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Ontario Urged to Regulate Internet Gambling

03/30/2012 :  TRADE ASSOCIATION URGES ONTARIO TO REGULATE INTERNET GAMBLING (Update)
 
A firm government policy will provide legal clarity, enhance player protection and generate revenues, says the Interactive Gaming Council
 
The non-profit, online gambling trade association, Interactive Gaming Council, has urged the Canadian province of Ontario to take a firm decision on the regulation and licensing of online gambling in the interests of legal clarity, enhanced player protection and the generation of tax revenues.
 
In a statement Thursday, the IGC noted that Ontario has a debt problem that government is combating with an austerity and outsourcing program, but it asks where new revenue generating opportunities are being exploited.
 
The IGC clearly approves of the proposed changes to the business model adopted by the Ontario Lottery and Gaming Corporation, which could see increased private participation in operating gambling activities, leaving the OLG to focus its efforts on policy and regulatory oversight
 
"The Interactive Gaming Council applauds this direction, as it supports the backbone of a regulatory model for online gaming," the IGC statement advises.
 
"The OLG has publicly declared its intentions to enter this [online gambling] space in 2013, and we hope that the corporation's preferred model for its existing operations will also be applied to any new offerings and will not follow the current model of picking only one supplier."
 
Another option for the OLG would be to regulate the Internet activity that is already taking place in Ontario, the IGC suggests, pointing out that this would provide legal clarity for Canadian players and online gaming companies with Canadian customers; harmonise standards with other leading jurisdictions to enhance consumer protection; and provide additional tax revenue and job opportunities for the provincial government in these challenging economic times.
 
"Online gaming is an activity that people are enjoying in great numbers," the trade association points out. "The IGC is not advocating in favour of an expansion of gaming on the Internet -- that ship has sailed, so to speak, as it is an activity that is already being undertaken here in Canada, as it is around the world. Governments in other jurisdictions have embraced this market and have established successful open market regulatory regimes.
 
"Just last week Britain announced it is putting together plans to alter the tax policy for online gambling and make it worthwhile for companies to do business in England. Taxes would be paid at the point of consumption - or where the bettor is - rather than the point of supply, where the operator is. A company based offshore would still be required to pay taxes to England, even if its operations are in in the Isle of Man. By changing the tax benefits, more incentive will be provided to open up operations in Britain and hire local workers.
 
"The IGC would like to see Canadians benefit from this approach as well, starting with Ontario."

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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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