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2006/12/07
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When it comes to preventing problems associated with bad business practices and out and out fraud, knowledge is the key. Knowing what problems are possible can allow a player to avoid issues with payments or personal data input. Educating the pubic as well as operators about the methods to keep personal data secure is the responsibility of the internet security providers. Coming up at the inaugural Digital Gaming and Lottery Policy Summit December 6th at the Hilton Alexandria Mark Center in Washington, D.C. Experian a leading global information services company and iovation which protects online businesses and their end users will join forces and present a fraud prevention session.
Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and Sao Paulo, Brazil. Experian provides data and analytical tools to clients in more than 80 countries. The company helps businesses manage credit risk, prevent fraud, and with target marketing offers and automates decision making.
iovation protects against fraud and abuse through an industry-leading combination of shared device reputation and real-time risk evaluation. 2,000 fraud managers around the globe leverage iovation's database of Internet devices and relationships between them to determine the level of risk associated with any type of online transaction. iovation stops over 150,000 fraud attempts each day.
Jon Karl who is Vice President of Corporate Development & the founder of iovation Inc commented on the planned session, “there is a need for online gaming companies to identify fraud rings, reduce charge backs and maintain regulatory compliance," adding, "Our goal is for attendees to walk away from this session with a clear understanding of how to employ a defense-in-depth, layered fraud prevention process that will enable them to achieve optimal efficacy while minimizing customer friction." The educational session will feature best practices for identity authentication, geolocation and device reputation. The session will also include the methodologies used to strike the right balance between customer experience, fraud, compliance, reputational risk and cost.
Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and Sao Paulo, Brazil. Experian provides data and analytical tools to clients in more than 80 countries. The company helps businesses manage credit risk, prevent fraud, and with target marketing offers and automates decision making.
iovation protects against fraud and abuse through an industry-leading combination of shared device reputation and real-time risk evaluation. 2,000 fraud managers around the globe leverage iovation's database of Internet devices and relationships between them to determine the level of risk associated with any type of online transaction. iovation stops over 150,000 fraud attempts each day.
Jon Karl who is Vice President of Corporate Development & the founder of iovation Inc commented on the planned session, “there is a need for online gaming companies to identify fraud rings, reduce charge backs and maintain regulatory compliance," adding, "Our goal is for attendees to walk away from this session with a clear understanding of how to employ a defense-in-depth, layered fraud prevention process that will enable them to achieve optimal efficacy while minimizing customer friction." The educational session will feature best practices for identity authentication, geolocation and device reputation. The session will also include the methodologies used to strike the right balance between customer experience, fraud, compliance, reputational risk and cost.
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2006/12/07
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29893
widowmaker9999 wrote:
Pretty standard imo
Well, I used to love her movies like "Mean Girl", "Freaky Friday ost" and "The Parent Trap". But I really disfavor her private lifestyle.
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2011/11/28
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4
Rep. Barney Frank, whose long House career is coming to an end, said Tuesday he was optimistic Congress will approve one of his signature issues and allow people to gamble over the Internet.
Frank, a Massachusetts Democrat who announced this week he was not running for re-election in 2012, said online gambling will remain an important matter in the year remaining in his congressional career.
Ever since the Internet came to relevance about halfway through his 30 years in office, Frank has argued that people should be allowed personal freedom unencumbered by the government to utilize the Web as they see fit, if even to place wagers on games of chance.
At a wide-ranging news conference Tuesday, Frank said he would continue to promote gaming legislation, and he saw an opening for success since Sen. Harry Reid, D-Nev., the influential Senate majority leader, also has taken up the issue.
"I think there is a good chance that something will happen," said Frank, who does not gamble. "It is an important issue to me and I intend to work on it.
"I think personal freedom is very important," Frank said. "I don't understand why I should tell somebody that he or she can't gamble."
Frank became a hero to gamblers when he advanced legislation to legalize and regulate Internet gaming as chairman of the House Financial Services Committee. He led the panel from 2007 until this year, when Republicans captured the House majority and installed gaming critic Spencer Bachus of Alabama as the new chairman.
An online gaming bill passed from Frank's committee in July 2010 but died at the end of the year.
Action on gaming since has shifted to the House Energy and Commerce Committee. Frank has reintroduced an online gambling bill with Rep. John Campbell, R-Calif., but also is supporting less sweeping legislation by Rep. Joe Barton, R-Texas, that would legalize online poker.
Frank's advocacy of Internet gambling "helped build the foundation for the online poker legislative proposals under consideration today," said John Pappas, executive director of the Poker Players Alliance.
Frank, a Massachusetts Democrat who announced this week he was not running for re-election in 2012, said online gambling will remain an important matter in the year remaining in his congressional career.
Ever since the Internet came to relevance about halfway through his 30 years in office, Frank has argued that people should be allowed personal freedom unencumbered by the government to utilize the Web as they see fit, if even to place wagers on games of chance.
At a wide-ranging news conference Tuesday, Frank said he would continue to promote gaming legislation, and he saw an opening for success since Sen. Harry Reid, D-Nev., the influential Senate majority leader, also has taken up the issue.
"I think there is a good chance that something will happen," said Frank, who does not gamble. "It is an important issue to me and I intend to work on it.
"I think personal freedom is very important," Frank said. "I don't understand why I should tell somebody that he or she can't gamble."
Frank became a hero to gamblers when he advanced legislation to legalize and regulate Internet gaming as chairman of the House Financial Services Committee. He led the panel from 2007 until this year, when Republicans captured the House majority and installed gaming critic Spencer Bachus of Alabama as the new chairman.
An online gaming bill passed from Frank's committee in July 2010 but died at the end of the year.
Action on gaming since has shifted to the House Energy and Commerce Committee. Frank has reintroduced an online gambling bill with Rep. John Campbell, R-Calif., but also is supporting less sweeping legislation by Rep. Joe Barton, R-Texas, that would legalize online poker.
Frank's advocacy of Internet gambling "helped build the foundation for the online poker legislative proposals under consideration today," said John Pappas, executive director of the Poker Players Alliance.
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2006/12/07
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29893
Strong support around Georgia in favor of Sunday alcohol sales is energizing some advocates who say the political climate in the state could finally be ripe to expand gambling interests as governments search for fresh revenue sources.
The state House is looking at betting on horse racing. A report commissioned by the state lottery found that casinos at key locations across the state could generate nearly $1 billion a year.
Gov. Nathan Deal vetoed a bill earlier this year that dealt with coin-operated gaming machines but said he would be open to another bill that addressed concerns he had about illegal gambling.
Gambling measures will still be a tough sell in a Republican-led, Bible Belt state. But the mere fact that they are being talked about — not dismissed as a dead on arrival — is a signal to some that that times have changed.
"It's being discussed openly in political and legislative circles, more than I've ever heard," said Tom Perdue, a veteran Georgia Republican strategist.
Perdue said the Sunday sales vote have some lawmakers who have reflexively opposed gambling measures taking a second look.
"They are related," Perdue said. "If not sisters, then definitely cousins."
In Sunday sales votes that took place in counties and cities around the state earlier this month, 105 of the 127 referendums on the ballot passed, according to the Georgia Food Industry Association. The measures flew through without any organized opposition, which has encouraged gambling proponents.
Brian Robinson, a spokesman for Gov. Nathan Deal, said the governor remains opposed to the expansion of gambling.
But Deal's opposition might not kill efforts to bring gambling to Georgia.
Multiple groups have pushed for expanding the state's gaming industry after the lottery started in 1992. Advocates say the state is losing money to neighboring states with more options for players.
One group, the HOPE 20/20 Coalition, is pushing for installing video lottery terminals across the state, a move that would not require a constitutional amendment because state law doesn't specifically ban the machines. Experts estimate the state has between 10,000 and 20,000 illegal video gambling machines already in operation — with profits of about $200,000 each week.
The coalition's aim is to help restore the HOPE scholarship and state's prekindergarten programs back to full funding. The legislature made massive cuts to both programs this year, doing away with full scholarships for all but the state's highest performing students and slashing 20 days out of the pre-k calendar.
The HOPE program also no longer pays for books or campus fees. That means students must shell out thousands more each year to attend college in Georgia.
Deal said the cuts were necessary to prevent the programs from going bankrupt after demand for the scholarships and pre-k outpaced lottery sales.
Georgia lottery board chairman Jimmy Braswell has said the lottery-commissioned study on casinos was meant to "bring some clarity to" how much gaming could raise for the state. The study found that a casino in just downtown Atlanta could bring in nearly $800 million a year if it had 5,000 machines.
"The study shows a potential for a large amount of money, however, there are other social and economic issues to consider," Braswell said in a statement when the study was released in October.
