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According to the Federal Bureau of Investigation, it's better not to gamble online. In fact, the FBI states unequivocally that online gambling in the US is simply illegal, no matter what. This doesn't mean that gambling is illegal in the States, or that it's impossible to gamble online there. It just means that players need to know the rules, regulations, and loopholes before getting started. The first thing to remember is that, while there are some Federal laws that apply to online gambling, this is an area in which most regulation is left to the states. In some states, like Alabama, gambling is simply illegal altogether. In others, such as Michigan, casino gambling is legal, but only if the casino operator has a state-issued permit to operate the venue. And finally, Nevada and New Jersey have simply legalized casino gambling. In all of the states, Indian reservations can and do set their own gaming regulations, since the tribes are not bound by state or Federal law. What does this mean for the players? It means that online gaming is a gray area. Congress passed the Unlawful Internet Gambling Enforcement Act of 2006, forbidding financial servers from processing payments to online casinos, and the founders of NETeller were arrested under the Act's provisions in 2007, but for the most part, ordinary citizens who gamble online, while they risk losing their casino account to Federal seizure, generally do not court arrest. This is because Federal laws against online gambling approach the subject from two directions: from the financial end (UIGEA 2006) and from the service provider end (old wire-transfer regulations are used to prevent online casinos from handling bets in the US). The law hasn't caught up with individual gamblers, yet. So, while the FBI is right to say that online casino gaming is illegal in the US, they are not completely right. But they are the ones who enforce the laws at the Federal level, making their opinion one that counts.
Joint academia forces between the University of Western Ontario and the University of Nevada at Las Vegas, revealed the telling habits of online gamblers in a recent study. According to the information, Internet gambling has the highest rate of participation with 25% of players logging in weekly and over 50% on a daily basis with poker being the game of choice. Players polled were 20 regular casino gamblers and 10 regular online gamblers. Betting online is shown to have a higher risk potential to becoming addictive than land based casino gambling, where online players can hide their habits more clandestinely, as well as offers a certain level on anonymity not found in casinos off-line. The study shows that gambling online quickly becomes a daily part of their lives, sometimes for more than 8 hours a day, and brings out their more competitive and aggressive sides. Legal ramifications Excluding the USA and Canada, there are over 90 jurisdictions globally that license or tolerate online gambling. Following the 2006 UIGEA, an act that prohibits the transfer of funds from any private financial institutions to any Internet gambling sites, many major players such as PartyGaming have taken a significant hit. Globally, online gambling is worth more than $15 billion annually. Michael Lipton, a Toronto gaming law specialist stresses that regulating the gambling industry would provide a tax revenue for governments and other social welfare programs. One has to wonder why governments are so dead set against private citizens spending their own money on personal pursuits - instead they want that money to go towards programs of their own choice without or without the gamblers consent.
The Weekly Edition, an OCR Live! production in which Kate brings you the headlines for the past week, including. USA Today Speaks Out Mainstream media speaks out on the US gambling ban. This week it was an Op-Ed on the USA Today website. Pro-Regulation Survey An academic study recommends regulation. The study, by University of Nevada Las Vegas and University of Western Ontario has players' safety in mind. South Africa Enters Market The Rainbow Nation's Gambling Amendment Bill awaits only one signature before online gambling is wholly legit in the African nation. www.Onlinecasinoreports.co.za And our new sister-site caters specifically to the South African gambling community.
PayPal shocks its client base In a move that some observers have described as nothing short of shocking, the online banking services company PayPal has provided privileged client account information to the US Inland Revenue Service (IRS). The IRS requested details on various accounts connected with the use of offshore credit cards. As a result of PayPal's action, some online gamers have received notices from the IRS indicating that their accounts were under investigation. The hunt for unclaimed income The common understanding of commentators on online banking connected to the gambling industry is that such investigations are being used as a ruse by the IRS to access persons with unclaimed income. There is some suspicion that the IRS investigation may have little to do with online gambling at all, as proposed by Edward Leyden, the president of iMEGA, the Interactive Media Entertainment & Gaming Association. Leyden states, "This appears to be part of a larger IRS investigation that commenced several years ago of tax issues involving Americans holding credit cards issued by banks located in places the Treasury Department considers to be potential 'tax havens'. While i-gaming concerns certainly may become caught up in this effort, this does not mean that Internet gaming in the primary target of the investigation." PayPal's raw nerve PayPal had been an accepted payment conduit for online gamblers until it was fined by the now disgraced Attorney General Eliot Spitzer in 2002. PayPal was indicted on the count that it had supplied services to offshore gambling sites in contravention of the 18 US Code 1960 that prohibits fund transfers "derived from a criminal offense", and 18 US Code 1084 that refers to the transmission of information on wagers. A settlement of $10 million was paid by PayPal representing the profit it had accrued from its involvement in illegal gambling activities. In addition to the settlement, PayPal committed to initiate an in-house corporate compliance program for at least two years. It is clear why PayPal was eager to comply with the latest IRS request for information given its previous settlement payout.
