Withdraw Archives - Keno Wizard https://kenowizard.com/tag/withdraw/ The Ultimate Keno Destination for Odds, Tips & Tricks Fri, 15 Mar 2024 09:23:16 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://i0.wp.com/kenowizard.com/wp-content/uploads/2023/02/cropped-keno-wizard-icon.png?fit=32%2C32&ssl=1 Withdraw Archives - Keno Wizard https://kenowizard.com/tag/withdraw/ 32 32 230792155 LeoVegas Receives Order to Withdraw BetUK Radio Advert https://kenowizard.com/2024/03/15/leovegas-receives-order-to-withdraw-betuk-radio-advert/ https://kenowizard.com/2024/03/15/leovegas-receives-order-to-withdraw-betuk-radio-advert/#respond Fri, 15 Mar 2024 09:23:16 +0000 https://kenowizard.com/2024/03/15/leovegas-receives-order-to-withdraw-betuk-radio-advert/ LeoVegas, the international operator of online casinos and sports betting websites, has been ordered by the United Kingdom Advertising Standards Authority to withdraw one of its radio advertisements for BetUK, an online sports betting brand. The Advertising Standards Authority ruled that the respective advert was “irresponsible” and that it could appeal to children. The advert [...]

The post LeoVegas Receives Order to Withdraw BetUK Radio Advert appeared first on Keno Wizard.

]]>

leovegas_ordered_to_withdraw_irresponsible_betuk_radio_advertLeoVegas, the international operator of online casinos and sports betting websites, has been ordered by the United Kingdom Advertising Standards Authority to withdraw one of its radio advertisements for BetUK, an online sports betting brand.

The Advertising Standards Authority ruled that the respective advert was “irresponsible” and that it could appeal to children. The advert aired in September 2023 and it featured Adebayo Akinfenwa, a retired football player, who spoke about his role as a brand ambassador for BetUK.

However, in the advert in question Akinfenwa encouraged players to gamble responsibly and also made them aware of the various safer gambling tools available on BetUK, including deposit limits, the possibility of setting time-outs and scheduling reality checks.

The Advertising Standards Authority received just one complaint regarding the advertisement’s possible appeal to children. The respective complaint underlined that the presence of a former football player in the advert could present a strong appeal to children and that would put the advert in breach of the BCAP Code.

LeoVegas Rejects Complaint

The online casino and sports betting operator responded to the complaint by saying that it doesn’t believe the advert appeals to children. LeoVegas and BetUK underlined that Adebayo Akinfenwa is now aged 41 and has retired from football for some time, so it is quite unlikely that he is popular with today’s children.

Moreover, LeoVegas and BetUK pointed out that Akinfenwa was not a huge football star back in the day, he spent most of his career in the lower leagues of English football and not in the Premier League. That makes any potential for appeal to children even lower.

Adebayo Akinfenwa does have a clothing range which made him known outside of the world of football but BetUK underlined that it does not include any products for children, so there shouldn’t be any problem there either.

When looking at the social media accounts associated with Akinfenwa, BetUK pointed out that just 8 percent of his total followers on Instagram were under the age of 18, while on Snapchat the percentage went up to 18 percent.

The sports betting operator also underlined that the advert did not feature any content that would normally be associated with children or a childish tone. Moreover, it was played during a radio show that is targeting an adult audience. Radiocentre, the commercial body for United Kingdom radio stations, decided to support BetUK in this case.

Despite the response, the Advertising Standards Authority decided to uphold the complaint because it was found in breach of the BCAP Code, which states that adverts for gambling products must not be likely to be of strong appeal to children or young persons.

Source: “LeoVegas ordered to withdraw “irresponsible” BetUK radio advert“. iGaming Business. March 13, 2024.

The post LeoVegas Receives Order to Withdraw BetUK Radio Advert appeared first on Keno Wizard.

]]>
https://kenowizard.com/2024/03/15/leovegas-receives-order-to-withdraw-betuk-radio-advert/feed/ 0 6984
Regulatory Pressure Forces VGW to Withdraw Social Casinos from Michigan https://kenowizard.com/2023/11/01/regulatory-pressure-forces-vgw-to-withdraw-social-casinos-from-michigan/ https://kenowizard.com/2023/11/01/regulatory-pressure-forces-vgw-to-withdraw-social-casinos-from-michigan/#respond Wed, 01 Nov 2023 06:03:00 +0000 https://kenowizard.com/2023/11/01/regulatory-pressure-forces-vgw-to-withdraw-social-casinos-from-michigan/ Prominent social casino operator Virtual Gaming Worlds (VGW) has announced its decision to pull out of the Michigan market. The move follows a series of regulatory crackdowns on unlicensed gambling operations, ultimately forcing VGW to discontinue its popular social gaming brands, including Chumba Casino, Global Poker, and Luckyland Slots, in Michigan. Social Casinos Thrive Despite [...]

The post Regulatory Pressure Forces VGW to Withdraw Social Casinos from Michigan appeared first on Keno Wizard.

]]>

Prominent social casino operator Virtual Gaming Worlds (VGW) has announced its decision to pull out of the Michigan market. The move follows a series of regulatory crackdowns on unlicensed gambling operations, ultimately forcing VGW to discontinue its popular social gaming brands, including Chumba Casino, Global Poker, and Luckyland Slots, in Michigan.

Social Casinos Thrive Despite Regulatory Challenges

Social casinos, a growing trend in states where real-money online casinos are not yet legalized, offer players a similar gaming experience without dealing in actual US dollars. Instead, these platforms use their own digital currencies, providing players with the opportunity to win genuine prizes. Despite the absence of real money transactions, the allure of tangible rewards has attracted a substantial user base to these platforms.

