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Milwaukee Bucks Win NBA Championship

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Milwaukee Bucks NBA Champions

By Adedapo Adesanya

Milwaukee Bucks secured their first NBA championship in 50 years on Wednesday morning against the Phoenix Suns following a 105 – 98 win.

Giannis Antetokounmpo scored 50 points as the Bucks claimed their first NBA title since 1971, landing a 4-2 series win in front of a 20,000 crowd.

They become only the fifth team to win the best-of-seven finals series after losing their first two matches.

The Suns were seeking their first NBA crown in their 53-year history, having also lost the NBA Finals series in 1976 and 1993.

Antetokounmpo, born in Greece with Nigerian ancestry, was the first player to have at least 40 points, 10 rebounds and five blocks in a finals’ game since blocks were first recorded in 1974 and became the seventh player to have at least 50 points in the championship round.

“I’m happy I was able to do it with this team for Milwaukee,” said Antetokounmpo.

It was also the third game in the series in which the 26-year-old has managed at least 40 points and 10 rebounds.

Antetokounmpo matches the feat of Michael Jordan and Hakeem Olajuwon by collecting a regular-season MVP, NBA Finals MVP and NBA defensive player of the year awards.

“I want to thank Milwaukee for believing in me. I want to thank my teammates for playing hard with me,” Antetokounmpo said.

Bucks coach Mike Budenholzer described the Greek forward as “a special human being”.

“I’ve learned so much from him. He’s a special leader,” he said.

He praised the Suns, saying they had great players, a great coach and a great organization and then hailed his team.

“These players, they’re champions every day, Every day they come to the building they are champions.

“They’ve embraced getting better every day, they’ve embraced competing, they’ve embraced playing together. And it’s made them champions tonight. I couldn’t be more proud of them.”

In 1971, the Bucks won the title in their third season behind the standout play of Kareem Abdul-Jabbar (then Lew Alcindor) and Oscar Robertson. They beat the Baltimore Bullets in the final four games to none, winning the final game on the road.

This was the Bucks’ first appearance in the Finals since 1974 and it was the Suns’ third appearance in the Finals, the most recent coming in 1993.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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How Nigeria’s New Tax Rules Could Reshape Sports Betting

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Right Sports Betting Site

As 2024 comes to a gradual end and companies begin to make plans for the new year, the Nigerian sports betting industry is faced with a new year’s resolution which it didn’t make but has been imposed on it by this political administration- the dilemma of withholding tax regulations.

The introduction of this new tax regime could fundamentally alter the sports betting landscape, affecting everything from operator profits to punter behaviour and industry growth.

Once the new regulations come into effect on January 1, 2025, eligible transactions for winnings in i-gaming shall incur applicable rates of 5% for residents and 15% for non-residents.

For Managing Partner, WYS Solicitors & Legal Counsel Africa, Olafadeke Akeju, the fact that i-gaming is largely online means this new tax regime may cause of exodus of customers from licensed operators to illegal remote operators, due to the uncaptured and unprotected nature of the digital space:

“For those who are unlicensed and foreign operators, they will still be able to owe tax to players and offer better odds and better returns because there is no deduction or withholding tax. What this means is that licensed operators will lose customers to the illegal and remote operators, that is the likely implication, as there could be a significant drop in patronage once this withholding tax kicks off.”

Akeju also struggles to understand how this tax would apply to walk-in customers who mostly require age verification but may not require identity verification- especially because this regulation exempts over-the-counter transactions.

Velex Advisory Tax Expert, Jonathan Nwanze is also keen to see how this tax regime would be implemented, but he is more worried about the likelihood that the Tinubu administration, “could be creating a monster asking for remittance without the capacity to check it.”

Nwanze explains that the introduction of withholding tax is not novel, as it occurs in other countries in West Africa like Ghana. However, what makes Nigeria’s exceptional is the timing, investment and the market size:

“It’s not the first time it’s been introduced. However, some of the aforementioned markets cannot be compared to the Nigerian market in terms of size, Nigeria is way bigger. Some are more regulated because of the kind of structure they have. For instance, in Ghana, there are regions, not states and there is one revenue collection body. In Nigeria, we have states, but numerous bodies at various levels of government collect revenue.  I think the government has to invest in a lot of technology. If they are looking at getting a lot out of gaming, there must be investment in infrastructure,” Nwanze told sports and betting news site, SportsBoom.com.

