Online Casino Transfer: News - Nevada Regulation Requested

03/21/2010		Online Casino Style: News Nevada Regulation Requested -2
Home History Games News Dictionary		continued from Nevada Regulation Requested - 1 One of the first reporters on the story was the well-respected Howard Stutz of Gaming Wire. He credited Gaming Control Board member Randall Sayre with the draft, asking for additional clarity for contracts between internet gambling interests and Nevada casinos. "We don't have a policy and clearly the board needs to boil down exactly what that policy needs to be," Sayre told GamingWire. "Some gaming licensees play carefully by the rules and others do not. I do not believe the board can remain silent on this any longer." He’s not alone in the opinion, either. Frank Schreck, a veteran lawyer for the industry believes that the board needs to set guidelines now, setting up a regulated structure for the intersection of land-based casinos and online gambling counterparts. The responsibility for adhering to whatever rules are decided should fall squarely on the shoulders of the Vegas casinos, he said. It’s not a matter of restriction, just regulation, so that all companies are on the same page. One of the issues addressed in the policy reform will be an analysis of the ‘.com’ versus ‘.net’ distinction that some online casinos are doing to avoid issues with the enforcement authorities in the US. Though the Unlawful Internet Gambling Enforcement Act places the burden of punishment on the financial industry, gaming firms have also been targeted by the Feds for accepting American players, something that some unscrupulous companies are trying to avoid by changing the tag on their website domain names. Some regulations are particularly unfavorable for the land-casinos, as the World Series of Poker proved several years ago. Their implementation of a rules that prohibited online gamblers from qualifying over the net dropped the number of entries by more than 27 percent from the previous year. Soon after, a loophole was recognized that allowed the internet gambling companies to continue to run qualifiers, but pay the winning sponsorship packages straight to the players, who were then on their own. Ironically, the boom of online gambling is to be credited for the surge of growth the WSOP saw in 2003.

03/21/2010

Online Casino Style: News
Nevada Regulation Requested -2

continued from Nevada Regulation Requested - 1

One of the first reporters on the story was the well-respected Howard Stutz of Gaming Wire. He credited Gaming Control Board member Randall Sayre with the draft, asking for additional clarity for contracts between internet gambling interests and Nevada casinos. "We don't have a policy and clearly the board needs to boil down exactly what that policy needs to be," Sayre told GamingWire. "Some gaming licensees play carefully by the rules and others do not. I do not believe the board can remain silent on this any longer."

He’s not alone in the opinion, either. Frank Schreck, a veteran lawyer for the industry believes that the board needs to set guidelines now, setting up a regulated structure for the intersection of land-based casinos and online gambling counterparts. The responsibility for adhering to whatever rules are decided should fall squarely on the shoulders of the Vegas casinos, he said. It’s not a matter of restriction, just regulation, so that all companies are on the same page.

One of the issues addressed in the policy reform will be an analysis of the ‘.com’ versus ‘.net’ distinction that some online casinos are doing to avoid issues with the enforcement authorities in the US. Though the Unlawful Internet Gambling Enforcement Act places the burden of punishment on the financial industry, gaming firms have also been targeted by the Feds for accepting American players, something that some unscrupulous companies are trying to avoid by changing the tag on their website domain names.

Some regulations are particularly unfavorable for the land-casinos, as the World Series of Poker proved several years ago. Their implementation of a rules that prohibited online gamblers from qualifying over the net dropped the number of entries by more than 27 percent from the previous year. Soon after, a loophole was recognized that allowed the internet gambling companies to continue to run qualifiers, but pay the winning sponsorship packages straight to the players, who were then on their own. Ironically, the boom of online gambling is to be credited for the surge of growth the WSOP saw in 2003.