The world of online betting is full of controversies, big win stories and scandals, being an industry that is just fascinating to follow! And, June was far from a quiet month, with betting-related news coming from every corner of the world.
Today, we take a look at the top stories clogging up our newsfeeds during June.
William Hill closes 700 stores
William Hill is one of the founding fathers of betting, being a well-known brand that is well and truly ingrained within the sports betting world. This is why it came as a big shock when it announced it was shutting 700 UK stores, putting 4500 jobs at risk consequently.
This is a direct result of the decline in betting terminal use. Back in April, UK Government reduced the maximum stake on fixed-odds betting terminals to £2. This was a huge reduction, previously permitting bettors to wager up to £100 per session.
Staff lay offs and shop closures are expected to take place towards the end of the year.
"The group will look to apply voluntary redundancy and redeployment measures extensively and will be providing support to all colleagues throughout the process," its statement said.
Paddy Power Founder dies
Sorry but it’s more doom and gloom with this next story. At the end of June, we learnt that Paddy Power’s Co-Founder, John Corcoran, sadly passed away, leaving behind him a huge legacy. Having helped developed one of biggest betting brands of our time, Corcoran was said to be the ‘driving force’ behind the company.
Passing at the age of 89, the tributes flooded in from betting industry figureheads and sportspeople alike.
Paddy Power was created back in 1988 when 40 different betting shops joined forces. These were owned by Stewart Kenny, Power and Corcoran.
Power, whose son Paddy is the well-known frontman of Paddy Power, said: "I think Stewart summed it up to me the other day when we were discussing it when he said 'a life well lived'.
"It was John's idea to start the Paddy Power company and he was the driving force behind the whole concept."
Top five betting sites unite for responsible gambling project
Where most betting sites now feature the ‘Gamble Aware’ badges on their homepage, we do often think just how much they really care about supporting gambling addicts and preventing addictions.
In June, 5 of the biggest betting brands in the world, Bet365, Paddy Power-owner Flutter, Ladbrokes-owner GVC, Sky Betting and Gaming and William Hill, came together to help people addicted to gambling.
This meeting of minds came about after long discussions with the Department for Digital, Culture, Media and Sport (DCMS). Now, the five betting sites have agreed to all pledge additional finances into safe gambling projects, giving 0.1% of their gross gambling yield to the cause. This loosely translates to £60 million in funding support from the five brands by 2023.
Peter Jackson, chief executive officer of Flutter, said: "This is an unprecedented level of commitment and collaboration by the leading companies in the British betting and gaming sector to address gambling-related harm and promote safer gambling.
"The whistle-to-whistle advertising ban was a good start, now we are funding a significant expansion in treatment and we continue to work on a number of areas of collaboration and best practice.
"Our aim is nothing less than a step change in how we tackle gambling-related harm."
Jeremy Wright, Secretary of State for Digital, Culture, Media and Sport, said: “The gambling industry has a responsibility to tackle problem gambling and contribute to the cost of treatment to rebuild the lives of those affected.
"I welcome the commitments of five leading gambling operators today to significantly increase the funding they provide. We will monitor closely the progress of these new measures and encourage the wider industry to step up.
"The Government will not hesitate to take further action to protect people from gambling related harm."
Betting and Gaming Council to launch in the Autumn
In the betting industry, there are many leading authorities and betting governing bodies, all working hard to make online betting sites operate in an ethical manner whilst providing entertaining betting opportunities.
In June, the arrival of a new betting council was announced, with the Betting and Gaming Council set to come into power this autumn. With a mission to ‘provide a voice for the sector’, memberships will be open to all operators with a UK. licence. The council will cover 90% of the betting industry except from lotteries, focusing on online and retail gambling.
When operational, the Council will take over the functions of the Remote Gambling Association (RGA) and the Association of British Bookmakers (ABB), incorporating them into their work.
It has also been announced that the organisation will be chaired by Brigid Simmonds, former Gamble Aware trustee and chief executive of the British Beer & Pub Association.
Simmonds said: "The gambling industry is a hugely significant contributor to the leisure industry and to the economy.
"There are, however, critical issues facing the sector and that is why I will ensure that creating a safe gambling environment is the top priority."
So, there you have it, the latest goings on from the world of online betting.