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Reposted from the Safe and Secure Gambling Initiative
Amendments Further Strengthen Bill’s Consumer Protection Requirements
(Washington, D.C. - July 28, 2010) Today the House Committee on Financial Services took a critical step forward in passing Internet gambling legislation by voting to approve the Internet Gambling Regulation and Consumer Protection and Enforcement Act (H.R. 2267), legislation introduced by Committee Chairman Barney Frank (D-MA). The legislation, which passed by a 41-22 vote would regulate Internet gambling activity in the U.S. and require licensed operators to put in place safeguards to protect against underage and problem gambling.
“The Committee’s bi-partisan vote to approve Chairman Frank’s legislation is nothing short of historic”, said Michael Waxman, spokesperson for the Safe and Secure Internet Gambling Initiative. “With Congress bitterly divided and only a handful of bi-partisan bills coming out of the Financial Services Committee, we’re pleased Committee members from both sides of the aisle were able to come together to advance this important legislation.”
During today’s mark-up there were several amendments introduced from both sides of the aisle. Rep. John Campbell (R-CA) offered, and the Committee approved, an amendment that would further strengthen the legislation’s already strict consumer protections, including a requirement for licensed operators to have each customer choose his or her loss limits before being able to play on-line. Rep. Campbell’s amendment also requires licensees to protect customers by ensuring the customer privacy and security and protecting against fraud and money laundering.
Chairman Frank’s legislation, introduced in May 2009, would establish a regulatory and enforcement framework for licensed gambling operators to accept bets and wagers from individuals in the U.S. Beyond an array of required consumer protections, the legislation reinforces the rights of each state to determine whether or not to allow Internet gambling activity for people accessing the Internet within the state and to apply other restrictions on the activity as determined necessary.
As a companion to Rep. Frank’s bill, the Internet Gambling Regulation and Tax Enforcement Act of 2010 (H.R. 4976) introduced by Rep. Jim McDermott (D-WA) in March 2010, would ensure the collection of license fees and taxes on regulated Internet gambling activities.
Generating significant attention are the economic benefits of online gambling regulation. According to a Joint Committee on Taxation tax revenue analysis, regulated Internet gambling is expected to generate as much as $42 billion in federal government revenue over its first 10 years. Additionally, a recent analysis by H2 Gambling Capital predicts that Internet gambling regulation would create as many as 32,000 jobs over its first five years. There would also be additional economic benefits associated with jobs creation.
“The momentum of today’s vote and growing bi-partisan support for online gambling regulation demonstrates to congressional leaders in the House and Senate that this issue is a priority and should be addressed,” said Waxman. “Leaving in place a failed prohibition should no longer be the government’s misguided policy approach, leaving millions of Americans vulnerable as they continue to find a way to gamble online in a thriving underground marketplace.”
The legislation has drawn the support of 69 bi-partisan co-sponsors. Support for the legislation was also announced last week by the U.S. Chamber of Commerce, the Financial Services Roundtable and the National Association of Federal Credit Unions.
About Safe and Secure Internet Gambling Initiative
The Safe and Secure Internet Gambling Initiative promotes the freedom of individuals to gamble online with the proper safeguards to protect consumers and ensure the integrity of financial transactions. For more information on the Initiative, please visit www.safeandsecureig.org. The Web site provides a means by which individuals can register support for regulated Internet gambling with their elected representatives.
July 28th, 2010 7:03:47 PM UTC | Posted in Gambling Law, News by admin | No Comments
What’s Next for Tiger Woods?
NEW YORK, NY – What started as an alarming report of a car accident for Tiger Woods following Thanksgiving has quickly spiraled downward into reports of multiple affairs and what the golf legend has called “transgressions”. With more and more reports of depravity leaking out speculation is at a fever pitch and fans across the country are wondering what’s next for golf’s greatest. This being the case, the largest most successful sportsbook on the web, BetUS.com posted odds on all things Tiger.
Analysts at BetUS.com posted the following odds on Tiger Woods:
Number of girls that claim to have slept w/ him while married?
Over 7½
Under 7½
When will an illegitimate kid show up?
January – June 2010 2/3
July – December 2010 11/10
2011 or Later 6/5
How many of his kids will be born in 2010?
0 1/2
1 1/1
2 6/5
3+ 2/1
When will he divorce
Jan – Feb 2010 1/1
Mar – May 2010 2/3
Jun – Sep 2010 6/5
Oct 2010 or Later 3/2
Tiger go to jail in 2010
Yes 20/1
Will Tiger retire in 2010
Over 2.5 5/6
Under 2.5 5/6
Will Nike drop Tiger
Yes 10/1
Will fans boo tiger on tour
Yes 10/13
No 10/11
What will be Tiger’s first interview
Oprah 6/5
Larry King 10/11
ESPN 2/1
60 mins 6/5
Who has an affair first?
