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University Poll Shows Opposition To Legal Online Gambling
A recent poll enacted by Fairleigh Dickinson University, has shown that some people in America have an opposition to the legalization and regulation of online gambling. Through this poll, 67% of the people questioned were found to disagree with online gambling.
The polls covered a series of gambling related questions, most of which had to do with locations associated with gambling, but online gambling, as well as sports gambling, had been covered individually. A total of 1,001 Americans were polled from different demographics, covering both sides of the political ideology and party spectrum, as well as a differentiating ethnicity.
In the poll over online gambling, 200 people were questioned. Of these 200, 21% support changing online gambling laws to allow unfettered and regulated betting. Of these 43 supporters, 29 were male and 14 were female. Very little differentiation was found between the bipartisan factions, as well as their underlying ideological beliefs. Liberals did show a slight bias toward legalization, while conservatives showed a slight bias toward opposition to the change. Just 11% of those questioned had responded with “don’t know.”
Sports betting, one of the major three types of USA Online Gambling, had also been covered. Due to the relatively limited choices for land based sports gambling, online gambling on sports is at an all time high. Respondents to the polls were subsequently questioned over a change in sports betting laws. The whole question stated “Some people say…lots of people bet on sports anyway, so government should allow it and tax it. Others say…legal betting on sports is a bad idea because it promotes too much gambling and can corrupt sports.” Respondents then had to side with the answer that best identifies with them. Out of those questioned, 39% said to allow it and 54% said that it is a bad idea. Men were almost evenly split on the issue, while more women thought it was a bad idea than they did good.
Despite the outcome of this poll, there is a large online gambling community. There have been many recent advancements in the realm of online gambling, and the many factions involved have been gearing up to pass legislation that would remove the restrictions from online gambling and begin a series of taxes on the industry. Currently there are millions in America already engaging in online gambling, or they have in the past.
Source: http://publicmind.fdu.edu/casino/
German poker tournament robbers still on the run
German police were hunting Monday for four bandits who stormed a poker tournament in Berlin and made off with euro240,000 ($328,000) in jackpot money in a brazen daylight heist.
By VERENA SCHMITT-ROSCHMANN
Associated Press Writer
BERLIN — German police were hunting Monday for four bandits who stormed a poker tournament in Berlin and made off with euro240,000 ($328,000) in jackpot money in a brazen daylight heist.
The masked men armed with guns and machetes rushed midday Saturday into the poker tournament with about 1,000 registered players in central Potsdamer Platz at the Berlin Grand Hyatt hotel, stunning the participants and the audience.
Footage on German television showed a hotel security guard battling with one of the robbers, then wrestling a second one to the floor. The captive escaped after his accomplice returned from another room wielding a large metal post and chased the guard away.
On Monday, police were analyzing voluminous video footage of the crime, dusting for fingerprints, talking to witnesses and going over details, said Berlin police spokesman Burkhardt Opitz.
Surveillance footage from outside the building caught one of the robbers without his mask on, but only from behind.
Opitz said police were hoping to put together details and pictures for a public search. He said none of the crime site evidence collected thus far has provided strong leads.
Investigators were checking whether an insider might have tipped the robbers off on when to try and snatch cash from the euro1 million jackpot, Opitz said.
“Even players at the tournament knew when the cashier’s area was open as they had to pay their fees in cash,” he said.
At least two of the four man were armed, one with a machete and one with a revolver, Opitz said.
Rainer Wendt, leader of a major German police union, told n-tv that the weapons used by the robbers, the fact that the heist was pulled off in front of multiple cameras, and other factors pointed to the thieves being amateurs who should be easily caught.
“It was quite apparent that these were not professionals,” he said, calling the robbery “a new dimension of stupidity.”
Seven people were lightly injured during the robbery when players jumped underneath tables and tried to get away, but nobody was seriously hurt, Opitz said.
The European Poker Tour tournament ended Sunday night with U.S. player Kevin MacPhee, 29, taking the euro1 million pot. He also won a seat to the EPT finals in Monte Carlo in April.
The ETP said in a statement that it planned to increase security at future events in the wake of the robbery.
Iowa Religious Group Opposes Online Gambling Plan
DES MOINES, IOWA — the recent announcement by Iowa lawmakers that they are considering a bill to legalize intrastate online gambling was met with resistance by an Iowa religious organization claiming to be a family advocacy group. the Iowa Family planning Center says efforts to expand gambling in the state, particularly the plan to allow Internet poker, would harm state residents.
Chuck Hurley, president of the center, says state officials should look to lower spending, rather than devise new ways to increase revenue. he asserts that, since gambling was legalized in 1989, Iowa has not solved its money problems but has become dependent on gaming revenue.
State Representative Doug Struyk has authored legislation that would let residents create accounts at one of the state’s 17 casinos, which would then be used to fund online poker play. Struyk says regulating Internet gambling only makes sense, as 50,000 residents of Iowa already gamble on the Internet, without protection or taxation.
