Posts Tagged ‘legislation’
Tuesday, November 30th, 2010
New Jersey is a state that is pro gambling for the most part. The state’s legislators have long been pushing for the casino industry to turn things around. Part of the problem is that Atlantic City has been suffering since the recession. In fact, its numbers have been so far diminished that it is having a hard time regrouping. The market of the former gambling hub of the northeast is fading fast. Just look at casinos in the area. Many have made headlines with layoffs and more layoffs are imminent so say the casino operators. They know that though they are creating promotions to turn things around, it isn’t working. New Jersey legislators are pushing for some changes because they know that gambling is no longer a strong money maker like it once was—in fact, it is causing more people to the unemployment lines. Legislators and casino operators are looking for solutions.
One of the big solutions the market is coming up with is bringing online casino gambling into the area. The world of online gambling is growing exponentially in other locations, so New Jersey lawmakers are hoping that if they allow online versions of their casinos, it will help to return the state to former days of gambling glory. Right now legislators are pushing for blackjack, poker and baccarat to be translated to the online market. These are three of the most popular games and each one offers a strategy. Unlike games of sheer luck, these games offer hours of honing strategy. This is a sure fire way to bring gamers in. If the initiative to bring in online gambling is enough to help generate revenues, then expect more games to be brought to the virtual market. The state’s finances are low and presenting a lot of problems with budgets and deficits. The state has a twenty-percent interest in gambling and expanding to the online market will only bring in more cash revenue dollars. This is a huge draw for a state that has yet to return to its old revenue generating activities. It is offering hope to legislators. They want to turn things around proactively and are hoping that online gambling will do it.
Tags: Atlantic City, gaming, legislation, New Jersey
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Tuesday, November 30th, 2010
One of the questions that many legislators have when dealing with gambling is whether or not citizens are going to follow rules. They can work to create laws that are solid and supposedly protect the gaming public, but are players going to listen? Are they going to shy away from casinos that have issues? Are they going to say no to big promotions if they are from troubled casinos? These questions have to be answered in the market because gamers need to be protected as the legalization and regulation of gambling is moving into the market. Once the door is opened to gambling, there have to be safe places for people to wager or that could create a myriad of other problems to deal with. One country that has been debating the issue out is Poland. If you recall, Polish officials went through some problems as of late. In the past few months more than a few high-profile politicians were caught in a bribery case and left their posts as political officials as a result. This is a sign of how things can change quickly for the market. People can be bribed and people are swayed by changes in the market—that includes officials who are put into power.
Now Poland is making more changes. It now has banned various forms of online gambling activity and that includes poker rooms and online casinos. The ban has translated into taking gambling companies totally out of commission within the country and that is a big blow for the virtual casinos. So why is the government making these moves now? There aren’t many answers and the government isn’t divulging. However, experts are making their own speculations on what is going on. One main reason they could be creating stronger regulations for gaming companies is because the numbers are down in terms of land based gaming companies. The companies are suffering and trying to come up with ways of reinvigorating their own businesses. Part of the reason for their diminishing numbers is the rise in online gambling options the residents of the country have now. The government could be stepping in to mitigate losses. Remember that if a land based casino loses revenue, so does the government because their own tax revenue dollars will be lowered as a result.
Tags: change, legislation, Poland, scandal
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Thursday, November 4th, 2010
It is no secret that gambling is a big business market. People are weighing in on their own opinions of how big it is, but no one can truly hone in on a number due to the overwhelming growth going on. There are signs though and gaming operators are watching them closely. Betfair.com recently announced that it is going public and that move alone could create $2.3 billion in additional money. In addition US companies are also moving into the publicly traded market. Las Vegas Sands, Wynn Resorts and MGM Mirage all have pushed themselves to the London Stock Exchange recently and are making a big showing. Betfair.com was also noted as one of the top ten biggest companies in the world in terms of overall value. This means that gambling is no longer an underground business—it has quickly driven itself to the level of respect and true profitability in the market.
