Economy
Australian Sportsbook Fined for Targeting Problem Gambler
Newly launched Betr, an Australian online casino, and sportsbook has been found to have violated the Northern Territory online gambling code of conduct by targeting a self-excluded problem gambler. Despite being on the Northern Territory self-exclusion register, the player, known as Mr. M, was contacted by Betr via phone and text message, offering him the opportunity to open a new account on their site for the upcoming Melbourne Cup. As a result of this breach, the Northern Territory Racing Commission has fined Betr a sum of AU$ 20,655.
The story was heard nationwide, and countless anti-gambling advocates had their say. The CEO of the Alliance for Gambling Reform, Carol Bennett, urged officials to pull the green light on the national self-exclusion register.
The national self-exclusion register was developed and legislated to prevent these types of problems from happening, and it should have been implemented years ago. Bennett also added that the federal government should prioritize implementation as soon as possible to protect problem gamblers better.
Northern Territory Self-Exclusion Register
The NT self-exclusion register allows every player from Australia to self-exclude themselves from every gambling site that is licensed by the Northern Territory. The exclusion period can last days, weeks, months, years, or indefinitely.
Because Betr is licensed by NT, they also have to follow and stick to every rule and regulation that the NT requires. The NT gambling code of conduct is pretty clear that all players who voluntarily self-excluded shouldn’t be contacted by gambling operators, no matter what type of material they are promoting.
According to the NT Racing Commission, Betr has access to the complete list of players who are part of the self-exclusion register, and records show that they received this list. Initially, Betr did not comment on the case when it first came to light. However, there are reports suggesting that the two representatives from Betr who contacted Mr. M used outdated documents that did not reflect the player’s current status on the self-exclusion register.
The Breach
Reportedly, representatives from Betr contacted Mr. M between October 5th and October 10th. It is worth noting that Betr had only launched shortly before these calls and text messages were sent, which suggests that their representatives may not have had access to the full customer database that includes self-excluded players at the time. The aftermath of this incident saw officials of Betr contact all of its representatives and staff to specifically tell them to do clear checks of the database and verify that the customer isn’t on the self-exclusion register before sending any promotional material.
The Northern Territory Racing Commission released a statement indicating that, while Betr may be a newly established online gambling platform, its senior managers and staff members are not new to the iGaming industry. The CEO of Betr, Andrew Menz, previously served as the CEO of BetEasy and therefore has significant experience in the field and knowledge of the regulations and guidelines set by the commission for obtaining a license.
The Commission also added that the lack of leadership was the main problem, and even though with years of experience in the field, senior management somehow allowed employees to contact players without even considering they might be on the self-exclusion register’s list.
The Nation Self-Exclusion Register
Australian gamblers have been eagerly anticipating the implementation of the National self-exclusion register for nearly four years. The register was a component of the National Consumer Protection Framework for Online Wagering, which was legislated by the federal government in 2019. The responsibility for launching the register falls to the Australian Communications and Media Authority, but they have only made an announcement about BetStop and haven’t made much progress since then.
Final Thoughts
There have been additional instances of online bookmakers and casinos sending promotional material to players who have already self-excluded in the Northern Territory, as reported by the Alliance of Gambling Reform. They argue that the implementation of the national self-exclusion register should be a minimum measure taken by the government to prevent such incidents, similar to the case of Mr. M.
But, Communication Minister Michelle Rowland has emphasized that thorough security evaluations must be carried out before the National Self-Exclusion Register may go live. With over 100 Australian online casinos and sportsbooks sending millions of customer details to the register, adequate cybersecurity and data protection is critical for the safety and security of personal and banking information. It remains to be seen whether the essential steps will be implemented.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), commonly known as petrol, has been cut down by N50 to N1,125 per litre from N1,175 per litre by Dangote Petroleum Refinery.
The refinery confirmed this development via a statement on Thursday to newsmen.
Dangote Refinery described this downward review of the product’s price as a reflection of its ongoing commitment to ensuring price stability, improving affordability, and supporting Nigeria’s energy security objectives.
It further said it underscores its responsiveness to prevailing market conditions and its efforts to pass on cost efficiencies to downstream partners and consumers.
In the statement, the company said it remains focused on its broader mission of contributing to economic growth, enhancing fuel availability, and fostering a more competitive and sustainable petroleum sector in Nigeria.
By Adedapo Adesanya
Crude oil prices rose more than 2 per cent on Thursday after a cargo vessel was hit by an unknown projectile near Oman, putting an evacuation effort for ships from the key Strait of Hormuz on hold.
