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Written by Thomas Jensen
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Wednesday, 06 June 2007
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 Democratic congressman Robert Wexler from the 19th District of Florida will be introducing legislation on Thursday that will exempting online poker, skilled games and mahjong from the Unlawful Internet Gambling Enforcement Act. Robert Wexler is a member of the House Financial Services panel.
"It allows Americans to play poker online as they should have every right to do," stated Wexler's spokesman Josh Rogin. "You win or lose based on your ability. It's a deserving distinct."
The news is positive to the internet gambling industry because it proves that members of congress are listening to the general public's desire to gambling online. However, Point-Spreads.com does not believe there should be an exemption for poker at the expense of other types of gambling such has blackjack or sports betting.
Several of large publicly traded AIM listed internet gambling companies such as Party Gaming, 888 Holdings & SportingBet left the US market after UIGEA was signed into law back in October of 2006.
Rob Wexler plans to submit his bill one day before Barney Frank, Chairmen of the House Financial Services Committee, holds a hearing to discuss internet gambling regulations.
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Last Updated ( Wednesday, 06 June 2007 )
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Written by Thomas Jensen
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Tuesday, 05 June 2007
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 A temporary restraining order was requested by The Interactive Media Entertainment & Gaming Association (iMEGA) to halt the enforcement of the Unlawful Internet Gambling Enforcement Act. The news of the lawsuit, which was filed today in the U.S. District Court, was broke on Gambling911.com late this afternoon.
UIGEA bans financial institutions from knowingly processing financial transactions for internet gambling, was signed into law in October 2006 by President George W. Bush.
"The suit filed today in U.S. District Court outlined how the Unlawful Internet Gambling Enforcement Act infringes upon basic constitutional rights and sets a dangerous precedent for I-commerce by criminalizing the transmission of money if the end result is illegal in some unspecified place. The injunction, if granted, will prevent the government from enforcing the UIGEA and pave the way for Internet gambling to resume pending further order of the court."
Several large publicly traded AIM listed internet gambling operators such as Party Gaming, 888 Holdings & SportingBet pulled out of the U.S. Market once UIGEA was enacted into law. Both Party Gaming and 888 Holdings have recently announced that they have started dialogues with authorities in the United States to seek clarification to their position under the new law prior to UIGEA being enacted.
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Last Updated ( Tuesday, 05 June 2007 )
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Written by Thomas Jensen
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Monday, 04 June 2007
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 The U.S. House of Representatives will hold a hearing on Friday June 8th, 2007 to take a look at internet gambling. The hearing is designed to examine whether internet gambling can be regulated in the United States.
In October 2006, the Unlawful Internet Gambling Enforcement Act was signed into law. UIGEA banned financial institutions from knowingly processing internet gambling financial transactions.
House Financial Service Committee Chairman Barney Frank has called UIGEA the "stupidest law ever passed" and introduced a bill in April that would repeal UIGEA.
Frank's bill would make it legal again for banks and credit card companies to make payments to online gambling sites.
The bill includes provisions for licensing and regulating online gambling companies to protect against underage gambling, compulsive gambling, money-laundering and fraud.
The Massachusetts Democrat said the ban was "imprudently adopted" and the pastime is "a matter of individual freedom." |
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Last Updated ( Monday, 04 June 2007 )
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Written by Thomas Jensen
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Monday, 04 June 2007
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 PartyGaming Plc released a statement saying that the company has started discussions with the Attorney's Office for the Southern District of New York and had been responding to the U.S. requests for information about the company.
The company stopped accepting American players after President George W. Bush signed the Unlawful Internet Gambling Act in October 2006. UIGEA does not make internet gambling illegal, however, it does make any financial transaction associated with internet gambling illegal.
"This has created some uncertainty as to what actions, if any, U.S. law enforcement agencies may take against industry participants, based on activity in the Unites States prior to Oct. 13," PartyGaming said.
The United States started its "War on Internet Gambling" back last July when the feds arrested BETonSPORTS CEO David Carruthers during a layover at the Dallas/Fort Worth airport.
Last month BETonSPORTS Plc pleaded guilty to U.S. racketeering charges and agreed to cooperate in a case against its founder Gary Kaplan, former CEO David Carruthers and other co-defendants.
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Last Updated ( Monday, 04 June 2007 )
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Written by Thomas Jensen
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Monday, 04 June 2007
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 The NETELLER Plc Group (LSE: NLR), the independent global online payments business, today announced that it has agreed to a plan for the distribution of funds to its US customers.
NETELLER is continuing to cooperate with the investigation being conducted by the United States Attorney’s Office for the Southern District of New York (“USAO”), under the advice of its legal advisers and in accordance with court orders in the Isle of Man. The Company is in discussions with the USAO for the purpose of resolving the investigation. The Company has advised the USAO that it will use its best efforts to resolve the investigation no later than 13 July 2007.
On 21 March 2007, the Company announced that it signed agreements with the USAO and Navigant Consulting, Inc. (“Navigant”) with respect to, among other things, developing a plan for the distribution of funds to US customers. Since then, in accordance with the agreements, the Company has worked with the USAO and Navigant to develop the plan. The Distribution Plan is now agreed upon, and the Company anticipates implementing the plan upon the resolution of the investigation.
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Last Updated ( Monday, 04 June 2007 )
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