Online Gambling News all over the world 04.12.2009

04.12.2009, Harrahs Interactive Entertainment Offers Caesars Palace Online / Hearing Held on Online Gambling in USA / US Banks Influenced Postponement of UIGEA

Harrahs Interactive Entertainment Offers Caesars Palace Online
Harrahs is a name in gambling known all over the globe. Now with the addition of Harrahs new Interactive Division patrons of the trusted casino will be able to play casino games on the internet from everywhere that it is legal except for Germany and the USA. There are few gamblers who haven't heard of the famous Caesars Palace in Las Vegas, well now that symbol of high rolling poker and luxurious casino games is online.

The web site offers a wide selection of games such as Baccarat, Three Card Poker, Craps, Roulette, Caribbean Poker, and Blackjack. Themed from the images of ancient Rome this online casino is going to be a big hit.

Dragonfish casino software will drive the web site with exciting graphics and the feel of the iconic Caesars Palace on the strip in Vegas. For a limited time new players at the new casino can get a huge £500 matched bonus on their first deposit. The VIP program is also being tipped to top any others offered online, with huge rewards for players. Incentive enough to download the software and get playing your favourite games. Harrahs positioned it's new venture in Montreal Quebec Canada close to the USA but out of the country. Mitch Garber former head of PartyGaming runs the show for Harrah's Interactive. Harrah's Interactive Entertainment, is the subsidiary that is overseeing the company's efforts to expand the World Series of Poker overseas and online.

After completing a four-year run as the World Series of Poker's driving force World Series of Poker Commissioner Jeffrey Pollack recently resigned his role with the tournament. According to a statement from Harrahs, " the World Series of Poker remains the market leader with this year's tournament exceeding all expectations, and we are well-positioned for the future. There is no intention at this time to replace the Commissioner role,"

Now that the Caesar's Palace brand is making it's way in the online world of casinos it won't be long before other offerings are put forth by this progressive and leading edge company.

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Hearing Held on Online Gambling in USA
December 3rd 2009 started the committee thinking about the possibility of regulating online gambling in the USA. The live streaming archive is fascinating to watch as each person comes to the table with an agenda and the committee listens and asks questions seemingly without any bias. The against group and the pro group were well spoken and concise.

Internet gambling was the only topic discussed although jurisdiction was also mentioned. The House Financial Services Committee, is Chaired by Congressman Barney Frank (D-MA) who has all along tried to bring the issue of internet gambling to the forefront and has been delayed by the severe financial crisis in the economy being dealt with by the House Financial Services Committee. This hearing must feel very satisfying for him as well as supporting congressmen. As was evidenced in his opening remark, “It is nice to be able to think legislatively about other things besides the financial crisis, which has consumed this Committee since September of 2008.” In a comment that reflected his reasoning for regulation, Frank added, “There are a whole range of things on the internet that we would not like underage people to use. The notion that because some people abuse something, you prevent everyone from doing it is as great of a threat to the individual as any cause I have ever seen.” The ninety minute hearing saw seven witnesses from various concerns from the native bands to the bank. Each had five minutes to express their issues for and against. Regulation seemed be the majority vote for all the obvious reasons. This was a good beginning and hopefully the momentum will carry through and the USA will get a grip on the idea of internet gambling.

The Committee’s Ranking Member, Congressman Spencer Bachus (R-AL), was vocal in his opposition to the proposed regulatory system saying “I believe that internet gambling is, has been, and will continue to be a substantial threat to our youth. Any economic benefits from taxing internet gambling would be more than offset by the harm it causes young people.”

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US Banks Influenced Postponement of UIGEA
The banking system in the USA has enough on it's plate for now. They were part of the recent request by several business sectors in the States for the postponement of the implementation of the Unlawful Internet Gambling Act. The banks are the ones that are to enforce the prohibition by not allowing transactions related to gambling on the internet.

Congressman Barney Frank, Kentucky politicians, horseracing organizations and the Poker Players Alliance seem to be garnering all the credit for getting the US Treasury and the Federal Reserve to postpone the implementation of the UIGEA. The regulations and definitions of illegal Internet gambling are vague at best say the banking institutions which poses problems for the administration of the UIGEA demands.

In a joint statement by the Federal Reserve and the Treasury Department they publicly declared, "The agencies acknowledge some of the challenges regulated entities are experiencing with the act's definition of 'unlawful Internet gambling," "Moreover ..., several members of Congress have indicated interest in revising the Act. The agencies are thus persuaded that a limited extension of the compliance date for regulated entities is appropriate,"

Named among the submissions the Fed and Treasury considered were Wells Fargo, the American Bankers Association, the Credit Union National Association and a large group of businesses associated with the gaming industry in America. CreditCards.com reported in it's latest issue an evaluation of what the financial organizations are up against, "a thicket of confusing and often contradictory definitions and rules." Among other things, the UIGEA never got around to defining the term "illegal Internet gambling."

Of course there was opposition to the delay in implementation of the law from the usual suspects the Republicans. In a letter sent to the Treasury, and the Federal Reserve, Rep. Spencer Bachus, R-Ala., and Sen. Jon Kyl, R-Ariz., they maintained, "Simply delaying the compliance date serves no interest except that of the Internet gambling enterprises that have long evaded American gambling laws and will continue to do so until effective enforcement is in place,"

Über iGaming News:

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