Month: June 2017

PPA seeks an unlikely alliance to exempt online poker from the UIGEA

With the June 1st implementation of the Unlawful Internet Gambling Enforcement Act regulations looming on the horizon, the Poker Players Alliance is reportedly looking for some unusual allies in its bid to exempt online poker from the law, which prohibits financial transactions with ‘illegal’ online gambling operators and processors.
This week, PPA executive director John Pappas told Poker News Daily that his organisation has approached online gambling’s arch enemy Senator Jon Kyl of Arizona for assistance, and is working on a petition appealing that peer-to-peer games be excluded from the final promulgation of the UIGEA rules.
“We need to get Jon Kyl to agree to this revision,” said Pappas. “It wouldnt seek to delay the law, but it would clearly exempt poker and pari-mutuel dog and horse racing.
The action suggests that Pappas is preparing an alternative strategy should Congressman Barney Frank’s attempt to legalise and regulate US gambling in general fail. That bill is accompanied by a companion bill, HR 2266, that seeks to delay the implementation of the UIGEA regulations for a further year, and is due to undergo another House Financial Services Committee hearing – hopefully in the near future.
Pappas’ strategy in approaching Kyl apparently turns on convincing the anti-online gambling senator to support an exemption. I dont think it comes down to Kyl having an axe to grind with poker players. I think hed be open to a legislative solution, but he wants to get his law enforced, Pappas notes.
Speculating on the impact of the UIGEA regulations come June 1st, Pappas told PDN: Its not going to have any effect on those who wish to miscode transactions and those who are not the most upstanding actors. Theyll continue to operate without fear of this law and players will continue to be able to wager on those sites.
“Its the larger, reputable online poker sites that will have to review their operations and make certain that theyre above board.…

Advantages and prevalence

The chairman of the feisty Interactive Media Entertainment & Gaming Association, Jo Brennan Jnr., has encouraged New Jersey politicians to legalise online sportsbetting in the state as the legislature conducts hearings in order to hear opinions on the issue.
Writing under the banner “Public Hearing on Sports Wagering, Atlantic City”, Brennan remarks that there is no need to conduct a treasure hunt in order to find substantial funds in sportsbetting, which he notes is “everywhere, in full view, for all to see.”
He specifies the extensive coverage that sports betting achieves on a regular basis in both dedicated and mainstream media, describing it as
“…as common as information for the stock market – and probably more widely read, even on Wall Street.”
Brennan opines that the state of New Jersey, and in particular its currently struggling gambling mecca Atlantic City, would do very well by reaping substantial tax dollars, creating jobs and, most importantly, helping drive visitors and revenue at the local casinos, if it were to regulate sports betting. He examples this by pointing to the benefits accrued by Las Vegas, where sports betting is permitted and events occurring far away attract gamblers wanting to wager and spend money on other Vegas attractions in the process.
“Direct revenue from the wagers is magnified 10x by the economic halo effect of drawing hundreds of thousands of visitors – many from the tri-state area of New York, New Jersey and Pennsylvania – out to the middle of the desert to place legal, regulated wagers on the games,” Brennan points out.
“And here, in Atlantic City? Unfortunately, there will not be that same influx of visitors and revenue, because regulated sports wagering is not permitted in New Jersey.”
The iMEGA chief goes on to quote the final report of the National Gambling Impact Study Commission, which back in 1999, estimated that sports wagering in the US represented an underground economy approaching $380 billion, largely provided by organised crime, local street-level entrepreneurs and peer-to-peer, between friends.
“Since that report, all the way back during the Clinton administration, we have seen the explosion of the Internet, the boom of fantasy sports, and an ever expanding universe of televised sports. Given that, it’s hard not to imagine that sports wagering – as an underground economy – is approaching a Half-Trillion dollar market. And, Atlantic City and New Jersey is getting nothing out of it,” he comments.
But it could, he adds.
“Estimates peg a state-regulated sports betting marketplace to be in excess of $10 Billion. A sizeable chunk – more than $3.5 Billion – could be realized by Atlantic City’s casinos,” Brennan writes.
“Given the population density of the state, its position in the Northeast Corridor and less-expensive transportation options when compared to Las Vegas, Atlantic City could see a significant stimulus to its resort casino economy if state-regulated sports wagering were permitted.
“Instead of low occupancy levels during Super Bowl weekend or the NCAA tournament, Atlantic City would become the place to be on the East Coast during those periods.”
However, Brennan cautions that state regulated sports wagering is not a single, silver bullet remedy to all of the challenges facing Atlantic City. “But it can be part of the solutions needed to reverse the town’s fortunes by providing a stimulative effect. More traffic means more dollars means more jobs. Atlantic City’s casinos would be able to renovate their properties, and new properties being constructed would have an additional pillar on which to base job creation and ongoing success.”
Brennan then gets to the real meat of his argument – Internet gambling.
“Our association comes at this issue from the vantage point of the Internet,” he writes. “Online operators would like to find a home in the US, as it represents the world’s largest market for them. Enthusiasm for New Jersey as the world hub for Internet gambling is high, ironically, because of the state’s reputation as the toughest regulatory jurisdiction in the world.
“Operators that can meet NJ regulators’ standards and licensing requirements would become the most valuable companies in the sector, and be rewarded with consumer trust, access to capital markets to help them grow, and the opportunity to become public corporations offering shareholder value.
“Atlantic City and New Jersey, if it chooses, could become the global capital of “the Next Gaming industry”, a hub for online commerce, as well as the high-tech jobs and infrastructure investments it would create. The integration of this new, high-tech industry with Atlantic City’s resort casinos would be a powerful vehicle for driving foot traffic and revenue in this town.
“Some suggest that sports betting in New Jersey be limited to the casinos. That would be a fine plan if this were 1980, and not 2010. To suggest that sports wagering be limited in that way would be to ignore what the Internet and technology has accomplished in the last decade. Instead, we should work hard to integrate the online market with the offline, Atlantic City resort casino market in a way that drives growth for both, and significant tax revenue for the state.”
Brennan goes on to attack the arguments put forward by professional sports leagues that sports wagering could undermine the integrity of their games, saying: “That is an argument that cannot be logically sustained. So what the leagues are saying is, in effect, ‘leave this marketplace underground’.
“Does that make sense? Can anyone really believe that leaving this underground economy to organized crime and street-level operators would be preferable to state regulation? No. Precisely the opposite is true. Yet the leagues continue to make this illogical argument, and probably will all the way up until the point where they sign lucrative revenue sharing agreements with betting operators like they have in European soccer.”…

