Posts Tagged ‘legislator’
Wednesday, December 15th, 2010
Online gambling in the US is moving forward. There was a question for a long time that gambling would not be allowed in the online market within the states. There are still sides drawn up against each other on the issue. On one hand there are legislators who are concerned about budgetary shortfalls and the deficit. The recent recession did not leave the country in a positive financial state. In fact, there are still a lot of problems to overcome in the market. This is why some legislators believe that with the added money from tax revenue dollars thanks to gambling online being legalized, the country could overcome shortfalls that much quicker. On the other hand though is a group of legislators with equally as convincing an argument. They believe that legalizing online gambling would do little to help the country protect itself. Though they acknowledge that there would be added funds to work with, a portion of those funds could have to be allocated for fixing problems gambling creates. For example, a city with online gambling legalized could bring in $20 million per month in added revenue however, if that initiative creates thirty-thousand new gambling addicts, where would they go for treatment? The city would have to allocate a portion of that $20 million to helping expand its gambling addiction centers and making them more accessible to everyone in trouble.
New Jersey though is a state that is opting towards online gambling’s legalization. Legislators recently approved a bill that would allow for bringing online betting rooms to the citizens of the state. Though the UIGEA is still in effect, it is up to individual states as to what they want to do with gambling and how they want to manage it. New Jersey of course is struggling with its Atlantic City location having drastically diminished numbers since the recession. Legislators are hoping if they open the door to improving the online market, they can bring in the revenues they are losing from the problems with Atlantic City revenues. Only time will tell what is going to happen and if this online gambling initiative is going to go through as planned, but hopefully the state will have some way of reviving its own flailing casino market.
Tags: bill, legislator, New Jersey, UIGEA
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Wednesday, December 1st, 2010
If the US is to implement a new gambling law then its legislators have to be ready to come down on illegal operations. It is no secret that most anti-gambling activists believe that the legalization of gambling would inevitably bring in more instances of crime, corruption and addiction, along with money laundering, theft and overall a rise in criminal activity. They may have a point, but no one can say for sure what is going to happen. One thing that legislators are aware of though is the push for legalization. They are warning that without the proper regulation though, there could be more problems to deal with. Already countries around the world have had to create special task forces to monitor casino gambling activities alone—they are funded by the states involved and put a specific list of policing agents on finding and eliminating illegal activities regarding gambling. Criminals know how lucrative gambling is—and always has been throughout the years. They know how to bring in illegal games. For example, recently in Denton, Texas an illegal slots ring was broken up. The owner was running the “slot parlor” out of a side room off of his garage. Patrons reported the illegal activity anonymously and police moved in to break it up, but not before realizing that hundreds of people had been duped. The owner set up the machines to never pay out. That is the main problem with unregulated and illegal locations—there is no way of protecting the gambling public that participates and supports them.
In the future expect more legislators to continue dialogues on how to form task forces that are going to monitor, uncover and disband illegal activities regarding illegal gambling. Now that it is a hot topic in the market, you can expect that more and more gamblers are going to be coming together to be taken advantage of. They think they are getting a deal, but don’t realize that these are unregulated and the owners of these illegal casinos can do whatever they want with the games to dupe players out of hundreds of dollars over time.
Tags: anti, debate, gambling, legalize, legislator, pro
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Tuesday, November 30th, 2010
Legislators are working with gambling laws in the US. There are many people who want to change things, but the problem is big. So far the UIGEA still stands and that bans banks from processing transactions that deal with gambling. The biggest problem is that banks are tasked with flagging and monitoring gambling activities. Legislators are around who want to change the laws, but they are having a difficult time pushing through bills to amend the UIGEA. So far there are a few key players in the fight, but their goals are to do more than to discuss possibilities. The overall goal is to bring a new bill into the mix or at minimum amend the UIGEA. This new configuration of the bill would allow for gaming companies to operate legally. In turn, they would have access to the millions in tax revenue dollars available. Gamblers were unable to wager in the states and so they moved to offshore companies, taking their millions of gambling dollars with them. Legislators look back at that time and realize how much they lost in terms of revenue and how it is unrecoverable at this time. Still—some are pushing for changes that will take advantage of the tax revenue dollars coming in via gambling.
