Online Gambling: States Wager The Fed Will Fold
29 November 2012
As we head into lame duck season, it seems less and less likely federal regulation of online gambling will make the cut on Capitol Hill’s already loaded docket. With the looming fiscal cliff and other heavily-weighted issues, it appears Congress has bigger fish to fry.
Some states, meanwhile, refuse to sit on their hands. Or potential revenue.
Whether the push toward the legalization of online gambling is to protect constituents who gamble on international gaming sites or to drive individual state revenues, either way, several states are attempting to drive the legislation home.
It’s important to note that most of the states considering legal online gambling will have an uphill battle themselves; of the seven states wanting to jump on the revenue wagon, only one–Delaware–has managed to authorize some form of it. Even the American Gaming Association doesn’t believe a state-by-state solution is the answer. In fact, according to the Washington Times, the AGA supports the draft bill from Senate Majority Leader Harry Reid, Nevada Democrat, and Senate Minority Whip Jon Kyl, Arizona Republican, that would make all online gambling illegal, except for online poker, which is widely recognized as a game of skill vs a game of chance.
As states consider gambling revenue outside lottery tickets, debates are warming up around the country about gambling in general. The state of Maryland recently approved the addition of table games to its existing casinos by popular vote; the vote also approved adding another brick-and-mortar casino to its ranks, likely in the vicinity of its new National Harbor landscape.
Supporters of a federal bill will have to use all of their lucky charms if they want to see something happen during the lame-duck session. As it is, we could be in for a year of a boom of state-regulated gambling growth.
14 May 2010Canadian Man Pleads Guilty in U.S. Online Gambling Charge
Douglas Rennick, a Canadian man, has pleaded guilty to a count of processing offshore bets of U.S. citizens. Originally Rennick was looking at a charge of conspiracy and bank fraud. He had allegedly laundered $350 million dollars for overseas internet gambling companies. Rennick was indicted in August and on Tuesday entered a guilty plea to the one charge in New York Federal court. Part of the plea was forfeiting $17.1 million and a possible prison term of 6-12 months.Read full article
02 June 2010France to Award 30 Licenses for Online Gambling
Today the government of France approved a new online gambling bill. The bill passed the French parliament by a narrow 299-233 vote. The French will grant only 30 licenses to operate online casinos and poker rooms within its borders. Though it is now official and France says that licenses will be granted in time for the 2010 World Cup, not everyone is excited about the French market.Read full article
09 June 2010France Issues 11 Licenses For Online Gambling
France acknowledged that 11 companies have been granted license and have been registered to conduct online sports and horse race betting as well as online poker within France. According to Arjel president Jean-Francois Vilotte, the regulator of gaming in France, “There were 35 requests for licenses and we have retained 17 at this stage. None have been formally rejected.Read full article