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MSU Today Says Gambling Regulation a Positive Thing

Tuesday June 02,2015 : ACADEMICS SAY ONLINE GAMBLING REGULATION A POSITIVE THING
 
Both US society and the industry itself would benefit from legalisation, say Michigan State University business scholars.
 
The publication MSU Today carried an article this week describing the US government's attempts to control Internet gambling as "a convoluted mess" that would benefit from properly defined licensing and regulation designed to protect the consumer.
 
The piece references a new study by Michigan State University business scholars, who claim they are the first to estimate the costs and benefits of the Unlawful Internet Gambling Enforcement Act of 2006, and note that despite ongoing uncertainty and confusion stemming from the law, the industry has reacted positively, with the value of publicly traded online gambling firms increasing nearly 3 percent.
 
“The online gambling industry is at the point where it wants controlled regulation,” Mark Johnson, MSU finance professor and study co-author says.
 
“We conclude that both the industry and individuals – including underage and problem gamblers – would be better off if regulation exists.”
 
The piece goes on to give a layman's description of the UIGEA, observing that the US Department of Justice seemed unsure of its own enforcement strategy until 2010. It covers the watershed policy decision by the DoJ in December 2011 that the 1961 Wire Act applied only to sports betting
 
Professor Johnson and his team studied the public value of online gaming firms in the years following UIGEA, finding that values increased when such positive signals were given. The Justice Department’s 2011 ruling, for example, was associated with a 3.5 percent boost in firm values.
 
The team found that globally, the online gambling market has nearly tripled in the past decade, from $14 billion in 2005 to $41 billion in 2015.
 
“Internet gambling is expected to continue to grow,” Johnson observes. “And while it’s unclear which types of online gambling will be and won’t be legal in the future, if the U.S. government more clearly defines ‘legal gaming,’ the benefits and risks associated with investment in all areas of the industry will be altered.”
 
Johnson's paper appears in the Journal of Hospitality Financial Management.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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