing levy contributions from overseas operators, which has been a concern since UK companies Ladbrokes and William Hill moved offshore. The issue of tax, however, has yet to be mentioned.

The Guardian: Online betting faces regulation overhaul

The British government will soon overhaul the problematic online gambling tax by tightening regulation of offshore operators.

The change is influenced in part by the recent successes of online gambling regulation in other European Union countries.

“Online gambling has changed significantly in recent years with many European countries taking new approaches to regulation,” says Sports Minister Gary Sutcliffe. “It would be wrong of us to stand still where things are changing around us.”

The proposed changes may see the Gambling Commission issuing individual licenses to online gambling operators, with license fees contributing to the cost of gambling regulation and the treatment of gambling addictions.

Sutcliffe’s announcement comes shortly after Ladbrokes and William Hill, fed up with UK tax policy, announced plans to move their operations to offshore tax havens.

Because one of Gordon Brown’s last moves as chancellor was to bump the tax rate for internet gambling firms to 15% of gross profits, no poker or casino sites conduct their UK business through a Gambling Commission license or pay tax here.

According to a Treasury spokesperson: “The focus of the Department for Culture, Media and Sport (DCMS) review was on the regulation – not taxation – of remote gambling … The Treasury will continue to work with DCMS to ensure that any implications for tax policy, arising from the proposals, are properly considered.”

The Independent: Plans to regulate offshore gambling websites

The British government today revealed to regulate foreign gambling websites that target UK customers.

Sports Minister Gerry Sutcliffe revealed that the new rules will require all foreign operators that cater to British players to be licensed by the UK Gambling Commission and follow UK gambling laws.

Under the proposed changes (which are still being discussed), all offshore gambling operators targeting the British market will have to comply with the Gambling Act and will be required to report suspicious wagering patterns to the Gambling Commission and to sport governing bodies.

Licensed foreign operators will also have to comply with British license regulations, such the protection of children against gambling, and will be required demonstrate how they can contribute to lessening problem gambling in Britain.

In a statement to Parliament, Mr Sutcliffe revealed that few companies active in the British market are now regulated by the Gambling Commission. “Though British consumers are not unprotected – most overseas jurisdictions have regulatory systems – standards vary and requirements differ from our own.”

Several UK bookmakers recently chose to shift their online businesses overseas to avoid UK taxes; this is one of the driving forces behind the recent talks.

RECOMMENDED ONLINE GAMBLING SITE
Gamble online with Bodog!Experience Bodog Casino

Visit Bodog

  • Sportsbook / Casino / Poker Room
  • One account for all gambling
  • Robust casino software
  • Variety of progressive jackpots
  • Large poker network
  • Many sports betting options


Categories: gambling
 
 

Brain Probe Studies Why Gamblers Take Risks

Feb 09, 2010
Brain Study shows connection to Gambling

A recent study examined the behavior of two women who, because of a rare genetic disorder, had lesions on a small part of their brain called the amygdala. The study showed that these women were more likely to take big risks than patients with healthy brains. It may provide insight into why some people are less afraid to gamble than others.

BBC: Patients with amygdala injury ‘unafraid’ to gamble

Some scientists in California believe they have pinpointed the part of the human brain makes people afraid to lose money. A study published in the Proceedings of the National Academy of Sciences examined two patients who had damaged their amygdala, a special area deep within the brain.

The study showed that these patients were less worried about financial losses than the volunteers they were compared with whose amygdalae were intact. They use the term ‘loss aversion’ which describes the avoidance of choices which can lead to losses, even when those losses are clearly accompanied by gains which offset them.

The lead author, Dr Benedetto De Martino, explains things in terms of the game show Who Wants to Be a Millionaire, suggesting that many people would rather walk away with the prize they have than risk dropping to a lower level in order to try and win more.

During the study, participants were offered a series of tests to look at whether the chance of losing money had an effect on their willingness to take risks. The study found that healthy volunteers only decide to gamble if the gains were one and a half to two times the size of the potential losses.

Conversely, patients whose amygdalae were damaged were more reckless, playing even on poorer ratios between gains and losses.

John Aggleton, Professor of Psychology at Cardiff University, said: “Most people have been found to have a bias against losses, but this study shows very clearly that when the amygdala is damaged, this “loss aversion” disappears.”

The Independent: Genetic disorder turns risk-averse into gamblers

The brains of people who take big risks while gambling may differently than those of naturally cautious people, according to a new study that may have discovered a neurological basis for reckless behaviour.

The study found that people were more likely to engage in high-risk gambling when a specific area of their brain had been damaged due to a result of a rare genetic disorder. These individuals lacked the natural aversion to losing something of value that many are born with.

Tests on two women who had suffered damage this part of their brain, called the amygdala, revealed that they were less afraid to lose money in high-risk gambling situations compared to individuals with no such damage to their brain.

The amygdala is a small almond-shaped structure deep inside the brain. It is referred to as the “seat of fear” because of its central role in controlling this emotion. It is an ancient area of the brain that existed long before the outer “higher cortex” evolved.

“It may be that the amygdala controls a very general biological mechanism for inhibiting risky behaviour when outcomes are potentially negative, such as the monetary loss aversion which shapes our everyday financial decisions,” said Benedetto De Martino, a researcher at University College London.

