Blackjack, baccarat, craps and other casino games featured in Atlantic City could become available on the Internet.
The state Senate wagering and tourism committee released a bill today that would allow the city’s 11 casinos to create websites for New Jerseyans to bet online. The state would regulate the new gambling sites and reap 20 percent of the new revenue in taxes. (more…)
A hearing on the taxation of Internet gambling was held today. Regulations proposed by Rep. Jim McDermott (D-Wash), some of which include possible deposit taxes, were considered. The proposal also outlines a .25 percent tax on each wager, along with a .2 percent tax on a deposit. Witnesses and members of the committee weigh the pros and cons of the proposal.
WASHINGTON – Prohibition didn’t work with alcohol and it’s not working with Internet gambling now, say lawmakers pushing Congress to approve long-shot legislation that would legalize and tax online wagering.
Rep. Jim McDermott, D-Wash., told his colleagues during a congressional hearing Wednesday that millions of Americans gamble on the Internet each day, despite laws to prevent it. Citing industry analysts, McDermott said they wager nearly $100 billion annually, generating an estimated $5 billion for offshore operators.
He said the money would be put to better use in the U.S. and would create thousands of jobs for people who (more…)
The US House Committee on Ways and Means is reviewing revenue steams generated from Internet gambling and looking into taxing online gaming.
The USA is reviewing tax proposals related to online gambling.
It is currently illegal to knowingly accept payments in connection with internet gambling in the US under the Unlawful Internet Gambling Enforcement Act (UIGEA) and further legislation is being introduced on 1 June to ensure that all financial authorities comply. (more…)
Despite the proposed deadline having come and gone, the Kentucky Supreme Court has still not issued a firm decision on the Internet gambling domain name. The next available day to hand down decisions is in March, otherwise the decision may be delayed again until April or May.
While Kentucky lawmakers debate expanded gambling at state racetracks, there still is a case pending before the Kentucky Supreme Court. The ruling on the Internet gambling domain name case was expected this past Thursday.
Experts in the fields of online security and consumer safety testified today before the House Committee on Financial Services to address legislation introduced by Chairman Barney Frank (D-MA) that would regulate Internet gambling in the United States. Witness testimonies provided further evidence to Committee members that a regulatory framework for Internet gambling would protect consumers and ensure the integrity of Internet gambling financial transactions. Chairman Frank has previously indicated interest in having the House Financial Services Committee vote on his legislation, the Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2009 (H.R. 2267) as the next step in getting the bill enacted into law during this Congress.
(Press Release)– An increased focus on the benefits of Internet gambling regulation are expected as the Senate Finance Committee considers a proposal introduced on Saturday to use Internet gambling revenue to offset the costs of health care reform. The amendment offered by Senator Ron Wyden (D-OR) would dedicate Internet gambling tax revenue generated through implementation of the currently pending Internet Regulation, Consumer Protection and Enforcement Act (H.R. 2267) to increase low-income subsidies provided through the America’s Healthy Future Act of 2009. A PricewaterhouseCoopers analysis shows that collecting taxes on regulated Internet gambling would allow the U.S. to capture up to $62.7 billion over the next decade. (more…)
(As reported by NBCSports.com) An advocacy group for online poker said Tuesday that the federal government has frozen more than $30 million in the accounts of payment processors that handle the winnings of thousands of online poker players.
The Justice Department long has maintained that Internet gambling is illegal, a view that the poker group challenges.
The Poker Players Alliance told The Associated Press that the U.S. attorney for the Southern District of New York instructed three banks — Citibank, Goldwater Bank and Alliance Bank of Arizona — to freeze the accounts.
(As reported on Casinocity.com) –Franklin County Circuit Judge Thomas Wingate will be holding a forfeiture hearing regarding domain names to 141 online gambling sites Friday at 3:30 p.m. in Frankfort, Kentucky. Last week, the Commonwealth of Kentucky was granted an order to seize these domains as part of lawsuit trying force online gambling operators to stop offering services to Kentucky residents. (View the complaint)
(Frankfort, KY) - As reported on Courier-Journal.com, Kentucky Gov. Steve Beshear announced yesterday that he is trying to shut down illegal Internet gambling in Kentucky, though some industry experts say his chances of success aren’t good. This is from a Governor who based his gubernatorial campaign on expanded gambling in Kentucky and failed miserably.
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