Odds Look Good For Gamblers - Forbes - 10th July 2009

Internet gambling seems like a recession-proof business and even the reluctant U.S. might ride the train.

LONDON - Despite warmer weather and tough economic conditions, sofa spuds are still playing high rollers in virtual casinos. On Thursday online gaming firm PartyGaming, reportedly a takeover target of Nasdaq-listed rival Gigamedia, saw a jump in shares as much a 7% after it said trading in the second quarter has been robust with revenues in line with the first quarter.

Gibraltar-based PartyGaming, one of the world's biggest online gambling firms, also said casino sales had significantly increased from the previous quarter, driven by a substantial increase in the number of games being offered on its PartyCasino site.

"Casino is developing into a major success story and recent poker initiatives are getting traction. We are maintaining our forecasts at this stage but there are increasing grounds for optimism," said Wyn Ellis, an analyst at Numis in London.

The recent jump in PartyGaming shares might be just a premonition of a much bigger rally next September as industry analysts expect a 2006-anti online gambling law to be scrap in the U.S. by the end of the fall.

"There is a reasonably good chance that the U.S. will introduce some positive online legislation in terms of gambling first at a state level in September and then at a federal level," said Nick Batram, an analyst at KBC Peel Hunt, a brokerage firm in London.

Last May, Rep. Barney Frank introduced a bill to propose that online gambling be legalized and regulated in the United States. PartyGaming's shares have hovered around the $3.80 mark ever since they dropped from nearly $15.00, just after to the passing of the Unlawful Internet Gambling Enforcement Act in October 2006.

But PartyGaming shares, along with rival 888 Holdings, could see a rebound soon. "Some of the share prices have already discounted the U.S. opening up the online gambling markets and the possibility of some sector consolidation, but shares in European online gambling companies will rally European rally there is an element some of the share prices already discounting the US opening to a degree or some sector consolidation," said Batram, adding he still expects shares to rally once regulation for companies in the U.S. is relaxed.

Yet he warns PartyGaming's shares and other stocks like Gigamedia probably won't reach the historic highs they enjoyed before the outlaw act of 2006.

The U.S. government could raise more than $50 billion over 10 years from taxes on legalized online gambling, according to a study by PricewaterhouseCoopers. Online gambling generated revenue of $6 billion last year in North America, more than a quarter the global total of $22.6 billion, up from $17.6 billion in 2006, according to H2 Gambling Capital. (Credit: Forbes.com)

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Virgin Poker Points - Get More With Virgin Games!

London, 29th July 2009 – Virgin Games, the online gaming service is improving its V*POINTS customer loyalty scheme by giving players up to five times more points when they play for real money online.

The Virgin Games’ V*POINTS customer loyalty scheme offers players the chance to earn V*POINTS in return for money wagered across Virgin Casino, Virgin Bingo and Virgin Poker.

Points accumulated can then be swapped up for cash, Virgin Atlantic Flying Club miles, Virgin Experience days, Virgin vouchers or donations to the Virgin Unite charity ensuring the great Virgin experience extends beyond online play.

And that’s not all, to celebrate; Virgin Casino has 50,000 Virgin Atlantic Flying Club miles up for grabs throughout the month of July.

To qualify, customers simply play cash at Virgin Casino and at the end of the month 26 lucky winners will be drawn and awarded a share of the prize! Players automatically receive a V*POINTS account when they register at Virgin Games so that they can start accumulating points straight away.

Simon Burridge, CEO Virgin Games, comments: "The new V*POINTS loyalty rates offer our players greater added value and return as well as the chance to earn points every time they play. Our new and improved customer experience program allows us to continue to deliver the unique Virgin experience and reward our loyal customers." For more information on Virgin Games please visit http://www.virgingames.com

-ENDS-

Notes to Editors: Players earn V*POINTS across Virgin Casino, Virgin Bingo and Virgin Poker, see a further point breakdown below:

Virgin Games Group V*POINTS earned for every £100 wagered
Slots 10
Blackjack 5
Roulette 7.5
Tables and Poker 7.5
Instant Win & Keno 10
Jackpots 10
Bingo 60


About Virgin Games Virgin Games launched in June 2004 and has quickly established itself as one of the leading gaming websites in the UK. Virgin Games comprises four distinct offerings:

Virgin Casino, part of the Wagerworks network, brings consumers classic casino offerings like blackjack and roulette, as well as great feature slots like Monopoly, Cluedo, Dungeons and Dragons Fortress of Fortunes™ and the highly popular MegaJackpots progressive games, with a seeding value of £1,500,000

Virgin Poker, part of the Boss Media network, offers a huge array of games and content for beginners through to experienced pros – as well as the most generous loyalty scheme in the industry

Virgin Bingo, part of the Virtue Fusion network, offers cash prizes worth thousands of pounds in the progressive jackpots, as well as Virgin prize bingo and a range of unique Virgin Games bingo games.