The IFPC is a thinly-disguised religious fundamentalist organization. Its policies include guarding the freedom of parents to teach children as they wish; for instance, that evolution is a flawed theory because it contradicts the Bible.
On the other hand, the IFPC is far less supportive of individual freedom in other areas. it supports banning gay marriage, and wants gambling made illegal because “it (gambling) wreaks havoc on individuals, families and communities.”
When arguing a point that is untrue, it helps to make broad assertions that may sound passable so as not to draw examination.
PartyGaming The Latest to Report Poor 2009 Showing
With Sportingbet a bit of an exception to the rule, online poker’s 4th largest network, PartGaming, reported a poor showing in 2009 with numbers down to $135.0 million from $144.2 million the year previous.
Party blamed declining poker operations and currency effects. The later should continue to cause problems for the bookmakers and poker sites as the Euro struggles.
The Gibraltar-based company which operates Web sites including PartyPoker, PartyCasino and PartyBets delivered an upbeat outlook, saying it made a “solid start” to 2010 and is “confident” about its prospects even though the macroeconomic environment “remains uncertain”.
Chief Executive Jim Ryan said “2009 has been a tough year, but I believe it has been a year when we have made significant progress. ” He said PartyGaming’s business model “continues to generate strong cashflow”.
The results and outlook prompted the stock to rise, after early trading losses. At 1155 GMT, PartyGaming shares were up 1.5% at 308 pence, valuing the company at GBP1.26 billion. The stock has risen 46% in value over the past 12 months.
Ladbrokes, Paddy Power and William Hill had all reported drops in profit this past week.
Jagajeet Chiba, Gambling911.com
Florida man arrested for processing online poker payments
A Naples Florida man was arrested this week and charged with processing online poker payments. According to a 39 page complaint filed in U.S. District Court, Fort Myers, Michael Olaf Schuett was under federal investigation for processing online gambling payments and using the courier Fedex to distribute winnings.
Bank employees became suspicious when several large transactions from Schuett’s company MCM Capital Management were being precessed through his account.
Reports of clients of Schuett’s company trying to cash or deposit checks were asked by the banks where the checks came from were told that the money was from online poker winnings.
Fedex employees became suspicious about the large amounts of parcels leaving Schuett’s home on a daily basis and opened some of the parcels to find that indeed checks where being sent out to clients.
Schuett is a German National and is being held without bond in Lee County jail A federal judge ruled Monday he was a possible flight risk.
Kanhawake Gaming Commission responds to Loto-Quebec
Comments by representatives of Loto-Québec earlier this week in a statement defending its decision to enter the online gambling sector have triggered a response from the Kahnawake Gaming Commission.
In its statement, Loto-Québec claimed that Quebeckers currently have access to over 2 000 “illegal and unregulated gaming sites that are of dubious integrity,” and voiced an intention to “…channel the gaming offer in a controlled, safe environment with irreproachable integrity.”
The KGC has noted what it calls the “cavalier denunciation of all existing online gaming sites – presumably including those licensed and regulated not only in Kahnawake, but also in the UK, Alderney, Antigua, Isle of Man, Malta, Gibraltar and other respectable licensing and regulatory jurisdictions.”
“Characterizing all online gaming sites that presently offer their services in Québec as lacking in integrity is offensive, not only to gaming regulators throughout the world but also to the many outstanding entrepreneurs that have built this industry and who are much better positioned to comment on its integrity than is Loto-Quebec,” the KGC statement opines.
Kahnawake was one of the first jurisdictions in the world to recognise the opportunities afforded by the interactive gaming industry and for over 11 years the KGC has been continuously licensing and regulating a wide range of interactive gaming sites. The KGC was established in 1996 and has been continuously licensing and regulating online gaming since July, 1999 – longer than almost any other jurisdiction in the world.
The Mohawk Territory of Kahnawake is a sovereign jurisdiction located just outside Montréal, Québec, Canada.
Operators that are licensed by the KGC host their equipment at Mohawk Internet Technologies, a world class ISP and data center located within the Mohawk Territory of Kahnawake: http://www.mohawk.ca
The KGC’s Regulations concerning Interactive Gaming were developed in consultation with Frank Catania, a renowned expert in the regulation of online and terrestrial gaming. The Commission is headed by chairman Dean Montour and comprised of three members appointed by the Mohawk Council of Kahnawake. http://www.gamingcommission.ca
Don’t Risk an Audit by the IRS: Know the Rules on Gambling
NEW YORK (AP) — Clinching the office pool for March Madness entitles you to a pot of money and gloating rights. And nobody can take that away from you, except maybe the IRS.
Even if your winnings seem like chump change, any money you pocket from gambling is considered taxable income. It’s not likely that the Internal Revenue Service will come after you for your NCAA pot, but there are times when reporting even casual winnings becomes more formal.
Depending on how often you frequent casinos or buy lottery tickets, you might also want to think about keeping a log of your gambling habit.
Regardless of whether you come out a winner, some points to remember when it comes time to file.