Tax revenue crusade James McDermott, a democratic congressman from the state of Washington, has recently submitted a bill to tax the winnings of online gamblers. The act, entitled "Investing in our Human Resources Act of 2008" is seen as killing two birds with one stone. The first bird comprises an attack on gambling, seen by many as evil and corrupt. The second bird involves estimated tax revenue of $40 billion that would be spent on a series of social and educational programs. The tax money would be earmarked for educational and job-training programs for former foster care individuals as well as programs for those workers trapped in industries seen as outdated or uncompetitive. Poor congressional support This bill is McDermott's second attempt at taxing online gambling. His earlier effort took place in 2007 when he authored the late, lamented Internet Gambling Regulation and Tax Enforcement Act, or IGRTEA. This bill was bandied about by various members of Congress until it was finally rejected as unworkable. Further attempts at penalizing online payment systems used by members of the online gambling fraternity have likewise run their course making little impact on the gaming industry. Lip service from the gambling fraternity Deciding to opt for a diplomatic course, members of gambling organizations have cautiously welcomed McDermott's bill. Not wanting to fall foul of any move by Congress to raise taxes for worthy causes, senior officials of organizations such as the Poker Players Alliance (PPA) have given the bill a favorable nod. John Pappas, the Executive Director of the PPA stated, "McDermott is on the tax writing committee in the US House of Representatives and he's been an advocate for extracting revenue from Internet gambling. The PPA hasn't had an opportunity to review his proposal thoroughly, but we like the out-of-the-box thinking to be able to connect the benefits of legislation to a worthy cause."
888 Holdings has long been known as a leader in the online gambling world. With its affiliates, in the poker, bingo, and sports betting niches, 888 has shown creativity and ingenuity in adapting to the ever-changing environment of the Internet, and consistently given its customers one of the best gaming experiences available. In the wake of the UIGEA, the US Congress's 2006 law aimed at closing the market to US players, these strengths have helped 888 on its road to recovery. Transition year Describing 2007, the first full year of operations after the Congressional action, as a "year of transition," 888's chief executive is optimistic about the future. While the casino saw its player base halved in the short run, revenues and profits have rebounded well in the UK and European markets. The 'niche' branches, bingo rooms and sports betting especially, have shown strong performances in the last year. The industry at large What 888 Casino has experienced is a microcosm of how the online gambling industry generally has done in the last 2 years. Yes, there was a hard hit in the fall of 2006, when the UIGEA took effect, and yes, the largest market was severely reduced. Many casinos simply pulled out of the US market altogether; others have tried to edge their way back in. Both reactions were risky, and neither has brought the industry back to where it was. There is room of optimism, however. The recovery in industry growth and profits has regained much of the ground originally lost. By switching to the UK and European markets, the online gambling industry has also, albeit unintentionally, taken advantage of the sagging dollar; profits in pounds and euros are naturally higher when converted to dollars. And the casinos continue to diversify their game offerings, and attract new customers. The road ahead For the player, this recovery means that 888, and the online casino world generally, is here to stay. Governments may act to regulate or restrict the casinos, but if enough people want to play, than it simply cannot be prevented. For the casinos, it means that while there may still be a long road ahead, to match the pre-UIGEA performance, the hardest part of that road may now lie behind.
