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US Poker: Fact or fiction? InsidePokerBusiness

US Poker: Fact or fiction? InsidePokerBusiness | Poker & eGaming News | Scoop.it

Our strong preference is for internet gaming to be legalised and regulated at the federal level. It would be far easier to secure just one licence and be subject to one set of regulations. A nationwide system also provides much greater player liquidity than a state-by-state system,' he says. 'In our view only a handful of states will have enough liquidity to make internet poker profitable.

 

Whichever way they go about it, it seems clear gambling companies will continue to ready themselves for the regulation of the US poker market. Though it seems it is state regulation many are, resignedly, preparing for, some are still hoping for something at a federal level. 'We were very surprised by UIGEA back in 2006 so we may wake up one morning and find we have federal legislation, because it just makes so much more sense for online,' says Teufelberger.

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Boyd Gaming to buy Peninsula Gaming for $1.45 billion

Boyd Gaming Corp., will spend $1.45 billion to acquire the assets of Peninsula Gaming LLC, giving the Las Vegas-based company a presence in Kansas, Iowa and a significant expansion in Louisiana, the company announced Wednesday.

 

The deal is expected to close by year's end. Boyd Gaming, which now owns and operates 17 gaming properties, including six in Las Vegas, said it plans to use $200 million in cash and about $1.2 billion in debt in the transaction. Boyd said it has secured financing, and a seller's note provided by Peninsula for about $144 million will be part of the deal.

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Lottery Business in the United States, Derek S GamingZion

Lottery Business in the United States, Derek S GamingZion | Poker & eGaming News | Scoop.it

When it comes to mega lotteries, as above mentioned Mega Millions, or Powerball, the chances of winning one go to 1-in-several hundred millions. You may as well start a shoe-shining business and you get much higher chances of becoming a billionaire. And, of course, as many already know, the chances of getting struck by a lighting are higher than those of winning a lottery.

 

Yet, Americans, as well as other nations, just can’t stop buying lottery tickets. In the United States alone, over $50 billion annually is spent on these bets. Running a lottery business is very profitable as the laws of statistics can’t deny profits. Take, as an example, the recent Mega Millions jackpot won. It was an astounding $656 million, yet the ticket sales reached $1.5 billion. That leaves about $800 million in profit.

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Feds in N.J. bust illegal online gambling ring, Jason Grant New Jersey Online

Feds in N.J. bust illegal online gambling ring, Jason Grant New Jersey Online | Poker & eGaming News | Scoop.it

In a major federal bust, 13 of the defendants are charged with both traditional Mafia crimes — like card-game gambling, loan-sharking and theft of goods — along with what U.S. Attorney Paul J. Fishman calls "the new wrinkle" of using an overseas sports-betting website to run an illegal gambling operation in northern New Jersey and elsewhere.

 

But a good portion of the complaint also focused on LaScala crew members allegedly working alongside unnamed people running a Costa Rica-based sports-betting website, Beteagle.com, that serviced northern New Jersey and elsewhere. According to prosecutors, high-level associates of the crew acted as "agents" of the business, charging high interest and using threats to collect debts incurred on events like pro football games.

 

New Jersey is currently working on regulating online gambling.

 

Other sources:

http://www.gambling911.com/gambling-news/13-busted-new-jersey-running-internet-gambling-website-22-billion-bets-052312.html

http://www.gambling911.com/gambling-news/lesniak-cites-mob-bust-reason-why-new-jersey-must-legalize-online-gambling-052412.html

http://www.innovategaming.com/2012/05/godfather-jersey-arrested-online-gambling-ring/

http://www.gambling911.com/gambling-news/thank-genovese-crime-family-bringing-legalized-sports-betting-online-poker-nj-052512.h

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Mobile Gambling allowed within casinos in New Jersey and Las Vegas, Tony Batt Gambling Compliance

Mobile gaming devices could be allowed within Atlantic City casinos, according to an 8-0 vote Monday on an omnibus gambling reform bill by the New Jersey Assembly Appropriations Committee.

 

The mobile gaming device bill, A2575, sponsored by Democratic Assemblyman John Burzichelli, is similar to legislation approved 5-0 in February by the New Jersey Senate Committee on State Government, Wagering, Tourism and Historic Preservation.

 

“I don’t think they’re going to be a big driver [of casino revenue], quite frankly,” he said. “They’re just going to be another amenity that makes Atlantic City attractive — to compete with Las Vegas, which already has them.”

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Paddy Power wants in to US Online, iGaming Post

Paddy Power wants in to US Online, iGaming Post | Poker & eGaming News | Scoop.it

Patrick Kennedy PADDY Power chief executive, insisted yesterday that the online operator is not in danger of being left behind in the US as a number of states move ever closer to legalizing online poker. PP wants in to the US, but lacks own Poker software

 

Mr Kennedy conceded that companies such as Bwin.Party and 888.com have the technology platforms to provide online poker operations that Paddy Power doesn’t possess.

