Goldman Sachs bets on legalization and regulation of online gambling industry in US
The reason? …
In a recent note to its investors the firm shows how, by using statistics from PartyGaming, it can be estimated that the existing poker market alone is capable of generating over $1.5 billion. Goldman Sachs says the total possible stake for the US, by maximizing gaming and revenue created, may be as high as $12 billion or more annually.
Can US really miss such a good pot?
Frank and King introduce online gambling legislation
It’s time to regulate gambling on the Internet rather than outlaw it, says Rep. Barney Frank, the chairman of the House Financial Services Committee.
Reps. Barney Frank (D-Mass.) and Peter King (R-N.Y.) introduced legislation Wednesday that, if passed, would create regulatory framework for online gambling in the United States, and that is sure to please poker players. But the opposition is formidable and includes conservative groups that view gambling as exploiting the vulnerable, particularly the poor.
“Internet gambling in the United States should be controlled by a strict federal licensing and regulatory framework to protect underage and otherwise vulnerable individuals, to ensure the games are fair, to address the concerns of law enforcement, and to enforce any limitations on the activity established by the states and Indian tribes,” the 48-page bill reads.
Is online gambling coming in from the cold?
What will happen to online gambling during this year? The general picture is still not fully clear, but the biggest potential change would be probably in the United States, where, perhaps within days, Representative Barney Frank, Democrat of Massachusetts, is expected to introduce legislation aimed at overturning the Unlawful Internet Gambling Enforcement Act.
An overall view of the situation is explained in a recent article on New York Times “A New Chance for Online Gambling in the U.S.“. Here is a quick exerpt and a link:
“When the U.S. Congress cracked down on Internet betting in 2006, the big, publicly traded European companies that had dominated the business closed up shop in the United States. Growth in the booming industry shifted away from these companies, once the darlings of the stock market, to private operators in offshore locations like Antigua and the Isle of Man.”
Schedule released for 2009 World Series of Poker
2009 World Series of Poker is set for May 26-July 15 at the Rio All-Suites Hotel & Casino in Las Vegas.
Like 2008, play will pause after the field of the $10,000 buy-in main event is down to nine players. The 2009 version of the “November Nine” will return Nov. 10 to finish off the final table.
A $40,000 buy-in event commemorating the 40th anniversary of the WSOP is May 28 to kick off the series
All four rebuy events from 2008 have been eliminated
In total, there will be 57 bracelet events, the most ever. It includes 10 $10,000 buy-in events, including the main event, seven $1,500 buy-in events and the third $50,000 buy-in H.O.R.S.E. championship.
[Source: http://blog.mlive.com/deadmoney/2009/01/schedule_released_for_2009_wor.html]
Poker: Ivey Wins a Million Online
The independent online poker stats site MarketPulse reports that Phil Ivey enjoyed a profitable session Thursday at the Full Tilt Poker big-action virtual tables, taking over a million from formidable players like Tom ‘durrr’ Dwan and the ultra-cool Finnish player Ilari ‘Ziigmund’ Sahamies.
It’s been a bad week for Sahamies who lost a similar amount to Dwan, including one pot of $549 000, earlier in the week.
The biggest hand of the session saw Ivey take a $227 958 pot from Sahamies, who also lost more big pots to Dwan, incurring some of the heaviest losses of his online playing career to date.
[source: www.recentpoker.com]
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