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Twenty-five people from across the US state of Massachusetts are to be recognized by the Massachusetts Council on Compulsive Gambling at the organization's 25th anniversary breakfast in Boston on September 22. One of those being recognized is Edmund Talbot, a former gambling addict who went on to become a licensed alcohol and drug counselor. "I've been in recovery from a gambling addiction for almost 30 years now," Talbot said. "I knew that if I ever had the chance, I'd do what I could to help others." Talbot, who is now a community services representative at a Massachusetts hospital, is being recognized for his personal commitment and professional contributions to the council and to problem gambling, said the Council's executive director, Kathleen Scanlon. Founded in 1983, the Massachusetts Council on Compulsive Gambling is a private, non-profit health agency dedicated to reducing the social, financial and emotional costs of problem gambling. According to the council, studies indicate that about 6% of Massachusetts' general adult population has had some significant adverse effect from gambling in their lifetimes. About 4% (or nearly 250,000 of state residents) have had a gambling problem within the past year.
Overhaul Facebook has recently undergone a massive facelift and the design changes have a handful of users in a flutter. The ever-popular social networking site has seen its membership skyrocket in recent years - it now sports an impressive 100 million users. Facebook founder Mark Zuckerberg admits the new design has some people a tad uneasy. With such a large database of subscribers it is foolhardy to disregard user sentiment. That's why Facebook gradually introduced the new interface over a period of several weeks - to allow for a smooth acceptance of the new site design. But what of the much-loved applications on the site - how will this new design affect them? Texas holdem poker Online poker has made massive inroads on this social networking site and users will be interested to know how the new design will affect their game. Facebook designers have promised greater ease of use with the new portal. Improved user-accessibility to personal applications and layout will allow this highly-rated game to come up trumps, yet again. A backlash would occur if applications were unable to operate smoothly, but that is unlikely to occur. It's all hands on deck as the online gambling community embraces the positive changes and gets their fingers clicking to the drumbeat of Texas holdem poker. According to iLike's chief executive Ali Partovi, "The new direction will tilt things in favor of apps that are more focused on quality rather than on viral tactics." Growth set to continue Texas holdem poker continues to bite into the top rankings as the most favored online application. User interest in the online gambling application has not waned; it's only a feeling of transitional unease with the Facebook facelift. With communication high on everybody's priorities, Facebook looks set to surge forward into the future and with it, Texas holdem poker.
Poker to be excluded from the new act US Representative Barney Frank (D-Mass) is making headway in his fight for the rights of online poker players in the United States. Frank introduced his new bill - the Payments System Protection Act of 2008 - which was passed, and with it greater definition of which online gambling activities are illegal. In addition, the Unlawful Internet Gambling Enforcement Act (UIGEA) will remove online poker, among others, from its lists. Opponents of online gambling include Spencer Bachus and Chad Hills. The pair is vehemently opposed to online gambling, but Frank has been making significant headway in his efforts to regulate the industry since the first bill, HR 5767, was defeated earlier on this year. In that bill, Spencer Bachus deliberately used misplaced and misleading correlations between online gambling and teen suicide. The comeback kid Frank however roared back with newfound resolve recently. This time around, Barney Frank is eager to get the Department of the Treasury to work with the Attorney General to clarify which forms of online gaming are illegal. To this end Pete Sessions and Jim McDermott are pushing for regulation of the online casino industry. Frank will not be deterred by the many zealots opposing online gambling. If the bill passes, it will allow for greater liberty in online gambling while protecting children and safeguarding against money laundering. The public has rights The proposed safeguards include age checking, prevention of identity theft and dealing with problem gamblers. Barney Frank is confident that a greater share of Democrats in congress this fall will allow the bills to pass in 2009. Major financial powerhouses such as the Financial Services Roundtable, the Chamber of Commerce and the Credit Union National Association - among others - support regulation of the industry and are against enforcing an outright ban. Moment of Zen Frank's fight for online poker is not new. This passionate speech, in the video on this page, was given in Congress in 2006, and featured on the Comedy Central Daily Show with Jon Stewart 2 years ago. His words still resonate with us today.
