“The best advice is to think of what you’re able to offer which your competition doesn’t” – Alex Tester

The political landscape in the United Kingdom has been rocked by a gambling scandal that has further eroded public trust in politicians. This controversy, which has embroiled both the Conservative and Labour parties, has drawn parallels with previous scandals such as Partygate and the expenses scandal, reinforcing the perception of a double standard in the rules governing politicians and the public.

Five weeks ago, the Conservatives launched their election campaign amidst challenging circumstances: they were trailing by 20 points in the polls and had seen four prime ministers in five years. However, the situation worsened when on 12 June, The Guardian reported that Craig Williams, Rishi Sunak’s closest parliamentary aide, was under investigation by the Gambling Commission for betting on a July election three days before it was announced.

The scandal has since widened to include at least four more Tories, six police officers, and one Labour candidate. The allegations revolve around the use of insider information to place bets, a practice that is not only unethical but potentially illegal. : its simplicity makes it easy for the public to understand, and it reinforces the perception that politicians operate outside the rules they set for others.

Michael Gove, the outgoing levelling up secretary, drew parallels between this scandal and the Partygate scandal, which severely damaged Boris Johnson’s government and eventually led to its collapse. He noted that the perception of politicians operating outside the rules was damaging during the Partygate scandal and is equally damaging now.

This scandal also bears similarities to the expenses scandal, which severely undermined public trust by creating the impression that politicians were not adhering to the rules they imposed on others. Like the Partygate and expenses scandals, the gambling scandal has been impossible to ignore due to the constant stream of damaging revelations.

A week after The Guardian’s story on Williams, the BBC reported that Tory candidate Laura Saunders and her husband, Tony Lee, the party’s director of campaigning, . The broadcaster also revealed that a police officer working in the prime minister’s close protection team had been arrested following an allegation of bets on the timing of the election. This revelation established that the scandal extended beyond a single individual.

The controversy deepened further when The Sunday Times reported that Nick Mason, the Conservative party’s head of data, was being investigated by the gambling watchdog over claims he had placed dozens of small bets that would have won him thousands of pounds cumulatively. He has denied any wrongdoing.

On Tuesday, the Metropolitan police announced that five more police officers were being investigated in relation to suspect bets on the date of the election. Shortly afterwards, A fifth Tory, Russell George, was also under investigation.

The Conservatives initially , much like they did with Partygate. However, as more Tories were implicated, they were forced to take stronger action. Sunak expressed his disappointment in Williams’s actions and later his anger as more Tories were implicated. Finally, after a week of attempting to weather the scandal, the prime minister withdrew support from Williams and Saunders and launched an internal inquiry.

The surprise news that a Labour candidate, Kevin Craig, is now under investigation by the gambling watchdog may take some of the sting out of Keir Starmer’s attacks. Craig was swiftly suspended as a candidate by Labour and is understood to be under investigation for betting that he would lose the race in his safe Tory seat, rather than acting on any insider information.

This scandal demonstrates that the investigation’s remit has widened significantly and will prompt a much larger conversation about political betting. In the US, a top Wall Street regulator is moving to ban betting on American elections, and there have already been calls for the UK to consider similar measures.

However, this will be a question for after the election. For the next prime minister, improving standards in politics and rebuilding public trust in politicians will need to be a priority. This scandal serves as a stark reminder of the importance of transparency, accountability, and ethical conduct in politics.

Sir Jim Ratcliffe, a prominent British industrialist, shared his candid views on the UK’s political and economic landscape. Ratcliffe expressed his disapproval of the non-domiciled tax status, a policy he believes is unwise to discard given the significant economic contributions of London’s wealthy residents. He emphasized the importance of retaining such individuals to maintain the city’s financial health.

Ratcliffesuggesting that such initiatives could attract substantial economic interest.

When asked about the current state of the UK and its political climate, Ratcliffe noted the Conservative Party’s lengthy tenure and the series of less-than-successful prime ministers it has produced. He conveyed a sense that the UK populace is ready for a change in leadership, hinting at a general fatigue with the current administration.

Discussing the Labour Party, Ratcliffe mentioned having met its leader, Keir Starmer, and described him as sensible and intelligent. He speculated that Starmer might have to make some unpopular decisions to address the nation’s challenges effectively.

Ratcliffe criticized the government’s handling of Brexit and its overall management of the economy, particularly the allocation of the country’s £2 trillion GDP. He argued that the government’s expenditure of £1 trillion indicates a need for more prudent spending, as it is the public’s money at stake.

The industrialist highlighted the UK’s infrastructure woes, citing outdated sewage systems and the privatization of water utilities as examples of mismanagement. He called for stricter regulations and consequences for utility companies that fail to invest in necessary upgrades.

