Is This the Year Congress Regulates Online Gambling?
18 August 2011
More rumors? More hope? Possibly, but it seems there is a chance that a bill that seeks to legalize online gambling in the United States could be headed to Congress by year end. It seems the momentum is building towards federal legislation with online poker leading the way.
According to Roger Gross who is the publisher for Global Gaming Business magazine, the only issue will be how it is structured. Gross was quoted as saying, ““I think there is becoming a feeling in Congress that this is something that needs to be regulated and be done. I believe there is a possibility a bill will pass towards the end of the year.”
Lately there has been increase in pressure in Washington starting with the Senator Harry Reid and Jon Kyle asking the Justice Department to stop the state’s efforts in trying to legalize online gambling. Las Vegas Sands and Caesars have been very vocal as of late calling for federal regulation and shoring up deals with big online gambling software providers.
Even during the debt ceiling debate last month Senator Jay Rockefeller proposed regulating online gambling and his estimates were it would raise an estimated $41.8 billion over 10 years, and an estimated additional $30 billion for states.
There are bills currently in Congress that could be ready to go to a vote by end of year. Those who are proponents of gambling online have been in this spot before though. Waiting and hoping that this year will be the year Washington steps up and follows through on the rumors. Maybe this year…
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