Posts Tagged ‘online gambling’

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Iowa Assuming to be the first state legalize online gambling

Thursday, March 11th, 2010

Online poker is assumed to finally find its legal status in US. And the first among the US states to legalize online poker is supposedly the state of Iowa. The representative of Iowa Doug Struyk is now approaching the state to work towards the endeavor as the time is right.

According to Struyk online gambling is an “account deposit wagering”, and he supports online casino. He shares some of the most interesting facts on online gambling stating that around 50,000 Iowans take part in online casino activity and online poker on regular basis. He feels, with online gambling legalized in the state local casino website owners can offer reliable online casino games to the people of the state. This is so since several out of the state online casinos often provide gambling facilities that bluff players and take over the win money. Players often lose thousands of dollars.

The proposal sent by him will help Iowan citizens open online accounts at the state casinos. Even though he supports the bill entirely, he feels it has below average chances to get passed. The only chance of the proposal to make an impression at the legislature is when the public is properly educated about it. However, the House Majority Leader feels the concept of legalizing online gambling in Iowa is new and people are not ready to accept yet.

Democrat from Des Moines, Iowa, Kevin McCarthy states that legalizing online gambling in Iowa will come up as the major expansion in the field of online gambling in US. Iowa will then be the first state in US with legal online gambling.

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Online Gambling – Risk or Gain for Tribal Casinos?

Wednesday, March 10th, 2010

There is a possibility of internet poker to be legalized in the US. And it’s becoming a serious issue to some of the tribal leaders. They doubt that it will have an impact on the revenue from tribal government casinos.

After the Morongo Band of Mission Indians has proposed an intrastate Internet poker site in joint venture with Los Angeles area card clubs, the debate is hovering in the air of California. California tribes create an amount of $7.3 billion casino revenue in a year.

As Rep. Barney Frank, D-Mass., is supporting federal legislation authorizing, controlling and taxing Internet poker; Morongo’s proposal has gained motion. Frank’s bill is one of three legislations in Congress that would authorize online gambling while the other two include the Bipartisan Tax Fairness and Simplification Act sponsored by Sens. Ron Wyden, D-Ore., and Judd Gregg, R-N.H.

Robert Smith, the Chairman of the Pala Band of Mission Indians and one of the Directors of the California Tribal Business Alliance, has also supported the fact that online card game betting would take business away from real casinos. To him the Morongo proposal is “a Trojan horse for the wholesale expansion of non-Indian, off-reservation gambling”.

The Tribal Alliance of Sovereign Indian Nations, comprising 14 most successful gaming tribes of southern California, is against the federal legislation. Tribal Chief Miko Beasley Denson of the Mississippi Band of Choctaw Indians and the United South and Eastern Tribes has also requested Congress to revise the issue.

The ongoing federal law does not ban intrastate online gambling. But it is more profitable to create interstate, online player-banked poker sites in states like California. States which have less number of people are not able to generate a considerable amount of betting pool. It is not possible to support intrastate Internet gaming system for states like Connecticut and Mississippi.

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Online Gambling Gaining Despite of UIGEA

Monday, March 8th, 2010

US Congress had introduced Unlawful Internet Gambling Enforcement Act (UIGEA) in the year 2006. It declared any kind of transaction related to online gambling as illegal. UIGEA never regarded online casino gambling as illegal. However, the underlying assumption is very clear. After this Act was introduced in the US Congress, many online casinos operating from US stopped operation. Moreover, most online casinos stopped accepting US players. Many thought that online casino gambling market has come to the verge of end. But reality is showing something different.

Industry analysts say that this draconian law is meant to support land based casinos over online casinos. Federal government is tilting the round in favor of land based gambling.

What does the new survey reveal?

According to a new survey, it has been found out that the total number of people visiting land based casinos is declining at a continuous rate. However, the total number of players in the online casinos are increasing at a very fast pace. This increasing figure of players in online casinos has come up inspite of the fact that Federal government is consistently trying to block online casinos from the reach of US players through UIGEA (in a covert manner).

The report published by Mintel International Group has said that the total percentage of US players visiting land based casinos decreased from 35% to 30% during 2001 to 2009.

Despite of UIGEA, it has been found out by Mintel International Group that 12% of total number of US adult players have played online gambling in several online casinos.

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Online gambling regulated in Florida

Thursday, March 4th, 2010

According to rumor mills US is finally taking gradual steps in uplifting the ban on online gambling or rather regulating online gambling. Among the many states Florida is probably thought to be one of the first states to regulate gambling online. Representative Joseph Abruzzo has registered the Internet Poker Consumer Protection and Revenue Generation Act of 2010 on Friday.

