Online Casino Gambling

A press release was given on May 20^th, 2011 from Atlantic City, New Jersey regarding the details of the 15^th Annual East Coast Gaming Congress. This event was held on May 23^rd and May 24^th at the Atlantic City Convention Center. The Congress is produced by the Spectrum Gaming Group, a research firm, SOSH Architects and Cooper Levenson Attorneys. The focal point of the conference was the implementation of online gambling in the United States.

The Inevitability of Online Gambling in the U.S.

Although several online poker rooms were seized by U.S. authorities, the majority of Americans believe that online gaming is inevitable. The primary issue in question is whether online gaming will be regulated at the federal or state level. Many experts opine that the regulation will involve both bodies.

Internet Gambling: The Game Changer Discussion

Sponsored by the Global Gaming Business and the Senior Associate of Market Research at the Spectrum Gaming Group, the East Coast Gaming Congress included a discussion entitled, “Internet Gambling: The Game Changer.” Four nationally-recognized experts on the subject addressed a variety of questions related to the popular activity.

The Speakers included; Melanie Brenner, President of the U.S. Online Gaming Association; Honorable John Burzichelli, New Jersey State Assembly; Richard “Skip” Bronson, Chairman of U.S. Digital Gaming and Jan Jones, Senior Vice President of Communications/Government Relations of Caesars Entertainment. The selected speakers offered well-rounded expertise in gaming and government.

The East Coast Gaming Congress

The Congress has always been a popular even for the online gambling industry with over 600 gaming operators, regulators, attorneys, architects, public officials, analysts, investors, equipment manufacturers and other related professionals in attendance. The event began with a reception at The Pool at Harrah’s Resort Atlantic City.

Land-Based Casino Discussions

Although the focal point of the Congress was online gambling, several land-based gambling issues were also discussed. For instance, the economic condition of the land casinos in Atlantic City was an important topic. The entire conference schedule is available at the East Coast Gaming Congress website.

New Jersey was selected as the location for the Congress due to the chance (until late 2010) that the state could be the first jurisdiction to legalize and regulate online gambling. Unfortunately, Governor Christie vetoed the bill on the final day. The Congress was an excellent chance for many citizens and law-makers to learn more about the positive and negative effects of online gambling. This will perhaps allow them to make a more informed decision.

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Not long ago, several online poker rooms were seized in the United States. Since that time, the American Gaming Association (AGA) has taken the lead for advocating the implementation of an online gambling bill that legalizes the activity in the United States. The AGA is an organization that advocates for land gambling. Therefore, this is quite a surprise that the group is supporting online gambling.

Benefits of Implementing Online Gambling

The Chief Executive of the AGA wrote an article in Washington, D.C.-based political publication, The Hill. The article discussed how Americans enjoy gambling online and that millions of Americans bet billions of dollars each year at overseas online casinos. Furthermore he stated that these players are willing to wager against the wishes of the United States Government.

The Chief Executive also mentioned that he supports the indictment of the three illegal poker rooms that were shut down by the government. However, he also added that law enforcement cannot solely be the solution as those that wagered at these sites are now betting elsewhere. Unfortunately, these other sites may be unsafe to players.

Creating a Regulated Online Gambling Environment

As a result, he is advocating for the creation of a regulated online gambling environment that is safe for players. This can be implemented by amending the UIGEA and education to the public. This will also immediately create thousands of new jobs and raise U.S. tax revenues by approximately $20 billion over the next ten years.

The Press Conference

The day after the article was published; the Chief Executive of the AGA joined three land-based gambling chiefs to conduct a press conference in Washington, D.C. All three are in favor of the legalization of online gambling. They further noted that the technology for precautionary measurements is available. Additionally, they stated that since the demand for online gambling is so high amongst Americans, there is no other option.

Another Initiative

Another planned initiative by the association is to develop its own bill for online gambling. The bill will be created for independent state regulations with the supervision of the Federal government.

The AGA is playing a major role in the implementation of online gambling into the United States. Due to its ties to the U.S. Government, they may actually be persuasive enough for a new bill or amendment of the UIGEA to be implemented.

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Industry-leading online payments processor, Quick Tender, has been catching some heat from American online gamers. The service is located in Europe by tends to numerous countries across the world. Lately, Quick Tender has received an increasing number of complaints from American gamblers and their affiliates for payments being delayed. Ironically, the funds had been withdrawn from Quick Tender’s bank accounts in a timely manner.

Highlighting the Service

The payment processor investigated the issue and released a press release as to why this occurred. The statement began by reminding the audience that Quick Tender has been a reliable and efficient payment processor to online gambling players for many years. The company further detailed that excellent service can be offset by “the vagaries of the US administration.” This is a reference to the actions the U.S. Government has taken against the payment processors for the online gambling industry.

A Free by U.S. Bank Accounts

Next, Quick Tender got right to the point stating that the processor has transmitted withdrawals to their account holders in the United States over the past several weeks. They reconfirmed the funds had left their European bank accounts. Quick Tender went on to report that these funds are accumulating in American bank accounts because the money is frozen. The financial processor believes the funds are subject to a seizure order by U.S. Authorities.

Temporarily Freeze Future Withdrawals

They further stated that their intention is to ensure account holder’s funds are safe and has decided to freeze future withdrawals until the frozen funds are released. The specific release says, “If we continue to transmit bank wires into the US we could find that these funds also do not reach their ultimate beneficiaries. This would simply make the problem worse.”

Clarification from U.S. Banks

Quick Tender ended the statement requesting its users to be patient while it acquires clarification from the U.S. banks. Meanwhile, the processor will continue to investigate its exposure and how it can safely restart withdrawals ensuring the funds will not be frozen. The company has excellent exposure to U.S.-based online gambling players and is fully aware of the ramifications of going against the U.S. Government.

This is the same type of situation that knocked many other online gambling payment processors out of the U.S. market. Hopefully, this does not have a major negative impact on Quick Tender’s reputation and they will continue to provide payment solutions to U.S.-based players in the future.

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