 

“What we’re showing potential partners is deep e-commerce expertise that other global companies don’t have,” said Mr Kennedy. “We know how to run, better than anyone, I would argue, an e-commerce business. So there are different parts to the value chain.”

 

One good point Paddy Power could benefit from is an untarnished legal reputation. Some online poker operators have been previously been charged by the US Justice Department with illegally offering internet gambling to US, not Paddy Power.

 

Other sources:

http://www.independent.ie/business/world/paddy-power-is-ready-for-move-to-online-poker-in-us-says-chief-3111590.html

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Political hypocrisy creates illegal betting market, Derek GamingZion

Political hypocrisy creates illegal betting market, Derek GamingZion | Poker & eGaming News | Scoop.it

In the New York State alone, betting on horses is a two billion dollar industry. At the same time, the state allows casinos to operate at the Indian territories. Yet, online sportsbooks in USA aren’t legalized, although states such as Nevada seek to make these a reality within the state borders.

 

Allowing horse betting, while making some other sports bets a felony, is a sign of legal hypocrisy. Different sets of laws apply to it. The horse racing tracks are also able to provide video slots to supplement the income. The lobbying efforts of this industry heavily influence the legislative process. You can bet on horses in New York, but you can’t do so on the American Football, making billions of dollars in Super Bowl bets done under the table.

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58% against online gaming in NJ according to small survey, iGaming Post

58% against online gaming in NJ according to small survey, iGaming Post | Poker & eGaming News | Scoop.it

New Jerseyans oppose legalizing Internet gambling, according to a new poll. However, they still want the ability to bet on sporting events.

 

Women opposed Internet gambling by a 65 to 25 percent margin; men voiced opposition at a 52 to 37 percent rate. The younger a voter is, the more likely they are to support it, but the only age group that supported it in the poll were those 30 and under. Republicans (58 percent) and Democrats (60 percent) oppose Internet gambling at roughly the same rates. In terms of sports betting, 60 percent of voters said they want it legalized, with 26 percent opposed and 14 percent unsure.

 

The telephone poll surveyed 797 registered voters statewide between April 30 and May 6. It has a margin of error of plus or minus 3.5 percentage points.

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US Lottery up 14%, Gambling Compliance

Total retail lottery sales for the quarter ended March 31 were $14bn, climbing 14.2 percent compared to the same period a year ago.

 

Instant ticket retail sales, $7.9bn, grew 13.4 percent, while online retail sales, $6.1bn, rose 15.3 percent.

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Lottomatica interactive quadruple revenues, Tom Victor

Lottomatica interactive quadruple revenues, Tom Victor | Poker & eGaming News | Scoop.it

Lottomatica quadruple the online revenues from €117.4m to €589.9m year-on-year, "was primarily attributable to the launch of new games including Poker Cash games and Casino games, which commenced in the second half of 2011".

 

Online lottery sales also progressed well following December's Wire Act clarification in the United States, with Illinois – where subsidiary Northstar Lottery Group has started its operation.

 

Overall group revenues were up 11.1% compared to Q1 2011, coming in at €780.3m for the quarter. The biggest area of growth was GTECH lottery, where revenues were up 25.3% year-on-year to €237.5m.

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bwin.party signs 10-year California poker agreement, Gaming Intelligence

bwin.party digital entertainment has signed a 10-year agreement with the United Auburn Indian Community to power an online poker site in California if suitable intrastate gaming legislation is enacted.

 

The company said Tuesday that it would provide the technology and operational expertise to power the online poker site for a 10-year period from the date that online poker services are launched following enactment of suitable legislation.

 

The United Auburn Indian Community (UAIC) operates the 144,000 sq. ft. Thunder Valley Casino Resort near Sacramento, California, qualifying it for licensing under legislation proposed in California’s State Senate.

 

Other articles:

http://pokerfuse.com/features/in-depth/californias-latest-online-gambling-bill/

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Instant Action, interview with Lou Castle in iGaming Business

Instant Action, interview with Lou Castle in iGaming Business | Poker & eGaming News | Scoop.it

In March, Las Vegas firm Shuffle Master agreed to buy the Ongame Network from bwin.party for €19.5 million. The purchase was intriguing with Shuffle Master joining the growing ranks of US companies gearing up for regulation with a further €10m payment due to bwin.party if and when the US doors open to regulation. One of the key men overseeing the deal is Shuffle Master's chief strategy officer Lou Castle.

 

If Castle's name seems familiar, it could be because he co-founded video game developer Westwood Studios, which created the legendary Command and Conquer series and sold over 10 million copies worldwide. In this exclusive interview he looks at the current online poker industry and suggests how it may be in need of radical change. You can read the full interview in the lastest issue of InsidePoker Business.

