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Updates On KING Online Gambling Bill

Friday June 7,2013 : MORE DETAIL ON THE KING LEGALISATION BILL (Update)
 
Bad actor clauses, but international players welcome at US licensed sites
 
More details on the internet gambling legalisation bill launched Thursday by Rep. Peter King are now available, including licensing requirements, which can be executed on a 5 year basis through existing state or tribal regulatory frameworks, or through a body specifically created for that activity...but with federal government input, using the criteria applied to bricks and mortar licensing.
 
Licensing will include "vendors" associated with operations, such as software and services providers, and marketing affiliates will be required to register with the licensing authority - it is not yet known whether such registration will carry a financial fee.
 
Taxation and licensing fees have yet to be specified in the legislation
 
The high profile "bad actor" clause that has caused so much comment at both state and federal level lately on grounds that it could be construed as commercial protectionism, is covered in the King bill, but appears to apply only to operators or affiliates who have provided [illegal] online sports betting services to American punters, leaving some leeway for competitors but not binding on states that may wish to impose such a clause with tighter constraints.
 
There is also sensible provision to allow "illegal" operators to exit the US market in a professional and fair manner, imposing time limits under which players must be informed and allowed to withdraw balances from their accounts, and detailing hefty fines for non-compliance.
 
Where illegal operators continue to offer services, there are enforcement options in the King bill, and seriously punitive measures against operators who continue to risk operating without US licensing that include million dollar fines and ten year prison penalties.
 
US players who give such illegal sites their business can also have their funds seized and confiscated.
 
Interestingly, the bill also contains clauses dealing with players who cheat and collude or use bots...and setting steep punishments for those that do.
 
Internet cafe "sweepstakes" gambling - a topic that has seen several states including Florida, South Carolina and California taking enforcement actions recently  is also addressed by the King bill and are declared illegal.
 
There is an age limit for players of 21 years, forming part of the section of the bill that deals with a raft of the customary problem gambling and underage preventative and exclusion requirements.
 
It is also gratifying to note that specific clauses call for player funds to be held in segregated accounts to protect them against operational failures - long a bone of contention with players. Heavy penalties are prescribed for operators who do not respect this requirement.
 
International punters who wish to play on US-licensed websites will be permitted to do so...but only where the countries in which they are resident have legalised online gambling.
 
The federal legalisation drive will be reassessed after a year of operations, with the Treasury required to submit a data-backed study of financial numbers and playing characteristics.



Gambling News :

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

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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