Archive for April, 2009

Rep. Frank to initiate online gambling bill next week

Rep. Barney Frank related the Reuters Global Financial Regulation Summit on Tuesday that he would initiate rules planned to revoce the UIGEA next week.

“We’ll be announcing it next week and I plan to step on it,” Frank said according to a Reuters report on the story.

Frank, a Democrat from Massachusetts and chairman of the powerful House Financial ServicesCommittee, has long been a hero of the online gambling industry.

Last year, Frank announced two measures planned to overthrow the UIGEA. One bill flopped to make out of committee. The other was approved by the committee (HFS), but never voted on by the full House of Representatives.

Eventially, betting blackjack,betting poker and betting roulette online will be legal.

Opponents to Frank’s attempts to overthrow the UIGEA is predictable to be hard. The National
Football League (NFL) has employed a full-time lobbyist, in part, to help contest the bid to overthrow the UIGEA. And social conservatives, like Sen. Jon Kyl and Rep. Spencer Bachus, have
suggested they would forcefully fight any effort to moderate or overthrow the UIGEA.

Anti-Gaming Professor Makes Justification for Legal Online Casinos

Professor John W. Kindt of the University of Illinois unintentionally made a point in favor of legal online betting roulette,betting blackjack etc. when specifying the hazards of black market activities lately.

While plugging a new book that advertises a twisting claim that casinos and gaming root a weaker national security, Kindt debated the harm unlawful activity brings to economies.

“We’re seeing all types of really shocking examples of individuals opposed to our interests who are utilizing gambling to their benefit and our harm, such as laundering money through casinos around the world,” Kindt said.

Kindt also edged out that economists believe dollars invested in the normal economy have a multiplier result, triplicating in worth by producing jobs and thus driving the continuous cycle of customer spending. Economist Frank Carzynski expresses this outcome is not felt through black market or unlawful activities, which both draw off off dollars from the economy and also stay tax-free, exhausting government incomes.

Carzynski proposes that Kindt’s economic assertions in fact call for controlled and authorized online casinos. “Internet gambling has proven resistant to prohibitive rules,” said Carzynski. “In order to avert the harmful effects of unlawful activity, online gambling should be regulated, with harsh licensing conditions.”Carzynski said correct licensing and submission oversight would help restrain money laundering. And the economy would profit from the folding of Internet gaming into the service industry, while government could catch about billions in lost tax dollars.

PRWeb not accepting online gambling customers.

 Unexpectfully, this week, the press release distribution , PRWeb has ceased welcoming press releases that deal with online gambling of betting blackjack,betting poker, and betting roulette.
A salesperson at PRWeb’s  holding company Vocus established that management had dispatched an e-mail that said , “The company would stop publishing Online Gambling press releases”.
PRWeb had been one of the biggest press release distributors for the online gaming business.There are no future  plans for the company to accept online gaming press releases. The company’s sister site in the U.K. is also following the company’s new guidelines.PRWeb is located in Ferndale, Washington. Washington has some of the hardest anti-gambling regulations in the country. Residents who betting poker online or place bets online on anything with the exclusion of online horse-race betting  are committing a Class C felony.It is not known what initiate the change or if the company was requested by the state’s government to stop dealing out online gambling press releases.PRWeb says that their service has been used by more than 40,000 organizations. Vocus, the parent company of PRWeb, is located in Lanham, Maryland. It is publicly traded on NASDAQ and provides Web-based software for corporate communications and public relations. It purchased the privately-held PRWeb in August 2006.

Gaming And Alcohol To Come Together In Connecticut?

The state of Connecticut already has casinos that permit betting blackjack, betting roulette, betting poker and alcohol use in the same place. Now, legislators are considering a proposition that would broaden betting into state bars and other recreational businesses.

Lawmakers are considering a plan to make legal electronic keno gambling. If approved, theinstruments could be placed in bars, restaurants, and other locations where recreational activity is offered.

“The state calls for money and as has been the case around the country, legislators are turning to gambling, Whether or not this is a good idea? Only time will tell.

Advocates of the new plan point to the several positives that electronic keno could bring to the state. First , is the opportunity to shut a budget shortage of over $8 billion. The machines bringing in as much as $40 million in additional revenue to Connecticut.

Adversaries of the broadened gambling are worried about the alcohol and gambling being at the same location. They claim that there is possibility for an rise in problem gambling when mixing the two.

While many states are simply legalizing casino gambling, Connecticut must go to a step further. They already have legalized casinos, and are looking for a way to rise revenue without having to add more casinos in the state.