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MGM to launch social gaming site, Tom Victor EGR Magazine

MGM to launch social gaming site, Tom Victor EGR Magazine | Poker & eGaming News | Scoop.it

United States-facing casino operator MGM will soon roll out a social gaming site exclusively featuring its brands.

 

The CEO Jim Murren hopes the new development “will be superior to what you currently see in the market and will be a strong customer acquisition and brand extension tool for us.”

 

At this stage it is unclear whether any of bwin.party’s brands, which include PartyPoker, bwin and the World Poker Tour, would have any presence on MGM’s planned social site. The World Poker Tour brand is already active on Facebook via an app developed by Hands-On Entertainment which boasts 170,000 monthly active users.

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Zyngas starts lobbying for US online gambling, Recent Poker

Zyngas starts lobbying for US online gambling, Recent Poker | Poker & eGaming News | Scoop.it

Lobbyist Alix Burns, president and founder of Bay Bridge Strategies has been lobbying on behalf of Zynga since early May on "legislation pertaining to regulation and taxation of Internet Gambling".

 

Other sources:

calvinayre.com/2012/06/08/business/zynga-hires-dc-lobbyists-for-internet-gambling-social-sports-betting/

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California Seeks to Legalize Sports Betting, Derek S GamingZion

California Seeks to Legalize Sports Betting, Derek S GamingZion | Poker & eGaming News | Scoop.it

States such as Nevada, New Jersey, and New York are steadily moving forward. Delaware and California are jumping on the bandwagon, while other states, such as Florida, are quite unfriendly when it comes to online betting.

 

As the news spread, there is a great hope for the online gambling in America. However, as the Wire Act of 1966 states, no online sportsbooks in USA, especially on interstate basis, are allowed. Nevertheless, states such as New Jersey are challenging it. Now, another state, California is seeking to legalize sports betting on its territory.

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NJ Gov Christie promises sports betting regulations again, iGaming Post

NJ Gov Christie promises sports betting regulations again, iGaming Post | Poker & eGaming News | Scoop.it

A ballot referendum to change New Jersey’s constitution to allow wagering on certain NFL and collegiate sports at the state’s casinos and racetracks passed 2:1 in November. The state Legislature moved swiftly to pass a measure to legalize the activity and Christie signed it into law in January, but the governor had taken little to no action since.

 

This prompted criticism from some leading Democrats, including state Sen. Ray Lesniak and people involved in the gaming industry to speculate that presidential politics might be involved.

 

Christie said he would try to put the new rules into effect by fall in defiance of the federal ban on sports betting, which limits the activity to four states: Nevada, Oregon, Montana and Delaware.

 

The federal law, known as the Professional and Amateur Sports Protection Act, must be overturned before New Jersey can get sports betting. Gaming legal experts say changing the federal law could take some time.

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Liquidity An Issue For States Wanting to Offer Online Poker, PokerUpdate

Liquidity An Issue For States Wanting to Offer Online Poker, PokerUpdate | Poker & eGaming News | Scoop.it

Nevada is in the forefront of the intrastate online poker race with the most recent timetable of having poker sites up and running tentatively set for early 2013. The whole poker industry will certainly be watching to see how successful the first state will be in offering poker to only residents and tourists within the state. With a population of about 2.7 million, the Silver State ranks 35th out of the 50 states.

 

Nevada has expressed an interest to partner up with its neighbor, California, in an interstate format that would boost player liquidity for the Silver State in a huge way. California is the most populous state with roughly 37 million residents that, prior to Black Friday, was responsible for about 60% of online poker players from the U.S., approximately 2 million players.

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U.S. States Increasingly Turning To Internet Gambling, Chris Krafcik, GamblingCompliance

U.S. States Increasingly Turning To Internet Gambling, Chris Krafcik, GamblingCompliance | Poker & eGaming News | Scoop.it

Internet gambling legislative activity in the United States has significantly increased compared to last year, driven partly by a new spin on an old federal law used to discourage states from legalizing Internet gambling.

Late last year, that law, the Interstate Wire Act of 1961, was the subject of an Obama administration memo clarifying that the act effectively allows most states to authorize forms of Internet gambling other than sports betting.

According to U.S. Internet Gambling Regulatory Tracker, GamblingCompliance’s proprietary legislative monitoring service, nine states have considered whether to legalize or prohibit some combination of Internet poker and casino gaming in 2012, up from seven states last year.

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White House leaves Online Poker to US States, iGaming Post

White House leaves Online Poker to US States, iGaming Post | Poker & eGaming News | Scoop.it

The Obama administration has finally responded Friday to the American people’s online petition to license and regulate Internet poker.