State Rep. Harry Geisinger, a Roswell Republican, is pushing a constitutional amendment that would allow pari-mutuel betting on horse racing in the state. It would need to pass each chamber of the state Legislature by a two-thirds majority and would also need approval by voters.
But it would not need the governor's signature.
Under Geisinger's resolution, money from the horse racing would be poured into the cash-strapped coffers of the HOPE scholarship, pre-k and trauma care.
"Without raising taxes," Geisinger notes. "This would have a huge benefit for Georgia."
Geisinger has been pushing the horse racing initiative for years and says it has bipartisan backing. This year, House Speaker David Ralston gave his blessing to a study committee to give the issue a closer look.
Geisinger said the panel traveled to Lexington, Ky. — on their own dime — to study its impact there. And on Nov. 17, former Breeders' Cup board Chairman Bill Farish and Nick Nicholson, president and CEO of Kentucky's Keeneland Association, trekked to Georgia to meet privately with a group of state legislators and Deal.
In addition to changing attitudes, gambling could get a boost from the sluggish economy. While Georgia's tax receipts have been improving they still lag significantly behind pre-recessionary levels.
Republicans who control both chambers of the state Legislature as well as the governor's mansion are loathe to raise taxes. Gambling revenues would provide a fresh new revenue stream.
"There's not a question that we're in a bad ditch and we need something to jumpstart Atlanta, to jumpstart Georgia," said developer Hal Barry, who's pushing for horse racing in the state.
"When the lottery was voted in, everybody questioned the lottery, and what happened?" he said. "This is something that can help the state of Georgia in a big way."
The state House is looking at betting on horse racing. A report commissioned by the state lottery found that casinos at key locations across the state could generate nearly $1 billion a year.
Gov. Nathan Deal vetoed a bill earlier this year that dealt with coin-operated gaming machines but said he would be open to another bill that addressed concerns he had about illegal gambling.
Gambling measures will still be a tough sell in a Republican-led, Bible Belt state. But the mere fact that they are being talked about — not dismissed as a dead on arrival — is a signal to some that that times have changed.
"It's being discussed openly in political and legislative circles, more than I've ever heard," said Tom Perdue, a veteran Georgia Republican strategist.
Perdue said the Sunday sales vote have some lawmakers who have reflexively opposed gambling measures taking a second look.
"They are related," Perdue said. "If not sisters, then definitely cousins."
In Sunday sales votes that took place in counties and cities around the state earlier this month, 105 of the 127 referendums on the ballot passed, according to the Georgia Food Industry Association. The measures flew through without any organized opposition, which has encouraged gambling proponents.
Brian Robinson, a spokesman for Gov. Nathan Deal, said the governor remains opposed to the expansion of gambling.
But Deal's opposition might not kill efforts to bring gambling to Georgia.
Multiple groups have pushed for expanding the state's gaming industry after the lottery started in 1992. Advocates say the state is losing money to neighboring states with more options for players.
One group, the HOPE 20/20 Coalition, is pushing for installing video lottery terminals across the state, a move that would not require a constitutional amendment because state law doesn't specifically ban the machines. Experts estimate the state has between 10,000 and 20,000 illegal video gambling machines already in operation — with profits of about $200,000 each week.
The coalition's aim is to help restore the HOPE scholarship and state's prekindergarten programs back to full funding. The legislature made massive cuts to both programs this year, doing away with full scholarships for all but the state's highest performing students and slashing 20 days out of the pre-k calendar.
The HOPE program also no longer pays for books or campus fees. That means students must shell out thousands more each year to attend college in Georgia.
Deal said the cuts were necessary to prevent the programs from going bankrupt after demand for the scholarships and pre-k outpaced lottery sales.
Georgia lottery board chairman Jimmy Braswell has said the lottery-commissioned study on casinos was meant to "bring some clarity to" how much gaming could raise for the state. The study found that a casino in just downtown Atlanta could bring in nearly $800 million a year if it had 5,000 machines.
"The study shows a potential for a large amount of money, however, there are other social and economic issues to consider," Braswell said in a statement when the study was released in October.
State Rep. Harry Geisinger, a Roswell Republican, is pushing a constitutional amendment that would allow pari-mutuel betting on horse racing in the state. It would need to pass each chamber of the state Legislature by a two-thirds majority and would also need approval by voters.
But it would not need the governor's signature.
Under Geisinger's resolution, money from the horse racing would be poured into the cash-strapped coffers of the HOPE scholarship, pre-k and trauma care.
"Without raising taxes," Geisinger notes. "This would have a huge benefit for Georgia."
Geisinger has been pushing the horse racing initiative for years and says it has bipartisan backing. This year, House Speaker David Ralston gave his blessing to a study committee to give the issue a closer look.
Geisinger said the panel traveled to Lexington, Ky. — on their own dime — to study its impact there. And on Nov. 17, former Breeders' Cup board Chairman Bill Farish and Nick Nicholson, president and CEO of Kentucky's Keeneland Association, trekked to Georgia to meet privately with a group of state legislators and Deal.
In addition to changing attitudes, gambling could get a boost from the sluggish economy. While Georgia's tax receipts have been improving they still lag significantly behind pre-recessionary levels.
Republicans who control both chambers of the state Legislature as well as the governor's mansion are loathe to raise taxes. Gambling revenues would provide a fresh new revenue stream.
"There's not a question that we're in a bad ditch and we need something to jumpstart Atlanta, to jumpstart Georgia," said developer Hal Barry, who's pushing for horse racing in the state.
"When the lottery was voted in, everybody questioned the lottery, and what happened?" he said. "This is something that can help the state of Georgia in a big way."
Join:
2006/12/07
Messages:
29893
The city won’t have an early Christmas present in the form of a riverboat casino license.
Supporters of a gambling riverboat coming to the city will have to wait until spring for a definitive answer.
Some legislators who have supported the gaming bill in the past were not present Tuesday, and the gaming bill wasn’t called to a vote.
Mayor Scott Eisenhauer said there were many pressing items on the lawmakers’ agenda on Tuesday and the sponsor chose not to call the bill.
“I was not surprised the bill was not called (Tuesday) considering the agenda included bills pertaining to pension reform and tax breaks for Sears and CME (CME Group Inc. is owner of the Chicago Board of Trade and Chicago Mercantile Exchange),” he said.
“While I am disappointed no vote was taken today, this does allow time for the sponsors to meet with the governor in hopes of resolving differences so in the spring a bill can be presented which, when passed, would receive the governor’s signature.
“I am still optimistic that a bill can be crafted which includes Danville and can be supported by both the legislative and executive branch. We will continue to lobby legislators and the governor until this spring when such a bill can be called,” Eisenhauer said.
Lawmakers returned to the Illinois Capitol for a special session on Tuesday, more than two weeks after their work was supposed to be done for the year.
The chief reason for the special session was a package of tax breaks meant to keep some big companies from leaving the state. The $250 million package had been approved by a House committee.
There was a chance gambling could pop up during the brief session. An expansion that included a new Danville casino and slot machines at racetracks failed earlier this month, but supporters want to try again.
The gambling bill in the Illinois House, that includes a casino for the city, was placed on “postponed consideration” earlier this month and can still be considered for another vote. The revised gambling expansion bill, Senate Bill 1849, failed by a 58-53 vote. It needed 60 votes to pass.
Supporters had hoped there would be enough votes to get closer to a veto-proof majority and send a message to Gov. Pat Quinn that this bill is about jobs, economic development and revenue for the state.
The original gambling bill, Senate Bill 744, received 65 votes in the House on May 30. It needed to pick up six more votes this month to garner a veto-proof majority.
The latest measure was a bit smaller than one approved by lawmakers in May. This one drops slot machines at Chicago airports and the state fairgrounds. It also provides a smaller increase in the size of existing casinos. But the bill would still create five new casinos, including one in Danville. And it would allow horse-racing tracks to operate casinos — something Quinn vigorously opposes.
Skokie Democratic Rep. Lou Lang sponsored Senate Bill 744, which the General Assembly passed last spring. Senate President John Cullerton used a procedural move to hold the bill to try to negotiate with Quinn.
Quinn has said he supported new casinos but would not go along with allowing slot machines at horse racing tracks. He also raised concerns about the oversight included in the original plan.
The proposed expansion includes putting a land-based casino in Chicago and new riverboats in Danville, Rockford, near Waukegan and in southern Cook County.
Projections indicate a casino here would generate about 1,200 new jobs and $5 million to $8 million a year in tax revenue. Total economic impact would increase with new restaurants and other development.
Supporters of a gambling riverboat coming to the city will have to wait until spring for a definitive answer.
Some legislators who have supported the gaming bill in the past were not present Tuesday, and the gaming bill wasn’t called to a vote.
