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Bahamas Making Progress on Internet Gambling

Tuesday August 19,2014 : BAHAMAS MAKING PROGRESS ON INTERNET GAMBLING
 
General agreement reached in consultative initiative....but tax comes first.
 
The Bahamas Tribune reports that a government consultative initiative on the reform of gambling in the Caribbean nation has reached substantive agreement with most interested parties.
 
Minister for Legal Affairs, Damian Gomez, said consultations are nearly complete, but the bill will not be brought to Parliament until after more urgent legislation to implement value added tax (VAT) has been passed.
 
“I was under the impression that we have reached a substantial agreement and we have all but completed our consultations, and I anticipate that very shortly the bills on gaming will proceed,” Gomez said Monday.
 
Applying an equitable law on the internet aspects of gambling has been a controversial issue for years, with land casino operators and unlicensed "webshops" competing for attention and an even playing field. The issue of Bahamian citizens being denied access to land casinos has also heightened tensions.
 
Proposals for licensing qualifications include minimum levels of capital, operator probity and a requirement that all internet equipment used in internet gambling ventures be based within the Bahamas.
 
One of those involved in the discussions, Craig Flowers, CEO of webshop body FML Group, told The Tribune that the greatest challenge for the new Gaming Bill is its ability to present regulations that meet international standards for online gaming.
 
Flowers warned that there could be regulatory problems associated with online gambling on an international basis, particularly where US dollar denominated transactions take place across geographic borders, where strict regulations against money laundering are applied and the United States is especially sensitive.
 
“International online gaming requires any government to meet international compliances to move funds and in particular American funds across international borders, and that’s where the United States comes in on this whole charade," he said.
 
“Most money that is moved globally is in US currencies and if US currencies are going to be moved from one country to the next across international borders the US has a major problem with that and they have reasons to."
 
Last month, Tourism Minister Obie Wilchcombe confirmed to The Tribune that the conduct of international internet online gaming from casinos, as opposed to web shops, was one of the issues still up for debate in the new Gaming Bill.



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NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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