Author Topic: POKER/GAMBLING NEWS  (Read 244884 times)

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Offline Jane

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Re: POKER/GAMBLING NEWS
« Reply #60 on: April 26, 2010, 09:48:10 AM »
Hey I also play poker and like to keep up with the latest news. Thanks for updating me.

Online blueday

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Re: POKER/GAMBLING NEWS
« Reply #61 on: May 04, 2010, 05:16:07 AM »
Co-sponsors for HR 2267 now up to 68

Congressman Barney Frank continues to attract Capitol Hill co-sponsors to his HR 2267 bill, which seeks to legalise online gambling in the United States and overturn the UIGEA .

In an environment that appears to be increasingly in favour of the idea of regulation rather than prohibition, the Frank legislative proposal has so far attracted 68 co-sponsors.

Latest to sign on for the initiative is a Nevada politician, Representative Dina Titus from the Nevada third district. She was preceded by New York representative William Owens as the 67th politician supporting the bill.

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Re: POKER/GAMBLING NEWS
« Reply #62 on: May 08, 2010, 06:22:41 PM »
McDermott and Frank bills both due for debate

It looks as if a companion bill to Congressman Barney Frank’s HR2267 may be the subject of a hearing later this month ahead of HR 2267 itself.

Staffers in the office of Representative Jim McDermott have hinted that May 19 and 20, although not yet confirmed, could be the dates on which his Gambling Regulation and Tax Enforcement Act will be discussed in a House Ways and Means Committee hearing.

Political observers point out that if such a hearing eventuates, it will be the first time the bill has enjoyed its own focus – on taxing a liberated US online gambling market – in the House.

Bringing the McDermott bill into the spotlight could complement its companion Frank bill, which seeks the legalisation of online gambling. In December Frank held a hearing on his HR2267 bill in the House Financial Services Committee, and is on record as saying another hearing is likely in May.

Frank’s other legislative proposal, which has the objective of delaying the implementation of the Unlawful Internet Gambling Enforcement Act until the legalisation issue is resolved, would appear to have little chance of success.

Proponents of the UIGEA have already been angered and frustrated by the successful postponement of the regulations to June 1st this year, and there appears to be little appetite in the Obama administration for a further extension.

A hearing scheduled for April 16 was postponed indefinitely due to a scheduling problem in Frank’s office and nothing further has been heard on it.

In these difficult economic times, when both federal and state budgets are under considerable stress, the potential of the McDermott bill to generate billions in tax revenues and increase employment opportunities is a powerful attraction, with the potential to improve the chances of the Frank bill that it complements – the bills are mutually supportive.

Offline esider

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Re: POKER/GAMBLING NEWS
« Reply #63 on: May 09, 2010, 10:07:12 PM »
thanks for the updates

Online blueday

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Re: POKER/GAMBLING NEWS
« Reply #64 on: May 10, 2010, 08:26:42 AM »
Appeal could see escalation to the Pennsylvania Supreme Court

Poker organisers Diane Alice Dent and Walter Leroy Watkins have to be among the most determined fighters for poker to be recognised as a game where skill is more important than chance; the duo’s case could now be headed for the Pennsylvania Supreme Court.

The couple, who were accused in 2008 of running a poker game in which no rake applied in the garage of a private home, have appealed a Superior Court ruling that had earlier overturned a lower court finding that poker is predominantly a game of skill and therefore falls outside the scope of ‘illegal gambling.’

The case started its long journey through various courts when a police sting operation resulted in the prosecution of the duo, and the Poker Players Alliance has been fighting poker’s corner in supprting the two Pennsylvanians.

The PPA’s executive director, John Pappas, feels there is a good chance a Supreme Court appeal will be successful, saying: “The [Superior Court] judges did not look at what was presented before them, but rather looked at other court cases in other states that said poker is a game of chance. They didn’t take into account any of the most recent academic studies and legal victories.”

The case has seen the presentation of some highly technical testimony dealing with the advantages of skilled players over less experienced gamblers in identifying opportunities to bluff, master odds, and interpret live tells.

It was to no avail in the Superior Court, however, where a panel of three judges voted 2 to 1 that chance is the predominant factor in the game, quoting from cases in other states.


Online blueday

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Re: POKER/GAMBLING NEWS
« Reply #65 on: May 12, 2010, 04:39:13 PM »
Poker players warning:

Active review on moves to fix the problem being conducted by the Commission
 
The Kahnawake Gaming Commission has sounded a note of caution for players regarding the encryption issues which surfaced late last week at the Cereus Poker Network.
 
In a statement Tuesday, the Commission noted that the mechanism used by Cereus for network transmissions contained the “potential for player gaming data to be improperly accessed under certain specific circumstances”.
“The Commission is actively reviewing this matter with senior management of AbsolutePoker.com and UltimateBet.com and with its approved agents,” the KGC statement revealed, giving an undertaking to the player community that it would issue a further notice as soon as its review has been completed.
 