Mayor Scott Eisenhauer said there were many pressing items on the lawmakers’ agenda on Tuesday and the sponsor chose not to call the bill.
“I was not surprised the bill was not called (Tuesday) considering the agenda included bills pertaining to pension reform and tax breaks for Sears and CME (CME Group Inc. is owner of the Chicago Board of Trade and Chicago Mercantile Exchange),” he said.
“While I am disappointed no vote was taken today, this does allow time for the sponsors to meet with the governor in hopes of resolving differences so in the spring a bill can be presented which, when passed, would receive the governor’s signature.
“I am still optimistic that a bill can be crafted which includes Danville and can be supported by both the legislative and executive branch. We will continue to lobby legislators and the governor until this spring when such a bill can be called,” Eisenhauer said.
Lawmakers returned to the Illinois Capitol for a special session on Tuesday, more than two weeks after their work was supposed to be done for the year.
The chief reason for the special session was a package of tax breaks meant to keep some big companies from leaving the state. The $250 million package had been approved by a House committee.
There was a chance gambling could pop up during the brief session. An expansion that included a new Danville casino and slot machines at racetracks failed earlier this month, but supporters want to try again.
The gambling bill in the Illinois House, that includes a casino for the city, was placed on “postponed consideration” earlier this month and can still be considered for another vote. The revised gambling expansion bill, Senate Bill 1849, failed by a 58-53 vote. It needed 60 votes to pass.
Supporters had hoped there would be enough votes to get closer to a veto-proof majority and send a message to Gov. Pat Quinn that this bill is about jobs, economic development and revenue for the state.
The original gambling bill, Senate Bill 744, received 65 votes in the House on May 30. It needed to pick up six more votes this month to garner a veto-proof majority.
The latest measure was a bit smaller than one approved by lawmakers in May. This one drops slot machines at Chicago airports and the state fairgrounds. It also provides a smaller increase in the size of existing casinos. But the bill would still create five new casinos, including one in Danville. And it would allow horse-racing tracks to operate casinos — something Quinn vigorously opposes.
Skokie Democratic Rep. Lou Lang sponsored Senate Bill 744, which the General Assembly passed last spring. Senate President John Cullerton used a procedural move to hold the bill to try to negotiate with Quinn.
Quinn has said he supported new casinos but would not go along with allowing slot machines at horse racing tracks. He also raised concerns about the oversight included in the original plan.
The proposed expansion includes putting a land-based casino in Chicago and new riverboats in Danville, Rockford, near Waukegan and in southern Cook County.
Projections indicate a casino here would generate about 1,200 new jobs and $5 million to $8 million a year in tax revenue. Total economic impact would increase with new restaurants and other development.
Join:
2006/12/07
Messages:
29893
Think the stock market is a gamble?
Thanks to one of the world’s largest bookmakers, that sentiment is now more than just rhetoric.
Ladbrokes.com, the online arm of the U.K. gambling firm, recently added the TSX S&P 60 Index and the loonie-U.S. dollar exchange rate to the list of things you can wager on.
You can bet on how either of them will fare during intervals as small as two minutes, or as long as a day.
You can also bet on how the share price of some companies will do. While most of the individual companies listed on the website are based in either Europe, the U.K. or the U.S., some Canadian companies which trade in both the U.S. and Canada are also on the board at Ladbrokes. Among them are faltering tech giant Research in Motion, media and financial information firm Thomson Reuters and Barrick Gold Corp.
Experts say the online financial wagering could appeal to small-time investors, but it might also prove to be a concern for securities regulators and tax authorities.
While it’s likely just a fraction of the size of standard stock markets for now, online financial gambling could come to the attention of the Ontario Securities Commission if it gets big enough, says Moshe Milevsky, a finance professor at York University’s Schulich School of Business.
“Eventually, if the size of this market — and the amount of money wagered — increases, they might start to pay attention,” said Milevsky.
It’s not just the size of the market which could tweak the OSC’s attention though. The wagering also raises the possibility of company insiders manipulating their company’s share price to make their gamble pay off, says Kelley McKinnon, a partner and securities litigator at Gowlings law firm.
“Regulators care if someone manipulates stock prices for their own benefit. Manipulation is an offence. While gambling enterprises wouldn’t be in (the OSC’s) jurisdiction, regulators would likely investigate someone manipulating stock prices in order to win their bet,” said McKinnon, the OSC’s former deputy director of enforcement, and a current member of the OSC’s Enforcement Advisory Committee.
Canadian securities regulations dictate that company insiders must report any holdings in company stock or “related financial instruments,” according to the OSC’s website. That makes the Ladbrokes wagers a security, which the OSC in theory can regulate, says Ed Waitzer, a partner at Stikeman Elliott law firm, and former OSC chair.
“Is it a security? Probably. The case law basically says a security is anything where the value is related to the performance of the entity in some way,” said Waitzer.
Still, because Ladbrokes is based in the U.K., Waitzer believes the trades likely fall outside the OSC’s jurisdiction. It’s another example of the industry trend away from traditional exchanges such as the TSX and New York Stock Exchange to a wide variety of trading platforms such as over-the-counter exchanges, private equity markets and online after-hours trading sites.
“Ladbrokes is just a more extreme example of what’s been happening already,” said Waitzer.
The shift away from traditional exchanges poses a challenge for securities regulators around the world, Waitzer argued, because it hampers their ability to see what’s going on.
“Visibility makes it easier to regulate, and for investor protection,” said Waitzer.
The Labrokes wagering creates the potential for company insiders to trade derivatives outside the view of regulators. No regulator likes to be kept in the dark, Milevsky agreed.
“If investors start to trade on inside information — something that would have been easy to detect in registered markets — I’m sure they will get alarmed,” Milevsky said.
The site also features wagering on the price of oil, gold and other commodities.
Thanks to one of the world’s largest bookmakers, that sentiment is now more than just rhetoric.
Ladbrokes.com, the online arm of the U.K. gambling firm, recently added the TSX S&P 60 Index and the loonie-U.S. dollar exchange rate to the list of things you can wager on.
You can bet on how either of them will fare during intervals as small as two minutes, or as long as a day.
You can also bet on how the share price of some companies will do. While most of the individual companies listed on the website are based in either Europe, the U.K. or the U.S., some Canadian companies which trade in both the U.S. and Canada are also on the board at Ladbrokes. Among them are faltering tech giant Research in Motion, media and financial information firm Thomson Reuters and Barrick Gold Corp.
Experts say the online financial wagering could appeal to small-time investors, but it might also prove to be a concern for securities regulators and tax authorities.
While it’s likely just a fraction of the size of standard stock markets for now, online financial gambling could come to the attention of the Ontario Securities Commission if it gets big enough, says Moshe Milevsky, a finance professor at York University’s Schulich School of Business.
“Eventually, if the size of this market — and the amount of money wagered — increases, they might start to pay attention,” said Milevsky.
It’s not just the size of the market which could tweak the OSC’s attention though. The wagering also raises the possibility of company insiders manipulating their company’s share price to make their gamble pay off, says Kelley McKinnon, a partner and securities litigator at Gowlings law firm.
“Regulators care if someone manipulates stock prices for their own benefit. Manipulation is an offence. While gambling enterprises wouldn’t be in (the OSC’s) jurisdiction, regulators would likely investigate someone manipulating stock prices in order to win their bet,” said McKinnon, the OSC’s former deputy director of enforcement, and a current member of the OSC’s Enforcement Advisory Committee.
Canadian securities regulations dictate that company insiders must report any holdings in company stock or “related financial instruments,” according to the OSC’s website. That makes the Ladbrokes wagers a security, which the OSC in theory can regulate, says Ed Waitzer, a partner at Stikeman Elliott law firm, and former OSC chair.
“Is it a security? Probably. The case law basically says a security is anything where the value is related to the performance of the entity in some way,” said Waitzer.
Still, because Ladbrokes is based in the U.K., Waitzer believes the trades likely fall outside the OSC’s jurisdiction. It’s another example of the industry trend away from traditional exchanges such as the TSX and New York Stock Exchange to a wide variety of trading platforms such as over-the-counter exchanges, private equity markets and online after-hours trading sites.
“Ladbrokes is just a more extreme example of what’s been happening already,” said Waitzer.
The shift away from traditional exchanges poses a challenge for securities regulators around the world, Waitzer argued, because it hampers their ability to see what’s going on.
“Visibility makes it easier to regulate, and for investor protection,” said Waitzer.
The Labrokes wagering creates the potential for company insiders to trade derivatives outside the view of regulators. No regulator likes to be kept in the dark, Milevsky agreed.
“If investors start to trade on inside information — something that would have been easy to detect in registered markets — I’m sure they will get alarmed,” Milevsky said.
The site also features wagering on the price of oil, gold and other commodities.