Tiger 5/6
Wife 5/6
Will Tiger’s wife write a book before 2012
Yes 2/1
No 1/3
Which mistress will write a book first
Holly Sampson 6/5
Mindy Lawton 3/2
Cori Rist 5/2
Jamie Jungers 3/1
Jaimee Grubbs 1/2
Kalika Moquin 7/2
Rachel Uchitel 5/1
Any Other 3/1
December 11th, 2009 10:06:26 PM UTC | Posted in BetUS, News by admin | No Comments
Drafting can’t miss prospect Stephen Strasburg was a no-brainer for the Washington Nationals, but the big question is, will they be able to sign him? Strasburg is considered to be one of the most talented player taken in the history of the draft, as he throws big time gas (102 MPH), has a wicked breaking ball, and was stellar at San Diego State going 13-1 with an ERA of 1.32 ERA. The thing is agent Scott Boras, who is notorious for tough negotiations and getting the max dollar amount for his client, represents Strasburg. Boras will probably look to break the bank and it has been reported that the Nationals will have to fork over at least $50 million with a substantial signing bonus. If the Nationals cannot come to terms with Strasburg by August 15th then they will lose their rights to him.
One of the leading sportsbooks has odds on if Stephen Strasburg will sign with the Nationals with Yes at -400 and No at +250.
If there was one team that needed a player like Strasburg it is the Washington Nationals. They have, by far, the worst record in the Majors this season, by around 10 games and have the 2nd worst team ERA at 5.16. The Nationals do not only need a solid starting pitcher like Strasburg, but signing the phenom will definitely fill the seats when he hits the big leagues. Washington ranks 24th out of 30 teams in terms of attendance this season.
One of the things about Strasburg that is attractive to the Nationals is the fact that he is seen as being ready to play in the Majors right away. He is not coming right from high school, as he has played college ball and that will help. Perhaps one of the best accolades that Strasburg has received is by his high school coach, who was one of the best hitters of all time in Tony Gwynn. When Gwynn was asked about Strasburg and how close he is to playing in the Majors Gywnn stated, “I think he’s a lot closer than people think. If he does get to the big leagues, he’s got the kind of stuff, the kind of baseball savvy, he could be successful.”
The pressure is now on the Nationals to sign their number one pick. Boras knows that the Nationals are desperate to sign him, which will only make it easier for him to get as much money as possible from the dreadful team from the nation’s capital.
July 19th, 2009 3:51:06 AM UTC | Posted in Baseball, Futures, News, Sports, Sports Betting by Jason Green | No Comments
NFL OWNERS OPT OUT – PUNDITS PREDICT POSSIBLE OUTCOMES: LOCKOUT? STRIKE? SEASON CANCELLATION?
BetUS.com Posts Odds on Outcome of NFL Owner’s Opt-Out
NEW YORK May 6, 2008 – The NFL officially notified its players union on Tuesday that it will opt out of the current collective bargaining agreement, which could lead to a season without a salary cap in 2010 and a possible lockout in 2011.
With fans on edge, wondering about the state of their beloved league and what the possible consequences of Tuesday’s decision might be, the largest most successful sportsbook on the web, BetUS.com has once again beaten everyone to the punch and come to their aid with odds and predictions of possible outcomes.
“With all of the traffic we’ve had since the announcement on Tuesday, one thing is very, very clear,” stated BetUS.com spokesman Reed Richards. “Fans are sick and tired of being put through the ringer. It’s simply not fair to ask them to wait with bated breath for three seasons wondering if there’ll be a lockout at the start of each. As such, we’re putting all of our predictive and analytical prowess on the line in order to give them some semblance of what might happen.”
Oddsmakers at BetUS.com posted the following odds in reaction to the NFL owner’s announcement on Tuesday:
NFLPA Strike before start of 2011 season
Yes 6/1
NFL ’09’10’11 seasons delayed (odds on each)
2009 NFL Season Delayed
Yes 15/1
2010 NFL Season Delayed
Yes 10/1
2011 NFL Season Delayed
Yes 4/1
Roger Goodell Resigns Before 2011 Season
Yes 6/1
Roger Goodell Fired before 2011 season
Yes 3/1
NFLPA Locked out by 2011 season
Yes 2/1
Odds on cancellation of ’09, ’10, ’11 Super Bowl
2009 Super Bowl Canceled
Yes 50/1
2010 Super Bowl Canceled
Yes 35/1
2011 Super Bowl Canceled
Yes 10/1
May 27th, 2008 4:00:13 PM UTC | Posted in Football, Futures, News by admin | No Comments