Brent futures gained $1.52 or 2.1 per cent to settle at $75.26 a barrel, while the US West Texas Intermediate (WTI) crude chalked up $1.58 or 2.3 per cent to trade at $71.92 per barrel.
The flow of oil and gas has been disrupted since the joint US-Israeli attacks on Iran at the end of February, but the agreement between the US and Iran to end the war has allowed the resumption of traffic through the crucial strait.
The United Nations International Maritime Organisation on Thursday paused its effort to shepherd ships and seafarers through the strait after the cargo ship reported a suspected attack. This reawakened concerns about the worldwide flow of oil.
Reuters reported that Iran fired on the cargo ship as it attempted to pass through the strait after Iranian authorities said the security of vessels passing outside designated Hormuz routes is not guaranteed.
Previously, crude shipments through the strait rose to their highest since the start of the war on Wednesday. Before the war, about 20 per cent of world oil supplies passed through the Strait, located between Iran and Oman.
Key fuel oil producers Iraq, Saudi Arabia, and Oman have moved to increase shipments from ports outside the Persian Gulf. Middle Eastern fuel oil exports are set to jump by 20 per cent from May to about 508,000 barrels per day in June.
US Secretary of State Marco Rubio told Gulf allies on Thursday that any deal with Iran would take their interests into account, as he wrapped up a Middle East trip aimed at winning over regional partners with deep reservations about the preliminary accord.
The US and the six-member Gulf Cooperation Council (GCC) said a lasting peace would mean addressing Iran’s ballistic missiles, drones and support for proxy groups. However, the US also threatened that if Iran threatens or blocks ships in the strait, there will be a “problem.”
The Wall Street Journal reported that Iran estimates charging for security, safety and environmental services in the strait, which would bring in $40 billion a year for the states involved.
In Venezuela, thousands were feared dead after two powerful earthquakes affected the capital, Caracas. The quakes could slow the increase in Venezuelan oil exports expected by US President Donald Trump’s administration after it captured Venezuela’s President Nicolas Maduro in January.
By Adedapo Adesanya
The Eggs Sellers and Distributors Association of Nigeria (ESDAN) has kicked against the proposed plan involving the production of egg powder to tackle the glut of eggs.
The National President of ESDAN, Mrs Olaide Graham, made the position clear in an interview with the News Agency of Nigeria (NAN) this week.
Egg glut occurs when egg production exceeds consumer demand, resulting in a surplus that often forces farmers to sell at reduced prices to avoid spoilage.
The Lagos State Government recently announced plans to establish an egg powder processing facility as part of efforts to address seasonal egg glut in the poultry sector.
Mrs Graham described the initiative as a welcome development but maintained that it would not address the fundamental challenges facing the industry.
“The establishment of an egg powder factory in Lagos to address the egg glut situation will have a positive impact if it is properly implemented and the product meets market standards.
“It could help reduce waste and, to some extent, stabilise prices temporarily.
“However, egg powder may not be widely accepted as a substitute for fresh eggs in this part of the country because of differences in taste, texture and consumer perception.
“Many consumers still regard fresh eggs as more nutritious,” she said.
According to her, the major issue is identifying and addressing the root causes of the egg glut rather than focusing solely on processing surplus eggs.
“We have a population of over 200 million people. Why should there be an egg glut?
“We need to examine what farmers, distributors and other stakeholders are not getting right and provide the necessary support.
“Egg powder is not the cure for egg glut in Nigeria. Stakeholders should come together to identify sustainable solutions,” she said.
Mrs Graham noted that egg powder could serve as a raw material for the production of other goods, but should not be viewed as a long-term remedy for the challenge.
She emphasised the need for improved distribution systems across the egg value chain.
“Effective distribution can go a long way in addressing the problem.
“We should remember that Lagos distributes not only eggs produced within the state but also eggs brought in from other parts of the country.
“In every challenge, there is always a solution, but egg powder is not the major solution to egg glut,” she said.
The ESDAN president also dismissed concerns that egg distributors could be negatively affected by the proposed factory.
“Distributors have nothing to fear because Nigerians are accustomed to consuming fresh eggs.
“The number of consumers who will continue to prefer fresh eggs will still be higher.
“Even if egg powder production affects access to fresh eggs, there will still be ways to address that challenge.“If the purpose of producing egg powder is to reduce glut, then that is why distributors have joined the conversation,” she said, according to the news agency.
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