The legislation defined about online gambling and the fully regulated system related to it. In case the petition is approved by the Florida state lawmakers Florida will probably turn out to be the first state to utilize rules from Unlawful Internet Gambling Enforcement Act of 2006. In 2006 UIGEA was enforced to get rid of online gambling in the country, however, in the ensuing years the industry showed a major expansion. However, UIGEA allows intrastate Internet gambling when related to gambling. The legislation filed by Abruzzo took advantage of this clause.

The Bill if approved will allow online gambling hubs to operate online poker sites however by following the strict guidelines. Again the operators must buy a business license in Florida, and also obtain license from one or more states in US. The license must include the permission to offer poker games online outside the state of US.

The minimum age for gambling would be 21 and special safety will be taken to secure players from money laundering. The software used by online poker must be insured and safe. Further licensing of online gambling operators will assure safety against any possible fraud. Once the bill is passed special rules will be issued to set an upper limit to the amount of deposits a player can keep in one day. This will help to reduce gambling addiction.

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CryptoLogic’s Financial Report for 2009

Tuesday, March 2nd, 2010

CryptoLogic, the most well-known global developer of online gambling games and software, has declared its financial report for the year 2009.

Highlights of 2009 financial report

  • The revenue, which was $61.5 million in 2008, is reduced to $39.8 million. The probable causes are lower betting activity, unfavorable currency factors and a diminished payment from a major licensee
  • Net loss of $35.5 million in comparison to $32.7 million of 2008
  • Total annual recurring cost (Consisting of operating, general, administrative, finance and pay back expenditure) is decreased by $20.6 million to $55.0 million
  • Unification of poker network with that of GTECH Corporation in order to reduce cost
  • Revenue for branded games which was $0.3 million in 2008, is raised to $2.8 million
  • Entire licensee base has been increased by 20 along with more than 30 top online gambling operators
  • Contract with DC Comics to develop games on Batman, Superman and Wonder Woman and with Paramount Digital Entertainment for movie-based games
  • Reduced rate of loss per share of $2.78 (which was $2.55 in 2008)
  • Total dividend declared for the year is $1.4 million ($5.4 in 2008)

In addition to them, 4th quarter of 2009 saw

  • Branded games revenue increased to $1.2 million
  • Number of branded games is doubled (66 from 33 of 3rd quarter)
  • Deal with virtual casino lobby to improve revenue
  • Relocation of Cyprus office to Malta in order to make more efficient operation
  • Contract with BetClic, Rank Interactive and UniBet
  • Launched games on Batman, Wonder Woman, Monkeys to Mars, Triple Action Hold’em and Aces and Faces

According to the words of Brian Hadfield, the President and CEO of the organization, 2009 was a tough year for CryptoLogic. They have come into 2010 and in this present year, their focus will be on

  • Reducing expenditure
  • Giving impetus to branded games
  • Increasing revenue
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Marvel Superhero Action Figures Becoming Popular In Online Casino

Sunday, February 28th, 2010

The concept of superhero has come into the world of online casino.  Now you can spot the Marvel Superhero action figures not only in the comic books or video games, they are available in the online casino games as well. They are mainly used in the slots machines to make it even more thrilling.

Previously we were accustomed to see the Marvel Superhero action figures in the famous comic books like Hulk and Iron Man. But in recent times, they have been introduced in cinemas and computer games.

At the moment, online casinos are looking for unique ways to draw players and by this, they have hit the jackpot. Online slots, by using top superhero figures, have moved to the next level. Some of the well-known casinos have put in new Marvel Comics superheroes to their range of casino slots and some of them include Blade, Daredevil, Elektra, Fantastic Four, and X-Men.

Superhero action figures have always been a popular choice for casino players. It gives them an opportunity to revive the charm of their childhood Marvel comics. The appearances of Marvel Superhero action characters have turned out to be a real achievement. As gaming software started combining the Marvel superheroes with their online casino games, they have come towards adult audience.

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Online Gambling Gets a Boost After Yahoo and Bing Agreement

Thursday, February 25th, 2010
online casino news

online casino news

Online gambling industry received a shot in the arm after the two search engine behemoths, Yahoo and Bing, had an agreement. The Federal government of United States of America and the European Union has taken a landmark decision of allowing YAHOO & BING to combine their SEs (Search Engines).

So, what’s the big deal?

Google’s market share of the US search engine market is around 65%. On the other hand, Yahoo’s search engine market share is 17% and that of Bing’s is 11.3%. The great combining of the SE giants, namely Yahoo and Microsoft’s Bing, will catapult their joint market share to 30%. According to the consolidation move, the search results of the search engine – Yahoo will be powered by Microsoft’s Bing. This consolidation will surely help Bing to compete the largest player of the search engine market, Google.

But what’s the advantage of Online Gambling industry with this search engine consolidation of Yahoo and Bing?

