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NEW RESTRAINTS ON UK ONLINE GAMBLING IMMINENT
Sunday July 10,2011 : Culture Secretary's review spurred by Black Friday
The events of Black Friday in the United States have probably added momentum to British Culture Secretary Jeremy Hunt's review of UK online gambling, The Guardian newspaper reported over the weekend.
Hunt is preparing to radically overhaul online gambling licensing rules, reportedly to ensure that the Exchequer gets his cut through new advertising restrictions on offshore operators, and British players are better protected.
A spokesman for the Ministry told The Guardian that the events surrounding Full Tilt Poker highlights "...why the government is looking at reforming how overseas-based operators are regulated," adding that the ministry hopes to make an announcement in the next few weeks.
The UK government recently completed a wide-ranging consultation on online gambling. Under current rules offshore companies can advertise and operate without being licensed by the UK Gambling Commission as ministers rely on the strength and integrity of approved overseas regulators, particularly those within the EEC.
Full Tilt and its bigger rival PokerStars have spent millions advertising in British media in recent years and are among the most popular sites with UK players.
Pokerstars, which is licensed in the Isle of Man, appears to have emerged from the US debacle rather better than its rivals, refunding US players and avoiding scandal.
This is in contrast to the other two companies involved in the American enforcement action, Full Tilt and the Cereus network, which have yet to pay players and have been found wanting in useful public communications, losing business and traction in other markets due to (in the case of FTP) suspended licensing.
The Guardian approached the Isle of Man to enquire if it applies a "fit and proper" test to licensees, and was told by Steven Brennan, chief executive of the Isle of Man Gambling Supervision Commission: "The GSC thoroughly checks and vets every director and key official of any online gaming company ... It has the authority, and has used it, to turn down any company where it feels the company or the owners could bring the island into disrepute."
The Isle of Man appears to have more stringent ring-fencing requirements on player deposits than other jurisidictions.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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