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10million US Poker players despite UIEGA ban

Despite US restrictions, America still remains as the largest online poker market.

Market research company, Poker players research (PPR) has found that despite the Unlawful Internet Gambling Enforcement Act (UIEGA) which banned online gambling back in 2006, there are still over 10million real money poker player in the USA. This figure shows more than 5 times the amount of players in the UK, the second largest market in the world with 1.9million poker fans.

Germany came in third from the research, with a market size of 1.6million which was slightly ahead of France who has 1.3 million players. Scandinavia’s mature market has just 1.4 million real money players.

PokerStars and Full Tilt have taken more than half of the market share as they stayed in the US throughout the legislative struggles, at the expense of those who pulled out after the UIEGA was passed. Operators that pulled out include PartyGaming, the new owners of Cashcade, who settled with authorities for $105m in April.

PartyGaming took a calculated risk by settling with the authorities, so that it may be able to re-enter the market if efforts to regulate the American online gambling industry succeeds. However operators 888 haven’t shown any signs of moving towards a settlement with the US Department of Justice.

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Online Poker Room Extends Genius Promotion

Online poker site PartyPoker.com has extended its current Genius promotion over an additional five million hands offering players even more chances at winning some serious cash for just pennies.

The world's second busiest online poker site, PartyPoker.com began its Genius promotion on July 6 offering to square the pot for every 50,000th hand that is played at the site's cash tables for a minimum $100 jackpot up to a maximum $5,000 bonanza.

Initially set to run for ten million hands, the promotion has now been extended to 15 million hands with every player involved in the unique game receiving an equal share of the payout with the winner taking home the original pot.

As part of the promotion, PartyPoker.com stated that every millionth hand would have a guaranteed $10,000 prize pool while the final game will see $100,000 up for grabs.

As an example, the Genius promotion will pay $4,900 if a game has a pot standing at $70 and happens to be one of the lucky squared contests. That is $70 multiplied by $70 for a total $4,900 for each player. However, if the pot for a game stands at only eight dollars, then PartyPoker.com will kick in a bit more to take the jackpot up to $100, the minimum amount.

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PartyPoker - Track down a fortune with The Jackpot Hunter

Claim a share of $80,000 when you win five tournaments in a row

Start Date: 20th July
End Date: 2nd August

Show us that your poker skills are up to the challenge of The Jackpot Hunter and we’ll reward your efforts with a big-money prize.

Three huge jackpots totalling $80,000 will be won by players good enough to win five single-table tournaments in a row.

The Jackpot Hunter’s prizes are:
$50,000 gold jackpot ($55+ buy-in tournaments)
$20,000 silver jackpot ($12 to $54 buy-in tournaments)
$10,000 bronze jackpot ($3 to $11 buy-in tournaments)

There’s only one jackpot at each level so you’ve got to move fast. Once you’ve won five consecutive STTs at a particular buy-in, email your ACCOUNT NAME immediately at jackpot@partypoker.com. If you’re the first person to contact us the jackpot will be yours.

Track down The Jackpot Hunter’s cash now.

Please note:

Players must win five consecutive STTs within the buy-in ranges listed above in order to claim the corresponding jackpot prize (tournaments can be of different game type).

The five consecutive STT wins must be won in the same buy-in level in order to be eligible for a jackpot claim: for example, players cannot claim a jackpot if they win four $11 buy-in tournaments and a fifth $22 buy-in tournament

Only 10-seat STT games are eligible for jackpot claims

Only one jackpot prize is available for each jackpot level: jackpots will be awarded on a first come, first served basis based on who sent the confirmation mailer the earliest

Players may claim a jackpot prize in more than one jackpot prize level

To make a claim, players must send an email to jackpot@partypoker.com and confirm their ACCOUNT NAME

PartyPoker.com will respond to all claims within 48 hours in order to verify all claims and ensure no fraudulent play has taken place

PartyPoker.com reserves the right to refuse any claim of consecutive wins on the basis of fraudulent play without justification

All clarified winning claims will be paid in full within 48 hours

The “Double or Nothing” Sit & Go’s will not be taken into account

Please read our full terms and conditions

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