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South Dakota Bet Debt Obligations

2/25/10 - South Dakota legislators have drafted an amendment designed to close a loophole which has complicated debt repayment obligations in the state.  The change follows a court case where a local man avoided repaying a $33 000 debt on the grounds that he once lost $1 500 to the lender in a card game.
 
Associated Press reports that the amendment is currently on its way to the state governor's desk for final approval, and that it seeks to close a loophole that if a debt stems from illegal gambling, either in part or in whole, then the whole debt is void.
 
The amendment proposes that only the illegal portion of such debt should be invalid.
 
Senator Mike Vehle said that the amendment would not affect the case which triggered the need for change. Back in November, the state Supreme Court reinstated a jury's 2007 finding that the loan included consideration of a gambling debt that since deceased Donald L. Davis made to businessman Gerald Neve.
 
Court documents indicate that the two Sioux Falls men met in the early 1990s as members of the Elks Club, where they gambled in card games. Neve said he lost $1 500 to Davis one evening in 1992 and that Davis said they would work something out, according to the court documents.
 
Neve said Davis subsequently loaned him $33 000 in September 1993 and that it included consideration of the earlier gambling debt. Neve had financial troubles at the time and owed money for business expenses, medical expenses and taxes.
 
In 2005, Neve sought a court order to have the promissory note declared invalid.
 
Davis died after the appeal was filed and Neve settled with Davis' estate, but the high court still ruled on the legal issues.

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Gambling News :

IS DAN BILZERIAN A POKER FISH? - Dan Bilzerian, the high profile Instagram legend, jet setting playboy and allegedly deadly online poker player who claims he accrued a $50 million fortune playing the game,

Vegas Crest online casino adds 30 new games - The Vegas Crest online casino has announced the addition of 30 new video slots to its games inventory from developers GameArt and Xplosive.

AMAYA C.F.O. RETIRES - Daniel Sebag, the Amaya online gambling group's first and only chief financial officer with ten years’ service under his belt, has retired, according to a company announcement Friday.

Is Sheldon Adelson in Favor of Trumo - With the inaugural presidential lunch coming to a close Friday afternoon, US Congressional reporter Paul Kane offered an interesting tweet, noting:

SD618 Massachusetts Online Gambling bill Updates - A few more details have emerged on Sen. Bruce Tarr's new online gambling legalization bill SD618 just filed in the Massachusetts Senate.

2017 $25,000 buy-in Aussie Millions Challenge event results - Taiwan poker pro James Chen has emerged victorious in the $25,000 buy-in Aussie Millions Challenge event after besting a field of 133 at the Crown in Melbourne.

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

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