November 22, 2007
In America, a Congressman has testified that regulating and taxing online gambling could generate up to $42 billion for Federal coffers over the next decade.
The data, based on a detailed tax revenue analysis conducted by an independent accounting firm, was provided in testimony submitted to the House Committee on the Judiciary recently by Representative Jim McDermott. The Washington Democrat also detailed policy refinements to his legislative proposal, the Internet Gambling Regulation and Tax Enforcement Act (IGREA).
‘Even under the most conservative estimates, licensing and regulating Internet gambling and collecting the taxes will provide much-needed revenue to the US Treasury,’ said McDermott.
McDermott stated that $3.1 to $15.2 billion in revenues could be generated by taxing online gambling over the first five years followed by $8.7 to $42.8 billion over the first decade.
‘This is money we are currently losing to other jurisdictions because some of my colleagues’ think we can actually stop people from gambling online,” said McDermott.
The Congressman stated that IGREA had been refined to provide better protections against tax cheats to increase Federal revenues from permissible online gambling activity. In addition, a proposed fee in the legislation would see licensed online gambling operators pay two percent of player deposits to the Government.
‘Most of the revenues generated would come from taxes required under existing law that we currently lose because of a misguided belief that we can actually stop Internet gambling,’ said McDermott.
November 22, 2007
Rumours that online gaming will be enabled on long haul flights have been circuited for over a year, and now one of the UK’s top national tabloids, the Sunday Mirror, has reported that 888 may be offering in-flight gambling as early as 2008.
Ryanair is the suggested airline company that will pioneer the project. It is predicted that they will provide access to the internet, so that passengers can log on exclusively to 888 website and deposit using credit card before playing any of their online games including casino, poker and backgammon.
It is reported that British Airways, Singapore Airlines and Cathay Pacific have also signed up to the scheme. It is expected that others will soon follow. GamCare, the UK based responsible gaming charity has shown concern, calling for caps on the amount of time that people can access the site and play.
November 22, 2007
European trade chief Peter Mandelson has called on the US to allow European companies renewed access to its multibillion-dollar online gambling industry.
Mandelson pushed for an end to the exclusion of European companies and other trading partners from the US online gambling market, arguing that it is a better and fairer solution than compensation.
European online gambling companies saw billions of euros wiped of their market values last year following Washington’s decision to close off its market.
“The US has so far opted for compensation to make right what is wrong. I do not think that compensation does that job,” Mandelson told the European Parliament.
“What we really need is for the legislation to be put right and for foreign operators to stop being excluded and discriminated against in this way.”
November 22, 2007
Wednesday, November 21, 2007
HARRISBURG — An Indianapolis company that recently received Pennsylvania’s last harness racing license has now applied for the state’s last racetrack casino license.
Centaur Inc. was the only applicant to seek the racetrack casino license from the Pennsylvania Gaming Control Board by Monday’s deadline, said board spokesman Richard McGarvey. To seek a slot machine license, an applicant had to first receive a harness racing license from the state Harness Racing Commission.
Centaur has proposed building a $428 million racetrack casino along Route 422, west of New Castle and near the Ohio line. It is now trying to line up financing for the project it is calling Valley View Downs.
Now the gaming board will begin a process, which could take up to a year, to investigate the backgrounds of Centaur officials, who run a racetrack in Indianapolis and a casino in Colorado.
“We look forward to continuing this process and bringing a world-class harness racing and entertainment venue to Western Pennsylvania,” said Centaur spokesman Rick Kelly.
He said construction of the racetrack and casino would take about 12 months after Centaur gets its gaming license. The track will be one-mile in length, the first of that size in the state — most harness tracks are 5/8 mile in length. Centaur estimates the project will create 1,000 full- and part-time jobs at the track, casino, restaurants and shops as well as 1,500 construction jobs.
Centaur waged a four-year battle against Bedford Downs, a Lawrence County-based group, for the last harness license. It is especially valuable because it likely will lead to a slots license for Centaur, which estimates annual attendance at the racetrack casino of more than 4 million people.
The gaming board will hold a hearing on Centaur’s slots license bid in Lawrence County, where the new venue would be located, Mr. McGarvey said. He didn’t have a timetable for the hearing, but said it likely will be in the spring.
Then the board will hold “suitability” hearings in Harrisburg, aimed at making sure there is nothing in the backgrounds of Centaur officials that would make them ineligible to get a slots license and they have the financial wherewithal to complete the project.
So far, licenses have been issued to six racetrack casinos and five of them have opened: The Meadows Racetrack & Casino in Washington County; Presque Isle Downs & Casino in Erie; Mohegan Sun at Pocono Downs near Wilkes-Barre; Harrah’s Chester Casino & Racetrack, south of Philadelphia; and Philadelphia Park Casino and Racetrack in Bucks County. One more will open in February, Hollywood Casino at Penn National Race Course near Harrisburg.
November 03, 2007
Everest Poker are once again pushing boundaries of excellent customer service this week as they announce their new Live the Dream promotion. Reminiscent of Pop Idol, Everest Poker are looking to turn ten players into overnight superstars and become sponsored pros for all of 2008.
The ten lucky winners receive a year long sponsorship package which will see them travel the globe and play in the biggest tournaments for free. Unlike other poker rooms which only sponsor the rich champions that could probably already afford the lifestyle.
The package is worth $100,000 and includes the following:
• European Poker Tour Season 4 Grand Final ($13,000 buy-in)
• World Series of Poker Main Event ($10,000 buy-in)
• Two World Series of Poker Side Events (2 x $2,500 buy-in)
• Two World Poker Tour Season 7 events (2 x $15,000 buy-in)
• Two European Poker Tour Season 5 events (2 x $10,500 buy-in)
• Plus $21,000 in cash for expenses
Qualification is unlike any other promotion seen before. First you must make it into the top 200 finalists. There are two ways to do this, you can either qualify through a number of online satellites or the top rakers on the Summit Leader board will automatically get a place.
Once you have made it into the finals, this is where the real test of your poker personality comes into place. The next stage is called the Casting Call and you must audition your way to the top ten places. This means demonstrating your online poker skill, live poker skill, personality, Everest Poker brand knowledge, blogging skills and speaking skills. You get your own webpage to do this and people will vote on their favourite future superstars.
So if you think you’re the next Mouth of poker or you think that you could have the looks to knock Antonius off his pedestal, sign up to Everest Poker and maybe next year we will be writing about you here at Pokernews.