The statement continues: “The Commission is monitoring immediate measures that are being taken to address the security issue and is advised that a more permanent solution is to be implemented on an urgent basis.
 
“Based on information available at this time, it appears unlikely that player gaming data was actually compromised. However, this possibility will be reviewed further and, if necessary, the Commission will direct that the appropriate remedial actions be taken.
 
“Until a solution to the security issue is fully implemented, the Commission recommends that players use caution when accessing the AbsolutePoker.com or UltimateBet.com sites and, in particular, when using a wired or wireless public network or a private wireless network.”

Offline SystEmsuX

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Re: POKER/GAMBLING NEWS
« Reply #66 on: May 16, 2010, 11:07:39 PM »
Thanks, I'm eager to see what happens with Frank's bill.
“I want to stay as close to the edge as I can without going over. Out on the edge you see all kinds of things you can't see from the center.”  ~Kurt Vonnegut

Offline Rosebud

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Re: POKER/GAMBLING NEWS
« Reply #67 on: May 17, 2010, 04:53:37 AM »
Thanks Blue,I love playing poker too and I sometimes do not read the e-mail I get from the poker alliance but I ty to keep up with with posts on LCB.We need to stay informed and hopefully in the not to distant future we will be able to play our favorite games weather it be poker,slots,video poker or whatever.Once again, thank you for keeping us informed.

Online blueday

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Re: POKER/GAMBLING NEWS
« Reply #68 on: May 17, 2010, 05:18:28 AM »
I agree bingocrazy, the sooner USA is unrestricted the better.  Freedom of choice doesn't come into it at the moment.

blue

Online blueday

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Re: POKER/GAMBLING NEWS
« Reply #69 on: May 19, 2010, 07:07:07 PM »
Wednesday’s House Ways and Means Committee hearing will be closely watched

Today’s (Wednesday) hearing on Representative Jim McDermott’s proposal to tax a legalised online gambling industry in the United States has attracted some heavyweight political and other names

The House Ways and Means Committee has published a witness list that includes both pro and anti Internet gambling personalities like Congressman Barney Frank and Representative Bob Goodlatte, along with civil service representatives from the United States Treasury and Internal Revenue Service.

Christopher Wagner, Commissioner of the Small Business Self-Employed Division will represent the interests of the IRS, whilst Rebecca Sparkman, Deputy Director for Operations for the Criminal Investigation Division is also listed.

Charles Steele, Deputy Director of the Financial Crimes Enforcement Network for the United States Department of the Treasury will speak for the US Treasury.

Jim McDermott, as author of HR 4976, the Internet Gambling Regulation and Tax Enforcement Act, will be a key figure. His proposal deals with a wide range of taxation issues and is complementary to Barney Frank’s HR 2267, which is designed to legalise and regulate US gambling on a federal level.

Frank’s bi-partisan bill has just signed it’s 69th political sponsor on Capitol Hill in Representative Scott Murphy, a New York Democrat.

McDermott is seeking to impose taxes on online poker and other Internet gambling that could bring the federal government as much as $42 billion over 10 years, according to a congressional analysis. States may collect as much as $30 billion, McDermott’s office estimates.

“It’s a human activity that people are going to do, and it’s a good place to pick up some dough,” said McDermott, a Washington Democrat, in an interview. “I’ve gotten a thousand ideas pumped at me about what we should do with the money.”

McDermott’s proposal would require Internet gambling operators to pay a 2 percent tax to the federal government on betting deposits and a 6 percent tax to states. The federal treasury also would collect taxes on gaming-company profits, and bettors would pay taxes on winnings.

However, arch anti-online gambling opponent, Republican representative Spencer Bachus, says revenue estimates for McDermott’s proposal are bloated because they assume all states would participate. The Alabama congressman said he’s concerned the prospect of more government revenue will attract lawmakers who thus far have opposed legalising Internet gambling.

“I know the government is in a search for money, but if you have something that is destructive to society, you shouldn’t let $40 billion be the price tag,” Bachus said.

The U.S. offshore Internet gambling market is expected to climb to $5.7 billion in 2010 from $5.4 billion last year, according to U.K.-based H2 Gambling Capital, which supplies data on the industry. The global market is about $30 billion.

26 Democrats and 18 Republicans make up the powerful House Ways and Means Committee, which includes familiar names associated with internet gambling like Nevada representative Shelley Berkley.

Offline josie46

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Re: POKER/GAMBLING NEWS
« Reply #70 on: May 19, 2010, 07:22:01 PM »
hi gang people like  Bauhus should go away , they should go with the majority of what people want , ty josie46

Online blueday

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Re: POKER/GAMBLING NEWS
« Reply #71 on: May 21, 2010, 04:03:11 PM »
US Internet gambling tax bill debate continues....

