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Barney Frank Says Online Casino Ban Delay a Move for Freedom
Barney Frank praised the wisdom of Treasury and Federal Reserve officials in postponing the compliance deadline for the online casino payment block.
US Congressman Barney Frank reacted positively to the news today that the federal government had decided to delay the compliance deadline concerning the online casino payment ban. Frank said the decision to delay UIGEA implementation protected the freedom of US residents.
Frank released a short written statement giving credit to the Treasury and Federal Reserve for the postponement, and referred to UIGEA regulations as “these midnight regulations promulgated by the Bush administration which would curtail the freedom of Americans to use the Internet as they choose.” He also said the terms of compliance placed a heavy and unfair burden on strained financial service providers.
“The Department of the Treasury and the Federal Reserve Board of Governors deserve a great deal of credit ,” read Frank’s statement. “This will give us a chance to act in an unhurried manner on my legislation to undo this regulatory excess by the Bush administration.”
Frank has long attacked the online casino ban from both philosophical and practical standings. He has said Congress has no business limiting what an individual may do in the privacy of his own home.
But Frank has also pointed out the ineffectiveness of the UIGEA at achieving its stated goals, including protecting consumers and children. Rather than guarding US residents, Frank says, the online gambling payment ban has left them with an unregulated industry whose most dubious members exploit the advantage the ban gives them over more honorable operators.
Further, Frank has proposed legislation to tax Internet gambling while regulating it, a move that could generate several billion a year for US coffers.
The government will give legislators and financial companies another six months to address UIGEA concerns before demanding compliance.
Published on November 27, 2009 by MattMiller
UIGEA Delayed, Say Multiple Reports
U.S. Online Gaming Ban Rumored to Be Delayed By Six Months.
November 26, 2009 (CAP Newswire) — Although it hasn’t yet been officially confirmed by any U.S. government official — an important factor to keep in mind — many sites are nonetheless reporting that the U.S. Treasury Department has agreed to delay the implement of the Unlawful Internet Gambling Enforcement Act (UIGEA), the law that essentially outlaws online gaming in the U.S., just days before it as to be implemented. (And just in time for the American holiday of Thanksgiving, as well.)
The source is cited as iMEGA, although that organization hasn’t posted official word on its website. (That may be because of the holidays, however.) At any rate, plans are proceeding for a December 3 hearing in which Barney Frank will present the case for his bill, which seeks to overturn the UIGEA and create a new framework for regulated online gaming in the United States. Still, if the rumors are true, this will buy Frank and his colleagues a bit more time to finish their efforts in Congress.
Why Players Should Avoid Online Casino Bonuses
Recently we had one of our forum members post a negative comment about 50 States Casino and how for months their customer service had screwed her over in receiving her requested payout of over $1,000 (read her original post here)
We decided to contact customer support at 50 States Casino and to their credit they contacted us back immediately and informed us that the player accepted the $25 dollar bonus and that she played through the required 50x wagering to qualify for a payout. What the player did not tell us is that she was told in the beginning through customer support chat is that the max payout after accepting a bonus is only $100.
We were sent the chat transcripts and sure enough the casino made the player aware of this max cashout immediately after she accepted the bonus. Now there were some huge problems with customer support later on when the player tried to cashout out the $1100 in winnings and we also discussed this with 50 States casino and again to their credit they admitted past problems and assured us that they are working diligently to train staff in dealing with issues such as these.
The reason this post is titled “Why Players Should Avoid Online Casino Bonuses” is simple. Bonuses are put in place to entice new players to sign up for an account and deposit real money. For example: deposit $100 get $100 free. The problem is some new players don’t bother to read the terms and conditions before accepting and playing the bonus and that’s where the conflicts begin. If this player would have simply deposited her money and refused the bonus and won, she would have been able to cash out the entire winnings of $1100. That simple.
Although we here at Casino Scam Report post online casino bonuses for viewer information we do not endorse bonus gameplay because 99.9% of the time it leads new players to nothing but heartbreak when they find out the limits of cash payouts. If you decide to play with bonus money take a minute or two to read the casino terms and conditions on bonus play.
Online Casino Ban Delay Being Considered by Treasury
“Newsweek” quoted an unnamed source in the Federal Reserve as saying no decision had been made regarding delaying the implementation of the UIGEA online casino ban December 1st.
A flurry of letters have implored action, or the lack of it, by the US Department of the Treasury and the Federal Reserve in the matter of the implementation of the UIGEA online casino ban. Letters from nineteen Congressmen and from the representatives of the Poker Players Alliance, the American Greyhound Track Operators Association and the National Thoroughbred Racing Association ask the authorities to delay the December 1st date, while a letter from Senator Jon Kyl and Representative Spencer Bachus insist the plan proceed as scheduled.
