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Full Tilt making former players nervous |
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Full Tilt Poker seems to be causing general nuisance amongst players who have deposited money on the website. Phil Ivey filed a lawsuit against the operator, asserting that the company owes around $150,000,000 to American players. Whilst Full Tilt reached an agreement with the U.S. Department of Justice so that they are able to refund players’ money using the seized domain name, no one seems to have noticed their funds landing in their bank accounts so far. What is the problem? Speculations are emerging that Full Tilt might actually not have the money at hand as it might have been invested elsewhere, the same way banks and other financial institutions do it – except banks are open about it and there is a legally determined reserve they always need to keep in the vaults. Is there a similar regulation applying to online poker sites? All of these questions remain to be answered. |
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Betting on Horses, the Online Way |
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Betting on horses is a time-honoured, traditional way to wager. People have been pitting the speed and skills of their best horses and riders against one another for centuries. This sport dates back to the days of Mongol Kings, when no other race (excuse the pun) even used domestic horses as a means of transportation as yet. Betting on horses and horse racing has always been the sport of Kings, until this sport fell under an authority structure in the UK first, just a couple of hundred years ago. At this point in time the bookie found ways to spilt the bet and offer odds, so, that ordinary people could also play. The sport hasn't looked back since, and is still one of the most popular spectator sports to be found world-wide. In some countries it only comes second in the popularity stakes to soccer.
In UK, betting on horses is an extremely popular sport. The racetrack tote was where it all started; this has spread country-wide to betting shops situated in every village, town and city. From betting shops it only took a short leap of faith to become one of the favourite sports betting activities to take place online. It's not illegal to leave the bookmaker with more money than you started, in fact when betting on horses online, or anywhere, this is the name of the game.
While traditional race track and High Street bookie wagers have not been thrown out of the betting shop window, online and mobile sports betting is become the most popular way to play. Mobile betting on horses and on other sports too, looks like the way of the future. It has hit the internet big time, and this just might be the way, you would prefer to play – you don't have to set a foot on the track.
Betting on horses is not a random gambling game, it's a game of skill. The punter needs to know what they are doing in order to win. It's about studying racing forms and indeed the racing form of the horse, jockey, trainer, track and even the owner. All of these plus many other variables see that the punter wins by using some sort of system. There are patterns in these variables and while it takes a little time getting used to, it's easy to start seeing patterns with just a little practice. It is fun, it is an intelligent way to risk money and a punter with a good system for betting on horses has a chance of making good money.
The most wonderful thing about betting online is that there are so many more opportunities to do this for less money. Bookmaking sites offer bonuses for making deposits, rebates, freebies and other goodies too. The only way to know if you might like it - is to actually give it a try. Online betting on horses takes place across the world also through betting exchanges, so when you start examining possibilities, explore every avenue you can. |
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A Scramble for Spanish Online Gambling Liberalisation |
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Just a few years ago, it was predicted that the Spanish online gambling market could grow to a very attractive €4.2 billion by 2010. These were some pretty tempting numbers for online casino, online poker, bingo and sports betting sites - certainly enough to get them interested in this business. New studies released are predicting growth in the near future to €39 billion, and this has the cash-strapped Spanish Government sitting up and taking notice too. It is not news that the high tech industry which supports these activities; is a solid mainstream, and highly paid industry too.
Europe is a massive target market for operators who know there is just no way they will get back into the US online gambling marketplace any time soon. In terms of the "Spanish" market; in its current context, only refers to Spain. But there are numerous countries around the world with Spanish speaking populations, and in fact, many of the sites which used to offer online gambling to US residents, offered these in Spanish too. So, there are a whole host of countries for which Spain could provide a hub for an online gambling licensing jurisdiction. This in itself would impact massively on its economy - the online gambling licensing industry has done the same for Gibraltar, Malta, Cyprus, Alderney, Isle of Man and so on.
Spain is now high on the target list for marketers who are now all but completely excluded from the American market. They are a major region for future growth, and the Government is fully aware of this fact.
Some time ago - major brand William Hill group had already started expanding into Spain. Spanish Football teams are being sponsored by online gambling companies, although with the dip in economy, even famous FC's have been struggling to get sponsors on board. Spain has also not as yet done everything it needs to do in the way of creating a legal jurisdiction. But there are many autonomous regions in Spain; all of whom are apparently working toward liberalisation in this market. It is believed that the sports betting sector as well as other interactive gambling will fare very well, and the Spanish also love their bingo. There are already a number of online bingo sites, dedicated to this market alone, and considerable growth has been seen.
The biggest problems to overcome are conflicts with the traditional gambling sector, and this appears to be one of the major driving forces for the problems in the US. Spain is a far less restrictive country, even less so than France, and France has their two little ducks in a row, so to speak. Spain is an attractive jurisdiction with even more attractive growth potential, and now that the Government has decided take the 'regulation' route, there is big promise in more ways than one. The opportunities for additional revenue is highly attractive, as is the fact that salaries for high tech personnel are excellent - they will also be spending their money in this country in which even the real estate industry has not picked up. The unemployment rate is shocking, and new growth can only be a good thing. |
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Online Gambling – Updating the Law To Account for New Technology |
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According to Republican Arizona Senator Jon Kyl, he is about to soften his stance on Internet gambling to accommodate new technology. However this brief is being geared as he prepares to leave his position in the US Senate. Therefore the fact that has softened his stance may be noted when it comes to legislation; but how much follow through can there be for online casinos and other gambling activities in the United States, with an absentee senator? In all honesty we are not really sure what the purpose of the statements on his website actually means.
Kyl, has been rabidly apposed to any efforts to legalize online gambling in the US, says on his website, that there are several subjects which need to be addresses in the next 18 months, prior to his departure. He has opened the door and had a change of heart; although in the past has been one of the biggest believers that online gambling fosters problems, like no other form of gambling activity.
In the past Kyl's stance has been that he does not believe it is right for gamblers to play games from their homes 24/7. This is obviously ok when in Las Vegas?! He has also said that he does not believe there are sufficient age verification systems in place - which leads to underage gambling. Then there is the use of the credit card for gambling online. Use of this payment method in his esteemed belief; is that it provides the owner with mis-perceptions of the value of cash? What a strange concept in a "Credit Card" driven economy where even 16 year olds are allowed to own credit cards? Apparently because spending on gambling is different as apposed to say; using all available credit buying Apple Bottom Jeans and Jimmy Choo shoes on eBay? Till now it has been his firm stance that gambling online leads to possible addiction (but not in Las Vegas); which in turn leads to crime, bankruptcy and also suicide.
So,Kyl has had some pretty strong conviction with regards to not allowing online gambling in the US! In fact it was he who was one of the main protagonists behind the promulgation of UIGEA in 2006. He has not so much expressed a change of attitude with online gambling per se, as he has with online poker. He maintains that efforts should be made to carve out exceptions for this game. Notably it was also he who used his position as a "Ranking Member of the Senate Finance Subcommittee on Taxation and IRS Oversight" to force President Barack Obama's administration to enact the provision of UIGEA last year in 2010. In fact he withheld consent of 6 nominated appointments to the U.S. Treasury until after the Unlawful Internet Gambling Enforcement Act was fully implemented.
With this having been said, Kyl' serious change of heart towards online poker before he leaves office, is more than a little bit strange in the wake of the US DOJ seizure of four of the largest online poker sites in the US. Apparently the change of mindset; now sees Kyle considering these games to be a potential source of income; rather than a social evil – go figure!? |
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