Man charged for betting on Taiwan election using cryptocurrency

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.

Governor Ron DeSantis of has enacted a new law () that exempts personal information about members of the Florida Gaming Control Commission from public records requests. This legislation, which passed unanimously, aims to protect the personal details of current and former commissioners and their families, including home addresses, telephone numbers, and dates of birth.

Proponents of the bill argue that releasing such information could endanger commission members and their families. They stated: “the release of such personal identifying and location information might place the commission’s current or former commissioners and their family members in danger of physical and emotional harm from disgruntled individuals whose businesses or professional practices have come under the scrutiny of the commission. In addition, such personnel may be subject to threats or acts of revenge because of the duties they perform.”

The Florida Gaming Control Commission was established in 2021. It oversees the state's gambling industry, ensuring compliance with laws and standards. Given the potential contentious nature of gambling regulation, DeSantis argues that commission members could face scrutiny and backlash from industry stakeholders.

Governor DeSantis’s administration has a history of controversial issues surrounding public records and transparency. Florida has a long-standing tradition of granting public access to records and meetings, established by state law and a 1992 constitutional amendment. There is a continual struggle between the imperative for government transparency and Governor DeSantis's desire to safeguard sensitive information and the privacy of public officials.

In a notable case, a court debated a ruling that "executive privilege" exempts DeSantis's administration from releasing certain records. This case originated from a public records request seeking information about individuals involved in discussions regarding the appointment of Florida Supreme Court justices. The “executive privilege” has been contested by media organisations and open-government advocates, who argue that it undermines Florida’s public records law.

More recently, a senior Florida law enforcement official decided to sue DeSantis, claiming he lost his job for whistle-blowing on issues related to public records.

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The UK Labour Party has now also found itself embroiled in a betting scandal, potentially tarnishing its reputation. However, this incident may not necessarily level the playing field in what has been a particularly murky election campaign period.

Kevin Craig is in the race for the MP position in Central Suffolk and North Ipswich. This seat, known to be a Conservative stronghold, was formerly occupied by Dan Poulter. Poulter, an ex-Tory, switched allegiances to Labour before the election but has decided not to run again.

Labour has confirmed the suspension of Kevin Craig (pictured above) from the Labour Party. However, despite this late-stage suspension, his name will still appear on the ballot paper with "Labour" next to it.

Additionally, the party plans to return £100,000 in donations from Craig, which he contributed since Sir Keir Starmer became the leader of Labour.

Posting on X (formely known as Twitter), Craig shared that he had "enjoyed the odd bet for fun" throughout his life,

Labour’s headquarters are undoubtedly in turmoil, but the situation for the The election betting scandal, which initially targeted Rishi Sunak, has now caught up with a Labour candidate. This individual is currently under investigation by the Gambling Commission for his betting activities and has been promptly suspended.

This development might seem to balance out the scandals plaguing both parties, but it’s not that simple. The narrative that all politicians are equally corrupt is an easy one to spin, but the reality might be different. If the allegations are true, the Conservatives face a significantly larger hurdle than Labour.

Kevin Craig of the Labour party was immediately suspended after the Gambling Commission informed the party of the ongoing investigation. It’s reported that Craig placed a bet, not on the election date, but on his own loss in the general election. While this act can be seen as a gross error in judgement, as Craig himself admitted, it’s difficult to argue that he had insider information unless it can be proven that he was intentionally trying to lose.

Although betting scandals in general elections are quite common, it is interesting to note that none were reported in the 2019 UK general election.

The Gambling Commission is under significant pressure this time around and will scrutinize the names of all candidates who placed bets. However, the outcome of this investigation remains uncertain.

The Conservative Party’s betting scandal is more convoluted and has been ongoing for 13 days.

Craig Williams, Rishi Sunak’s closest parliamentary aide and former MP for Montgomeryshire, admitted to betting on the election date, a date he might have had prior knowledge of. He denies any wrongdoing and is still under investigation. Laura Saunders, a Conservative candidate for Bristol North West, was also suspended for betting on the election date while her partner was working at the Conservative headquarters. For most of this period, Sunak maintained that he couldn’t suspend either candidate due to the ongoing Gambling Commission probe. However, under mounting pressure from ministers and opponents, he reversed this decision.

This raises questions about the Prime Minister’s judgement and his reluctance to act, in addition to concerns about the conduct of those close to him. The situation has caused widespread dismay within the cabinet.

Labour’s issues have hampered the Party's ability to counterattack, but it’s unclear whether voters will perceive the two scandals as equivalent.

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