The changes aren’t coming as quickly as hoped for though. Legislators are pushing for a passing of a new bill that would change the laws, but the timeline is not as hasty as wanted. If the issue isn’t sorted out in the near future, it seems that it may be shelved for another two years. That is two year’s worth of gambling dollars that would be fueled out of the country. Gambling is a billion dollar business and is expected to more than double in worth in the next four years, so that leaves the US as a loss of billions. If something isn’t finished soon, this is going to be the outcome and legislators will lose the advantage of millions of tax revenue dollars. Post recession, this is not a good time to pass up the money. It would do a lot for turning the market around that much quicker.
Tags: bill, legal, legislator, UIGEA
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Thursday, November 4th, 2010
More and more countries are moving towards legalized gambling and it is a sign of where the market is going. The gambling market is taking over and making huge dollars for operators. This is fueling gambling to a new level of popularity all over the world. Now the Netherlands are weighing in on their views of gambling. The country’s legislators are making moves to regulate online gambling, stating that prohibition isn’t working. This is a mistake a lot of countries, including the US, have made. They believe that putting a ban on gambling will cause people to stop wagering. History has proven that this is far from what will happen. Just look at the US UIGEA. It was meant to ban internet gambling but all it did was push US gamers to use offshore companies, and in turn fuel their money into other economies. In the end all the US did was to push money out of the country and that money is non-recoverable. Now the legislators are left to scramble and work through their own plan for legalizing online gambling but US gamblers already are playing in mass numbers at non-US gambling websites. This is pushing billions out of the country.
Legislators in the Netherlands don’t want to be in that same boat. They are working to expand their online operations and hoping that creating legal gambling will push illegal operations out. If there is some workable regulatory system, then criminals will be forced to close up shop if their market is gone. It is somewhat an unlikely place for gambling to take on a new form. Holland is by no means a “gambling hub” of the world and it is interesting to see a relatively small country pushing for gambling’s regulation in a big way. They believe that the people of the country need to be protected first and foremost. If that means creating a viable gambling plan, then that is what is prioritized on the desks of legislators. So far they have made strides in the market, but expect the next few months to be telling of where they are going to take the market. Either way, expect gambling to be regulated with a viable plan sooner than anticipated in the Netherlands.
Tags: Holland, legal, legislator, Netherland
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Friday, October 29th, 2010
The question of online gambling and its legalization in the state of Maine has been up for debate for almost a decade now. It was back in 2003 when the question first came up on the ballot. There were referendum votes included in the issue for that time but only one time did the referendum end up passing. It was in 2003 when voters decided that Hollywood Slots Hotel and Raceway would be well served in Bangor Maine. Now a casino in Oxford is the next idea up for vote by the public. This time there is some debate though. Oxford County Casino is financed by Penn National gaming and that means that it is going to be big. In fact, the Oxford County casino is scheduled to be a $165 million business that brings some of the best gambling to the area. No longer is Maine willing to sit back and wait for gaming to come in—rather the state is pushing for its own gambling initiative and hoping it happens with voter approval. Voters are enamored not only with the long list of revenue streams a new casino will afford them, but also with the job possibilities that a new casino offers. It’s no secret that the markets are suffering with the unemployed. For months now workers have been put on hold and had to sustain themselves with unemployment wages. It would be a huge advantage to the market if they were able to come up with a plan for implementing gambling in addition to the already up and running Hollywood Slots casino.
Hollywood Slots Hotel and Raceway has already made waves in the market. It opened recently to a long list of gamers who wanted to come in and test their luck at the games. The casino was a huge draw in the first weeks of operations and it has already proven to be an asset to the communities surrounding it. Namely its slots parlor is one of unparalleled proportions. The slots parlor is one of the best new casinos in the market and offers a lot of gaming fun to any visitor. If you are in the Maine area, visit Hollywood Slots Hotel and if possible the new casino that may be erected. Overall the state is pushing for premiere gambling and this could prove to be an asset for everyone involved.