On immigration, Ratcliffe pointed out the lack of a coherent strategy to address the influx of 500,000 people into the UK last year, which strains the country’s infrastructure. He emphasized the need for a sustainable approach to immigration that considers the capacity of the nation’s infrastructure.

Ratcliffe suggested that the Labour Party, under Starmer’s leadership, might bring about the changes needed to address these issues. However, he acknowledged that only time would reveal the effectiveness of such potential leadership. Ratcliffe himself dismissed any personal political ambitions, citing his lack of political correctness and wokeness as barriers to entry. He stressed the importance of making difficult decisions, even if unpopular, to steer the country in the right direction.

 Summit powered by Soft2Bet, will take place in Budapest from 2-4 September 2024.

The DC Council has approved its fiscal year 2025, which includes provisions aimed at opening up the digital sports betting market to multiple operators, thereby breaking the monopoly currently held by FanDuel. The budget now awaits approval from Mayor Muriel Bowser.

Until now, FanDuel has been the sole operator of digital sports betting in the District, having taken over from GambetDC earlier this year.

Under the new framework, established operators like BetMGM and Caesars Sportsbook, which already have physical sportsbooks in partnership with local venues such as Nationals Park and Capital One Arena, are expected to expand their digital offerings.

One of the architects behind these changes is Councilmember Kenyan McDuffie, who championed the Sports Wagering Amendment Act of 2024. McDuffie’s initiative, included in the budget, mandates that sports betting operators must partner with one of the seven professional DC sports teams. This provision is partly aimed at supporting local sports organisations, including women’s sports teams, which could benefit significantly from increased investment. The other requirements include companies being licensed and operational in at least five US jurisdictions and paying a $2 million application fee for a five-year license.

The decision to open up the market was not without its challenges and discussions.

Concerns were raised regarding the potential impact on small businesses that currently host sports betting kiosks and depend on these revenues. In response, McDuffie successfully added an amendment to protect their interests in the soon evolving market landscape.

Supporters argued that by attracting multiple operators, the city stands to benefit from increased tax revenues and job creation, while consumers can expect better odds, promotions, and overall service quality.

FanDuel, which had been operating under a subcontract with Intralot, will face new competitive pressures under the revised framework. The company had previously expressed its intention to withdraw from its lottery deal should the market open up to other operators.

Industry reactions to the budget approval have been largely positive, with stakeholders applauding the Council’s decision to embrace competition and consumer choice. Representatives from major operators like DraftKings and Fanatics Sportsbook have expressed interest in entering the DC market.

DraftKings stated: “We want to thank Chairman Mendelson, Chairman McDuffie, and the rest of the DC Council for taking a major step towards expanding mobile sports betting options in the District by approving changes to the District’s sports wagering framework as part of the Budget Support Act. We look forward to the potential opportunity to introduce DC sports fans to our mobile sportsbook product.”

Looking ahead, the implementation of the new sports betting rules is contingent upon final approval from Mayor Muriel Bowser. If approved, the budget is scheduled to take effect on July 15, marking the beginning of a new era for sports betting in the nation’s capital.

Upcoming SiGMA event: Click  to find out all about SiGMA East Europe powered by Soft2Bet happening in Budapest, September 2024.

The expansion of the gambling industry in North Carolina has ignited a fierce debate, marked by intense lobbying, substantial political donations, and strategic manoeuvring. A new report, based on state and federal disclosures, alleges that the gambling industry has contributed approximately $3 million to influence legislative decisions.

In 2021, North Carolina introduced retail sports betting, followed by . Three years later, the debate focuses on the potential establishment of new casinos, which has intensified lobbying efforts and increased political donations.

A , a political analyst and former executive director of , a nonpartisan organisation that aims to strengthen democratic structures, reveals the extensive financial influence of gambling interests in the state. According to Hall, between January 2022 and March 2024, the gambling sector donated over $3 million to North Carolina candidates and allied committees supporting their re-election campaigns.

Key players in the gaming industry have allegedly made substantial contributions. For instance, The Cordish Companies, developers of a proposed casino in Rockingham County, North Carolina, donated $50,000, according to Bob Hall’s analysis of state and federal reports. Bob Hall also states that Grover Gaming, a major video poker machine vendor based in Greenville, NC, contributed $635,850.

The distribution of these funds heavily favours Republican candidates and affiliated committees who align with the industry's interests and policies. Hall's report states that $2.1 million was donated to two federal committees. These committees subsequently supplied 90% of the funding for "Citizens for a Better North Carolina", another committee overseen by Senator Phil Berger, whose primary activity is to fund political campaigns.