According to “Newsweek,” a source inside the Fed has said the matter is still up in the air, with no decision yet made. Indecision would seem to lead to at least a short-term postponement while the arguments are carefully examined, essentially the point of the nineteen Representatives asking for time.
The online casino ban has demonstrated to have flaws and side effects unforeseen, at least by its supporters. The horse and dog racing groups joined the others requesting delay of the Internet gambling block because, despite specific writing in the law, their sports have found payment and credit companies unwilling to take chances on any gambling transactions.
The problematic and dysfunctional nature of the Internet casino ban has been apparent since the act was snuck through Congress as a last-second addition to a Homeland Security bill. State lotteries in New Hampshire and North Dakota have had online payment systems blocked as illegal gambling, even though they are clearly legal, and excused by the UIGEA itself.
Forcing banks and credit card companies to satisfactorily define amorphous terms like illegal gambling has caused trouble already, and financial institutions insist it will only get worse. Even though Treasury officials are clearly reluctant to interfere with legislated processes, the mess being caused by the UIGEA may lead to a last-minute reprieve for online gambling patrons.
Published on November 22, 2009 by Tom Weston
63: The Number of Co-Sponsors for Barney Frank Poker Bill
Rep. Anthony D. Weiner, who represents New York’s 9th District, has became the sixty-third co-sponsor of the Frank Bill which seeks to legalize online poker.
Legislation aimed at reversing a three-year-old ban on Americans placing online bets was introduced last May by U.S. House Financial Services Committee Chairman Frank.
Frank said the bill would give the U.S. Treasury Department the authority to establish regulations and license Internet gambling operators.
Banks are required to stop known online gambling transactions beginning December 1 as part of new regulations.
In the past, Weiner has sponsored bills to move foreign fashion models into a less-competitive visa category and he is a big advocate of a National Healthcare system. Weiner was a one-time roommate of the Daily Show’s Jon Stewart.
Jagajeet Chiba, Gambling911.com
UK Online Gambling Stocks Hot, Says Wall Street Journal
November 16, 2009 (CAP Newswire) — The online gambling business just seems to be getting stronger and stronger, particularly in the UK.
The Wall Street Journal, one of the world’s most respected sources of global financial information, reports that British Internet casino and online betting stocks have been “upgraded,” based on a “buy” rating placed on the industry there by Deutsche Bank.
“[Deutsche Bank] believes the sector is an attractive place for investors to be during the next 12 months,” the article reported. “It raised PartyGaming and Playtech, both to buy from hold, and upped PartyGaming’s target price to 310p from 270p, and Playtech’s to 443p from 420p.”
This means that the brands are enjoying stronger growth and improved financial performances — good signs that they’re still able to bring in players. The story also related how the bank initiated ratings for other major UK online gaming companies 888 and Sportingbet, labeling both with “buy” status. Read the Wall Street Journal’s story here.
That’s the good news; less positive is the report out of the UK’s Independent magazine that Britain’s online poker “boom” may be slowing down. However, that’s just speculation, based on the assumption that the incredible levels of growth Internet poker has experienced in the past few years there — 72 percent by the last measure — cannot be sustained. However, financial world realities often don’t play by those sorts of rules.
Israel Police Bust Internet Gambling Operation
Israel Police and the Tax Authority officials broke up a massive online gambling ring on Monday.
The operation was handled jointly by the police’s specialist Lahav 433 unit, Tax Authority investigators, state prosecutors, and the Israel Money Laundering Prohibition Authority.
Over 300 police officers and Tax Authority officials raided the homes of 37 suspects across the country. Dozens of gamblers were taken to police stations for questioning and tens of millions of shekels in assets seized.
Police and Tax Authority officials obtained twenty court orders prior to the raid allowing them to seize suspects’ vehicles and assets, and 160 bank accounts were frozen.
The investigation began in 2008 when authorities acquired intelligence about a 38-year-old resident of Or Yehuda who operated a betting website called bet555.net. The site later changed its address betbet.us. Over a two-and-a-half year period the site raked in hundreds of millions of shekels in profits.
“We employed techniques to monitor the website which are very similar to eavesdropping,” a police source told The Jerusalem Post.
In a statement released on Monday, police described the ring as a “pirate sports gambling industry that has taken in more than NIS 340 million since 2007.”
“Internet gambling is one of the severe crime phenomenon among Israeli crime organizations,” police added. “It brings with it other forms of serious crimes, like aggravated extortion, violence, money laundering, tax offenses, and theft of moneys from public funds.”
