London - Betfair, a U.K.-based online gambling firm focused on horseracing, has acquired Macrovision's (NASD: MVSN) TV Games Network interactive TV horserace wagering service for $50 million in cash.

New York - Anurag Dikshit, a founder and former officer and director of PartyGaming, an Internet gambling business, has pled guilty in Manhattan federal court to charges that he used the wires to transmit in interstate and foreign commerce bets and wagering information.

Waltham, Mass. - GameLogic, a developer of casino games based on online games, has raised $3 million of debt financing from Velocity Financial Group.

San Francisco - PurePlay, an online poker site that allows users to play for cash and claims to be compliant with U.S. laws, announced on Tuesday that it has raised a third round of venture capital, led by Bay Partners, with total funding to date now at $15 million.

Los Angeles - The government of Antigua is threatening to legalize piracy of U.S. music and movies -- with World Trade Organization approval -- should the U.S. fail to end a running dispute over the legality of Internet gambling, Variety reports.

Brussels - The European Union has launched an investigation into U.S. treatment of overseas online gambling operations, with an eye towards possibly launching proceedings against the U.S. at the World Trade Organization, Reuters reported. Several European online gaming services filed complaints with the EU in December, saying that the U.S. is singling out foreign companies for prosecution, while allowing domestic online gambling on horse racing.

London - Bragster, a social network "for dares and social bets," announced on Wednesday that it has closed a $3.5 million first round of venture capital financing, led by Intel Capital.

London - BetNow, a U.K.-based developer of mobile gambling services, has raised an undisclosed sum in its first round of venture capital, led by Balderton Capital, PEHub.com reported.

St. Louis - Microsoft (NASD: MSFT), Google (NASD: GOOG) and Yahoo (NASD: YHOO) have paid a combined total of $31.5 million to settle claims brought by the Justice Department that the companies promoted illegal gambling by serving online ads for the operations between 1997-2007.

Washington - The European Union has accepted a compensation package the U.S. has offered, in response to its withdrawal from World Trade Organization (WTO) agreements on gambling and betting services. "A bilateral agreement was signed in Geneva, which provides EU service suppliers with new trade opportunities in the U.S. postal and courier, research and development, storage and warehouse sectors," the Commission said. "The U.S. also made concessions in the testing and analysis services sector."

Washington - In a letter to the U.S. Trade Representative sent on Monday, six lawmakers -- including House Financial Services Committee Chairman Barney Frank, and House Judiciary Committee Chairman John Conyers -- said the U.S. should consider altering its ban on Internet gambling instead of paying compensation to countries who say the U.S. is violating trade agreements, Reuters reported.

Wilmington, Del. - Zone4Play, a developer of Internet, TV and mobile games content, announced on Wednesday that it has formed a joint venture with interactive TV production company Two Way Media, to exploit opportunities in the U.K. gambling and entertainment market.

Mountain View, Calif. - PicksPal, a free, national online sports competition where users predict the winners of various games, has raised $3 million in its third round of venture capital financing, from Bay Partners and Canaan Partners, PEHub.com reported.