 

"The Administration understands that many Americans engage in paid online poker games for entertainment purposes. Online gambling on sporting events or contests violates federal law. The legality of other forms of online gambling is dependent upon the law of the states where the bettor or gambling business is located. It is left to each state to determine whether it wishes to permit such activity between its residents and an online poker business authorized by that state to accept such wagers, but online gambling that is not authorized by state law may also violate federal statutes."

 

Other sources:

http://www.gamblingcompliance.com/node/49201

http://pokerupdate.com/news/white-house-slow-plays-online-poker-petition/

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Lipparelli: Online poker in Nevada still months from reality, Tom Wahington EGR Magazine

Lipparelli: Online poker in Nevada still months from reality, Tom Wahington EGR Magazine | Poker & eGaming News | Scoop.it

Online poker players in Nevada will have to wait another “six to eight months” before sites will be up and running in the state, according to Gaming Control Board Chairman Mark Lipparelli.

 

Speaking at the Gaming Policy Committee meeting in Las Vegas yesterday, Lipparelli said the first licenses should be obtained in 30-60 days, yet stringent checks and approvals of website technology will prolong the process until at least autumn.

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Online Gambling Not A Threat To Land-Based Casinos, PokerUpdate

Online Gambling Not A Threat To Land-Based Casinos, PokerUpdate | Poker & eGaming News | Scoop.it

The American Gaming Association (AGA) has confirmed what many poker players already know--that online gambling tends to increase participation by gamblers at land-based casinos instead of eroding the revenue at the brick-and-mortar establishments.

 

The study states:

44% - Lottery

27% - Gambling at a casino

23% "casual betting"

15% live poker home or casino

8% horse racing

4% online egaming

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US Casinos up 3%, Gambling Compliance

US Casinos up 3%, Gambling Compliance | Poker & eGaming News | Scoop.it

Commercial casinos across the U.S. generated a combined $35.6bn in gross revenues in 2011, up 3 percent on the previous year, according to the American Gaming Association.

 

The $35.6bn in revenues at casinos across 22 states was an increase on $34.6bn in 2010, but still below previous peaks of $37.5bn in 2007 and $36.2bn in 2008, the AGA said in its annual "State of the States" report, published yesterday.

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Met Police Facing Up To Online Gambling ‘Bonus Abuse’, Gambling Compliance

The abuse of online gambling bonuses by criminals, highlighted by the conman jailed last month for defrauding operators of £80,000, is a widespread, cross-border problem, according to the Metropolitan Police Gaming Unit. Police from the Gaming Unit, which has traditionally dealt with bricks-and-mortar casino scams, discovered 350 hand-written notes when they arrested Osipau, detailing the stolen identities.

Some 5,900 scanned ID documents were also found, largely purchased from a Russian broker.

 

The EU’s executive agency is also in talks with gambling regulators across Europe about producing a best practices guide for consumer protection, as part of its 2012 online gambling action plan. The robustness of an operator’s know-your-customer (KYC) controls, anti-money laundering and security systems are being tested all the time.

 

However, operators argue, ID checks that are too strict can strangle the use of regulated companies and push players towards the black market. In France, early online gambling licensees have complained that the multi-stage verification process, which prevents players from fully activating their accounts until they receive a code in the post, has deterred as many as two-thirds of customers from signing up.

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IGT believes in US online poker, InsidePokerBusiness

IGT believes in US online poker, InsidePokerBusiness | Poker & eGaming News | Scoop.it

When US-technology firm IGT bought Swedish poker network Entraction for $114 million it raised more than a few eyebrows in the poker industry. This was a major US technology firm entering into the online poker space in a very visible way. There could only be one conclusion. They knew something: online poker legislation was on its way soon.

 

But that is to diminish the potential for growing what was previously known as the Entraction Network, and is now known as IGT Poker, in Europe. IGT Poker is currently the 13th largest poker network on PokerScout, but as Peter Laverick, director of marketing at IGT Interactive, notes it has a huge amount of growth potential if it can target some of its rivals big clients.

 

Nonetheless it's the US market that remains the biggest opportunity. With IGT having close relationships with many US casino groups it is well placed to cash in on any regulation stateside.

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New York Lottery celebrates twelfth year of growth, iGaming Business

New York Lottery celebrates twelfth year of growth, iGaming Business | Poker & eGaming News | Scoop.it

The New York Lottery has released its unaudited financial results for the twelve months up to the end of March showing that it had sales and net win of $8.44 billion and generated a profit of nearly $2.9 billion.

 

The New York Lottery began operations in 1967 as the nation’s third modern lottery and its profits are put towards helping to fund education programmes throughout the eastern state. The organisation revealed that its most recent returns will represent approximately 15 percent of the total aid given to local school districts.

 

Total sales and net win excluding extraordinary items over the New York Lottery’s most recent financial year increased by 7.3 percent or $571.3 million when compared to the previous twelve-month period while profits rose by $234.1 million or 8.8 percent year-on-year.

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