If the current odds are to be believed, English clubs are set to continue their recent success in the UEFA Champions League. Last year's finalists Chelsea and Manchester United are tipped to once again meet in the final, which will be played in Rome's Stadio Olimpico. Champion odds Chelsea, who lost last season's title on penalties to their English rival, has been setting the pace on the domestic scene under new manager Luiz Felipe Scolari. The Blues are 6.00 odds at UK bookmaker Ladbrokes, just ahead of last year's champion Manchester United, 6.50. 2006 champion Barcelona, 8.00, will be looking to make up for the disappointment of the last two seasons, in which the team has failed to win either the Champions League or Spanish League despite the short odds from bookmakers. Also listed at 8.00 is the winner of the last three Italian championships, Inter Milan, searching for their first European title since 1965 despite being perennial contenders. Real Madrid, champions of Europe a record nine times, is 10.00, followed by the last two of English football's power quartet - Arsenal and Liverpool, both 15.00. English odds With English clubs in such a strong position, Ladbrokes has gone all out in ensuring all betting options are covered. The odds on another all-English final are 5.00. Last year's final was only the third time two teams from the same country had met in the final, and the first time the two teams had been English. There is also heavy competition for which British team will go furthest in the tournament, with Chelsea 2.50, ahead of Manchester United 2.75, and Liverpool and Arsenal hard to separate at 5.50. The fifth British team in the competition, Scottish champion Glasgow Celtic, is a long-shot of 41.00. Odds of 21.00 are being offered on the English clubs achieving a first for the competition, by taking up all four semi-final spots. The feat was almost achieved last year when three of the clubs made the semi-finals, but the pairing of Arsenal and Liverpool in the quarter-final draw (ultimately won by Liverpool) meant this could not eventuate.
Lehman Brothers, that stalwart financial institution, a landmark on Wall Street alongside other banking giants such as Morgan Stanley, Goldman Sachs, and Merrill Lynch, has gone bust. The world is stunned. How could such a thing occur? What happened to the government watchdogs and the bank's own regulatory supervisors? Could the financial markets be facing meltdown? It will take many months, if not years, before the recent banking crisis with its credit crunch and toxic mortgage-backed securities runs its course. Nobody can predict the future, but it's likely to get worse before it improves. Many consider banks to have been one of the safest forms of investment for those lucky enough to have savings to invest in the stock market. Buy bank shares, the pundits all cried. There's nothing like investment in bricks and mortar. Wrong, and wrong again... Gambling lessons learned Like any stock market investment, or indeed any investment where the underlying commodity can go up as well as down, shrewd decision making requires technical and fundamental market knowledge. Those people who buy in May and go away, as the old market expression goes, will have had their fingers burnt. Financial investment is not just a one-way street. Without the knowledge, investment in stocks and shares is just like investing in the spin of the roulette wheel, or on the next hand in a game of poker. Nobody can call gambling investing, but playing casino with our investments is precisely what many bankers have been doing in Wall Street for the last ten years.
In its anxiety to impose a nationwide ban on online gambling, the US has soured relations with the European Union. The issue at stake: removing European online casinos from operating in the US. EU officials have slammed the move as discriminatory practice against EU-based companies. The US is desperate to withdraw from its free trade commitments to permit foreign competition from taking a slice of domestic gambling revenues. A European Union delegation is leaving for Washington, DC to question legal and trade representatives about the Justice Department's stance on Internet gambling. Even as European online operations are leaving the US market, the Remote Gaming Association - which represents EU online casinos - submitted written inquiries into the matter. US fails to respond The Europeans have been snubbed by the Americans and whatever the outcome, the damage has already been done. Effectively this means the US is no longer bound as a signatory of the World Trade Organization - which is in direct violation of protocol. Rocky times lie ahead for the US what with the domestic credit crisis and the worldwide stock market crashes of late. America can hardly expect to benefit by shutting out European online gambling trade - the knife cuts both ways. Reform is needed Several leading congressmen have broken from the party line and are urging for regulations that would not only make the Internet safer for children, but also regulate online gambling activity. Among them is representative Peter King (R.-NY). The US has taken the position that online gambling is illegal, although it is allowed in other countries.