Some Forewords: One of the main reasons of the enormous growth of online gambling industry in the last one decade has been online advertising. But in the recent past it has been witnessed that online gambling is being shunned by the advertising websites as well as the PPC medium. The only medium that is still left for the online gambling industry to promote itself is the organic search results of various search engines. All search engines are still allowing the online gambling industry to be projected in the general (or organic) search result and don’t interfere with viewers’ choice of accessing online gambling and casino websites.

Online Gambling Industry & Consolidation of Yahoo and Bing:

From now on, the search results of Yahoo will be powered by Microsoft’s search engine – Bing. This consolidation of SEs will help the gambling aficionados to get more relevant and targeted search results, which will ultimately benefit the online gambling industry as a whole through increased business.

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Winter Olympics – Hot Favorite for Bettors

Wednesday, February 24th, 2010

Winter Olympics has given a fresh impetus to already swelling online casino betting industry. Online betting industry has surpassed the mark of twenty billion dollar per annum. The ongoing Winter Olympics, going on in Vancouver has thrilled the online betting aficionados to bet and earn handsomely. Analysts have also pointed out that the winter Olympics is hardly as popular as the summer one. But still the craze of online betting on different sports of this Winter Olympics is notable.

Figures of William Hills show that forty million US dollars had been gambled during the last summer Olympics, took place in Beijing of China in the year 2008. In comparison, the expected amount of online betting related to Winter Olympics of Vancouver 2010 is only eight million US dollars. Thus, if we compare the betting amount of both the Olympics then the Winter Olympic betting has been able to extract only one fifth of the amount as that of the last Summer Olympics. But analysts say that the recent amount of sports betting on Winter Olympics is also unprecedented.

It has been witnessed that ice hockey and skiing has attracted the interest of most number of online sports bettors. The most probable reason of such popularity of these games lies in their unpredictable nature. Some of the odds on some of the renowned and hot favorite skaters are:

1)     4-1 for Ivica Kostelic of Croatia

2)     5-1 for Benjamin Raich of Austria

3)     5-1 for Bode Miller of the United States

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Bypassing Online Gambling Laws – Iowa Lawmakers Making Way

Monday, February 22nd, 2010
online gambling

online gambling

The lawmakers of the state of Iowa, United States of America, are discussing among themselves about legalizing sports gambling. Not only this, they are are discussing about making online gamblng legal. In fact, many other states are also contemplating the idea of legalizing online casino gambling. But these states are not able to legalize online gambling due to a restrictive Act of 2006, called Unlawful Internet Gambling Enforcement Act or more generally UIGEA.

According to UIGEA, online gambling in internet casinos is not illegal but transaction of money related to online gambling are. Freedom loving people of America has not taken this Act with ease. Rather they consider this as a restrictive Act which hinders their freedom of choice. One of the well known Democrat Representative of the US Congress, Barney Frank, has raised his voice agaist it and is on the mission of repealing it. In fact, a six month breather has also been given on implementation of the Act as a Law.

Facts show that there are 17 casinos in the state of Iowa which makes them a gambling state. Now, if online gambling is not allowed then it defies justification because land-based casinos are already functional in the state. In the same land two types of laws are not at all good. On one hand, land based casinos are in full bloom but on the other hand online gambling is restricted through UIGEA.

That’s why the lawmakers of Iowa are trying to find out a way to bypass UIGEA and allow gambling online. Lawmakers are trying to find a way where the transactions of online gambling through financial institutions can be bypassed.

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Microgaming Announces Thunderstruck2

Wednesday, February 17th, 2010

Microgaming announces a sequel to Thunderstruck

Microgaming is truly on a roll or is it the rising online gambling competition for such consistent release from the casino software giant. After introducing the Lord of the Rings brand of slot games a few days before, Microgaming is now launching the sequel to Thunderstruck2. The sequel to Thunderstruck, this slot game is already a brand in its own way. Thunderstruck on the other hand was launched way back in 2003 and soon turned out to be a popular online slots game. The sequel arrives around seven years later.

As per several opinions it’s tough to match the beauty of Thunderstruck, and surely the development team at Microgaming has give in their best to present Thunderstruck2 after the super success of the prequel. The efforts and the assurances was reflected in a recently published press release by Microgaming which stated that the new sequel will bring in lovely hand painted graphics, innovative game play, impressive score and numerous other appealing features. Besides, special attention is offered to retain the ‘flavor’ of Thunderstruck.

The press release had other revelations such as the upgraded maximum screen resolution that will definitely enhance the user experience. The entire team at Microgaming is highly exciting and awaiting the release just like all of us. Besides, the team hopes the sequel leaves behind the success of Thunderstruck. So, all you folks enjoy the new slots game as it enters the world of online casino. For online casino lovers the sequel is a treat to their love for such fabulous online gambling games.

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