Join:
2006/12/07
Messages:
29893
Ixgames is dedicated to provide both players and operators crucial online casino information - news on online gambling, online casinos, player issues, and industry events.
[CENTER]Ask and you will receive — seek and you will find...[/CENTER]
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Join:
2006/12/07
Messages:
29893
In the last month, the European Union has been showing no difficulties in compromising and working out the best solutions regarding online gambling for all concerned parties. In a recent resolution created by the European Union in regards to gambling online, the Parliament agreed that all European Union member states that restrict access to the gambling market in their country will have to face court proceedings in order to ensure they comply with the European Union law. This is seen as many to be good news.
A number of member states tend to be very guarding when it concerns their online gambling business, especially when foreign operators are concerned. The states refused to give up monopolistic policies regarding gambling. However, the marketplace policies as far as the entire European Union is concerned, are strictly free market.
The Remote Gambling Association, which represents some of the largest licensed gambling companies, praises this new resolution. It provides a new outlook for many private sector online gambling operators as it provides guarantees regarding compliance with European Union laws. Clive Hawkswood, who is the CEO of the Remote Gambling Association, said that this resolution marks the change in the approach the European Union makes with online gambling to regulate it rather than prohibit it, as well as putting pressure on member states that do not comply.
This new resolution provides clarity concerning the European Commission’s duties to take action when any member state violates what is written in the treaties.
For example, Italy was taken to the European Court of Justice when the country refused to provide an online gambling license to a British online gaming company. Because Italy is one of the newest countries within the industry, the refusal to allow access by a British company was not taken lightly by the court.
A number of member states tend to be very guarding when it concerns their online gambling business, especially when foreign operators are concerned. The states refused to give up monopolistic policies regarding gambling. However, the marketplace policies as far as the entire European Union is concerned, are strictly free market.
The Remote Gambling Association, which represents some of the largest licensed gambling companies, praises this new resolution. It provides a new outlook for many private sector online gambling operators as it provides guarantees regarding compliance with European Union laws. Clive Hawkswood, who is the CEO of the Remote Gambling Association, said that this resolution marks the change in the approach the European Union makes with online gambling to regulate it rather than prohibit it, as well as putting pressure on member states that do not comply.
This new resolution provides clarity concerning the European Commission’s duties to take action when any member state violates what is written in the treaties.
For example, Italy was taken to the European Court of Justice when the country refused to provide an online gambling license to a British online gaming company. Because Italy is one of the newest countries within the industry, the refusal to allow access by a British company was not taken lightly by the court.
Join:
2006/12/07
Messages:
29893
Advocates of gambling in Georgia say strong support around the state for Sunday alcohol sales could mean Georgia is ready to support gambling, reports The Associated Press.
Tom Perdue, a veteran Georgia Republican strategist, said the Sunday sales vote has some lawmakers who have strongly opposed gambling taking a second look.
“It’s being discussed openly in political and legislative circles, more than I’ve ever heard,” said Perdue.
Gambling is always a tough sell in the Bible Belt, but the fact gambling is even being discussed is a sign to some that times are changing, AP reported.
The state House is considering proposals to allow horse racing. And there has been talk of allowing casinos at various places. A Georgia Lottery-commissioned report said casinos at key locations could bring in almost $1 billion annually.
Gov. Nathan Deal vetoed a bill this year that dealt with coin-operated gaming, but has said he would be open to another bill if it addressed his concerns about illegal gambling, AP reported.
Tom Perdue, a veteran Georgia Republican strategist, said the Sunday sales vote has some lawmakers who have strongly opposed gambling taking a second look.
“It’s being discussed openly in political and legislative circles, more than I’ve ever heard,” said Perdue.
Gambling is always a tough sell in the Bible Belt, but the fact gambling is even being discussed is a sign to some that times are changing, AP reported.
The state House is considering proposals to allow horse racing. And there has been talk of allowing casinos at various places. A Georgia Lottery-commissioned report said casinos at key locations could bring in almost $1 billion annually.
Gov. Nathan Deal vetoed a bill this year that dealt with coin-operated gaming, but has said he would be open to another bill if it addressed his concerns about illegal gambling, AP reported.
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2006/12/07
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Summary: Facebook is considering opening up the Facebook Platform to online gambling in the UK, according to a new rumor. This is to supposedly be an exchange of real money, not Facebook Credits.
Facebook already offers a virtual currency option known as Facebook Credits, which is used extensively in Facebook apps like social games, but the social networking giant is also reportedly interested in supporting the exchange of real money in the online gambling market. The company wants to open up the Facebook Platform to online gambling, possibly as soon as in Q1 2012. This past summer, Palo Alto held exploratory talks with approximately 20 online gaming experts, consultants, and social gaming entrepreneurs, and now it’s moving forward.
More specifically, Facebook is looking at handing out eight licenses, two per vertical, to the online gambling operators in regulated markets such as the UK, according to EGR. The company has drawn up initial licenses for different gambling operators: Gamesys, which has some 1.7 million monthly Facebook users and 888 are reportedly first in line. You read that right: gambling apps could soon start appearing on the Facebook Platform.
The talks appear to be limited to the UK since many states in the US ban online gambling. While Facebook will likely never support the US (unless the laws change), if the UK deal goes through, it will likely be run as a trial for other countries.
When exactly Facebook would allow gambling companies to launch such apps is unknown. It’s also unclear how Facebook will verify the age and identity of players (beyond believing they aren’t lying on their Facebook account), which payment solutions will be used to handle the money (again, Facebook Credits is apparently not playing a part), and what percentage Facebook will be taking from gambling operators.
Facebook takes a 30 percent cut of all revenue earned through Facebook Credits, leaving developers with the remaining 70 percent. Since it is still private, Facebook does not disclose how much revenue the company makes from the virtual currency, but it appears to be a growing percentage of its overall revenue. The social networking giant is currently testing Facebook Credits for websites.
Facebook used to be very strict when it came to advertising online gambling businesses on its platform. The company has since relaxed those rules – the Facebook Advertising Guidelines webpage has a specific online gambling clause under the Gambling and Lotteries subsection of the Ad Content section: “Ads that promote or facilitate online gambling, games of skill or lotteries, including online casino, sports books, bingo, or poker, are only allowed in specific countries with prior authorization from Facebook.”
Facebook already offers a virtual currency option known as Facebook Credits, which is used extensively in Facebook apps like social games, but the social networking giant is also reportedly interested in supporting the exchange of real money in the online gambling market. The company wants to open up the Facebook Platform to online gambling, possibly as soon as in Q1 2012. This past summer, Palo Alto held exploratory talks with approximately 20 online gaming experts, consultants, and social gaming entrepreneurs, and now it’s moving forward.
More specifically, Facebook is looking at handing out eight licenses, two per vertical, to the online gambling operators in regulated markets such as the UK, according to EGR. The company has drawn up initial licenses for different gambling operators: Gamesys, which has some 1.7 million monthly Facebook users and 888 are reportedly first in line. You read that right: gambling apps could soon start appearing on the Facebook Platform.
The talks appear to be limited to the UK since many states in the US ban online gambling. While Facebook will likely never support the US (unless the laws change), if the UK deal goes through, it will likely be run as a trial for other countries.
When exactly Facebook would allow gambling companies to launch such apps is unknown. It’s also unclear how Facebook will verify the age and identity of players (beyond believing they aren’t lying on their Facebook account), which payment solutions will be used to handle the money (again, Facebook Credits is apparently not playing a part), and what percentage Facebook will be taking from gambling operators.
Facebook takes a 30 percent cut of all revenue earned through Facebook Credits, leaving developers with the remaining 70 percent. Since it is still private, Facebook does not disclose how much revenue the company makes from the virtual currency, but it appears to be a growing percentage of its overall revenue. The social networking giant is currently testing Facebook Credits for websites.
Facebook used to be very strict when it came to advertising online gambling businesses on its platform. The company has since relaxed those rules – the Facebook Advertising Guidelines webpage has a specific online gambling clause under the Gambling and Lotteries subsection of the Ad Content section: “Ads that promote or facilitate online gambling, games of skill or lotteries, including online casino, sports books, bingo, or poker, are only allowed in specific countries with prior authorization from Facebook.”
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2006/12/07
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When surfing the internet for particular subjects a memorable domain name can bring business to the owner’s site in spades. When a domain name becomes available for a popular activity such as online gambling it is usually snapped up for a large sum of cash in short order.
Online poker is extremely popular all over the world, especially in America where it has been prohibited by the federal government but continues to be played on European facing web sites.
The domain name AmericanPoker.com, previously reserved for a new network of sites, was just released and is now available for purchase.