What’s the rush?

Nigeria’s economy has been on a steady decline due to a number of factors including the poor timing of policies. For the implementation of withholding tax, it’s equally symptomatic of poor timing, grey areas and an inherent lack of understanding about the i-gaming ecosystem.

Akeju explains that in order for betting operators to comply with the provisions of the new tax regime, there must be upgrades across the betting platforms and since the software/ platform providers aren’t local, the operators need to get in line for an estimated 6 to 9 months before their platforms are upgraded.

She thinks it’s highly likely that: “we could potentially have a situation whereby on the 1st of January 2025, operators won’t be able to comply due to circumstances beyond their control.”

Apart from playing the waiting game, the cost of upgrading betting platforms equally poses a huge financial burden. Akeju explains that while larger betting operators own their betting platforms, the same cannot be said for smaller operators:

“The platforms which smaller operators use for gaming are owned by third parties with whom they have white label agreements. Hence, implementing the withholding tax right now is going to be a challenge for those operators as it would require them to pay for developers, pay for customization and pay for integration of the platforms to suit the regulation in question.”

An eternal optimist may ask, What about alternative revenue streams? Is there any that betting companies could explore to offset the impact of these new taxes? Akeju makes it clear that the operators are caught between a rock and a hard place- that’s because offering a new product translates to applying for another license for the product in question.

Sadly, the alternative products’ providers are primarily based in Europe, which means more cost would be incurred by the operator in Euros.

Akeju is very concerned about how the smaller operators will keep their customers and while she may not have a universal solution for the Nigerian i-gaming industry as a whole, she may have a potential solution for  bigger operators, but that entails their willingness to assume a sacrificial role by choosing to “absorb this withholding tax on behalf of their players or offer certain bonuses and promotions that could boost winnings so that players do not really feel the effect.”

A misconception & an opportunity

On Friday, November 22, 2024, the Supreme Court nullified the National Lottery Act and scrapped the National Lottery Regulatory Commission (NLRC). During a crucial meeting held days before the judgment, the Director General of the now defunct NLRC, Lanre Gbajabiamila,  made a profound statement about the assumption that the i-gaming industry is a billion-dollar industry:

“How do we know it’s a billion-naira industry? There’s no data to show. Anybody can say it’s worth billions of naira, but until we have proper data, we can’t safely say what the industry is worth.”

Just like Gbajabiamila, this is a perception which Nwanze seeks to correct, and he thinks it may have a lot more to do with this new regulation than we realize:

“The government appears to be keen on generating revenue, but the challenge lies with the timeline – Jan 2025 is not feasible. If you look at best practices as is the case in the UK- there is no collection of withholding tax and that’s because the responsibility of taxes should sit with the company that owns the business. The reason is that the companies make more profit than the players. If you look at the number of losses compared to winnings, you’ll be shocked at how high the former is compared to the latter. In fact, the way the business is structured, it’s from those losses that winnings are paid. I think the government should review its position and opt for more engagement regarding the nature, implementation, application and configuration of this plan.”

Now that the NLRC has been dissolved, there might be an opportunity for states that may choose to opt out of this tax and while the implementation has yet to play out, Nwanze thinks that some states may see exemption as an opportunity to attract more betting companies to their states.

Legal options & absence of meaningful stakeholder engagement

With all the negative hits that the Nigerian i-gaming industry has taken in 2024, is it simply at the mercy of the government policies/ regulations, or could legal options be explored to push back? Akeju explains that “the law is made for man and not vice versa.”

While she is hopeful that the government will do a 180 when it sees the negative impact this tax will have, as was the case in the most regulated market in the world- the UK; she is fearful of Nigeria’s reputation and pace when it comes to repealing laws and regulations.

