iGaming News all over the world 09.08.2010

09.08.2010, Consortium Sues USA Feds Over Online Sports Betting Law / Report Says Argentina's Online Gambling Has Huge Potential / Ontario Canada May Be Next to Offer Legal Online Casinos / PartyGaming Chief Optimistic About US Online Gambling Market

Consortium Sues USA Feds Over Online Sports Betting Law
In the USA the most vocal opponents to internet wagering are the sports organizations. They contend that online gambling on sports will undermine the integrity of the sports clubs and eventually leads to corruption and fraud. In order to get over the fact that there are laws in place that limit and stop sports books from thriving in the USA. One huge hurdle for those who would see sports betting on the net legalized and regulated is the 1992 Professional and Amateur Sports Protection Act. The Interactive Media & Gaming Association (iMEGA), and others, have brought a federal lawsuit against the United States Department of Justice seeking to overturn or rework that legislation. The plaintiffs in the case include New Jersey state senators Ray Lesniak and Stephen Sweeney plus various horse racing groups from New Jersey. The consortium is arguing a case of state’s rights against the current state of American gambling laws.

IMEGA's president Joe Brennan commented, "The government’s argument is filled with contradictions." Brennan added, "For example, the government says that New Jersey is free to pass a law allowing sports betting. Except that there is a federal law precisely making any New Jersey statute unenforceable." The Professional and Amateur Sports Protection Act made it unlawful for any level of government run entity to offer sports betting of any sort. There were four states, Nevada, Delaware, Oregon and Montana, that were exempt from the legislation, making New Jersey the only state impacted by the 1992 law. The lawsuit also seeks to clarify the need for regulation for online gambling. Senator Lesniak has also introduced a bill in the state senate proposing that Atlantic City casinos should be able to offer online gambling in order to alleviate the ever declining revenues of the Atlantic city land based casinos industry. Taxes gained from Atlantic city gamblers and casinos have been a contributor to the economy of New Jersey for decades.

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Report Says Argentina's Online Gambling Has Huge Potential
Knowing where the online gambling market will open up next can be worth it's weight in gold for the entrepreneurs of the gaming industry. Various companies are specialists in finding out that information and making it available to businesses wishing to expand into previously unknown jurisdictions. Senior legal and tax analysts pour over the regulatory information in order for them to get an understanding of the sometimes very complex issues involved in offering an online gambling presence within a country's borders. GamblingCompliance for example is an expert source for impartial and independent gambling news and analysis from a global perspective. Once a business subscribes access is granted to a fully searchable web-based tool with access to regulatory, financial and market news and analysis by region, sector and gaming type.

Recently a comprehensive insight into the online gambling industry in Argentina was presented as a white paper providing the entrepreneur information to determine what the legal implications and opportunities are in operating in this jurisdiction. the report is based on exclusive interviews and primary research from leading industry sources in Argentina.

Senior analyst for GamblingCompliance Francois Peglau has made every effort to make this document as concise and comprehensive as possible. GamblingCompliance's founder, David Morgan, said, "This white paper report is a product of extensive first hand research by our in-house Latin American legal expert, Francois, who has been able to deliver a thorough and unique insight into online gambling in Argentina." Argentina's local population exceeds 40 million people and a passion for soccer and the second-biggest Spanish speaking gambling market in Latin America, which is only surpassed by Mexico. Online gambling remains in a grey area within Argentina’s present legal framework due mostly to it's decentralised legal system and the lack of federal regulation to deal with so called illegal offshore gambling.

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Ontario Canada May Be Next to Offer Legal Online Casinos
Canada is going through the initial stages of setting up provincial government operated online casinos. Recently the British Columbian government had a massive melt down of it's first online gambling offering showing the world that the process is not as easy as it looks. Announcements were made months ago suggesting that other provinces in Canada have similar plans to open the internet gambling door and get in on the action. Quebec and the Atlantic provinces have been taking their time and making sure they will not fall victims to the same problems that British Columbia has encountered. Learning from the experience will prove invaluable for those who follow.

Experts estimate online gambling is growing at a rate of 20 per cent annually and that is a fact that the cash strapped provincial governments can not ignore. The scandal riddled Ontario Lottery and Gaming Corporation took in $1.9 billion last year, after a massive investigation and clean up of the company. Ontario is preparing to make a go of online gambling soon because as politicians have stated they know they are loosing millions to offshore websites offering internet betting options.

The Premier of Ontario, Dalton McGuinty said that “in a perfect world” Ontario would not have to rely on gambling revenue at all but has acknowledged the government needs the revenues. His most recent comments are somewhat hesitant in the wake of the BC initiative, he said, "I know B.C.’s gone there; Quebec’s gone there. And I’ll wait for the advice of the Minister of Finance on that."

Finance Minister Dwight Duncan dodging the issue earlier said it was too early to say whether Internet gambling was in the cards for Ontario, although Ontario Lottery and Gaming Corporation chairman Paul Godfrey said that it about time the province took a look at the potential of online gambling. Online gambling in Ontario could be structured to drive business to the O.L.G.’s flagging land based casinos by granting credits to players for use in those casinos, along with the other offerings by the corporation.

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PartyGaming Chief Optimistic About US Online Gambling Market
In most cases a company would cut their losses and head for the hills if the climate in the nation it was making money in decided th activity should be prohibited and owners will be arrested if business continues. Not so with the ever growing PartyGaming brand which has been working diligently to have a chance to come back to America if the ban on internet gambling is lifted.

CEO of PartyGaming, Jim Ryan, speaking to reporters after the first half financial results were announced, said, obstacles to his company's re-entry to the US market are being addressed. Questions were asked by reporters who were curious as to how the company will deal with the status of founders and significant shareholders Russ De Leon and Ruth Parasol. In the wake of the merger agreement between Party Gaming and Bwin last week it was noted that the deal included a provision that if a shareholder were an obstacle to acquiring a licensing application, the company could ask that shareholder to liquidate their equity in PartyGaming/Bwin. A multi million dollar settlement with the US Department of Justice over pre prohibition activity in the USA has been accomplished. Ryan went on to say, "There have always been questions about Party Gaming and our position in this regard," he added, "But we have now closed the loop and I think we are very well positioned."

Ryan sounded optimistic about the company's future in the online gambling market in the USA, positive moves by the feds to legalize the industry there looked very good Ryan said. New rules for the online gambling market mean benefits for all including the taxes gathered, and the safety and fairness that comes with regulatory integrity. Land based casinos such as Harrah's have also been bringing the benefits to the attention of lawmakers providing a suitable legal alternative to the activity that so many American gamblers already take part in.

Über iGaming News:

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