Tags: gambling, law, legislator, Maine
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Tuesday, October 26th, 2010
Washington is a state that is not budging on the issue of online gambling. there are many states right now that are considering legalizing online gambling because of the sheer numbers. Consider that gambling is a $3-billion business and is expected to more than double in the next four years. It is a market that is quickly taking over and offering states everywhere the chance at huge tax revenue dollars. States are still burdened with big deficits and shortfalls in the budgets, so they need some activity that could considerably increase their revenue stream for the next few years. What better activity than gambling? A good gambling initiative can bring in millions in tax revenue dollars every month. Most states are not in the position to turn down money like this and don’t want to. Their legislators want to capitalize on the money, but they want to do so with proper regulations and safeguards in place to protect all parties involved.
Washington isn’t budging though. The state has decided that the activity is illegal within its borders. Many people are appealing that decision, but it seems like everything is at a standstill right now. One of the biggest poker websites Poker Stars is pulling itself from the state as a result and that alone could mean losses of millions of dollars. The Supreme Court however stands firm on its decision and Poker Stars has no other option. They are withdrawing their real-money poker playing games from the market. Players how have real money accounts can request their funds be cashed out. They can still play with the same accounts, but it won’t be for real money. Any gaming at the website will be for fun only. The company also stated that until the laws are changes, they will continue to operate in this manner. Only time will tell whether or not the state opens the door for online gambling and changes its mind on the issue. There are millions of dollars to be had, but for some legislators this is not enough to sway them. Possibly the only thing that will change the issue is the public if they vote for changes to happen in the market.
Tags: anti, illegal, legislator, WA, Washington
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Sunday, October 24th, 2010
The world of slots is expanding rapidly in the market and that is bringing a lot of growing pains to various economies. In New York there are issues now with the Seneca Tribe of Indians. The tribe of course has been operating financially thanks to slots games. For years now they have offered slots at their casino and have had a great payday with how lucrative the games are. Gamers in the state and outside of it visit their casino often due to the great gaming floor and vast array of activities the casino offers. The tribe is able to offer slots because of a pact made with the state of New York. The state’s officials agreed years ago to allow the tribe to operate all of the slot machines in their borders. They have committed to let the tribe have exclusive rights to slots and benefit from them. Of course in return the Seneca Tribe pays the state a portion of those revenues and also pays for all regulatory expenses incurred in association with the gambling laws. This is a plan that has worked successfully for years…until now.
It seems that the state made a change a few months ago and began allowing select private businesses and race tracks in the state to operate slots too. Most likely the decision was made due to greed. The state’s officials figured if they are making millions on one tribe’s casino, then why shouldn’t they open the door to slots in other locations and make multi-millions? This would be fine except that the tribe has exclusive rights and has a formal agreement to prove it. By allowing other slots gaming casinos to enter the market, the state is allowing the tribe’s revenue stream to be compromised. Things in the world of gambling are already highly competitive. Casinos aren’t seeing the same numbers they did pre-recession and that is making gaming companies fight hard for their market shares. This move allows other companies to move in on the market and the tribe is suffering even more in numbers as a result. The tribe wants to hold the state to their former agreement. In an effort to be hears, tribal leaders have been holding back paying the state. Legislators are finally listening.
Tags: Indian, law, legislator, Seneca, tribe
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Monday, September 13th, 2010
Costa Rica has online gambling but for the most part legislators of the country have been very negligent when it comes to monitoring it. This is one of the problems that online companies are having. They have already spent years establishing a market in various countries around the world. Perhaps their roster of member countries brings them a few million dollars. Now that laws are changing, those dollars are at risk. If countries change their laws, some casino companies may be pushed out of the market. Par of the other problem is that because of the relaxed rules the contry has, many companies have moved in on the amrket. They are taking full advantage of the gambling demand and capitalizing on the millions of dollars to be had. It’s been a while too– so companies are worried that they are going to have to let go of some of that market. It isn’t a small loss and gaming companies are having problems with sorting out what they are going to do as laws change.