The expansion of gambling activities in North Carolina has sparked both support and opposition. Critics, such as anti-gambling organisations and concerned citizens, raise alarms about the potential social and criminal consequences. The North Carolina Sheriffs' Association has specifically warned about possible rises in crime associated with gambling.

They also argue that the tax revenue from the gambling industry, often highlighted by advocates for expansion, ultimately originates from economically disadvantaged individuals who finance these companies through their wagers.

However, supporters of the expansion argue that the revenue generated from gambling could be earmarked for law enforcement, potentially mitigating these concerns and providing additional resources for public safety initiatives.

 Summit powered by Soft2Bet, will take place in Budapest from 2-4 September 2024.

The Juroszek family, known for their former majority ownership of STS Holdings, has recently increased their stake in the Gaming Innovation Group (GiG) to 25.06 percent. This strategic move marks a .

The shares are distributed among various entities controlled by the Juroszek family. These include MJ Foundation Fundacja Rodzinna, ZJ Foundation, Betplay Capital Sp. z o.o., Betplay Capital Foundation, Juroszek Holding Sp. z o.o., and MJ Investments Sp. z o.o. Collectively, these entities now own a total of 33,722,302 shares in GiG, representing approximately 25.06 percent of the total registered share capital and voting rights in the company.

The transaction was initiated by MJ Foundation, a company related to Mateusz Juroszek, a primary insider and Board Member of GiG. The foundation agreed to purchase 6,069,375 shares in GiG at a price of SEK 27.00 per share. Following this transaction, MJ Foundation now holds 11,088,810 shares, representing approximately 8.24% of the total registered share capital and voting rights in GiG.

Mateusz Juroszek, (picutred on left, above), expressed his family’s long-standing involvement in GiG, stating, “GiG is one of the most attractive and interesting iGaming companies on the public market. We see great potential in this company and in the industries in which it operates. As a family, we should be the ones to stand up and show our commitment – we want to be the biggest shareholders as we believe in the businesses.”

The Juroszek family’s representation in the company’s top management is evident through Mateusz Juroszek’s board seat on the recently rebranded Gentoo Media arm. His brother, Tomasz Juroszek, is also a board member of the sportsbook & platform division.

The shares were partly purchased from New Zealand casino group SkyCity Holdings, which sold its 10 percent share in GiG to the Juroszek family. SkyCity stated that the proceeds of the sale, totaling $55 million after brokerage and legal costs, would be used to pay down debt as part of its ongoing prudent approach to capital management.

SkyCity with GiG through its involvement with the SkyCity Online Casino, operated from Malta. However, it decided to divest its shareholding in GiG as it is non-core to its ongoing operations and is now not considered strategically necessary for SkyCity.

The Juroszek family became the largest GiG shareholders in July 2023 after purchasing an 11.08 percent stake in the business, which they considered undervalued. This followed the family selling their 70 percent stake in STS for £750 million in June 2023.

The purchase comes ahead of GiG’s plan to divide its Media and Sportsbook & Platform segments into two separate entities in Q3. As of now, Gaming Innovation Group Inc. (GIGSEK.ST) is trading at SEK28.80, marking a 1.05 percent increase.

The Juroszek family, led by Zbigniew Juroszek, has a rich history and a significant presence in the business world. Zbigniew Juroszek, with a real-time net worth of $1.7 billion, ranks #1888 on today's global rich list.

Zbigniew Juroszek, 61, (pictured on right, above), is the founder of Atal S.A., a real estate developer listed in Warsaw, Poland. He first established Atal in 1990 as a supplier to clothing manufacturers. However, recognizing the potential in real estate, he shifted his focus and began investing in this sector. His first residential projects were built in 2003, and since then, Atal has been developing properties in Katowice, Warsaw, and other major Polish cities.

Today, Zbigniew Juroszek runs his business with his son, Mateusz Juroszek. significantly contributed to the family’s wealth.

He resides in Cieszyn, Poland, and holds Polish citizenship. His journey from founding Atal as a supplier to clothing manufacturers to becoming a billionaire real estate developer and owner of a successful gambling company is a reflection of his business acumen.

The Juroszek family’s increased stake in GiG and their diverse business interests reflect their strategic vision and commitment to growth in various sectors.Their recent investment in GiG further demonstrates their belief in the potential of the iGaming industry and their commitment to its growth. With their diverse business interests and strategic investments, the Juroszek family is bound to continue making significant impact in the iGaming industry.

 Summit powered by Soft2Bet, will take place in Budapest from 2-4 September 2024.