Two internet casinos in the Club Red Gaming online gambling group, Red Flush and Casino La Vida, have successfully passed a tough inspection process to secure accreditation with the independent player protection and standards organisation eCOGRA.

By achieving the required standards, the two operations are now permitted to carry eCOGRA’s Safe and Fair seal, currently displayed by some 145 tier one online gambling websites that are monitored continuously for compliance with eCOGRA requirements.

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A Manhattan federal court sentenced a man who is alleged to have connections with the notorious Gambino crime family to 30 months in jail this week after he pleaded guilty to racketeering charges related to online sports betting.

The New York Post reported that Michael Scarpaci (34) played a role in an Internet sports betting ring and arranged high-stakes poker games.

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The land and online betting group Paddy Power , which acquired a 51% interest in the Australian group Sportsbet for €27.2 million in 2009, has locked up the remaining shares by exercising its option to buy the remaining shares of the company.

Paddy Power has invested a further €100.9 million in completing the acquisition.

Describing Sportsbet as “a cracking business”, Paddy Power CEO Patrick Kennedy said his company’s confidence that Sportsbet would be a profitable investment had been borne out “and then some.”

He revealed that the two companies had made great progress in merging the best of both organisations, allowing Paddy Power to drive development and investment and secure full participation in the upside of the business.

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Italy Playtech is one of the most recognizable names in the online casino industry, mainly because of their software development. This week, the company entered into a contract that will bring them into the Italian online casino market.

Playtech and Buongiorno have reached an agreement that will bring Playtech software to Buongiorno when the Italian government finally opens the online gambling market. Read the full post >>

Internet gambling operators who chose Cyprus as a convenient and tax-efficient base may have to reassess their position following developments this week in which the local constabulary announced that it had handed over information on internet gaming companies to the Inland Revenue Department.

Coming on the heels of government moves to ban online gambling altogether, it is yet another blow to operators on the Mediterranean island, reports the Cyprus Mail newspaper.

It has been estimated that the industry in Cyprus has an annual turnover of €2.5 billion, and this week the police revealed that information unearthed during local investigations into proprietors of internet gambling companies had been handed to the taxman.

Police spokesman Michalis Katsounotos told the newspaper that the IRD would now be able to check whether the income declarations in these individuals’ files are true.

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If you have had trouble conducting transactions with online casinos lately, Wikileaks may be to blame. Operation Payback has been causing a lot of problems with e-commerce lately and online gambling is not immune to the difficulties.

A group calling themselves “Anonymous” (wow, are those people clever with names or what?) launched Operation Payback to get back at companies that cut off Wikileaks. Credit card companies Visa and MasterCard stopped taking part in transactions that provided funds for the controversial website. Onl

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The Poker Players Alliance, an action body with over 2 million members that has long lobbied for the legalisation of internet poker, issued a statement this week on Senator Harry Reid’s new proposal to regulate and licence the popular pastime in the United States.

Executive director John Pappas cautioned that the proposal was an evolving process.

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It appears that the Australian state of Victoria is tightening up on gambling companies that offer inducements to punters to bet, with charges laid against four companies and the possibility of more to follow.

The Age newspaper reports that Tabcorp subsidiary Luxbet found itself in hot water for offering illegal rewards to punters as an inducement to bet on the 2010 Australian Open tennis championships.

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The European Union does not allow any of its member states to restrict exchange of services from other member states. Except sometimes it does. Such is the complex and ridiculous nature of international diplomacy. Despite the fact that EU rules do not allow any member state to ban or restrict access to their online gambling market, many member nations have done just that. Sometimes, such as with Portugal last year, they have even successfully defended their position in the European Court.

Now it seems that Cyprus may be the next European country to ban online gambling.

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Respected online gambling group Sportingbet Plc reports good progress in released results (unaudited) for the first quarter of its financial year.

Key Highlights for the first quarter ended 31 October 2010 include:

• Amounts wagered up 11% to £513.9 million (Q1/2009: £463.2 million)
• EBITDA up 17% to £11.3 million (Q1/2009: £9.7 million)
• Mobile phone launch proving successful
• In-play growth of 27% – now 66% of European sports revenue (2009: 58%)
• Joint venture announced with First International Bookmakers Company, Russia’s second largest licensed bookmaker
• Non Prosecution Agreement reached with the US
• Net gaming revenue up 5.1% to £51.1 million (Q1/2009: £48.6 million)

Andrew McIver, Group Chief Executive, commented:

“I am pleased to report a strong set of results for the first quarter of the new financial year.

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