Online Gambling News all over the world 24.08.2009

24.08.2009, Linx Online Gambling Debacle / Nevada USA Proposed Online Gambling Beneficiary / British Columbia Canada to Offer Online Casino Action / Online Gambling Processor Neteller Passes US Justice Test

Linx Online Gambling Debacle
Gambling experts believe Nevada, which legalized casinos in 1931, stands to benefit from the proposed repeal of the ban on online gambling in the USA because the state has investigated and licensed gaming companies and regulated the industry longer than any other jurisdiction. This is good news for those companies in Nevada that are contemplating entering the field of online gambling in the future.

The existing laws and regulatory structure in Nevada created for its land-based casino industry may provide significant potential for online casino operators. The Las Vegas Review-Journal recently reported that gaming regulators say online operators would be subject to the same licensing fees and tax as the land-based operations, rates that are considered among the lowest in the USA. Currently tax for Nevada casinos is 6.75 percent, minimal when compared to other states with rates near 50 percent.

Chairman of the Nevada Gaming Control Board, Dennis Neilander, said, the state's existing laws could easily be tweaked to conform to the proposed federal rules. He added, "We have the enabling legislation in place that would allow us to go forward with the concepts that I've heard are being discussed,"

Greg Gemignani, a Nevada gaming attorney commented, "There are a substantial number of Nevada licensees with experience in the technologies, systems and management of systems that can be used for online gaming,"

Gemignani also said, "Given Nevada's current laws permitting interactive gaming licensing, Nevada is well-placed to be at the fore front of regulating online gaming and providing assistance to the federal government in determining the suitability of applicants."

The casino industry's Washington D.C. based lobby wing, the American Gaming Association, estimates that, Americans wagered $5.9 billion on gambling Web sites outside the United States. The casino industry is split on Internet gambling. and therefore the American Gaming Association has taken a neutral stance on the issue "due to the divergent views of its members,"

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Nevada USA Proposed Online Gambling Beneficiary
Gambling experts believe Nevada, which legalized casinos in 1931, stands to benefit from the proposed repeal of the ban on online gambling in the USA because the state has investigated and licensed gaming companies and regulated the industry longer than any other jurisdiction. This is good news for those companies in Nevada that are contemplating entering the field of online gambling in the future.

The existing laws and regulatory structure in Nevada created for its land-based casino industry may provide significant potential for online casino operators. The Las Vegas Review-Journal recently reported that gaming regulators say online operators would be subject to the same licensing fees and tax as the land-based operations, rates that are considered among the lowest in the USA. Currently tax for Nevada casinos is 6.75 percent, minimal when compared to other states with rates near 50 percent.

Chairman of the Nevada Gaming Control Board, Dennis Neilander, said, the state's existing laws could easily be tweaked to conform to the proposed federal rules. He added, "We have the enabling legislation in place that would allow us to go forward with the concepts that I've heard are being discussed,"

Greg Gemignani, a Nevada gaming attorney commented, "There are a substantial number of Nevada licensees with experience in the technologies, systems and management of systems that can be used for online gaming,"

Gemignani also said, "Given Nevada's current laws permitting interactive gaming licensing, Nevada is well-placed to be at the fore front of regulating online gaming and providing assistance to the federal government in determining the suitability of applicants."

The casino industry's Washington D.C. based lobby wing, the American Gaming Association, estimates that, Americans wagered $5.9 billion on gambling Web sites outside the United States. The casino industry is split on Internet gambling. and therefore the American Gaming Association has taken a neutral stance on the issue "due to the divergent views of its members,"

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British Columbia Canada to Offer Online Casino Action
British Columbia Canada is feeling the winds of change as it becomes the first province in that country to allow online gambling. By next March 2010 the B.C. Lottery Corp. will be up and running online casino action. "Rather than it all going to offshore places like Antigua, there's an opportunity to keep it here in British Columbia," said B.C. Lottery Corporation CEO, Michael Graydon. The B.C. Lottery Corp. says that the move could generate up to $100 million a year in revenue by 2014.

The corporation's PlayNow website, announced that it would be allowing a new limit for gamblers in the province. The limit change was announced on August 17 with plans to raise the weekly limit on the corporation's website from a mere $120 to as much as $10,000. This came with much critical press from various sources. The change was announced in anticipation of the online casino offerings. B.C.Lottery Corporation feels it will be able to gain part of the estimated $87 million that gamblers in the province already spend on unregulated or taxed offshore operations.

Shane Simpson, British Columbia's New Democratic Party critic, said the increase of online gambling limits is "unacceptable." adding, "This has been done with no consultation, as I can see, with people who are concerned about problem gambling," Graydon said, "there are provisions to prevent problem gamblers from losing too much money, such as a 24-hour cooling-off period before they can bet higher limits." The provinces plan to make the playing of casino games such as blackjack and poker online will restart what the USA banned in North America, according to one gambling expert.

Bill Thompson a professor of public administration at the University of Nevada, told CBC News. "It's not new, but in terms of being legal and authorized by a government in North America it will be brand new,"

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Online Gambling Processor Neteller Passes US Justice Test
Neteller which is a division of e-cash processor Neovia Financial has passed the check point in the USA that gives the company a clean bill of health by Justice officials there. Neteller was founded in 1999 and in the UK is regulated across the European Union by the UK government’s Financial Services Authority (FSA).

Neovia Financial PLC is a British global payments company based in the Isle of Man. It is the provider of the Netbanx gateway, Neteller e-wallet, and Net+ debit card products that are used by merchants and consumers in over 160 countries.

The founders of the firm, Stephen Lawrence and John Lefebvre, got into trouble with US authorities back in 2007. This led to Neteller leaving the North American market severing negotiations with US Justice officials. Negotiations were finalized in an deal to give up $136 million USD while pleading guilty to operating an “unlicensed money transmitting business.” and facilitating “unlawful transactions” between online gambling operators and players in the United States of America.

The agreement with the US department of Justice included deferred prosecution for a period of two years, now expired, the threat of any prosecution of Neovia the successor to Neteller has ended.

The US Attorney’s Office for the Southern District of New York has confirmed the expiration of the agreement and has given the Neovia Financial firm a copy of the Notice of Dismissal of the Complaint filed against it.

The Notice of Dismissal confirms Neovia has met every condition of the Deferred Prosecution Agreement and will no longer be a subject of monitoring. Neteller services are now available in Croatia, Jordan, Macedonia, Malaysia, and Oman, adding to it's already huge reach.

Neovia Financial reported revenues of $84 million USD in 2007, 15% up on revenues over the previous year. First half 2008 results were up 18% on revenues over the same period in 2007.

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