iGaming Business – Betfair has sold its 50% stake in Betfair Australia to casino operator Crown Resorts, the online gaming company’s partner in the joint venture. Formed in 2004 by Betfair and Crown, Betfair Australia offers various services to players in the Australasia region. Earlier this year, iGaming Business reported that Crown was set to complete a buy-out of the business. Under the now-confirmed agreement, Betfair will continue to provide Crown with its betting exchange in Australasia under a new business-to-business model. The online gambling firm will also receive a share of revenues generated by the change in markets within…

iGaming Business – Internet payment processor PayPal is set to enter into the regulated online gambling market in the US, according to various media reports. Although the company is yet to make an official announcement in regards to its plans, various reports have said that PayPal will begin processing payments for licensed online poker and casino sites in the regulated US states of Nevada, New Jersey and Delaware in the coming months. PayPal previously announced that it would not process any online gambling transactions, a stance it has so far upheld. The internet payment processor currently has more than 150…

iGaming Business – Online gaming and betting provider mybet Holding has sold its stakes in Spanish companies Digital Distribution Management (DDM) and Digital Distribution Management Iberica (DDMI). The sales come after Sven Ivo Brinck, who was appointed as the sole member of the firm’s management board in late 2013, announced earlier this year that mybet would be realigned. In a statement, Brinck said the decision to sell was based on a number of reasons, including a negative outlook for future profitability of the businesses. “In order to make mybet competitive for the long haul, we implemented numerous measures in recent…

Operator CG Technologies has launched an upgrade to its mobile sports betting app that developers said increases the opportunities for customers to bet on games. CG Technologies CEO Lee Amaitis said the company, which operates race and sports books at eight Las Vegas resorts, generates roughly 60 percent of its wagers from its mobile wagering application. The company has operated mobile sports wagering since 2012 and has some 20,000 registered users. Last year, more than $3.5 billion was wagered in Nevada sports books. Amaitis expects the upgraded application, which was softly launched last week, to grow the company’s percentage of…

The internet has always been a catalyst for change…. but Bitcoin betting? Well, you needn’t look past any industry to see the effect it has had in bringing change about. Television has been revolutionized by web-based players, the music industry has had a complete overhaul to deal with downloads and now we are starting to see the emergence of Bitcoins. So what is a Bitcoin? A Bitcoin is a virtual currency used to procure products and services online via a peer-to-peer marketplace – effectively circumnavigating a centralized bank. This direct marketplace between producer and client helps to diminish financial costs…

iGaming Business – Online gaming operator 32Red has completed the re-launch of its sports betting platform 32Red Sport in time for this summer’s Fifa World Cup national team football tournament. The sports betting platform will be fully managed by Kambi Group after 32Red struck a deal with the sports betting services business-to-business supplier earlier this year. According to the SBCNews.com website, the re-launched service will target new and existing sports betting customers with a range of special World Cup promotions. The new product will also be promoted through 32Red’s sponsorship of Scottish Championship second-tier football club Rangers. Ed Ware, chief…