Now Costa Rica’s legislators are concerned that they need to play catch up quickly. So many gaming countries have moved in on the territory that it has negatively affected the government’s controls. Due to companies running rampant, the government is going to have to start looking at the companies already solidified in the market and change the regulations for them to operate. It may take some time to figure out what to do and it certainly is going to take time to get a harness on the companies that are already used to bein gin the market. Those companies are not going to leave the country easily and most likely are going to work with Coasta Rican legislators as much as they can to continue marketing to the country’s good sized gambling market. Only time will tell what does happen, but most likely the government will do the same things that other countries have done to manage gambling. It will introduce stiff financial requirements for companies and to stay in the business they are going to have to comply. Licensing and fines are going to be too tools that the government mos tlikely is going to bring to the market within the next few months as gambling in Coasta Rica is regulated.
Tags: Costa Rica, gambling, law, legislator
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Monday, September 13th, 2010
There are many countries debating the legalization of online gambling. There are billions of dollars to be had in the market and that is proving to be too big a price tag for legislators to pass up. The reality is that if people cannot gamble in one country, they will find other countries to wager in. That means that governments that are staunch against online gambling will merely be losing billions of dollars and channelling them out of the country. That is proving to be too big a loss for governments in today’s market– especially after the recession that made it difficult on the markets worldwide.
So now it is leaving online companies in a great position. The US for example is one country that is moving towards legalization and most likely going to come to some agreement within the next few months. Namely it is Senate Majority Leader Harry Reid who holds the key to legalization of gambling in the US for online gamers. He is believed to be the integral part of the puzzle who can push the market forward. Reid is a Nevada politician and is very much on the side of the state’s best interest. He has made it clear that he is focused on what will benefit his state and will make moves accordingly. Initlally Nevada gaming casinos were concerned that Reid would legalize online gambling at their expense- they would then have to share their markets with a slew of online gambling companies. They beleived that this would surely cause a deline in their revenues and pose problems for their own businesses. Reid assured that though he is in support of online gambling, he also wants to make things as fair as possible for companies already established in the land-based industry within the state. His main goal is to protect Nevada’s economy. Though it will be difficult, he most likely will find a way around the issue that protects his state. Nevada was one of the hardest-hit states when the recession occurred. It is still reeling and looking for recovery since the recession and millions of people in the state are still struggling.
Tags: legal, legislator, Nevada, Reid
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Wednesday, August 18th, 2010
Many states are working with gambling laws to bring in the revenue they need. It is one of the few viable options when it comes to bringing in millions of dollars consistently. The problem with other industries is that they offer much lower revenue and it isn’t consistent. Gambling on the other hand, if used properly is going to provide billions of dollars over the next few years. States are setting up new casino locations for full service gambling throughout their borders. One lesson they learned was that if they don’t provide gambling, then neighboring states will. One of the biggest mistakes regarding gambling was made by the US. The US instituted the UIGEA back in 2006 in an effort to ban online gambling. Did it cause people to stop gambling? No—in fact all it did was cause US gamblers to move to offshore gambling locales and in turn channeled millions of dollars out of the country. State legislators watched the mistake and are hardly itching to make the same one. It could cost them irreplaceable income streams.
Because of the problems the federal government had due to trying to ban online gambling, states are taking notes. They want to be able to institute online gambling law but still minimize the problems that come along with it. It may take some time to flesh out rules due to the intricacies of the market. Gambling is lucrative—that’s the reality and there are billions of dollars at stake if states don’t take advantage of it. In the end, it may be that legalizing gambling may bring more than a few positive results. Not only will states have millions of dollars but they also will be well attuned to negotiating. Legislators have negotiated for years over gambling law—there are the obvious opposing sides, but there are also smaller debates within the issue. How should be gambling be regulated? What specific laws need to be instituted? Are those laws applicable to every state, or should they be modified depending on the state’s individual needs? Questions like these have to be answered before true gambling regulation comes about and is effective.
Tags: legislator, states, UIGEA, US
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