Loss aversion behaviour is biologically important because it helps us consider the options involved in potentially life-threatening decisions. Today, it manifests itself in much different ways.

Reuters: Study shows why it is so scary to lose money

A recent study examined two women with brain lesions that made them unafraid to take big risks when gambling. It showed that the amygdala, the brain’s fear center, becomes active when people think about losing money.

The findings of the study were reported in the Proceedings of the National Academy of Sciences. The report suggests that humans may have evolved to be cautious about the possibility of losing food or other valued possessions.

Benedetto De Martinoa of the California Institute of Technology in Pasadena and University College of London were exploring why people will turn down big gambles, even when the gamble is likely to lead to an even bigger gain.

“Laboratory and field evidence suggests that people often avoid risks with losses even when they might earn a substantially larger gain, a behavioral preference termed ‘loss aversion’,” they wrote.

“We think this shows that the amygdala is critical for triggering a sense of caution toward making gambles in which you might lose,” Colin Camerera of University College London, who worked in the study, said in a statement.

The study may assist researchers in understanding why some people are more willing to take risks than others.

RECOMMENDED ONLINE GAMBLING SITE
Gamble online with Bodog!Experience Bodog Casino

Visit Bodog

  • Sportsbook / Casino / Poker Room
  • One account for all gambling
  • Robust casino software
  • Variety of progressive jackpots
  • Large poker network
  • Many sports betting options

Brain Study shows connection to Gambling

A recent study examined the behavior of two women who, because of a rare genetic disorder, had lesions on a small part of their brain called the amygdala. The study showed that these women were more likely to take big risks than patients with healthy brains. It may provide insight into why some people are less afraid to gamble than others.

BBC: Patients with amygdala injury ‘unafraid’ to gamble

Some scientists in California believe they have pinpointed the part of the human brain makes people afraid to lose money. A study published in the Proceedings of the National Academy of Sciences examined two patients who had damaged their amygdala, a special area deep within the brain.

The study showed that these patients were less worried about financial losses than the volunteers they were compared with whose amygdalae were intact. They use the term ‘loss aversion’ which describes the avoidance of choices which can lead to losses, even when those losses are clearly accompanied by gains which offset them.

The lead author, Dr Benedetto De Martino, explains things in terms of the game show Who Wants to Be a Millionaire, suggesting that many people would rather walk away with the prize they have than risk dropping to a lower level in order to try and win more.

During the study, participants were offered a series of tests to look at whether the chance of losing money had an effect on their willingness to take risks. The study found that healthy volunteers only decide to gamble if the gains were one and a half to two times the size of the potential losses.

Conversely, patients whose amygdalae were damaged were more reckless, playing even on poorer ratios between gains and losses.

John Aggleton, Professor of Psychology at Cardiff University, said: “Most people have been found to have a bias against losses, but this study shows very clearly that when the amygdala is damaged, this “loss aversion” disappears.”

The Independent: Genetic disorder turns risk-averse into gamblers

The brains of people who take big risks while gambling may differently than those of naturally cautious people, according to a new study that may have discovered a neurological basis for reckless behaviour.

The study found that people were more likely to engage in high-risk gambling when a specific area of their brain had been damaged due to a result of a rare genetic disorder. These individuals lacked the natural aversion to losing something of value that many are born with.

Tests on two women who had suffered damage this part of their brain, called the amygdala, revealed that they were less afraid to lose money in high-risk gambling situations compared to individuals with no such damage to their brain.

The amygdala is a small almond-shaped structure deep inside the brain. It is referred to as the “seat of fear” because of its central role in controlling this emotion. It is an ancient area of the brain that existed long before the outer “higher cortex” evolved.

“It may be that the amygdala controls a very general biological mechanism for inhibiting risky behaviour when outcomes are potentially negative, such as the monetary loss aversion which shapes our everyday financial decisions,” said Benedetto De Martino, a researcher at University College London.

Loss aversion behaviour is biologically important because it helps us consider the options involved in potentially life-threatening decisions. Today, it manifests itself in much different ways.

Reuters: Study shows why it is so scary to lose money

A recent study examined two women with brain lesions that made them unafraid to take big risks when gambling. It showed that the amygdala, the brain’s fear center, becomes active when people think about losing money.

The findings of the study were reported in the Proceedings of the National Academy of Sciences. The report suggests that humans may have evolved to be cautious about the possibility of losing food or other valued possessions.

Benedetto De Martinoa of the California Institute of Technology in Pasadena and University College of London were exploring why people will turn down big gambles, even when the gamble is likely to lead to an even bigger gain.

“Laboratory and field evidence suggests that people often avoid risks with losses even when they might earn a substantially larger gain, a behavioral preference termed ‘loss aversion’,” they wrote.

“We think this shows that the amygdala is critical for triggering a sense of caution toward making gambles in which you might lose,” Colin Camerera of University College London, who worked in the study, said in a statement.

The study may assist researchers in understanding why some people are more willing to take risks than others.

RECOMMENDED ONLINE GAMBLING SITE
Gamble online with Bodog!Experience Bodog Casino

Visit Bodog

  • Sportsbook / Casino / Poker Room
  • One account for all gambling
  • Robust casino software
  • Variety of progressive jackpots
  • Large poker network
  • Many sports betting options


Categories: gambling | gambling