Akeju recalls attempts made by stakeholders to dialogue with the government on this matter and narrates a scenario which is reminiscent of intentional exclusion until a decision was made:

“The association of Nigerian bookmakers engaged with the presidential committee on fiscal policies and tax reforms. We had a few meetings, but it appeared as though by the time the industry was aware of many of the decisions that were taken by the government, it was at an advanced stage. Now that it has been passed, efforts are still being made for a guidance note to clarify some of the grey areas.”

Akeju and Nwanze make their final appeal by asking the government to focus its taxation efforts on the operators and not the players to make for a more streamlined and better-defined application that is understood by all involved.

Conclusion

As Nigeria’s sports betting industry braces for the 2025 withholding tax storm, both legal and tax experts sound a unified alarm: taxing players instead of operators could backfire spectacularly.

With Akeju warning of an exodus to illegal operators and Nwanze questioning the government’s monitoring capacity, the consensus is clear – this rushed regulation could transform Nigeria’s gaming landscape into a wild west of unregulated betting.

The irony? In pursuing additional revenue, the government might end up with a smaller piece of an increasingly fragmented pie. As the countdown to January 2025 begins, the industry’s message is simple: hit pause, rethink the approach, and focus on operators, not players.

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The Future of Betting With Blockchain and Artificial Intelligence at 1win Bet

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In the ever-evolving landscape of the casino gaming industry, the integration of cutting-edge technologies like blockchain and artificial intelligence (AI) is poised to redefine the way we approach online betting. As an experienced player in the field, I am excited to explore how these transformative innovations are shaping the future of casino gaming, with a particular focus on the advancements at 1win-betting.org.

Blockchain, the distributed ledger technology that underpins the world of cryptocurrencies, has the potential to revolutionize the casino gaming industry by introducing a new level of transparency, security, and fairness. Meanwhile, the rapid advancements in AI have opened up a world of possibilities, enabling casino operators to enhance the player experience, streamline operations, and mitigate risks.

Understanding the Benefits of Blockchain Technology in Betting

Blockchain technology offers a unique solution to the longstanding challenges faced by the casino gaming industry, particularly when it comes to transparency and trust. By design, blockchain is a decentralized, immutable, and secure digital ledger that records all transactions in a transparent manner, making it an ideal platform for online betting.

One of the key advantages of blockchain in casino gaming is the concept of “provably fair” gaming. This approach ensures that the outcome of each game is verifiable and cannot be manipulated, as the underlying algorithms and random number generation are recorded on the blockchain. Players can independently verify the fairness of the games, instilling a new level of confidence in the gaming process.

The Role of Artificial Intelligence in Revolutionizing Casino Gaming

Alongside the transformative potential of blockchain, the integration of artificial intelligence is also reshaping the casino gaming industry. AI-powered systems are being employed to enhance the player experience, optimize operations, and mitigate risks.

One of the most prominent applications of AI in casino gaming is the development of personalized player recommendations and predictive analytics. By analyzing player behavior, preferences, and patterns, AI-driven algorithms can suggest personalized game selections, promotions, and bonuses, creating a more engaging and tailored experience for each user.

Moreover, AI is being leveraged to streamline the decision-making process for casino operators. Through the use of machine learning algorithms, AI can identify and analyze trends, predict player behavior, and optimize resource allocation, ultimately improving the overall efficiency and profitability of the casino’s operations.

Exploring the Concept of Provably Fair Gaming on the Blockchain

At the heart of the blockchain revolution in casino gaming is the concept of “provably fair” gaming. This innovative approach ensures that the outcomes of casino games are verifiable and cannot be manipulated, instilling a new level of trust and transparency for players.

The provably fair system works by leveraging the immutable nature of the blockchain to record the underlying algorithms and random number generation (RNG) used in each game. Players can independently verify the fairness of the games by accessing this transparent data, ensuring that the results are not subject to any external interference or manipulation.

This level of transparency is a game-changer in the casino gaming industry, as it addresses long-standing concerns about the fairness and integrity of online betting. By empowering players to validate the outcomes of their bets, blockchain-based platforms like 1win are fostering a new era of trust and confidence in the industry.

How Blockchain and AI Enhance Security and Transparency in Online Betting

The integration of blockchain and artificial intelligence in casino gaming has not only improved the fairness and transparency of the industry but has also significantly enhanced the overall security of online betting.

