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REID-KYL Poker BILL SAID TO FAVOUR NEVADA

Sunday October 21, 2012 : REID-KYL Poker BILL SAID TO FAVOUR NEVADA
 
"Demonstrated capabilities relevant to the online poker environment" condition narrows the field down in federal bill
 
Politico writer Steve Friess says after studying the hard-to-get draft of the Reid-Kyl proposal for licensing online poker at the federal level that the bill favours Reid's home state of Nevada.
 
Friess claims that the bill - widely expected to be flighted during the lame duck session of Congress after the presidential elections in early November - sets qualifications for states to licence legal online gambling that only Nevada can meet, giving the state a clear field and an opportunity to profit handsomely from any legalisation.
 
Detailing this conclusion, Friess notes that the bill, which specifically outlaws other forms of online gambling not already exempted, requires that to qualify to be a licensing body for federally sanctioned online poker, a state must have ‘demonstrated capabilities relevant to the online poker environment.’
 
"Only one state fits that description because only one has yet issued any Web poker licenses: Nevada," Friess writes. "In addition, the legislation as written requires a cut of the 16 percent ‘poker activity fee’ collected by the federal government to go to the state in which the poker site is licensed."
 
It appears that Friess is not the only interested party who has managed to get his hands on a copy of the Kyl-Reid draft; the Poker Players Alliance also revealed Friday that it has had a chance to study a copy of the draft, and confirmed that it largely conformed to the widespread stories earlier this month based on speculation and hearsay.
 
However, one critical - and controversial - element is missing; clauses which suggested that poker fans playing on 'illegal' sites could face financial penalties are no longer present, and there is apparently no mention of criminal action against players.

The draft bill does, however, include provisions that will stop players from claiming money from government if enforcement agencies seize the monies of illegal operators or e-cash processors.

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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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