An elaborate hi-tech support network enabled the website’s ongoing operation, police said, including a website construction team, a technical support team, and betting agents.
“Millions of shekels in clean profit were made by the website’s operators,” police said. “Between April 2007 and June 2009, 70 million visits were recorded on the website, mostly by gamblers,” police added.
Over the past year, a team of state prosecutors and investigators from the Tax Authority and police plotted a course aimed at striking a blow to illegal internet gambling rings.
Police said Monday’s raids were the result of the first undercover investigation led by the Joint Intelligence Center (JIC).
In March 2007, the government set up the JIC and tasked it with providing information to various police and Tax Authority task forces investigating crime organizations.
The center is based in the Intelligence Branch of the Israel Police headquarters in Jerusalem. It includes police representatives, Tax Authority officials, and members of the Money Laundering Prohibition Authority.
Source: Jerusalem Post
PartyGaming Gets Ready for Return to US
ONLINE gaming group PartyGaming said yesterday it had completed the acquisition of the World Poker Tour brand, positioning itself for a return to the US market when legislation allows it. PartyGaming paid $12.3m (£7.3m) for the World Poker Tour (WPT) brand and other assets – including the rights to a business with over 16,000 subscribers – beating rival bidder Mandalay Media to seal the deal. Mandalay had made an indicative offer of $36.5m for the whole of WPT Enterprises. PartyGaming will also pay a minimum of $3m over the next three years as part of a revenue share agreement. PartyGaming chief executive Jim Ryan said the firm’s plans include using the ClubWPT subscription platform to “leverage our 12m-strong US player database via a Party-branded website.”
Colorado Congressman Says Internet Gambling Ban Failed
US Representative Jared Polis of Colorado makes passionate and reasoned arguments for an end to the UIGEA online casino and Internet gambling ban.
US Representative Jared Polis of Colorado writes in this week’s Roll Call that the attempted online casino ban is a failed policy, and should be replaced with regulation of Internet gambling. He notes that the freedom implicit in the nature of the Internet allows people to patronize online gambling sites, and that regulation would best serve the US and its residents.
Polis is a leading Congressional advocate for Internet freedoms, and speaks of the opportunities for consumers and the economy via online expansions. He says that such problematic, misdirected legislation as the UIGEA only succeeded in “forcing many responsible, publicly traded online gambling operators to stop accepting wagers from consumers in the U.S.,” while allowing many shadier outfits to fill the void.
“There is no meaningful enforcement mechanism against offshore operators,” write Polis.
Polis pans the online casino ban as leaving US consumers unprotected, while allowing the flow of billions of dollars to leave the country untaxed. He points out the numerous objections to the UIGEA by the struggling financial sector, and the disputes with the WTO and US trading partners since the attempted gaming ban.
Polis says Barney Frank is to be commended for “introducing a common-sense framework that would allow adult Americans to gamble online in the privacy of their own homes in a regulated environment that offers numerous consumer protections.”
And Polis illustrates a point often left undiscussed: that US citizens, given a choice, would most likely prefer reputable and audited online casinos and Internet gambling sites run in the US over foreign sites they are now forced to patronize.
Published on November 9, 2009 by TomWeston
BetOnSports’ Kaplan Gets 51 Months in Prison
November 3, 2009 (CAP Newswire) — Gary Kaplan, the founder of BetOnSports who has been detained by U.S. authorities for years, was finally sentenced in a St. Loud court, to 51 months in prison for running an online gambling operation that U.S. authorities deemed illegal because it granted access to U.S. players.
The company he ran, BetOnSports.com, was a billion dollar a year site, based in Costa Rica but focusing on the American market. Kaplan was hoping for a house arrest, reports St. Louis’ KMOX news.
“Kaplan pleaded guilty in August to conspiracy and racketeering charges, complaining at the time that he thought the laws were wrong, but he was admitting to violating them,” KMOX reports. “Today, a more contrite Kaplan read a brief statement that his five lawyers told the judge he had ‘written himself,’ apologizing for what he called his ‘poor choices.’”
Even though the court heard a list of the charities to which Kaplan had continued over the years, amounting to hundreds of thousands of dollars to causes such as “clean drinking water in Africa” and “for women victimized by domestic violence”, the judgment handed down was still harsh, amounting to more than four years behind bars — the maximum allowed under his plea bargain.
Kaplan must also pay 43 million dollars in assets from his online gaming operations, it was reported. He was also ordered to get a high school GED while in prison (?). He’s requesting to have the 31 months of time already served in the county jail counted towards his new sentence.
CSR Approved Casinos