Change is coming Chairman Barney Frank finally closed the deal in the House Financial Services Committee on Tuesday. Online poker players will be thrilled that HR 6870 - the Payments System Protection Act - was approved by a 30-19 vote. This effectively means Congress is going to be discussing this in 2009. Frank has long championed regulating the industry, as evidenced by his attempts at halting the regulations of the UIGEA. Back then, Frank and fellow Congressman Ron Paul (R-TX) hit a brick wall, but not this time around. The details The PSPA (HR 6870) expressly calls for the suspension of the UIGEA except under certain conditions, mainly pertaining to prohibited betting. Such activities include pro and amateur sports betting. The bill would prevent banks from permitting betting on pro sports leagues. Further details relate to the formulation of a list detailing what is against the law under the UIGEA. Opponents stand firm The usual suspects in congressman Spencer Bachus came out against the bill. While Bachus appreciated the clarification on halting financial institutions from supporting sports betting, he is against allowing any online gambling in the country. For his part, Bachus has beseeched the Treasury and Federal Reserve to fully implement the UIGEA regulations. Additionally sports leagues have voiced disapproval with the bill, despite there being legal sports books in Las Vegas. Barney Frank admits much work has yet to be done in clarifying the legalities of various online gambling activities. He was quoted as saying: "How people spend their leisure time should not be made illegal or encouraged in a free society. If you're going to impose restrictions using the UIGEA, you're hijacking the banking system. If this bill is passed, I would still like to repeal the law. Under this bill, at least the banks will know what is and isn't illegal." Online poker players raise their glasses Barney Frank introduced an amended bill which included express descriptions of both legal and illegal activities under the UIGEA for submission to financial institutions. An oral vote secured its passing and even Congressman Bachus' insistence on a roll call vote failed to halt its passing. This truly was a day that online poker players raised their glasses in celebration!
Hunter Biden, son of Democratic Vice Presidential candidate Joe Biden, has quit the federal lobbying business for which he was a partner, a Wall Street Journal blog has reported. In a letter released Friday, Biden told Congress he no longer expects to act as a federal lobbyist for the firm Oldaker, Biden and Belair, which represented nine clients, including a law firm representing online gambling magnate Russ DeLeon. Ranked 197 on Forbes' 2006 list of the richest Americans with a net worth of $1.8 billion, DeLeon co-founded the online gaming company PartyGaming. According to a form belonging to Biden's company, the firm made $50,000 for representing Russ DeLeon over just a few weeks earlier in 2008. In all likelihood, these revelations won't have a major impact on the thinking of Hunter Biden's father. As we have previously reported, Senator Joe Biden hasn't made any major statements on gambling, although he did approve the controversial 2006 Unlawful Internet Gambling Enforcement Act, which effectively banned Internet gambling by outlawing the transfer of funds from a financial institution to Internet gambling sites. Democratic Congressman Barney Frank, who has led the group of pro-gambling legislators in Washington, said Friday that the House Financial Services panel, of which he is chair, will move legislation toward overturning the UIGEA.
Who would have thought that Holland, out of all of the Europeans countries would be one to slap taxes onto online gambling operators? This is a result of directives from the new, expanded, and mighty European Union which has set a crusade against monopolies of this kind in their community. Holland is now set to launch legislation that would post heavy taxes onto online gambling companies. This is not always a bad thing, provided the money is invested in the industry itself, but that is not the case here, where the taxes are considered to be punitive. It would appear that the Dutch just have a hard time with the gambling ethos. However, the punishment won't be meted out to the companies directly, but to the gambling public, as the taxes would actually target gamblers' winnings provided those sites were located outside of Holland. This anti-monopoly move essentially strengthens the position of casinos inside Holland proper, which is something the EU is trying to avoid. In addition, the Holland government is in the process of stopping specific companies from operating inside their country. Two of these companies are called Oranje Casino and Unibet. The Dutch are using every means in their power to damage these companies, including moves against the online payment engines that support the gambling companies' activities.
A dispute over American law enforcement against European Union online gambling companies looks set to be fought out at the World Trade Organization soon, a spokesman for Europe's Remote Gambling Association said Wednesday. Lode Van Den Hende told reporters in Washington there is a strong likelihood of the matter being sent to the WTO after EU officials wrap up their investigation into US enforcement of anti-gambling measures. He made the remarks while the EU delegation met with representatives of the US Justice Department and other government agencies on Tuesday. Many publicly traded European companies, like PartyGaming and 888, withdrew from the United States after Congress passed the controversial 2006 Unlawful Internet Gambling Enforcement Act, which effectively banned Internet gambling by outlawing the transfer of funds from a financial institution to Internet gambling sites. The European Commission began its investigation in March to find out whether the US had been particularly targeting European companies. EU online gambling companies claim they have lost billions of euros since the passing of the UIGEA. Rep. Robert Wexler (D-FL), who chairs the House of Representatives Foreign Affairs subcommittee on Europe, said the Europeans' concerns must not be ignored. "I am increasingly concerned that if these disputes are not able to be resolved, it will likely mean costly retaliatory measures will be taken against US economic interests," he said before meeting with the EU team. An EU trade official, who asked reporters not to be named, said the EU team would make its recommendations public in November.
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