A company that takes stock of internet traffic and publishes the results ComScore, says that in March 2011 the most popular Internet poker sites had between 1.3 million and 2.6 million visitors. The money being made from the players and other suppliers of services related to the online poker industry is substantial and profitable. The AmericanPoker.com domain name will be a winner for a number of obvious reasons including the fact the American online poker market is arguably the biggest in the world.
Paul Wilson who is an expert in the field of internet poker, says, "AmericanPoker.com is a domain name you wouldn't want your competitor to own," Wilson continued, "For someone who sees online poker as a serious, legitimate business and not just a hobby, this is the perfect domain name."
Wilson points out why the name will be desirable to professional operators seeking a domain, commenting that the name creates instant brand recognition. He added It can encompass land-based and online poker, it is easy to spell and remember. It can be found easily by those typing keywords into a search engine, or by direct navigation by typing the domain name in the browser and the name itself implies credibility. This Domain won’t last long on the market that’s a sure thing.
Online poker is extremely popular all over the world, especially in America where it has been prohibited by the federal government but continues to be played on European facing web sites.
The domain name AmericanPoker.com, previously reserved for a new network of sites, was just released and is now available for purchase.
A company that takes stock of internet traffic and publishes the results ComScore, says that in March 2011 the most popular Internet poker sites had between 1.3 million and 2.6 million visitors. The money being made from the players and other suppliers of services related to the online poker industry is substantial and profitable. The AmericanPoker.com domain name will be a winner for a number of obvious reasons including the fact the American online poker market is arguably the biggest in the world.
Paul Wilson who is an expert in the field of internet poker, says, "AmericanPoker.com is a domain name you wouldn't want your competitor to own," Wilson continued, "For someone who sees online poker as a serious, legitimate business and not just a hobby, this is the perfect domain name."
Wilson points out why the name will be desirable to professional operators seeking a domain, commenting that the name creates instant brand recognition. He added It can encompass land-based and online poker, it is easy to spell and remember. It can be found easily by those typing keywords into a search engine, or by direct navigation by typing the domain name in the browser and the name itself implies credibility. This Domain won’t last long on the market that’s a sure thing.
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2006/12/07
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On Nov. 15, in the last formal legislative session of 2011, the Massachusetts House of Representatives passed "the casino bill," a piece of legislation that would allow the creation of three resort-style casinos and a slots parlor in Massachusetts, by a vote of 123-32. The Senate passed the bill later that same day, by a vote of 23-14, and Governor Deval Patrick signed the bill into law just a week later.
The bill allows for the creation of three casinos: one in the Worcester-Boston area, one in southeastern Massachusetts, and one in western Massachusetts. The slots parlor can be anywhere in the state. Within 120 days, the governor must appoint five members to a gambling commission, which will oversee the creation and development of the casinos.
Lobbyists played a powerful role, especially in western Mass., in passing this legislation, and will likely become even more vocal. Three different companies have made pitches to open casinos in three different western Mass. cities. Representatives of Ameristar Casinos, a Nevada-based company, will speak at an open meeting in Springfield on Dec. 6 to advocate for a casino in that city. The company bought 41 acres in Springfield, announcing the finalization of the deal the day after the bill was passed. Mohegan Sun of Connecticut, owned by the Mohegan Tribal Gaming Authority, has also proposed a plan for a casino in Palmer, and is holding a community meeting there on Dec. 8. Hard Rock International, a Florida-based company, and Paper City Development, a locally-based casino advocacy group, have formed an arrangement to advocate for the development of a casino off I-91 in Holyoke.
Mohegan Sun has owned and operated a pro-casino storefront in Palmer for two years, and spent nearly $10 million dollars advocating for the bill, according to The Boston Globe. Representatives Todd Smola, a Republican from Palmer, and Denise Andrews, a Democrat from Orange – which borders Palmer – both voted against the bill. Andrews claimed that her constituents were "50/50" about the proposed casino.
In Springfield, recently reelected Mayor Dominic Sarno favors a casino in the "City of Homes" – but wants a citywide referendum on any casino proposal. In 1995, Springfield voters rejected a measure that would have allowed for casino development.
The Holyoke proposal is perhaps the most contentious of the three western Mass. sites. The recent mayoral race between 67-year-old incumbent Elaine Pluta and 22-year-old challenger Alex Morse put the candidates on either side of the casino debate: Pluta for and Morse against. Morse was elected in a landslide, which may stall plans for a casino on what is now the Wyckoff Country Club. Paper City Development, which leads the lobbying for a Holyoke casino, is managed by Joseph Lashinger Jr., a former consultant with Penn National Gaming Inc. – a group which is also seeking a gaming license in Springfield.
The "Casinos in Massachusetts Act" was introduced last January, but attempts to legalize casino-style gambling in the Bay State go back much further. Since the 1992 opening of nearby Foxwoods Casino in Connecticut and the subsequent opening of Mohegan Sun Casino, the second largest casino in the United States, four years later, many groups have lobbied for the creation of casinos in Massachusetts, saying it will bring tourist revenue to the state. Patrick has advocated for casinos since taking office in 2008, and submitted a pro-casino bill to the legislature during his first term, which failed due to strong opposition from House Speaker Sal DiMasi.
The casino bill underwent dramatic changes before it passed the legislature. The Senate removed a "happy hour" provision that would allow casinos to serve free drinks on the floor. Representative Ellen Story, a Democrat from Amherst, pushed for Massachusetts higher education to receive a percentage of the revenue from the casinos; such a provision was not included in the original bill. As the bill stands, the three casinos are expected to generate $400 million in revenue for the state, with 25 percent going to local aid, 14 percent to elementary and secondary schools, 10 percent to economic development and 5 percent to the Massachusetts public higher education system, which includes UMass Amherst.
The bill allows for the creation of three casinos: one in the Worcester-Boston area, one in southeastern Massachusetts, and one in western Massachusetts. The slots parlor can be anywhere in the state. Within 120 days, the governor must appoint five members to a gambling commission, which will oversee the creation and development of the casinos.
Lobbyists played a powerful role, especially in western Mass., in passing this legislation, and will likely become even more vocal. Three different companies have made pitches to open casinos in three different western Mass. cities. Representatives of Ameristar Casinos, a Nevada-based company, will speak at an open meeting in Springfield on Dec. 6 to advocate for a casino in that city. The company bought 41 acres in Springfield, announcing the finalization of the deal the day after the bill was passed. Mohegan Sun of Connecticut, owned by the Mohegan Tribal Gaming Authority, has also proposed a plan for a casino in Palmer, and is holding a community meeting there on Dec. 8. Hard Rock International, a Florida-based company, and Paper City Development, a locally-based casino advocacy group, have formed an arrangement to advocate for the development of a casino off I-91 in Holyoke.
Mohegan Sun has owned and operated a pro-casino storefront in Palmer for two years, and spent nearly $10 million dollars advocating for the bill, according to The Boston Globe. Representatives Todd Smola, a Republican from Palmer, and Denise Andrews, a Democrat from Orange – which borders Palmer – both voted against the bill. Andrews claimed that her constituents were "50/50" about the proposed casino.
In Springfield, recently reelected Mayor Dominic Sarno favors a casino in the "City of Homes" – but wants a citywide referendum on any casino proposal. In 1995, Springfield voters rejected a measure that would have allowed for casino development.
The Holyoke proposal is perhaps the most contentious of the three western Mass. sites. The recent mayoral race between 67-year-old incumbent Elaine Pluta and 22-year-old challenger Alex Morse put the candidates on either side of the casino debate: Pluta for and Morse against. Morse was elected in a landslide, which may stall plans for a casino on what is now the Wyckoff Country Club. Paper City Development, which leads the lobbying for a Holyoke casino, is managed by Joseph Lashinger Jr., a former consultant with Penn National Gaming Inc. – a group which is also seeking a gaming license in Springfield.
The "Casinos in Massachusetts Act" was introduced last January, but attempts to legalize casino-style gambling in the Bay State go back much further. Since the 1992 opening of nearby Foxwoods Casino in Connecticut and the subsequent opening of Mohegan Sun Casino, the second largest casino in the United States, four years later, many groups have lobbied for the creation of casinos in Massachusetts, saying it will bring tourist revenue to the state. Patrick has advocated for casinos since taking office in 2008, and submitted a pro-casino bill to the legislature during his first term, which failed due to strong opposition from House Speaker Sal DiMasi.
The casino bill underwent dramatic changes before it passed the legislature. The Senate removed a "happy hour" provision that would allow casinos to serve free drinks on the floor. Representative Ellen Story, a Democrat from Amherst, pushed for Massachusetts higher education to receive a percentage of the revenue from the casinos; such a provision was not included in the original bill. As the bill stands, the three casinos are expected to generate $400 million in revenue for the state, with 25 percent going to local aid, 14 percent to elementary and secondary schools, 10 percent to economic development and 5 percent to the Massachusetts public higher education system, which includes UMass Amherst.