The US is lagging behind though—as some experts claim. They are saying that legislators are dragging their feet at a time when that is going to affect the nation’s economy the most. There is a true rise in online gambling and US gamers are a huge part of that. It is no secret that they want to wager and are going to do so wherever they can. The US should have learned their lesson back in 2006 when the government rendered online gambling illegal through the UIGEA, or Unlawful Internet Gambling Enforcement Act. It was supposed to push Americans away from gambling, but in the end all it did was cause them to look outside the US for their gaming needs. People started wagering, and still do, in mass numbers at offshore casinos. The internet has made it possible for people to take advantage of the world market and that is exactly what they did in this instance. It makes the question of legalizing gambling in the US that much more important. There are some forms of gambling that are legal in the states, including horse race wagering, some land based casinos and state run lotteries, but this is small compared to what legalization would bring. Legislators are revisiting the issue and most likely are going to have to come up with some solution in coming months.
Tags: gambling, legal, legislation, US
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Friday, October 29th, 2010
More and more legislators are working with various gaming law to see what works for them. Oregon is a state that has long been debating the issues. No one is doubtful of the millions of dollars that are available via a good gambling plan. It can bring in millions of dollars per month and that is money that no state can really pass up. Since the recession, governments everywhere have been in search of financial revival. The problem is that people are not yet spending like they once were and the unemployment rate is still higher than manageable for many economies. Jobs are opening up, but not at the rates high enough to absorb the sheer number of unemployed who are in search of them. Oregon is still debating the issue as a result—this time it is Measure 75 that is coming into play. It is asking residents of the state if they are supportive of a new non-tribally operated casino in the state’s Multnomah County. The attraction here is that if a casino is brought in, the money from operations would go to the state’s own coffers. Twenty-five percent of all earnings by the casinos would go directly to the state in tax revenue dollars. Residents are being wooed by the possibility of that cash being brought into the market. it could not only turn things around due to more growth, but it also could bring in more job possibilities for the locals to benefit from.
The difference with this pending proposal is that it would be a mass scale casino. Developers are promising to make it even more profitable than anything the state has seen thus far in terms of gambling casinos. It isn’t a question of when they bring in money, it is a question of whether or not the gambling public is going to support it based on the advantages. Measure 75’s support is the goal of the developers looking to bring the casino into the market. It may take some time, but it will be an issue to make it happen. Part of that issue will rely on the amount of overall advertising the developers provide to the market and how convincing they are that this is beneficial for all parties involved.
Tags: legislation, Measure 75, vote, voter
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Monday, August 9th, 2010
Free trade is an issue that the EU has been focusing on over the past few years due to the rise on online gambling as a viable market. More and more companies are offering gambling and that means that it may take some time to sort through the rules. Free trade of course is a premiere law of the EU and every market has to adhere to that. Many countries of the EU in the past have tried to get around the free trade laws when it comes to gambling. They have unsuccessfully tried to form a monopoly in gaming around their country. The EU quickly stepped in and put an end to that issue by noting that it was against EU policy for anyone to close off the market for the purpose of being the sole provider. That is completely contradictory to what the law states regarding free trade and the EU is not going to let that happen.
In order for Poland to remain in the EU it is going to have to alter its rules regarding gambling. The lottery that is currently held and very popular is a prototype of sorts for the country’s legislators to work with the GTech G2 organization. If they can create a workable situation for the lottery that benefits all parties involved, without stifling any trade agreements already instituted, then this model could be used to further expand gambling in the Polish market. It may take some time for the issues to be sorted out, but most likely gambling law will be written shortly. The reality is that there are millions, possibly billions, of dollars avaialble through gambling and its legalization. Countries may try to form monopolies to protect those billions, but third-party regulators like the EU are going to step in to make sure that other laws already being enforced are not broken. It will take some time for things to get settled, but with the huge price tag that online gambling’s legalization and regulation is giong to bring, is enough of an impetus for gamers, legislators and the EU to work together to find viable solutions.
