Swedish media got a lot fatter off gambling ad revenue in 2017

Swedish media outlets got a whole lot fatter on unauthorized online gambling advertising cash last year, despite efforts by regulators to clamp down on the activity.

Sifo Advertising Measurements and Dagens Media recently released a new analysis of gambling advertising spending in Sweden, which showed overall spending of SEK 5.5b (US$684.5m) in 2017, up significantly from 2016’s SEK 3.8b and a new market record.

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Unilot the next generation in Blockchain gaming platform

In 2016 alone, online gambling generated over $44 billion in revenue, most of the revenue coming from mobile devices. With a projected 5 billion mobile devices and rapid increase in mobile gaming adoption rate, the gambling industry is projected to be worth well over $80 billion by year 2022 and that is for official numbers, we expect a large underground bigger market.

Online gambling industry does come with many challenges. Main challenges being consumer fears of not getting paid or being cheated during game play. Since its inception, online gambling has gone through several dubious practices in 2008 and 2011 specifically around world of online poker.

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New Jersey rails against internet betting crackdown

Members of congress from the Garden State have penned a letter to the US Department of Justice (DOJ) voicing their opposition to any plans by the Trump administration to clampdown on states allowing regulated online betting.

Proponents of a ban on regulated online betting are calling for the introduction of Restoration of America’s Wire Act (RAWA) legislation that would restore the ban in regulated online betting, which has been effectively rendered mute by a DOJ decision made in 2011.

Among the advocates calling for the restoration are casino magnate Sheldon Adelson, who most recently sent a letter to the DOJ in December.

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Portugal Consumer Watchdog Scolds Bank for Blocking Bitcoin-Related Transactions

Shortly after revealing a proposal to tax bitcoin investors to make it fair on traditional investors who have to deal with the government taking one-third of their earnings, Portuguese consumer watchdog DECO has stressed that the country’s banks have “no known legal basis” to block bitcoin-related transactions. As CCN recently reported, the Portuguese branch of Spanish bank Santander, Banco Santander Totta, is halting bitcoin-related transactions while claiming cryptocurrency exchanges are transacting in non-regulated financial products.

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World's first legal framework for blockchain in Malta

In the coming weeks Malta is launching the world’s first legal framework for the creation of a body to regulate Blockchain, Artificial Intelligence, and IOT devices.

Parliamentary Secretary Silvio Schembri announced at the Unlock Blockchain conference in Dubai that the government had worked closely with the industry to come up with a legal framework that satisfies the AML and KYC regulations, without stifling technology innovation.

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