Initial Passage of Nevada Online Gambling Regulations Without Problems

Sep 28, 2011
Nevada Gaming Control Board holds a successful workshop A report that arrived this week from the US state of Nevada includes the latest news from the Nevada Gaming Control Board's workshop where the state's proposed new online poker regulations were discussed. The officials stressed that the purpose of these regulations is to put Nevada in a favorable position in case federal legalization occurs. They also said that they made sure the one-and-a-half hour session was highly informative for those who attended it, including players, industry attorneys, former regulators and corporate representatives of interested firms. They reportedly briefed the audience on the requirements regarding the operation of interactive gaming, licensing, internal controls, record-keeping, player registration, fees, dispute resolution and the reporting of suspicious wagers. It has also been specified in a statement that the briefing made the following notes: “The Nevada Gaming Commission must review and approve all interactive gaming systems of applicant companies; There is a requirement for ongoing testing of interactive systems, including privacy oversight to protect a player's identity and account information; Strict requirements regarding the registration of players, including identity, age (21 years) and location verification, together with checks that the player is not a problm gambler or excluded player; Records of all financial transactions, wins and losses, must be kept and players may not be given credit; Operators must report suspicious wagers within seven days; Interactive gaming licenses are classified as distinct from any existing gaming licenses that may be held, and therefore a new i-gaming licence must be taken out by applicants, for which fees will be charged. Fees have been set at $500,000, with $250,000 annual renewals and $125,000 for service providers with $25,000 annual renewals.” In addition, another public hearing will be held by the Commission and the Board in November, before the approval of final regulations, which must happen by the end of January 2012.
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