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POSITIVE SIGNS ON U.S. LEGALISATION FOR ONLINE GAMBLING

Two positive but unrelated opinions on the legalisation of online gambling in the United States were given this week, adding credibility to a growing optimism that this year will see the United States joining other progressive Western nations in permitting controlled and regulated betting over the Internet.
 
The first opinion comes from the highly respected business analysts at investment bankers Goldman Sachs, who have issued a note to investors predicting that the Americans will legalise and regulate the online gambling industry, woth up to $12 billion a year according to a report from The Examiner.com.
 
The note covers the latest attempt by Barney Frank, chairman of the House Financial Services Committee, to introduce legislation that recognises the rights of individual states in legalising and regulating carefully vetted online gambling providers. If passed (see previous InfoPowa reports) this bill would largely negate the controversial Unlawful Internet Gambling Enforcement Act which has cost the industry billions.
 
Goldman Sachs advises investors "We believe it is logical to assume that the US market will eventually regulate, given the potential implications for US tax take, if nothing else."
 
“Based on a simple ‘grossing up’ of PartyGaming’s rake relative to its 9 percent market share, the US poker market alone was worth $1.5 billion in 2008,” the report noted.
 
“Were the market to be legalised, we believe that the size of the revenue opportunity could increase materially,” it continued. “Based on an assumption of 30 percent penetration of offline poker players and $300 gross gaming revenue (GGR) per player, we estimate that a legal poker market could be worth $3 billion a year.” 
 
“Were GGR to increase to 45 percent and GGR per player rise to $400, the size of the poker market alone could be worth $6 billion. We also estimate that the casino market could expand to a similar scale, based on various offline penetration assumptions.” 

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But US players will have to be patient, it appears. There is a strong likelihood that online poker may be legalised in a number of states before the federal government makes any changes to the current laws, the analysts opined, noting that Florida and California in particular could be possible early adapters.  And the Franks legislative proposals to liberate the US online gambling market have been delayed until September due to pressure of other work in Congress, and may not be politically debated until the new Congress.
 
“The momentum at state level, where widening state budget deficits are ratcheting up financial pressures, is clearly building,” the report pointed out. “Indeed, if California and Florida move forward with legislation to legalise online poker, this could prove the catalyst for other states to follow suit”.
 
The second perspective came from the highly experienced Canadian online gambling executive Mitch Garber, who until recently headed up Party Gaming and is now managing the new online gambling division of Harrah's Entertainment.
 
In an interview with EGRmagazine.com Garber was bullish about the future of the online gambling industry in Northern America, opining that the egaming scene would be dominated by “a few strong, global operators” where Americans would be free to gamble online legally.
 
“The future of online gaming is going to be not dissimilar from the current situation with land-based gambling," Garber predicted. "There will be a few, very strong global operators that dominate, and obviously it is Harrah’s strategy to be one of those leading global operators, and to leverage our brands and the expertise of the people that I’m bringing on board to see that that happens.
 
“Caesar’s, Harrah’s and the World Series of Poker are all strong brands and part of our strategy is to leverage those. Caesar’s, Harrah’s and the WSOP are the most powerful brands globally, and even if you don’t see them in Europe they are still strong and we will use them online.”
 
Garber emphasised that Harrah’s is not yet a global business. “The idea is that ultimately Harrah’s will be a global business,” the executive explained. “Today it is not yet a really global business because online gaming is an activity not yet legal in the US, which is the biggest internet market in the world, but the UK and the rest of the EU and the positions they have taken are creating a positive market for opportunity, and we are exploring those opportunities.”
 
Commenting on US regulation, Garber said: “I’m very confident that legislators will see that this is an industry that can be properly regulated, and that the technology exists to alleviate concerns about money laundering or age verification.
 
"It boils down to the activity being properly regulated and properly taxed. Gaming is an important revenue source in the USA and interactive gaming could be an important extension of that.”

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Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

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.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

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.

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