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Proposed Law SB40 Bad For Poker Player Stakers
Sunday January 25 ,2015 : ANTI-MONEY LAUNDERING CRACKDOWN COULD IMPACT U.S. POKER
Bids to restrict messenger betting could affect staking and investment in players.
Professional poker players in major tournaments, especially in the USA, who sell part of their action to investors who are not themselves playing, could be impacted by the recent clampdown on anti-money laundering by the US Treasury's Financial Crimes Enforcement Network.
The watchdog has recently issued warnings to American gambling companies regarding the dangers of money laundering and the concealment of sources of gambling money, and in response Nevada lawmakers have crafted an amendment to state law in bill SB40 that will specifically ban "messenger betting" - the placing of bets through a third party resident in Nevada.
Gambling companies are already required by federal law to notify the Financial Crimes Enforcement Network on any cash bets over $10,000.
Another federal law - the Professional and Amateur Sports Protection Act - restricts sports betting to just four US states, with Nevada enjoying the most latitude. That has resulted in a situation in which punters in other states where sports betting is illegal try to place bets in Nevada through third parties...hence the messenger bet, which the Treasury is worried may be exploited by money launderers.
Nevada's state Gaming Control Board is driving SB40 in order to comply with federal government requirements, and it seeks to obviate messenger betting by beefing up the existing requirement that any person or entity accepting a bet on behalf of another must comply with regulations and be licensed by the state.
SB40 does this by extending the scope of the existing law to any unauthorised person or entity who financially benefits from third-party betting activity or receives "...directly or indirectly, any compensation or reward, or any percentage or share of the money or property played."
On the face of it that would appear to embrace your action-selling poker players, and perhaps even revenue-sharing affiliate marketers...and the amending bill makes the offence a felony, with tough punitive provisions.
NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday -
Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
Pro League Reveals Sportradar Contract Details -
The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.
NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.
2 New Slots For Microgaming Casinos -
David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.
MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
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