Tag: Gambling Legislation

NBA Will Not Oppose Canadian Sports Betting Bill

IOC states that legal betting helps to build stronger attachment of fans to a sport Betting on single games is banned in Canada but active campaigns from individuals and groups has forced the Canadian Senate to consider a bill presently referred to as “C-290” which can repeal the ban and make sports betting legal in Canada. Though the bill had been cleared in the House of Commons around three years ago, it was stuck in Senate and will expire in June if not cleared by its members. Members of parliament that are in favour of the bill are not very hopeful of the bill going through this year either, due to the mixed reaction of the legislature with regards to sports betting.

 

 

Opinion of professional sports organisations on this bill

All the top professional sports organisation of United States comprising of NCAA, National Football League, National Hockey League and Major League Baseball are opposing the bill. The International Olympic Committee however supports this bill as it would lead to regulated sports betting instead of the current illegal activity that is happening in the country. IOC states that legal betting helps to build stronger attachment of fans to a sport and generates money that can help in financing the sport. But other sporting organisations have sent strong protest letters to Senate stating that the bill will affect integrity and trust of public in the game.

 

View of NBA about the bill

Along with Canadian Soccer Association, Canadian Labour Council, Canadian Chamber of Commerce and several gaming regulators, operators and municipal governments now the National Basketball Association has joined the list of supporters for the bill. Their argument is that it will bring in much needed funds to the sport and protect people from being scammed by illegal operators. According to the Vice President of Canadian Gaming Association, if this bill gets rejected by Senate, another bill will get drafted with stronger safeguards next session of Parliament as sports betting is now a part of professional sports in the country.

Online Gambling Likely To Be Legalised In Dominican Republic

Online gambling will soon be allowed in Dominican RepublicLot of attention is being given to internet gambling within the nation of Dominican Republic. The members of Standing Committee on Finance are discussing a new bill that will help in creation of a strong regulatory authority to manage gambling operations within the nation. This body will make regulations about different gambling techniques, which will be allowed and will also monitor operations of service providers that will run online gambling games within Dominican Republic. The legislation is likely to facilitate licensed internet gaming and earnings from this game will now become a part of taxable personal income.

 

History of online gambling at Dominican Republic

The nation has been a minor player in granting gaming licences to online gambling games providers. Though the Ministry of Finance gave the go ahead in 2006 to issues licenses for gambling games, the lack of clarity in taxes rates led to a delay in the legislation becoming a law. Since Feb 2011, Amaya Gaming Group has been granted license by Ministry of Finance to operate online sports betting shops within Dominican Republic. Presently there are land casinos within the nation that have been granted licenses by Ministry of Finance and have helped in attracting 4.4 million tourists in 2009 alone as it is the largest in any Caribbean nation.

 

Gambling regulation and changes

According to the president of finance committee that is studying this legislation’s details, this bill will give legislators power to monitor online gambling operations that are currently being carried out without any supervision. This law will also protect Dominican citizens from being cheated by offshore rouge operators. When the legislation is finally implemented it will help the finance department earn healthy revenues and also increase taxable assets of the players. According to legislations the tax rate for all 34 land based casinos within Dominican Republic that have both electronic gambling machines and regular gambling tables will be taxed at 29 percent on total.

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Gambling Laws and Increased Fees: What’s Happening?

Gambling Laws and Increased Fees What’s Happening2PokerStars has edited its end-user terms of service, including new currency fees. Modern, popular poker rooms have opted for funds attached to similar financial transactions, and unsupported currencies are taking a hit. While most charges sit around small amounts, approximately a 2.5 percent charge, supported currencies like U.S dollars, British pounds and euros have remained untouched.


Changing Technology

The Head of Corporate Communications for PokerStars, Eric Hollreiser, has made a statement:

 “The game is constantly changing and evolving, as is society and technology at large”. Hollreiser then commented upon reduced risks and adoption of future prospects. He said, “We’re committed to keeping poker exciting, fresh and relevant to new players and to loyal grinders”.


Changing Legislation

 PokerStars, alone, has removed themselves from over 30 markets—discontinuing services to areas providing tax-free revenue. Such a change, while small, may reveal the industry’s shift towards new regulations and legislative burdens.

The United Kingdom Gambling Act, approved by Parliament at the end of March, has imposed a requirement for U.K Gambling Commission licences. Such licences promote a 15-percent charge for point-of-consumption revenue expenditures following December 1.

Understandable, the legislation was met by market exits. Several operators, including Carbon Poker, Mansion Online Poker, SBOBet and Winamax removed themselves from the market. Meanwhile, PokerStars’ Michael Jolsem—a representative of the company’s Public Relations team—has addressed concerns for PokerStars. According to Jolsem, the website’s team is listening to complaints, regarding feedback and discussing industry benefits.

“If we can grow poker, everyone will benefit”, he stated. “Even our competitors will benefit, because in a rising tide, all ships rise”. While neither he nor Hollreisier commented upon declining profits, industry exclusion or increased government regulation, such factors are likely responsible for such comments. For now, the industry is shifting, primarily affecting stakeholders and decision makers. In the near future, however, consumer impact is likely.

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