Casino News: Cryptocurrency exchange embezzlement, GGR has grown in the Phillippines and South Africa and more

Cryptocurrency exchange ezBtc accused of embezzling $9.5 million on online gambling

Canadian regulators have charged the exchange's founder David Smillie with using customer funds for online gambling. According to the British Columbia Securities Commission (BCSC), he spent $9.48 million on FortuneJack and CloudBet sites. Smillie was not present at the hearing in person, and his whereabouts is unclear today.

Austrian court orders player to return winnings to illegal iGaming operator

Despite the operator not having a license in Austria, the court sided with the operator, explaining that the player's participation in illegal betting was also a violation. The player deposited €22,000 and by July he had €29,100. However, he will not reimburse the operator for the full amount of €7,152, but will pay the operator's legal costs of €626. This decision came as a surprise, since the courts usually oblige illegal operators to pay out winnings to players.

Expected GGR in South Africa for H1 has grown to $516 million

According to analysis by Blask and NEXT.io, this is 26.8% more than for the same period last year ($407 million). The expected first deposits (eFTD) increased by 15.1% from $8.6 million to $9.9 million. The key players in the South African iGaming market are:

• Betway (with a market share of 42.9%)
• Hollywoodbets (40.2%)
• Lotto Star (9%)
• Supabets (1.5%)
• EasyBet (1%)

In the first half of 2024, the Blask Index* increased by 15.6% to $318 million, compared to $275 million a year earlier. The Blask Index is a quantitative indicator for assessing the iGaming market of different countries and the market share of an individual brand.

Philippines Gambling GGR Reaches $1.56 Billion in Q2

According to the Philippine Amusement and Gaming Corporation (PAGCOR), this represents a 32.3% increase from a year earlier and a 9.21% increase from Q1 2024. The online sector reached $540.8 million, having beaten its targets, and is set to recoup the decline caused by the ban on offshore POGO operations by the end of the year.

PAGCOR CEO Alejandro H. Tengco noted: The online segment grew an impressive 525% from a record $86.4 million in the year. Licensed casinos contributed the most to the GGR ($867.3 million), despite declining by about 4% year-on-year. Casinos operated by PAGCOR called Casino Filipino generated $73.6 million, down 14.8% year-on-year.

Influential Australians demand a complete ban on gambling advertising

More than 60 prominent Australians including politicians, sportsmen and public figures, have called on the government to introduce a ban on gambling advertising within the next three years. This is due to record annual losses of Australians on gambling - about $16 billion which is one of the highest in the world. The Australian regulator has blocked 50 websites and 359 URLs as part of the fight against illegal gambling content.