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Now Beshear wants to tax Kentucky residents who gamble online
2/28/10 - The US state that achieved international notoriety by attempting to seize international online gambling domains on protectionist and moral grounds - Kentucky - has just passed a law designed to tax....online gamblers!
The new law, which enjoyed an easy passage through the Kentucky House on Friday, capitalises on federal legislative carve-outs that permit online wagering....as long as it is on horse racing, fantasy sports and state lotteries. The exception has seen America embarrassed internationally in the World Trade Organisation for its disciminatory treatment of other forms of online gambling.
House Bill 368 now goes to the state Senate and was sponsored by a Democrat, Larry Clark, who is the House's temporary Speaker. The bill proposes a tax of half a percentage point on ADW (advance deposit wagers) made by any resident in Kentucky using Internet or telephone services, and was approved in the House by a vote of 85 to 8.
The current proposal is getting more support than a similar effort last year by Clark which proposed a 3.5 percent tax and was thrown out by the House Appropriations and Revenue Committee.
If passed, it could ultimately impact online punters using sites such as Churchill Downs' Twin Spires.com, although the proposal is that the tax would be extracted from account wagering companies as is done in Virginia and Illinois.
It has been estimated that the new tax could raise some $400 000. However, the Legislative Research Commission is less sure, pointing out that the dearth of information on how much money Kentuckians bet through the Internet and telephone makes an accurate calculation impossible.
The income from the tax will be distributed equally between the Kentucky Horse Racing Commission, whichever Kentucky track is running at the time and to that track's purses.
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Wanajump Launches -
#Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.
Coral Launches player proposition betting product -
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Oshi online casino now accepts fiat currencies -
The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.
New Standards for UK Online Gambling -
Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.
Pennsylvania Gambling Bill 1887 returned with additions -
The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.
Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
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