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2006/12/07
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New research shows that Victorians are increasingly concerned about the risks posed by gambling marketing strategies, including gambling advertising at sporting events.
In a new study of Victorian gamblers published in International Gambling Studies researchers from Monash University investigated how aware individuals were of gambling advertising; their attitudes towards gambling advertising; and what role they felt that different marketing strategies had on gambling behaviours.
Lead author and study Chief Investigator Dr Samantha Thomas from the Department of Marketing, said the results showed that the community had a heightened awareness and concern about the widespread advertising of gambling products, particularly during sporting matches.
“The number of gambling products available have diversified considerably in recent years, and so too have the ways in which the gambling industry has been able to use different marketing strategies to target and engage different sectors of the community,” Dr Thomas said.
“A majority of the participants involved in the research were very aware of the increased amount of gambling advertising, and were particularly concerned about the impact of advertising on children. Men in particular described being ‘bombarded’ and ‘targeted’ by sports bet advertising.”
Participants described how sports betting had become so embedded into sporting broadcasts that the boundaries between advertising and commentary had become blurred. Young men in particular felt that they were unable to escape or avoid the enticing nature of some of the advertisements, particularly those online.
“Many of the younger men involved in the study said the more gambling was promoted, the more it was becoming normal to engage in betting. Some individuals stated that they participated in sports betting because they didn’t want to feel the ‘odd one out’ in their peer circles,” Dr Thomas said.
“The study has certainly highlighted that younger men feel ‘pressured’ into sports betting by all the hype surrounding its promotion. However, women and older men strongly resisted the messages and marketing strategies that they were given about gambling. Older men in particular were upset that gambling advertising was ruining their enjoyment of sports.
“We also found that there was a general concern about the long term impact of the promotion of gambling in family friendly environments – including at sports venues, and during family viewing time slots. Participants were concerned that the amount of advertising that regularly confronted children – and particularly when associated with sporting identities and teams – would encourage children to think that gambling was a natural part of being a sports fan.”
Finally the study explored incentivisation schemes - such as free meals in pokie venues, and free online bets. While older men felt that the risks posed by incentive schemes outweighed the benefits to them as a consumer, older women, those from lower socio-economic groups, problem gamblers, and young men saw incentives as ‘no lose’ benefits which outweighed the risks of engaging in gambling.
This study was funded by the Victorian Department of Justice through its research grants program.
In a new study of Victorian gamblers published in International Gambling Studies researchers from Monash University investigated how aware individuals were of gambling advertising; their attitudes towards gambling advertising; and what role they felt that different marketing strategies had on gambling behaviours.
Lead author and study Chief Investigator Dr Samantha Thomas from the Department of Marketing, said the results showed that the community had a heightened awareness and concern about the widespread advertising of gambling products, particularly during sporting matches.
“The number of gambling products available have diversified considerably in recent years, and so too have the ways in which the gambling industry has been able to use different marketing strategies to target and engage different sectors of the community,” Dr Thomas said.
“A majority of the participants involved in the research were very aware of the increased amount of gambling advertising, and were particularly concerned about the impact of advertising on children. Men in particular described being ‘bombarded’ and ‘targeted’ by sports bet advertising.”
Participants described how sports betting had become so embedded into sporting broadcasts that the boundaries between advertising and commentary had become blurred. Young men in particular felt that they were unable to escape or avoid the enticing nature of some of the advertisements, particularly those online.
“Many of the younger men involved in the study said the more gambling was promoted, the more it was becoming normal to engage in betting. Some individuals stated that they participated in sports betting because they didn’t want to feel the ‘odd one out’ in their peer circles,” Dr Thomas said.
“The study has certainly highlighted that younger men feel ‘pressured’ into sports betting by all the hype surrounding its promotion. However, women and older men strongly resisted the messages and marketing strategies that they were given about gambling. Older men in particular were upset that gambling advertising was ruining their enjoyment of sports.
“We also found that there was a general concern about the long term impact of the promotion of gambling in family friendly environments – including at sports venues, and during family viewing time slots. Participants were concerned that the amount of advertising that regularly confronted children – and particularly when associated with sporting identities and teams – would encourage children to think that gambling was a natural part of being a sports fan.”
Finally the study explored incentivisation schemes - such as free meals in pokie venues, and free online bets. While older men felt that the risks posed by incentive schemes outweighed the benefits to them as a consumer, older women, those from lower socio-economic groups, problem gamblers, and young men saw incentives as ‘no lose’ benefits which outweighed the risks of engaging in gambling.
This study was funded by the Victorian Department of Justice through its research grants program.
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2006/12/07
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29893
Things are getting more and more critical in Kim Kardashian’s world of superficial scandal.
Enjoy reality TV? Get all your X Factor odds in the Bodog Sportsbook today.
Kim’s husband of 72 days, NBA player Kris Humphries, has filed for an annulment on the grounds that she defrauded him into marrying her. Kris is claiming that Kim married him just for the reality show cameras, which is why she divorced him so quickly after. However, he claims that even though he was seen out partying and hitting on women, he thought their love was real and was duped.
Even though the couple had an iron-clad prenup in place, Kris wants Kim to pay his attorney fees, which he says are community and quasi-community assets.
Although Kim’s camp has yet to respond to Kris’ accusations, Kim is telling whoever will listen that she legitimately loved her husband. There are also rumors that because theirs was a short-lived union, Kim had wanted to file for an annulment but was told that under California law, someone can only annul a marriage if there's proof of impotency, incest, bigamy, unsound mind, force or fraud. Now, the two are looking to face-off on court!
Enjoy reality TV? Get all your X Factor odds in the Bodog Sportsbook today.
Kim’s husband of 72 days, NBA player Kris Humphries, has filed for an annulment on the grounds that she defrauded him into marrying her. Kris is claiming that Kim married him just for the reality show cameras, which is why she divorced him so quickly after. However, he claims that even though he was seen out partying and hitting on women, he thought their love was real and was duped.
Even though the couple had an iron-clad prenup in place, Kris wants Kim to pay his attorney fees, which he says are community and quasi-community assets.
Although Kim’s camp has yet to respond to Kris’ accusations, Kim is telling whoever will listen that she legitimately loved her husband. There are also rumors that because theirs was a short-lived union, Kim had wanted to file for an annulment but was told that under California law, someone can only annul a marriage if there's proof of impotency, incest, bigamy, unsound mind, force or fraud. Now, the two are looking to face-off on court!
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2006/12/07
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State officials took the first steps yesterday toward creating an independent board with vast regulatory power over casino gambling, pledging that the selection process would be open and rigorous.
The stakes are high. The five-member gambling commission, established under the new law legalizing casinos in Massachusetts, will have broad authority over the industry, from awarding licenses to determining the payouts of slot machines.
“We have only one chance to get this right,’’ said Steven Grossman, the state’s treasurer, who is responsible for choosing one of the commission members.
The law gives Governor Deval Patrick, Attorney General Martha Coakley, and Grossman authority to make one appointment each and to agree on two additional appointments. They have four months to assemble the board.
The three officials announced yesterday that they will retain an outside firm to conduct a search for candidates.
“An independent search firm will help us select highly qualified candidates, ready for this challenge,’’ Patrick said in a statement.
The search will focus on candidates with professional experience in gambling regulation, as specified in the casino law, and will place a “high emphasis’’ on ethics.
“No candidate will be chosen who has any conflicts of interest that could impact their ability to make the best and most independent decisions on behalf of the Commonwealth,’’ Patrick’s statement said.
The search firm will recommend finalists to state officials for their consideration.
Aware of the potential for corruption, lawmakers gave the commission great independence and authority in an effort to insulate it from the political process. But critics have voiced concern that the law gives the commission too much power.
Citizens for a Stronger Massachusetts, a group that opposes the casino bill, said it was encouraged by the government’s initial steps to naming overseers.
“The naming of these commissioners is perhaps the single most important decision these three elected officials will make,’’ said David Guarino, a spokesman for the group. “We are hopeful these positive steps indicate the powerful members of the gambling commission will be chosen on their merits and with a premium placed on independence, not insider connections.’’
Patrick will select the chairman, who will be paid $150,000 a year. Patrick and his senior staff have begun reviewing candidates and expect to make a choice as early as this month.
Other members will be paid $112,500.
Coakley, whose appointee must have experience in law enforcement and criminal investigations, said her office plans to enlist outside help to recommend applicants.
“Hiring qualified individuals with independence, experience, and integrity will be critical to the success of the new gaming commission,’’ she said. “This process will ensure that we actively seek out and thoroughly vet the best possible candidates to regulate the new gaming industry in the Commonwealth.’’