Strong views remain on both sides of the argument for legalisation
 
The legalisation of US internet gambling inevitably raised its head in Wednesday’s House Ways and Means Committee hearing on Representative Jim McDermott’s HR 4976 proposal to tax online gaming in the United States.
 
Congressman Barney Frank, the author of HR2267, a bill seeking to legalise the pastime, spoke passionately about the rights of the player, whilst opponents were equally vociferous in their condemnation and concerns over internet gambling.
 
John Pappas, Executive Director of the Poker Players Alliance grassroots advocacy group was first off the mark in getting a media release out on the discussions surrounding McDermott’s Internet Gambling Regulation and Tax Enforcement Act of 2010.
 
"Today's hearing underscores the increasing Congressional interest in a licensed and regulated online gaming environment,” Pappas said in a press statement. “While the robust consumer protections provided by regulation are the biggest selling point, in the current economic environment, additional tax revenue derived from a licensed industry is certainly appealing as well.
 
"It is important to note that this bill would not levy a new tax on poker players. Rather, it requires each licensed Internet gambling operator to pay a licensing fee – nothing would be deducted from a player's deposit. Individuals would be required to pay annual income taxes on their net winnings, just like players who collect winnings in land-based casinos do today.
 
"The PPA is working to remove language from the bill that would fine players who play on unlicensed sites as we firmly believe the unlicensed sites should bear the full consequences of not obtaining a license in the U.S.
 
"We thank the Committee for holding this important hearing today. We look forward to a successful mark up of legislation to license and regulate online gaming in July in the House Financial Services Committee."
 
According to the Dow Jones news agency, Congressman Frank confirmed that he planned to bring a bill legalising online gambling before his panel in July for lawmakers to consider.
 
Frank, one of the biggest congressional advocates for overturning the law passed by Republicans in 2006, said he hoped the bill could be approved by the House this year.
 
The feisty Democrat, who also chairs the powerful House Financial Services Committee, testified before the Ways and Means Committee, arguing that the government has no business telling adults they can't gamble online. He has also noted that the regulations that are set to go into place June 1 would compel banks to determine which financial transactions are illegal under the law.
 
Frank said that once the regulations are implemented next week, he expected the banks would begin to complain loudly about being told they have to police the online gambling industry.
 
Turning to his own bill, Frank said that HR 2267 is designed to protect consumers without restricting their freedom.
 
“I have always believed that it is a mistake to tell adults what to do with their own money.  Some adults will spend their money foolishly, but it is not the purpose of the Federal Government to prevent them legally from doing it,” he said.
 
“We should ensure that they have appropriate consumer protections and information, but otherwise allow people to pursue activities that they enjoy which do not harm others.  As John Stuart Mill said in his essay, On Liberty in 1869:
 
“The only freedom which deserves the name is that of pursuing our own good in our own way, so long as we do not attempt to deprive others of theirs, or impede their efforts to obtain it. Each is the proper guardian of his own health, whether bodily, or mental or spiritual. Mankind are greater gainers by suffering each other to live as seems good to themselves, than by compelling each to live as seems good to the rest.”
 
Frank noted that he had the strong support of some 70 political co-sponsors, including Representative Ron Paul of Texas; and the Ranking Republican and former Chairman of the Homeland Security Committee, Peter King.
 
He argued that American consumers who wish to gamble online are currently without safeguards against fraud, identity theft, underage and problem gambling and money laundering.  Some operators adhere to rigorous regulatory regimes in foreign jurisdictions, but U.S. customers have no local recourse if they have a problem.
 
“And, more to the point for today’s hearing, billions of dollars in taxes – both under existing law and those that would be established under Mr. McDermott’s bill – remain uncollected,” Congressman Frank asserted.  “Enacting these bills would bring this industry out of the shadows, benefit consumers and ensure that all of the revenue does not continue to exclusively benefit offshore operators.”
 
Representative Jim McDermott told the hearing that millions of Americans gamble on the Internet each day, despite laws seeking to prevent or disrupt it. Citing industry analysts, McDermott said US players deposit $12 billion and wager nearly $100 billion annually, generating an estimated $5 billion for offshore operators.
 
That money would be put to better use in the U.S., he claimed, saying that it could create thousands of jobs for people who would be employed by licensed gambling sites.
 
"Regulation and taxation have proven to be a better policy for our country when it comes to alcohol," McDermott said. "The same is true for online gambling."
 
"Driving Internet gambling offshore has been a policy failure,” said McDermott “The GAO has called Internet gambling borderless, and I think it's time for Congress to stop pretending that the future won't come."
 