Lotteries Disappointed by Online Gambling Laws

Larger Rewards May Come With Internet Online Lotteries .Forty-two states rely on on lottery incomes to help fund necessary services, so many officials are hopping to increased gambling monies to help close shortages generated by the recession. But lottery promoters say outside elements, especially the UIGEA ban against online gambling, is averting them from originating more income for state coffers. Betting Blackjack and betting poker is also part of online gambling.
A survey by Frost and Sullivan, a Texas consulting company, found that lotteries are lacking as much as $7 billion to Internet casinos, and that operating lottery sales online may be the best way to boost revenue. But New Hampshire and North Dakota have found that Internet lottery sales can run afoul of the UIGEA ban, in spite of express exclusion permitted to state lotteries.

“It’s not that we don’t know how to generate and make money; it’s just that we’re restricted in doing it,” says Gordon Medenica, director of the New York State lottery. The disappointment repeats throughout lottery offices in many states.
New Hampshire Lottery Director Rick Wisler was told by Visa and Mastercard that they “would review the policy” of blocking his state’s online lottery sales as illegal gambling. Meanwhile, Wisler says, state schools carry on to lose support.
Frost and Sullivan recommend in the end to their study that state lottery officials publicly encourage attempts to take off the UIGEA ban and regulate Internet gaming. The consultants assert that leveling the competitive field with gambling sites already operating online in defiance of the ban would right away boost lottery income.

Medenica and other lottery directors say they can generate as much as $14 billion in the next two years or so, if they are allowed to take advantage of Internet oppotunities.

Florida Debates Possibility of High Stakes Poker

Present Laws Limit Maximum Buy-in to $100
Another calendar year, another try to alter Florida’s ever-evolving betting poker regulations.With only weeks leftover in the state’s law-making period, Florida’s Senate has been tryinghard to broaden gambling regulations in an attempt to originate extra income. Having a $3 billion budget deficit , some Florida congressmen believe that a relief on the State’s gambling laws might generate a wealth of new income that may well be used for education.

In spite of the fact that opinions diverge extensively since it is impracticable to conclude just how popular gambling would come to be in the state if Florida modifys its gambling regulations, economists trust a new proposed law in the Senate could bring in from $500 million to $1 billion in additional state income. In 2007, the state’s Indian casinos generated $1.6 billion in income, according to the St. Petersburg Times.

Poker, particularly, could see a great change if these conversations result in new regulations. At present, the highest buy-in for all cash plays in the state is just $100, and the highest bet in any ceiling game is limited to $5. Tournament deposits can be in the hundreds of dollars, but not much above that. The Senate bill would take off these limits to enable for high-stakes activity.Poker is a small part of the Senate’s new proposal on gambling. The office as well wants to permit the Seminole tribe to propose a host of other games, like roulette and craps, to generate more state income. The Seminole tribe is the biggest of any Florida tribe permitted to conduct gambling, operating seven casinos in the state.The Florida House, though, desires no part of the Senate bill. While both offices in the state are Republican-led, the House has a different idea when it approaches to gambling “There is indisputably no chance, that the Senate bill will pass [in the House],”

Democratic State Senatorr told the South Florida Sun-Sentinel earlier this month.Even though the more right wing House has been indecisive in the past to broaden gambling in any shape, the chamber has presented its own gambling statement which would also stand for progression in the state’s poker laws, although much smaller in range. In the House bill, the highest buy-in for cash games would be elevated from $100 to $1,000, and the maximum limit bet would be lifted from $5 to $50.

The poker differences in the two variants of the bill, while not insignificant, are not the main stumbling blocks when it comes to form a agreement on gambling law. At the center of the matter is the state’s 2007 gambling deal with the Seminoles, which delivered the tribe the ability to offer betting blackjack.

Congressman Barney Frank to introduce Betting bill

Persistent in his exploits to take apart the anti-online casino betting legislation approved by the Bush Administration, Congressman Barney Frank will commence a bill, which would set up a licensing and regulatory structure for online betting operators before the end of April as a standalone bill.

Barney Frank, Chairman of the US House Financial Services Committee, related to The Hill congressional newspaper just past week that the bill, Gambling Regulation and Enforcement Act (H.R. 2046), would be a standalone bill although Republicans supplemented the law on the back of a vital port security bill in the 109th Congress.

Reporters have implied that the outcome of introducing the bill as a standalone bill would cause it to be even more difficult for it to be approved by Congress. Congressman Frank stated. However, that it would be ‘inappropriate’ to follow the Republicans’ path. “That is not my intention. It would be a mistake. I want to do this with hearings, discussions and votes,” Frank told The Hill.

Jeffrey the writer, spokesman for the Safe and Secure Internet betting Initiative which backs Frank’s bill, told The Hill: ‘We welcome a standalone bill, which would allow for a thorough discussion of all the issues relating to regulations and consumer protections.

‘The excitement over Congressman Frank’s bill is that it would create an environment that would protect USA betting players and include safeguards against underage betting and compulsive betting, which don’t exist right now,’ stated the writer.

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