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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 :
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
NY Rangers vs. Devils on 12/21 -
When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.
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