McDermott estimated that taxing the industry would generate $42 billion, with the bulk coming from income taxes on winning players. Other revenues would be derived by a tax of 0.25 percent on all wagers, which is consistent with current gambling tax law, and a two percent tax on player deposits at the federal level.
 
The bill would also give states and tribes the opportunity to share in that deposit tax at a rate of up to six percent on those same deposits in lieu of all other taxes. Combined with existing state income taxes, McDermott estimated states and tribes would raise $30 billion over 10 years.
 
The Associated Press news agency commented that realistically, supporters realise that Congress is highly unlikely to pass legislation this year on the subject, but they hope to lay the groundwork for the future with hearings like the Ways and Means Committee discussion.
 
Frank has stressed that his legislation prohibits operators from accepting sports bets as well as bets initiated in states or tribal lands that prohibit that particular type of Internet gambling.
 
Opponents of the proposed legislation predictably called the hearing a waste of time.
 
"It's pretty clear to me that Congress is not about to legalise, let alone legalise and tax Internet gambling," said Californian Republican Representative Wally Herger. "There are far more pressing issues we should be focused on."
 
Another confirmed online gambling opponent, Virginia Republican Representative Bob Goodlatte, told lawmakers that almost all the nation's attorneys general have opposed similar legislation in the past.
 
"Unfortunately, financial ruin and tragedy are not uncommon among online bettors," Goodlatte alleged.
 
Democratic Representative Shelley Berkley from Nevada, said online betting has never been more popular, despite efforts to stop it. She said she supports efforts to legalise it, which would allow Nevada casinos to participate in the online market, but she can't support the taxes McDermott proposed.
 
"Participation in the Internet gambling market by reputable U.S. companies will ensure that U.S. players are able to choose operators based on their integrity and security, and not just their availability," Berkley said.
 
Fellow Nevadan, Republican Representative Dean Heller, agreed with her position against the tax proposal.
 
"Common sense regulation of gaming on the Internet will protect American consumers, and I believe it will create at least 32 000 jobs," Berkley said, but then added, "I am unable at this time to support this special tax called for by Mr. McDermott's bill. The issue of taxation and legalization are separate and distinct."
 
One politician who appeared to have been swayed by the positive arguments for regulation rather than prohibition was the Republican Representative from Oregon, Earl Blumenauer, who after the hearing renounced his stand against online gambling, saying he had learned it was hypocritical, and citing the need for revenue sources.
 
Blumenauer, who admitted he had voted for the UIGEA when it was rushed through a late night session of Congress attached to a security bill in 2006, said he will now support the regulation of Internet gaming, making him the 70th politician to sign up to Barney Frank’s HR 2267.
 
In a press statement, Blumenauer said that allowing state lotteries, US horse racing and fantasy sports leagues to conduct gambling business over the Internet made it unreasonable and inequitable to legislate against online casinos and Internet poker.

Offline kynettie

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Re: POKER/GAMBLING NEWS
« Reply #72 on: May 29, 2010, 08:19:24 AM »
I found this thread about FullTilt.

It was reported by the Financial Times that the worlds 2nd largest online poker room Full Tilt Poker is being investigated by a federal grand jury in Manhattan, NY.

The article, which was published on Monday April 5 by a Financial Times reporter in San Francisco, read in part, “A federal grand jury in Manhattan is investigating one of the largest internet poker sites serving U.S. gamblers and could bring indictments against some of the world’s best known professional players, according to people familiar with the case and a subpoena issued to a witness this week.” Two poker players singled out are Howard Lederer and Chris Ferguson, whose names were brought to life in a civil suit last year as having an ownership stake in the company.

Federal agents have purportedly honed in on money laundering charges. On their significance, the Financial Times explains, “Money laundering charges might be attractive to the government as they would compel cooperation from authorities even in countries where gambling is legal.” Subpoenas issued in the case allegedly claim that internet gambling is illegal in the United States, a statement many industry insiders would disagree with.

Is this true and if internet gambling is illegal can we get busted and What about PokerStars?

Online blueday

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Re: POKER/GAMBLING NEWS
« Reply #73 on: May 29, 2010, 09:40:11 AM »
The "player" cannot be busted as far as I can understand.  It is only the financial institutions and "maybe" the site itself that can be in trouble.  As the 2 players named in the article have a financial interest in the site, they are included in the "money laundering" charges.

That is how I understand it.  

Thanks for the post.

blue
« Last Edit: May 29, 2010, 09:45:00 AM by blueday »

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Online blueday

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Re: POKER/GAMBLING NEWS
« Reply #74 on: May 31, 2010, 03:53:08 PM »
Some interesting comments from the PPA about the legality of poker from tomorrow [1st June] and as suspected above, players cannot be in trouble - this is confirmed in the video.

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