Blockchain’s decentralized nature and cryptographic security features make it an ideal platform for secure transactions and data storage. By recording all betting activities on the blockchain, casino operators can ensure that player funds and personal information are protected from unauthorized access or manipulation.

Furthermore, the use of AI-powered fraud detection systems further strengthens the security measures in place. These intelligent algorithms can analyze transaction patterns, identify suspicious activities, and trigger immediate response protocols, effectively mitigating the risk of fraud and theft.

The Future of Betting with Blockchain and AI at 1win

As the casino gaming industry continues to evolve, the synergistic integration of blockchain and artificial intelligence is poised to shape the future of online betting. At the forefront of this revolution is 1win, a leading platform that has embraced these transformative technologies to redefine the player experience.

1win’s commitment to blockchain-based betting is evident in its implementation of the provably fair system, which empowers players to verify the fairness of each game. By transparently recording the underlying algorithms and RNG on the blockchain, 1win has established a new standard of trust and transparency in the industry.

Complementing this blockchain-powered approach, 1win has also leveraged the power of artificial intelligence to enhance the overall player experience. From personalized game recommendations to intelligent risk management, AI-driven systems are integrated throughout the platform, ensuring that players enjoy a seamless and tailored betting journey.

Conclusion

The convergence of blockchain and artificial intelligence in the casino gaming industry is ushering in a new era of trust, transparency, and innovation. By leveraging the inherent benefits of these transformative technologies, platforms like 1win are redefining the way we approach online betting, creating a more secure, fair, and engaging gaming experience for players.

As we look to the future, the continued integration of blockchain and AI in casino gaming holds the potential to revolutionize the industry, addressing long-standing challenges and paving the way for a more trustworthy and transparent betting landscape. With its commitment to provably fair gaming, enhanced security measures, and personalized player experiences, 1win is at the forefront of this technological revolution, leading the charge in shaping the future of casino gaming.

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FIFA Picks Saudi Arabia to Host 2034 World Cup

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saudi arabia 2034 fifa world cup bid

By Adedapo Adesanya

Saudi Arabia has been confirmed as the host nation for the 2034 FIFA World Cup.

Also confirmed were the hosts for the 2030 World Cup, which was awarded to six countries and will take place across three continents to celebrate 100 years of the tournament.

Saudi Arabia was the sole bidder for the 2034 competition. Its host status was confirmed on Wednesday after an online meeting of the 211 members of the International Federation of Association Football (FIFA).

The members confirmed the unchallenged bids by acclamation – simply clapping during the virtual meeting led by FIFA president, Mr Gianni Infantino.

As well as the World Cup, Saudi Arabia is hosting football’s 2027 Asian Cup, the 2029 Asian Winter Games and the 2034 Asian Games. It also has long-term ambitions to host more major events, including the Women’s World Cup.

The 2030 tournament will be led by co-hosts Spain and Portugal in Europe, and Morocco in North Africa. Uruguay, Paraguay and Argentina will each hold an opening match to mark 100 years since the first World Cup took place in Uruguay in 1930, a tournament that the South American nation won.

The next World Cup in 2026 will be co-hosted by three proximal nations in North America— the US, Canada, and Mexico.

Saudi Arabia first published its bid for the World Cup back in August 2024 after FIFA controversially fast-tracked the process for hosting the tournaments in 2030 and 2034.

The bid for the 2034 tournament has led to criticism from activist groups, who argue that Saudi laws will not protect workers overseas.

Some of the issues echoed that of the 2022 tournament held in Qatar.

The tournament will require the construction of eight new stadiums, for a total of 15 hosting venues, plus the addition of 175,000 hotel rooms, which will rely heavily on migrant labour.

Critics of FIFA also insist a Saudi-based World Cup risks a repeat of the rights abuses seen during a decade of similar preparations for the 2022 World Cup in Qatar.

FIFA previously praised the Saudi bid in an in-house evaluation, noting that the 48-team, 104-game tournament offers “significant opportunities for positive human rights impact”.

However, it added that Saudi Arabia must invest “significant effort and time” to comply with international standards.

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