Grossman announced a five-member advisory panel to identify a short list of finalists for his appointee, who must have experience in corporate finance. The panel includes Jonathan Chiel, general counsel for John Hancock Financial Services, and Cathy Judd-Stein, director of policy for the state Lottery Commission.
Once the panel narrows the field, Grossman will interview applicants and make the final decision.
After the commission is established, it will probably face a host of competing bids for casino licenses. The bill allows for three casinos across the state: one in the Boston area; one for Western Massachusetts; and a third in Southeastern Massachusetts.
Casinos must win local approval.
The stakes are high. The five-member gambling commission, established under the new law legalizing casinos in Massachusetts, will have broad authority over the industry, from awarding licenses to determining the payouts of slot machines.
“We have only one chance to get this right,’’ said Steven Grossman, the state’s treasurer, who is responsible for choosing one of the commission members.
The law gives Governor Deval Patrick, Attorney General Martha Coakley, and Grossman authority to make one appointment each and to agree on two additional appointments. They have four months to assemble the board.
The three officials announced yesterday that they will retain an outside firm to conduct a search for candidates.
“An independent search firm will help us select highly qualified candidates, ready for this challenge,’’ Patrick said in a statement.
The search will focus on candidates with professional experience in gambling regulation, as specified in the casino law, and will place a “high emphasis’’ on ethics.
“No candidate will be chosen who has any conflicts of interest that could impact their ability to make the best and most independent decisions on behalf of the Commonwealth,’’ Patrick’s statement said.
The search firm will recommend finalists to state officials for their consideration.
Aware of the potential for corruption, lawmakers gave the commission great independence and authority in an effort to insulate it from the political process. But critics have voiced concern that the law gives the commission too much power.
Citizens for a Stronger Massachusetts, a group that opposes the casino bill, said it was encouraged by the government’s initial steps to naming overseers.
“The naming of these commissioners is perhaps the single most important decision these three elected officials will make,’’ said David Guarino, a spokesman for the group. “We are hopeful these positive steps indicate the powerful members of the gambling commission will be chosen on their merits and with a premium placed on independence, not insider connections.’’
Patrick will select the chairman, who will be paid $150,000 a year. Patrick and his senior staff have begun reviewing candidates and expect to make a choice as early as this month.
Other members will be paid $112,500.
Coakley, whose appointee must have experience in law enforcement and criminal investigations, said her office plans to enlist outside help to recommend applicants.
“Hiring qualified individuals with independence, experience, and integrity will be critical to the success of the new gaming commission,’’ she said. “This process will ensure that we actively seek out and thoroughly vet the best possible candidates to regulate the new gaming industry in the Commonwealth.’’
Grossman announced a five-member advisory panel to identify a short list of finalists for his appointee, who must have experience in corporate finance. The panel includes Jonathan Chiel, general counsel for John Hancock Financial Services, and Cathy Judd-Stein, director of policy for the state Lottery Commission.
Once the panel narrows the field, Grossman will interview applicants and make the final decision.
After the commission is established, it will probably face a host of competing bids for casino licenses. The bill allows for three casinos across the state: one in the Boston area; one for Western Massachusetts; and a third in Southeastern Massachusetts.
Casinos must win local approval.
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2006/12/07
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29893
State Rep. Lou Lang has talked repeatedly of trying to get gambling expanded in Illinois for 20 years. If the veteran Skokie lawmaker wants to achieve that goal, he still has a lot of work ahead of him.
With Governor Pat Quinn as an adversary, Lang was thwarted in his recent attempt to get a new gambling bill passed in the veto session in the state capital. A scaled back version of a gaming legislation passed earlier this year (both bills were sponsored by Lang), but received only 58 votes of the 60 needed to get through the House last week. The bill was never called for a vote in the Senate leaving its future unclear.
The failure of this particular legislation marks another twist in a drama that has been ongoing since May when the General Assembly narrowly passed a bill that Lang believed would have brought in thousands of jobs to Illinois and as much as $1 billion in new revenue. However, gambling opponents were concerned about the amounts of new gaming opportunities as well as a lack of regulatory control.
Since the original gaming bill was passed in May, its foundation of support has slowly slipped away with Quinn labeling it “top heavy.” Interpreting that assessment as a veto threat, the legislation was never sent formally to the governor. In October, Quinn presented a counterproposal while formally promising a veto of the Lang bill. Among the major philosophical disagreements of the two that came up then and has yet to be resolved was the placement of slot machines at racetracks. Lang said that was a critical need to prop up the horse racing industry, but Quinn remains opposed.
Last week Lang sponsored a bill that included tighter regulatory mechanisms, fewer casinos and the elimination of slot machines at O’Hare Airport, but kept in the slot machines at race tracks. Quinn lobbied enough legislators to see his way to halt the legislation in its tracks.
“It's clear that this proposal needs more work, dialogue and analysis. We look forward to working with the General Assembly on this issue in the future,” Quinn said in a statement.
One particular member who was opposed to the bill in May and again said no this time around was State Rep. Dan Biss, who later this week announced his candidacy to replace Jeff Schoenberg in the State Senate.
“I still felt it was a massive expansion of gaming and it more than I could support,” Biss said. “There isn’t one specific thing but between everything, it was just more than I could support.”
What happens now is up for debate. Lang isn’t talking. Repeated efforts to contact him have been unsuccessful.
The General Assembly is scheduled to reconvene later this month where another gambling proposal may be floated. It would be premature to say the idea is dead. Chicago Mayor Rahm Emanuel wants a casino in Chicago and has been working with Lang to get something done. Next, with Illinois deeply immersed in red ink, Quinn may want to accept some gambling as a way to inject some cash. Lang also has an ally in Illinois Senate President John Cullerton.
But as of now there is almost certainty about this entire melodrama: Lang’s efforts of two decades to get more gaming in Illinois will take more time.
With Governor Pat Quinn as an adversary, Lang was thwarted in his recent attempt to get a new gambling bill passed in the veto session in the state capital. A scaled back version of a gaming legislation passed earlier this year (both bills were sponsored by Lang), but received only 58 votes of the 60 needed to get through the House last week. The bill was never called for a vote in the Senate leaving its future unclear.
The failure of this particular legislation marks another twist in a drama that has been ongoing since May when the General Assembly narrowly passed a bill that Lang believed would have brought in thousands of jobs to Illinois and as much as $1 billion in new revenue. However, gambling opponents were concerned about the amounts of new gaming opportunities as well as a lack of regulatory control.
Since the original gaming bill was passed in May, its foundation of support has slowly slipped away with Quinn labeling it “top heavy.” Interpreting that assessment as a veto threat, the legislation was never sent formally to the governor. In October, Quinn presented a counterproposal while formally promising a veto of the Lang bill. Among the major philosophical disagreements of the two that came up then and has yet to be resolved was the placement of slot machines at racetracks. Lang said that was a critical need to prop up the horse racing industry, but Quinn remains opposed.
Last week Lang sponsored a bill that included tighter regulatory mechanisms, fewer casinos and the elimination of slot machines at O’Hare Airport, but kept in the slot machines at race tracks. Quinn lobbied enough legislators to see his way to halt the legislation in its tracks.
“It's clear that this proposal needs more work, dialogue and analysis. We look forward to working with the General Assembly on this issue in the future,” Quinn said in a statement.
One particular member who was opposed to the bill in May and again said no this time around was State Rep. Dan Biss, who later this week announced his candidacy to replace Jeff Schoenberg in the State Senate.
“I still felt it was a massive expansion of gaming and it more than I could support,” Biss said. “There isn’t one specific thing but between everything, it was just more than I could support.”
What happens now is up for debate. Lang isn’t talking. Repeated efforts to contact him have been unsuccessful.
The General Assembly is scheduled to reconvene later this month where another gambling proposal may be floated. It would be premature to say the idea is dead. Chicago Mayor Rahm Emanuel wants a casino in Chicago and has been working with Lang to get something done. Next, with Illinois deeply immersed in red ink, Quinn may want to accept some gambling as a way to inject some cash. Lang also has an ally in Illinois Senate President John Cullerton.
But as of now there is almost certainty about this entire melodrama: Lang’s efforts of two decades to get more gaming in Illinois will take more time.
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2006/12/07
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29893
British online gambling company Betfair urged EU regulators on Thursday to stop Germany from implementing a new gambling law, saying it did not comply with EU rules and that it favored state monopolies.
The German sports betting market, estimated to be worth at least 5 billion euros ($6.7 billion), is monopolized by the country's 16 states.
"Under these current proposals Germany's new state treaty will be out of line and out of touch with fundamental EU law," Betfair's chief legal and regulatory affairs officer Martin Cruddace said in a statement.