VGW’s official statement regarding its withdrawal from Michigan read: “VGW continually evaluates their business operations in the interests of all their stakeholders, and after careful consideration, they have decided to take this course of action.”

VGW’s decision comes in the wake of an order by Michigan Attorney General Dana Nessel, who directed Golden Hearts Games to halt its operations in the state after a thorough two-year investigation. The move reflects the state’s commitment to cracking down on unlicensed gambling establishments, emphasizing the importance of consumer protection and adherence to gaming laws.

Michigan Players Race Against Clock as VGW Ends Social Casino Funding Options

Players in Michigan have until November 1 to purchase digital currencies on VGW’s platforms. After this date, funding options will cease, leaving players with existing balances the opportunity to utilize them until December 1. Furthermore, players have until February 1, 2024, to redeem any available prizes on the sites. VGW has assured players that their personal data will be handled in accordance with the company’s privacy policy, emphasizing their commitment to data protection and privacy.

This unexpected exit from the Michigan market highlights the rapidly changing landscape of online gambling in the United States. While social casinos have provided a viable alternative in states without legalized online gambling, the growing trend toward regulation and legalization of real-money online casinos raises concerns about the future of these platforms.

As more states consider legalizing online gambling, social casinos, once considered a secure option, face increasing uncertainty. Meanwhile, in June, Michigan’s licensed iGaming and online sports betting operators generated a total revenue of $169.3 million, experiencing an 8.9% decrease due to a significant drop in sports betting caused by the absence of major sporting events, leading to a 21% decrease in handle.

Despite the decline, online casinos earned $151 million, and online sports betting brought in $18.3 million. Michigan has 15 legal online gambling and sports betting operators, and the Michigan Gaming Control Board anticipates receiving nearly $51 million in funding for 2024 to support its regulatory efforts.

The post Regulatory Pressure Forces VGW to Withdraw Social Casinos from Michigan appeared first on Keno Wizard.

]]>
https://kenowizard.com/2023/11/01/regulatory-pressure-forces-vgw-to-withdraw-social-casinos-from-michigan/feed/ 0 5543
Entain, Superbet Withdraw Interest in Slovenia’s Sports Lottery https://kenowizard.com/2023/07/05/entain-superbet-withdraw-interest-in-slovenias-sports-lottery/ https://kenowizard.com/2023/07/05/entain-superbet-withdraw-interest-in-slovenias-sports-lottery/#respond Wed, 05 Jul 2023 20:35:07 +0000 https://kenowizard.com/2023/07/05/entain-superbet-withdraw-interest-in-slovenias-sports-lottery/ The saga of the sale of Slovenia’s Sports Lottery has come to a sudden end after both candidates to acquire a stake, Entain and Superbet, withdrew their applications. Purchase Applications Withdrawn Slovenia’s Ministry of Finance announced that negotiations for the acquisition of a major stake in the state-run sports betting operator, Sports Lottery (Športna Loterija) [...]

The post Entain, Superbet Withdraw Interest in Slovenia’s Sports Lottery appeared first on Keno Wizard.

]]>

The saga of the sale of Slovenia’s Sports Lottery has come to a sudden end after both candidates to acquire a stake, Entain and Superbet, withdrew their applications.

Purchase Applications Withdrawn

Slovenia’s Ministry of Finance announced that negotiations for the acquisition of a major stake in the state-run sports betting operator, Sports Lottery (Športna Loterija) have been stopped as both candidates, global gambling group Entain and Romanian-based casino group Superbet, decided to withdraw.

“We can confirm that, after weighing the opportunities, Entain has decided not to continue the process for the purchase of a stake in Sports Lottery for the time being,” the gambling operator responded to media requests for comments without providing further details and refusing to comment on possible entry in the Slovenian market in the future.

For the past few weeks, the three organizations holding a majority stake of 57% in Sports Lottery, the Olympic Committee of Slovenia, the Football Association of Slovenia and the Skiing Association of Slovenia, have been pushing for the sale due to concerns related to the opening of the sports betting market in the country.

Reports circulated that the FTSE100-listed gambling group was looking to enter the domestic sports betting market and offered to pay between €50 million ($54.5 million) and €60 million ($65.4 million) for Sports Lottery, bidding in partnership with some rich businessmen from the Czech Republic.

Commitment to Supporting Slovenian Sport

The price offered by Entain was found sufficient by one of the three organizations running Slovenian sport, the Olympic Committee of Slovenia, but it insisted that the future buyer of the stake in Sports Lottery should commit to providing financial support for the development of the sport in Slovenia.

While sharing the same concern with the state representatives leading the negotiations, the Olympic Committee also said it would give up the sale if the state commits to maintaining the monopoly of Sports Lottery in the sports betting market.

The other candidate, the operator of land-based casinos in ten European countries, Superbet, reportedly was ready to pay slightly more than Entain to acquire the stake in the state-owned sports betting operator.

Last month, the owner of Ladbrokes and Coral agreed to acquire Polish sports betting company STS Holding in a deal worth £750 million ($952.5 million) after the bid was approved by the company’s two largest shareholders with a collective stake of 70%, Mateusz Juroszek and Zbigniew Juroszek.

Just days after the deal was announced, the acquisition was called “destructive” in an open letter to the board by the owner of 13.2 million shares in Entain, the New York-based investment firm, Eminence Capital.

The post Entain, Superbet Withdraw Interest in Slovenia’s Sports Lottery appeared first on Keno Wizard.

]]>
https://kenowizard.com/2023/07/05/entain-superbet-withdraw-interest-in-slovenias-sports-lottery/feed/ 0 3974