May 19th Set For Online Gambling Hearing
16 May 2010
The House Ways and Means Committee had announced a hearing on tax issues concerning possible changes to the online gambling laws in the United States. The Hearing is scheduled for May 19th.
UIGEA, better known as the Unlawful Internet Gambling Enforcement Act is set to go into effect June 1. UIGEA makes it illegal for banks and other financial institutions to knowingly process payments from or to known or suspected gambling sites.
Rep. Barney Frank has two bills before congress to change the laws in the United States regarding online gambling. One does away with UIGEA and the second one sets up the framework were in online gambling can be regulated and controlled.
Rep. Jim McDermott has a bill that sets up the taxation rates that online operators, state and tribal governments would pay to the United States government. The bill is called the Internet Gambling Regulation and Tax Enforcement Act of 2010.
Next week hearing is an attempt to gather information on the taxation of internet gambling money when and if it becomes regulated in the US.
17 June 2010Virgin Group Setting Up New Game Site
Feel like a little online wagering? Feel like doing it all in the United States? Relax… the chance is here. Virgin Gaming, is announcing on Tuesday, at the E3 video game industry show, that it will be offering video gamers online, a chance to go head to head against others players online and win large cash prizes. To get around the US laws against gambling, they have to make sure that they label their games and games of skill and not chance. That way, it is not gambling.Read full article
16 June 2010Atlantic City Casinos Reject Intrastate Online Gambling
Everything was looking rosy for online gambling in New Jersey after the June 3 3-1 vote by the Senate State Government, Wagering, Tourism & Historic Preservation Committee to pass Senate bill S490 with very few amendments.Now, the very casinos that would most benefit from that very law, have announced through the Casino Association of New Jersey (CANJ), their trade organization, that they do not want the bill to pass. CANJ represents all eleven Atlantic City casinos.Read full article
13 June 2010New Danish Gambling Law Goes Back To European Commission
Due to complaints from land based gambling companies, the new Danish gambling law is headed back to the European Commission for further review.The complaint from the land based gambling companies is that the tax provisions of the new law are unfair.This comes following reports that Danske Spil, the former state online gambling monopoly, would have to abandon it’s online poker b2b deal with the world’s leading listed online gaming company, Party gaming.Read full article