December 28, 2011 at 11:02 am #24875
The state of Nevada,US approved regulations for intrastate online poker. South Point Hotel & Casino will host NevadaÂ’s 1st real money poker site. Cantor Gaming, Shuffle Master, International Game Technology, Bally’s Technology, South Point, and Caesars Entertainment are the six companies who have already filed applications. It is a massive stride towards nationwide online poker legislation but online poker will only be offered in Nevada and will be forbidden across state lines.
Nevada regulators have said that brick-and-mortar casinos with the aid of their own technology will move through the licensing phase quicker. Sites new to the Silver State need to partner up with a local gaming company and will fall under more scrutiny.
After the news was released, the actual conventions came out. The following list includes some regulations that will mostly affect players:
Â• All players must be at least 21 years old to play online poker through any Nevada poker sites.
Â• All player information must be kept confidential, and all player funds must be segregated from operating funds.
Â• Players will be required to provide detailed information about them, including Social Security numbers for American citizens.
Â• Deposit methods will include cash at a brick and mortar location, checks, wire transfers, money orders, credit/debit cards, and electronic checks or debits.
Â• Player-to-player transfers will not be allowed.
January 4, 2012 at 1:17 pm #31646
New Jersey Senator Raymond Lesniak (D-Union) announced in a press release that he will re-introduce his intrastate online gaming legislation.
Lesniak plans to get the bill through the Legislature and on Governor Chris Christie’s desk by next week. The aim is to make New Jersey the national leader in online gambling, now that the federal government says in-state bets do not infringe the law.
Lesniak introduced a bill in August that safeguards to address Christie’s concerns, including fines of $1,000 per player per day for anyone running an illegal Internet betting parlor and $10,000 for advertising such unlawful operations.
Lesniak said that he is trying to secure approval from Assembly and Senate leaders to have it approved in committees this Thursday, then finally approved on Jan. 9 and sent to Christie. He expects that by Tuesday he will know whether sufficient support exists to fast-track the bill through the Legislature.
The bill says that only the Atlantic City casinos can offer Internet gambling in New Jersey and the computer servers to be physically located in Atlantic City to comply with state law mandating that all New Jersey casino gambling occur there. Gamblers would have to set up online betting accounts with the casinos. The bill also contains a provision intended to gain the support of the state’s horse racing tracks. The casinos once had to pay $30 million a year to the tracks in return for keeping slot machines out of the tracks. Lesniak’s bill would require that Internet betting licensees pay $20 million a year for three years to help increase race purses and help the tracks through a difficult period.
Internet gambling revenue would be taxed at 10 percent instead of the current 8 percent on traditional casino revenue. The bill also would allocate $100,000 a year from online gambling proceeds to fund programs for compulsive gamblers.
ChristieÂ’s previous look into the legislation started disparity with the momentary purse subsidies for the racing industry coming from state revenues produced from Internet gaming, rather than casino profits.
January 30, 2012 at 11:31 am #24876
Commissioners were back this week for Nevada Gaming Commission hearing. They were present to talk about the future of the online gaming industry. Commissioner and State Senator Randolph Townsend (R-Reno) said that, thanks to the Internet, gaming is in an Â“entirely different world.Â” He added that Â“technology advances quicker than [regulators] can respond.Â”
Townsend told Cantor President and CEO Lee Amaitis that his company is the Â“perfect exampleÂ” of a business adapting to new markets.
The company presented Â“Dealer Bluff Six Card PokerÂ” Â— a brick-and-mortar game that will incorporate digital information for clients to use during play. A law passed during the summer allows gaming companies to utilize electronic devices in such a way Â— without rubbing against the broad statute designed to prevent cheating in blackjack and other similar games. Commission Chairman Peter
Bernhard said the approval of Shuffle MasterÂ’s new game is Â“the first of many to come.Â”
NevadaÂ’s three-person Gaming Control Board is working on finalizing the internal control and technical standards for poker sites ,which cover details such as player registration, age verification and deposits.
Applications to participate in the industry are also currently being processed. Once approved by the Control Board, a potential licensee would be sent to the Commission for the final Ok.
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