Online Casino Transfer: News - Stewart Opines on Online Gambling

05/01/2010		Online Casino Style: News Stewart Opines on Online Gambling - 1
Home History Games News Dictionary		Daniel Stewart, one of the most well known and respected names in the stock broker worlds, has released a statement on their opinion of the future of online gambling, a statement that looks good for the internet casino industry, should he prove to be right. The Stewart firm, which has made his own career through success on the London stock exchange, was quoted as saying that it is their perception that the online gambling initiatives currently being considered by the US government have a good chance of being passed and ratified into law before the year is out. Some are counter-opining that Steward might be a little too optimistic on the issue, considering the amount of opposition the legalization bill holds in the US government, but still others are hailing it as another reason to continue hoping. The reasoning behind the judgment is by far nothing new, as the current laws set by the Unlawful Internet Gambling Enforcement Act of 2006 do little to effectively discourage online gambling, causing only more strife for the already struggling financial sector in the US. Offshore companies completely disregard the UIGEA, the banks continue to lobby for its enforcement to be postponed, and as a prohibition measure, it has been proved to be utterly ineffective. With as popular as online gambling continues to be with American bettors, change is the only logical conclusion to the issue. Though Stewart did not make any specific commentary on the bill already in progress by Congressman Barney Frank, he did mention the proposal to be set forth by US Senator Harry Reid of Nevada. According to Stewart, the Reid bill is nearly ready for introduction into the US legislative system. Stewart said that Reid “…and his pro-legislation cohorts are preparing a bill that could be introduced into the Senate within the next three months, and ready for approval by the President during the second half of 2010.” The bill is expected to address most specifically the game of online poker, extending and hopefully concluding once and for all the issue surrounding poker’s legality based on ‘luck’ versus ‘skill.’ Traditional internet casino betting, nor sports betting services are to be excluded from the bill’s wording, two areas which would be covered for regulation under Frank’s proposal. Reid has presumably focused on the game of poker to make it an easier sell to politicians, and harder to argue for the anti-online gambling lobbying groups. to be continued in Stewart Opines on Online Gambling - 2

05/01/2010

Online Casino Style: News
Stewart Opines on Online Gambling - 1

Daniel Stewart, one of the most well known and respected names in the stock broker worlds, has released a statement on their opinion of the future of online gambling, a statement that looks good for the internet casino industry, should he prove to be right. The Stewart firm, which has made his own career through success on the London stock exchange, was quoted as saying that it is their perception that the online gambling initiatives currently being considered by the US government have a good chance of being passed and ratified into law before the year is out.

Some are counter-opining that Steward might be a little too optimistic on the issue, considering the amount of opposition the legalization bill holds in the US government, but still others are hailing it as another reason to continue hoping. The reasoning behind the judgment is by far nothing new, as the current laws set by the Unlawful Internet Gambling Enforcement Act of 2006 do little to effectively discourage online gambling, causing only more strife for the already struggling financial sector in the US.

Offshore companies completely disregard the UIGEA, the banks continue to lobby for its enforcement to be postponed, and as a prohibition measure, it has been proved to be utterly ineffective. With as popular as online gambling continues to be with American bettors, change is the only logical conclusion to the issue. Though Stewart did not make any specific commentary on the bill already in progress by Congressman Barney Frank, he did mention the proposal to be set forth by US Senator Harry Reid of Nevada.

According to Stewart, the Reid bill is nearly ready for introduction into the US legislative system. Stewart said that Reid “…and his pro-legislation cohorts are preparing a bill that could be introduced into the Senate within the next three months, and ready for approval by the President during the second half of 2010.” The bill is expected to address most specifically the game of online poker, extending and hopefully concluding once and for all the issue surrounding poker’s legality based on ‘luck’ versus ‘skill.’ Traditional internet casino betting, nor sports betting services are to be excluded from the bill’s wording, two areas which would be covered for regulation under Frank’s proposal. Reid has presumably focused on the game of poker to make it an easier sell to politicians, and harder to argue for the anti-online gambling lobbying groups.

to be continued in Stewart Opines on Online Gambling - 2