Reasons Why People Gamble

The act of betting money is called gambling. People hope that the outcome of the game will be in their favor. The tension and the adrenalin rush is there, not being able to predict what will happen. But what is the main reason why people like to gamble? Is it to have fun or to earn extra cash?

One reason people gamble is that they are feeling lucky. Gambling comes in many forms – even buying a lottery ticket is gambling. Luck is a large factor in gambling. If a person is feeling lucky they might buy a lottery ticket, or join a group of people playing bingo, or simply spin a few at a slot machine. There is a simple reason: people gamble because they are feeling lucky, and they think that they have a good chance. Sometimes there is a leap of faith; our feelings often motivate us to take a chance, and betting/gambling is no exception.

Aside from feeling lucky, sometimes we do visit casinos just to have fun. A person can go with his friends and hit a few games in the casino. It is not always just the money that leads people to the casino. Of course, everything in the establishment is geared to encouraging us to play games, to experience the thrill and excitement. The roller coaster emotional feeling when you bet on the game is enough to make some players addicted to casino games.

Undoubtedly, few people successfully gamble to truly aid their finances. Although this practice is attempted by some, it is not encouraged. Gambling seldom helps financial problems. Gambling is there for recreational purposes, to have fun and be with friends. Gambling is rarely successful when it comes to making real money. If the person can’t afford to lose money, then they should not gamble.

People with a very busy career/life need a break; or sometimes, if a person is feeling bored, gambling can soothe the frustration of their daily life and help them escape their busy and/or boring world. Casinos can provide the player a temporary escape to their world, and can give the player a sense of thrill and excitement in their lives.

Many tense people go to casinos to relax. Gambling can be a form of relaxation by focusing you away from your normal life, and by being carefree for the moment. People can unwind at casinos with their friends, or other players, to ease the stress they build up in their lives. The casino’s atmosphere is pleasant, exciting, and relaxing, which, of course, appeals to the players.

Sometimes, people go to casinos to socialize. It is always nice to meet friends while having fun.

People go to casinos with varied purposes in mind. Whatever their reasons may be, most casinos are always open for people who want to visit and stay for a while.…