Betfair, the world's biggest betting exchange, said the updated draft favored the incumbent state monopoly because of various provisions. It first complained to the European Commission over the issue in July.
Betting companies from other EU countries previously complained that the new rules would severely hamper their activities or shut them out of the market.
Several online gambling companies have taken a number of EU countries to court in a bid to break into a lucrative market with sales of 80 billion euros last year.
($1 = 0.7429 euros)
The German sports betting market, estimated to be worth at least 5 billion euros ($6.7 billion), is monopolized by the country's 16 states.
"Under these current proposals Germany's new state treaty will be out of line and out of touch with fundamental EU law," Betfair's chief legal and regulatory affairs officer Martin Cruddace said in a statement.
Betfair, the world's biggest betting exchange, said the updated draft favored the incumbent state monopoly because of various provisions. It first complained to the European Commission over the issue in July.
Betting companies from other EU countries previously complained that the new rules would severely hamper their activities or shut them out of the market.
Several online gambling companies have taken a number of EU countries to court in a bid to break into a lucrative market with sales of 80 billion euros last year.
($1 = 0.7429 euros)
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2006/12/07
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29893
A federal judge said he’s unlikely to dismiss an illegal gambling case involving the three largest Internet poker companies doing business in the U.S.
“I think it extraordinarily unlikely the entire indictment will be dismissed,” U.S. District Judge Lewis Kaplan in Manhattan said at the end of a hearing today on a request to dismiss the case. He said he would rule later on the motion and that a trial, if held, would begin March 12.
Eleven defendants were accused in April of bank fraud, money laundering and illegal gambling through the online companies PokerStars, Full Tilt Poker and Absolute Poker.
Lawyers for two of the defendants, Chad Elie and John Campos, argued in court today that the U.S. law making it a crime for businesses to accept payment in connection with unlawful Internet gambling doesn’t apply to poker.
The case is U.S. v. Scheinberg, 10-cr-00336, U.S. District Court, Southern District of New York (Manhattan).
“I think it extraordinarily unlikely the entire indictment will be dismissed,” U.S. District Judge Lewis Kaplan in Manhattan said at the end of a hearing today on a request to dismiss the case. He said he would rule later on the motion and that a trial, if held, would begin March 12.
Eleven defendants were accused in April of bank fraud, money laundering and illegal gambling through the online companies PokerStars, Full Tilt Poker and Absolute Poker.
Lawyers for two of the defendants, Chad Elie and John Campos, argued in court today that the U.S. law making it a crime for businesses to accept payment in connection with unlawful Internet gambling doesn’t apply to poker.
The case is U.S. v. Scheinberg, 10-cr-00336, U.S. District Court, Southern District of New York (Manhattan).
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2006/12/07
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29893
The Remote Gambling Association (RGA) and European Gaming and Betting Association (EGBA) have filed a complaint with the European Commission, (EC) with regard to recent Greek online gambling law. These complaints cite a number of non-EU compliant issues, in particular with regards to new market entries. These organizations have requested that the Commission address the matter urgently.
The European Commission is the guardian of EU Free trade and other Treaties – most of which concern trade between member countries. The new Greek regulations plan to open the market, but are blatantly protectionist. It is amazing how many European Countries jealously guard their online gambling boundaries!
The EC has already criticized the new regulation, but have not gone much further than critique. When Greece entered their first submission (draft) in June, they received comments from EC commissioners which told them the adopted law contained unjustified restrictions making it anti-competitive. Greece was told this would place unfair burdens on new operators, as licensees would be forced to maintain permanent, physical establishments within Greece as well as only be able to make use of Greek banking establishments. There is also a higher age limit, which is not always a completely bad thing. The problem lies with the fact that there is no justifiable evidence to support the imposed restrictions.
There is also a crazy new tax regime which concerns both the RGA and the EGBA, and there is the fact that the OPAP has already been granted licensing rights for 10 years, starting in 2020. The OAP is the incumbent Greek land gambling monopoly. So, this grants them the right to continue to monopolise the online gambling industry too, for at least the next 18 years. Besides the fact that all these issues are completely non-transparent, the OPAP pays no tax, whereas new online gambling licensees will be required to pay 30%…and the list just goes on and on.
The European Commission is the guardian of EU Free trade and other Treaties – most of which concern trade between member countries. The new Greek regulations plan to open the market, but are blatantly protectionist. It is amazing how many European Countries jealously guard their online gambling boundaries!
The EC has already criticized the new regulation, but have not gone much further than critique. When Greece entered their first submission (draft) in June, they received comments from EC commissioners which told them the adopted law contained unjustified restrictions making it anti-competitive. Greece was told this would place unfair burdens on new operators, as licensees would be forced to maintain permanent, physical establishments within Greece as well as only be able to make use of Greek banking establishments. There is also a higher age limit, which is not always a completely bad thing. The problem lies with the fact that there is no justifiable evidence to support the imposed restrictions.
There is also a crazy new tax regime which concerns both the RGA and the EGBA, and there is the fact that the OPAP has already been granted licensing rights for 10 years, starting in 2020. The OAP is the incumbent Greek land gambling monopoly. So, this grants them the right to continue to monopolise the online gambling industry too, for at least the next 18 years. Besides the fact that all these issues are completely non-transparent, the OPAP pays no tax, whereas new online gambling licensees will be required to pay 30%…and the list just goes on and on.
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2006/12/07
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Ruderman was convicted of operating a massive Ponzi scheme, illegally using funds from investors to cover his gambling debts.
Maguire was one of several celebrities — including Gabe Kaplan of “Welcome Back Kotter” fame and Nick Cassavetes — who won hundreds of thousands from Ruderman at secret, posh poker games held in top Beverly Hills hotels and private homes. The bankruptcy trustee in Ruderman’s case had sued Maguire, Kaplan, Cassavetes and others, but it should be noted there are no criminal charges being considered here.
“This is all about the bankruptcy trustee attempting to collect some of those lost funds, but I’m worried that Tobey still hasn’t learned his lesson,” said a Maguire associate knowledgeable about the case. “He still is too obsessed with the thrill of high-stakes poker. … He certainly can afford to play with the ‘big boys,’ but I know many of this friends are worried that he is truly addicted.”
FASHION FLUBS? In a survey of the large number of comments — online and on Twitter — about the gowns worn by the Willis women in Paris over the weekend, it appears the general consensus is one collective Bronx cheer. Rumer Willis’ plunging neckline snared most of the boos, but sisters Tallulah Belle and Scout weren’t far behind.
They all were at La Bal de Debutantes at the famed Hotel Crillon, with Tallulah bowing at the same debutante cotillion where Scout had been presented to the European social scene three years ago.
Proud dad Bruce Willis was there to lend support, but the girls’ mother, Demi Moore, was not on hand — likely due to her wish to avoid media attention following her recent announcement she’s divorcing Ashton Kutcher.
STAR TRACKING: Considering the many tales Lindsay Lohan has heard from her attention-obsessed father, Michael, it’s not surprising LiLo made multiple calls to confirm her dad truly was seriously ill with lung and heart problems.
† Congrats to Anne Hathaway on the engagement to actor and jewelry designer Adam Shulman, her main man these past three years. The couple began dating shortly after the actress’ messy split with Raffaello Follieri, convicted of defrauding millions from investors he conned by claiming he was a real estate consultant to the Vatican.
TV TALK: Chaz Bono’s recent comments on the Howard Stern show may be an example of “be careful what you wish for.” The transgendered author and contestant on the just-completed season of “Dancing With the Stars” told Stern he thought his fellow “DWTS” pals — winner J.R. Martinez, David Arquette and Carson Kressley — would make up a great panel for a male version of “The View.”
People clearly were listening. The New York Post reports Bono already is getting offers to do a pilot!
TAKE A BOW: Chicago attorney and matrimonial law expert Jeffrey Leving — in the news lately for representing Mariah Yeater, who had claimed Justin Bieber fathered her baby son — has been appointed to the Judicial Evaluation Committee of the Chicago Bar Association.
† Master puppeteer Blair Thomas was surprised by Paramount Pictures at a special screening of Martin Scorsese’s “Hugo” — presenting him with “Chicago’s Very Own Georges Melies Award.”
The honor, named for the filmmaker who pioneered the use of special effects (portrayed in “Hugo” by Ben Kingsley), recognized Thomas’ upcoming project: directing the world premiere of “The Houdini Box” for Chicago Children’s Theatre, beginning previews Jan. 24.
HOLIDAY TUNES: Folks hanging out Wednesday in Wrigleyville may see 100 happy people caroling down the streets. They actually will be the audience of “Joy,” a Christmas show running every Wednesday at iO Theatre through the holiday season.
SEEN ON THE SCENE: “24” star and Chicago native Marisol Nichols got her holiday shopping started at Sofia on Oak Street.