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Three reasons why June 1st is significant for internet gambling
5/31/10 - Norwegian online players at UK gambling group Ladbrokes recently received a notification that government restrictions on internet gambling through the financial system was imminent, and that credit cards from Norway could not be accepted for online gambling by Norwegian banks.
The move in this direction has been building for years as the Norwegian government sought to stay on-side with the European Commission (Norway is a member of the European Economic Area) but at the same time regulate online gambling to the commercial benefit of its monopoly Norsk Tipping.
Litigation with major international gambling companies has been a consequence of the Norwegian government's strategy, but in February this (2009) year the Norwegian Storting (parliament) finally passed the Payments Act and was given royal assent, with the purely coincidental implementation date of June 1st 2010.
The Norwegian approach draws heavily on the US equivalent (the Unlawful Internet Gambling Enforcement Act 2006) insofar as it seeks to disrupt and halt financial transactions between Norwegian residents and 'unlicensed' (in Norway) online gambling sites.
The Act also requires that financial companies processing transactions help enforce the law on pain of being classed as accessories to unlawful gambling if they fail to halt online transactions with companies that do not have a Norwegian licence.
With the Payments Act coming into force on June 1st this week, leading Nordic operators have opined that it is unlikely to have a significant impact on business, but there will almost certainly be some background activity seeking Norwegian licenses. These may prove hard to get as the government seeks to protect the commercial interests of its monopoly.
Other significant developments for June 1st 2010 are the implementation of the much-delayed UIGEA regulations in the United States, and the launch in California of Senator Rod Wright's SB 1485, which seeks the intrastate legalisation, regulation and taxation of internet poker
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
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Playtech Acquires ECM Systems -
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Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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