Tags: EU, legislation, Poland, trade
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Thursday, July 29th, 2010
It’s no secret that California is under a huge financial burden these days. Since the recession, the state has suffered greatly and is having a hard time recovering. The recession brought hefty foreclosure rates, a huge unemployment cost and overall depression to the state. Now, it has few options in terms of bringing in much-needed revenue. One of the newest trends in the US is to find creative ways of legalizing gambling. Gambling has proven its worth—it is a billion-dollar and growing business. No one anticipated the overwhelming response gambling would get when it was first introduced to the market. Sure land-based casinos have been popular, but that didn’t mean that they would translate well into the online gambling market.
Over the years, land-based casinos have found a lot of success with bringing in tourists. States have used them to create a tourist buzz and in turn a new revenue stream. Once online gambling came into play, it was not known if people would continue gambling, or cut back due to the overwhelming possibilities. Online gambling took off and proved to be a huge draw in the market. If you look at the numbers, it is one of the only industries that has consistently grown over the past five years, without any dip. Since the recession, it has only gained momentum due to its convenience and affordability. Though land-based gambling can be costly—of both money and time—internet gambling proves to be a popular alternative because it overcomes both.
If you love land-based gambling then check out internet gaming. Most likely if you are in California you will soon see a lot of new gambling activity. The state is under a lot of pressure to find millions of dollars for the 2011 budget’s needs, and there are few options that will bring in that kind of money other than gambling. Legislators are now debating the possibilities and how to write laws that make it truly possible to legally gamble in the state. Only time will tell how long it takes, but most likely in coming months the state will embrace gambling and gaming activities that involve wagering online and at land-based casino locations.
Tags: budget, California, legal, legislation
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Thursday, July 29th, 2010
Like other states within the US, North Carolina is debating legalizing video sweepstakes games. Governor Beverly Perdue signed a new law that banned sweepstakes games in the state. It seemed like decisive action making the hobby illegal and changing the climate of online gambling. Now, the governor seems to have backtracked a bit by confirming that she would be willing to hear proposals on legalizing video poker. Part of the issue is that legislators in North Carolina want to reform the state’s Alcoholic Beverage Control methods and part of that starts with reworking gambling. The ban on tradition poker machines was the governor’s first step in controlling alcohol and by no means is she done with the issue. It will take time for legislators to adopt the adequate rules that change the world of gambling. But now that the governor seems more open to new ideas, that changes things entirely.
Almost every state is debating the issue of online gambling and trying to implement some way of capitalizing on the millions of tax-revenue dollars involved. If one thing is for sure, people will gamble. This was proven with the UIGEA that caused millions of US gamers to move to offshore companies for their gambling needs. It cost the US billions of dollars and was a mistake that won’t be lived down any time soon. Now, states are all coming together to try to write laws that legalize and regulate gambling. They know that it is a lucrative pastime and their suffering budgets can surely benefit from it. Since the recession, people have suffered and so have state and county budgets. Now they are hoping that the new legislation they come up with regarding gambling might help to shore up diminished state coffers and help them to overcome the huge deficits they are trying to manage.
It will take time for North Carolina and the governor to come up with a viable legislation to manage online gambling, but most likely it will happen. With the Governor’s newfound willingness to look at new rules, it seems as if gambling is just a matter of a few months away for residents of the state.
Tags: gambling, legislation, North Carolina, Perdue
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Thursday, July 29th, 2010
The US state of gambling is changing quickly. Back in 2006 legislators brought in the UIGEA, or Unlawful Internet Gambling Enforcement Act. The hope was that the legislation would ban online gambling via banning financial institutions from handling gambling related transactions. Banks were tasked with the responsibility of seeking out, flagging and denying any transactions that were related to online gambling. The plan didn’t work well. Banks were scared of the possibility of being fined so they swept every activity that even mildly resembled online gambling into the realm of illegal activity and denied it—even activities that by all accounts should have been treated as legal.
In addition to banks being too staunch in the rulings, online gamblers also fought the UIGEA. Because they were unable to gamble via US-based casino websites they moved their gaming to offshore companies. Of course, this meant that they also took millions of dollars with them and moved them out of the country. In 2009, Congressman Barney Frank noted what a huge failure the UIGEA was and noted that despite it illegalizing gambling, it never even defined what the term “gambling” would include. His goal was to focus on rewriting laws that would allow gambling to enter the country legally and be regulated by the US. Over the following months he worked hard to come up with the proper legislation and rules that would allow gaming into the country and allow the country to benefit from the millions of tax-revenue dollars that are at stake.
