CVC takes majority stake in betting firm Tipico | Reuters

Privately-held Tipico – a sponsor of soccer clubs like FC

Bayern or Hamburg’s HSV – was put up for sale by its founders in

a recent auction.

Sources earlier this month said buyout group Centerbridge

had joined up with Deutsche Telekom to bid for

Tipico, with one adding the planned offer may value Tipico at

about 1 billion euros ($1.1 billion) or nine times its expected

core earnings.

A purchase price was not announced, due to confidentiality

agreements, CVC said in a statement, adding the deal is subject

to clearing by the relevant cartel authorities and is expected

to be completed in the third quarter of 2016.

(Reporting by Vera Eckert; Editing by Ruth Pitchford)

They said at the time that CVC was also expected to bid,

among others.

($1 = 0.8913 euros)

FRANKFURT, April 24 Funds advised by private

equity group CVC Capital Partners on Sunday signed a binding

agreement to acquire a majority stake in betting firm Tipico,

Germany’s largest private sports betting group, CVC said.

CVC took a majority stake in leading British betting firm

Sky Bet in late 2014, and had been involved with similar firms

such as William Hill and IG Group, it said.

Professional Gambling Blog and How to Beat the Casino

As a gambler, it is your job to acquire as much knowledge and skill about any […]

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. That’s a common myth that is often perpetuated to encourage reckless gambling. Gambling without knowledge most often leads to financial loss. How to win at gambling

July 9, 2014 by Greg Elder

Gambling has long been associated with “Lady Luck.” Lucky people win money when they gamble, unlucky people lose

For gamblers, Brexit was bigger than the Royal baby

told CNNMoney that this was their biggest non-sports betting event ever, eclipsing gambling on the Royal baby and any past election.

They’re now taking bets on who will become the next U.K.

The bet in this instance was very simple: Choose whether the U.K.

The odds set by the bookmakers predicted that voters would choose to remain in the EU. real estate sector. would leave was guaranteed a bigger payout as the referendum drew closer. prime minister.

Opinion polls in the immediate run-up to the referendum showed the vote was split about 50-50.

Related: Brexit’s existential threat to Europe

Bookmaker William Hill said the biggest bet staked on the outcome of the referendum was £100,000. is known for its active sports gambling market, with millions of pounds bet on soccer matches and horse racing.

A William Hill representative said she later told the company, “My sadness is for the wider implications of the result, which is far more important than personal financial loss.”

Economists had long been warning that a British vote to leave the EU would slam the economy, currency, financial markets and the U.K.

Major publicly traded bookmakers in the U.K.

Paddy Power Betfair said its biggest individual winner received a payout of £99,000 based on a bet worth £18,000.

CNNMoney (London) First published June 25, 2016: 3:41 AM ET

. The London-based gambler who placed the bet lost it all because she predicted the U.K. will vote to remain in the European Union or leave.

Overall, more people put small bets on Leave, while a smaller number of people placed large bets on Remain. But bookmakers are increasingly expanding into non-sports betting.

The U.K.

“The betting industry as a whole would have taken £150 million in bets,” estimated a representative at gambling firm Paddy Power Betfair. would vote to remain in the EU. That works out to over $200 million. Anyone that bet that the U.K