If you play poker at any competitive level then you know the name Phil Hellmuth. A poker player extraordinaire, Phil was the youngest Main Event winner in 1989, holds 67 cashes, and holds the record for the most cashes, which incidentally, includes four from this year’s World Series of Poker. A true Master of the Bluff, Hellmuth walked up to the WSOP table escorted by eleven military clad models each of whom represented one of the 11 championship Texas Hold'em bracelets he currently holds. UltimateBet has recently been in the news, rather negatively, fending off suggestions of a cheating scandal, poison for any online gambling business. But now, with the help of Hellmuth, they are bouncing back on their feet with the dramatic announcement that Hellmuth is offering a new poker strategy video series, ‘How to Win the World Series of Poker’ through his website, for $59.95. The video instruction series can be downloaded from Hellmuth’s website and the poker master reveals the secrets of his success, including details of the many and varied strategies that made him an eleven time winner at the World Series of Poker. The video series in not only for high rolling poker tournament players, it includes tips and strategies for everyday poker players with additional information and tips on tournament play. Hellmuth covers strategies for all types of poker play in this series, and players at all levels of play will benefit from his advice. Hellmuth has made poker ‘How To’ videos in the past and three previous videos – the Phil Hellmuth’s Black Belt Poker Course series – have become staples of serious poker players around the world. Phil Hellmuth and Annie Duke assisted the developers in designing the UltimateBet site and the poker games that they offer. The site has a current membership roster that tops two million players.
Irish online bookmaker Paddy Power has launched a new betting game called Eggycam, with the proceeds of all betting going to the Down Syndrome Ireland Charity. The game, screened live through Paddy Power's special Eggycam website, allows viewers "to watch the eggscapades of ten eggs over approximately 21 days as they eggscape from their cracking shells suits." The main betting centers on which chicken will be the first to break free and leave its egg shell. Naturally, the odds are fairly even between all 10 eggs, with only egg 8 breaking away from the pack at 13/2, while all the other eggs remain fixed at 8/1 or 9/1. Bets can also be made on second, third, fourth, fifth and last chicken out. Like any good gambling-oriented competition, there are a variety of other betting options available. There are head-to-head matchups between selected eggs, predictions on whether the first chicken out will be odd- or even-numbered, betting on the hatching times, and even the sex of the first chick to hatch. The Eggycam website contains lots of features for those punters who want to go the extra mile in researching for the competition, including videos from "the eggsperts", a blog with all the latest egg news, and a "getting laid" web page on the origins of the eggs. There are 11 days remaining in the Eggycam competition.
Australian Cadel Evans, who was an odds-on favorite throughout the entire 2008 Tour de France, looks set to have to settle for runner-up for a second consecutive year. Evans failed to make up the necessary ground required of him on Tour leader Spaniard Carlos Sastre during the 20th and penultimate stage - the all-important time trial. Betting for tour winner now takes a backseat at the bookmakers, with the main interest remaining as to who will win the last stage, which ends in Paris' famous avenue - the Champs-Élysées. With the 143km stage from Étampes taking place on flat ground, the tour leaders take a backseat to the sprint specialists. Final stage odds Spaniard Oscar Freire, the holder of the green jersey for sprint leader, is a slight 4/1 favorite at Ladbrokes to win the final stage and clinch the title of sprint champion. Aussie Robbie McEwen, a three-time winner of the tour's sprint classification (in 2002, 2004 and 2006) is 9/2, as is 2005 winner - Norway's Thor Hushovd. Evans and Sastre, considered little to no chance in the sprint, are well back in the pack at odds of over 100/1. Next on the cycling tour For many of the riders, attention now turns to the cycling events - of the track, road and mountain varieties - at the Beijing Olympics, beginning August 8.
PartyGaming Plc., owner of Party Poker and Party Bingo says sales are "slightly" below May and June's expectations. They are placing some blame on rivals who still accept bets from Americans despite the legal issues involved. Dropping an additional 12%, the largest drop in 15 months on the London Stock Market, PartyGaming explains that more money went towards larger bonuses to draw in more players account for this drop according to a statement made on July 8, 2008. Due to the 2006 UIGEA bill, European companies have pulled out of their largest market, the USA and subsequently have been trying to recoup loses ever since. Concerns over whether US authorities may prosecute European companies who accepted US-based bets before being barred, has lent a major hand to the 22% drop in PartyGaming's stock this year alone. Comeback struggle Introducing new web slot machines, heavy promotions and larger cash give-outs have encouraged more players to sign up as of late. However, on their sport betting side, unfavorable results from the European Soccer Championships has once again sunk some of PartyGaming's profit margins. Replacing Mitch Garber as the new CEO is Jim Ryan, who hopes to ignite major changes for the company. Already, first-quarter sales rose 21% after gamblers made more bets on roulette and other casino games while casino sales bumped up 45 percent. Poker climbs at a slow steady pace with 13% despite being the main contributing factor for PartyGaming. First-half figures are expected to be published August 29, 2008.
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