Many other legislators are moving in on the issue. They see the benefit of online gambling’s legalization and understand that there are millions of dollars at stake. If laws can legalize and regulate the activities, then the US can take advantage of the huge dollars and try to recover from their own deficits as a result of the recession of 2008-2009. Only time will tell just how far the laws are pushed and how much of a benefit they will be over the long hall. It may take years to know fully how much of a benefit the games are to the economy, but legislators are sure that this is a good move to shore up suffering state coffers.
Tags: Frank, legal, legislation, regulate, UIGEA
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Thursday, July 29th, 2010
There are a huge amount of changes in the market of online gambling throughout the entire world. Take the US for example, legislators are working overtime to create laws that legalize gambling, but regulate it thoroughly. One of the biggest issues is that opponents of the move believe that legalizing gambling without the proper regulations is an open door to an increase of gambling addiction increases, rises in foreclosure and more crime in both internet and communities with casinos. It is a difficult time in the market for the US as lawmakers continue to debate out the top issues. Though there are hefty arguments on both sides, the overall belief is that gambling will be legalized in time. There are too many millions of tax-revenue dollars at stake and the US legislators are most likely not going to pass up the almost inevitable increase in revenue.
Another location that is focusing heavily on the issue of gambling is Israel. It isn’t as positive about the move though. Israeli online casino gambling is all but eliminated due to bans of offshore and domestic gaming sites from marketing to Israeli gamers. Currently there are only two types of wagering allowed in the country and online casino transactions are not one of them. There is a national lottery that is organized by the country and a small division of sports betting. Beyond that, there is no gambling activity to speak of. Despite the bans and overall denial of online gambling, gaming companies are still pushing forward trying to attract customers from the country. Legislators in the area are worried and trying to shore up rules and regulations to avoid confrontation from residents on the issues. It seems as if Israel is repeating the mistakes of the US by trying to regulate online gambling. if you recall, in 2006 the US made its first move for banning and instead of it being effective, it backfired. Gamers were determined and moved to offshore gambling for their gaming needs. If history is to repeat itself then Israel will feel the same repercussion from residents. They will move their gambling to other areas of the world and those other areas will most likely embrace them with open arms.
Tags: gan, illegal, Israel, legislation
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Thursday, July 15th, 2010
Once the player realized he won, he was stopped prior to payout. It was only until then that the casino checked his name and found him to already be signed up on the self-exclusion list. The incident made headline news though because it shows a flaw in the system. If one person who self-admittedly has a problem requested that state casinos deny him or her access and that system failed, how many more times has it failed? If the system is allowing gamblers to play despite their wishes, then the rules need to be revisited for modifications. Some opponents of gambling in the state are citing this one incident as a sign that things are not working. Though the communities cannot go back on their laws, they can reword them.
One of the primary focuses of writing gambling laws was to protect players. Opponents cited that bringing legalized gambling into communities may be too much of a temptation for gamblers. Their primary issue was how casino operators were going to protect addicts and build safeguards to help them with their problem. Would casinos be able to police those with potential problems? Would casinos be able to keep them off of the casino floor? Would the system work, or were operators just pushing for the laws to go through so they could start collecting money?
The other issue with people on the self-exclusion list being able to gamble is that if they are, they are gambling with no possibility of winning. A player could wager hundreds, even thousands, before he or she wins and the casino is aware of their position. That means the casino would take the wagered money from players who have no chance of walking out of the casino with a win. It’s a win-win for the casino. If a player on the self-exclusion list wins, the casino operators could refuse legally to pay them on the grounds that they should have not been wagering in the first place. It is a deep issue and obviously not a well thought-out one. It will take time to shore up rules and ensure that those who don’t want to gamble are not allowed onto the casino floor.
Tags: casino, gambling, legislation, PA, Pennsylvania
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