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WHEN WINNINGS GET REPORTED
Casinos, race tracks and other gambling operators are required to document winnings once they reach a certain threshold.
With slot machines and bingo, for example, casinos report any single payout of $1,200 or more to the IRS. For keno, it’s $1,500 and $5,000 for poker tournaments.
For horse racing and lottery tickets, winnings of $600 and above are reported when they’re more than 300 times the amount of the bet.
If you’re lucky enough to find yourself in any of the above scenarios, you’ll be asked for your Social Security number by the venue so your winnings can be reported. You’ll also get a copy of the W-2G form documenting the payment before you walk away.
You may not leave with all your winnings either. Depending on the size and type of bet, the standard 25 percent federal income tax may be deducted from your winnings on the spot. You can also request a deduction for your state income tax, which will vary depending on where you live.
If you decline to give your Social Security number, the house keeps 28 percent of your winnings for federal taxes.
The same rules generally apply for any non-cash prizes worth more than $5,000, such as a car in a raffle. Either you or the gambling operator will be responsible for paying taxes based on the prize’s fair market value. If the operator picks up the taxes, that gets reported as income for you too.
Of course, not all gambling winnings trigger a W-2G form. It’s up to you to report smaller winnings, although you won’t be audited for failing to report the $100 you won at a blackjack table.
As with any gambling income, such winnings can be noted on your 1040 form under ”other income.”
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MAKING THE MOST OF YOUR LOSSES
You can deduct gambling losses, but only up to the amount of your winnings. So if you win $1,000 on a lottery ticket, that’s as much as you can deduct in losses for the year.
Gambling losses have to be itemized too, and it’s not always worth deducting them.
If your standard deduction is $5,000, for example, and your itemized deductions including your gambling losses total $3,000, you’re obviously better off taking the standard deduction.
The IRS might also ask you to document your losses, so be ready to back up your claims. The agency suggests you do this by keeping a diary that includes:
–The date and type of gambling
–The name and address of the venue
–The names of anyone present with you at the time
–The amount you won or lost
You also want to keep any proof of winnings and losses, such as W-2G forms, losing tickets, bank withdrawals or credit card statements.
If your return is audited, you could also be asked about any other smaller winnings or comped rooms or meals you didn’t report. So keeping a log is a good idea if you’re a frequent gambler, said Jackie Perlman, a senior analyst with The Tax Institute at H&R Block.
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DETERMINING WHETHER YOU’RE A PRO
It’s tempting to deduct travel and other gambling costs as business expenses. But just because you gamble regularly or even earn a nice chunk of money from poker tournaments, it doesn’t mean you’re a professional gambler in the eyes of the IRS.
You’re generally considered a professional if you gamble regularly, continuously and to earn a living. You should also be able to show that you treat your gambling like a business, and keep appropriate records, Perlman said.
If you write off your costs as business expenses and the IRS determines that you’re not a professional gambler, you could be penalized with a fee for paying too late or too little in taxes.
If you do qualify as a professional gambler, the main perk is that you can deduct gambling-related expenses. You still won’t be able to deduct gambling losses in excess of your winnings.
California Congressional Candidate Supports Online Poker
Another candidate gets on board with legalizing and regulating online poker.
Peter Mathews is running for a seat in the U.S. House of Representatives. He is a democrat in California’s 37th district that includes Long Beach, Carson, Compton, and Watts, says that he supports both Rep. Barney Frank’s and Sen. Robert Menendez’s poker bills in Congress.
“There’s an ethical question here. I believe the government shouldn’t interfere with certain types of human behavior, as long as it’s not hurting anyone else — especially if it’s a game of skill,” said Mathews.
Mathews has stated that he hasn’t been asked much about online poker related issues during his campaign but a few online poker players have asked him what his stance is on the issues.
“I want to make sure that it’s highly regulated, and that especially the state governments would benefit from the tax revenues,” sand Mathews.
He is also in favor of regulating and licensing online poker to more than just one group to keep the playing field open and fair.
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MasterCard Blocking Online Poker Deposits From US Customers
The Unlawful Internet Gambling Enforcement Act is not set to take effect in the US until June, but already the trickle down effect of the law are being felt. MasterCard has become the first of the major credit card companies to block transactions for online poker.
Up until recently, MasterCard and other credit card companies have been slow to adapt to the laws set forth in the UIGEA. MasterCard has attempted this type of block before, but were unsuccessful after the gaming companies changed their codes to get their transactions to process.
Lately, the US government has been seizing bank accounts related to online gambling sites. These seizures have millions of dollars held up, and the US is currently trying to get their hands on the funds in forfeiture rulings.
Instead of changing the codes again, it appears that online poker sites will continue their operations without MasterCard as a deposit option. The logo has been removed from some big online sites, still leaving other options for US players looking to enjoy online poker.
Representative Barney Frank, meanwhile, is still collecting supporters in Congress to attempt to overturn the UIGEA. Frank has introduced legislation that not only would overturn the law, but would also set up a regulated Internet gambling system in the country.
CSR Approved Casinos
