Online Poker Bill Passes Committee Vote in New York

10 February 2016 by Elgin Masterson

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Online poker has been talked about in the New York legislature since 2012 but wasn’t actually considered seriously till 2015. New York Senator John Bonacic first sponsored a bill to legalize online poker in 2012, but it never made it to committee, the first step necessary on the way to legalization. Senator Bonacic, chairman of the Racing, Gaming and Wagering Committee, said that he never intended to push the bill through at that time. He just wanted to get the ball rolling so that legislators could start discussing the pros and cons of internet gaming (iGaming). The bill was re-written by gaming committee chairman J. Gary Pretlow and introduced in the gaming committee in 2015, but it stalled and never made it out of the committee.

Fast forward to 2016 and it’s a different story. This time the bill, S.5302-B, sailed through on a 9-0 vote. The vote for the online poker bill did not take place publicly, with the entire hearing lasting only four minutes. Sen. Bonacic issued a brief statement on the legislation: “S.5302-B took a necessary step forward today with its vote out of the Racing Committee. The Bill now goes to the Finance Committee and I anticipate having ongoing discussions with my colleagues in both Houses regarding this bill as session moves forward.”
There now appears to be real momentum for online poker in New York. This comes in spite of the fact that there has been so much negative publicity concerning New York’s Attorney General declaring daily fantasy sports as illegal online gambling. So, it doesn’t seem that New York is anti-gambling online at all. They just want to make sure that everything is regulated to guarantee player protection. And, of course, to insure that New York gets its share of tax revenue.

The executive director of the Poker Players Alliance, John Pappas, offered this statement after the vote: “The PPA thanks Chairman John Bonacic and the Committee for acting quickly to pass iPoker legislation through the Senate Committee on Racing, Gaming and Wagering. If passed into law, the bill would provide New Yorkers who play poker online with a safe and regulated environment, while bringing in revenue for the state. We encourage the Finance Committee to move quickly to usher the legislation through the Senate, and also urge the Assembly to move forward with their respective legislation.” Pappas also said that “It would be a mistake for New York to wait for its brick-and-mortar casinos to go online. Moving Internet poker legislation now would establish an existing customer base of poker players for brick-and-mortar casinos when they open their doors for business.”

The Senate Finance Committee will next host the bill, but that hearing has not yet been scheduled.

New York Gaming Commission Licenses Three New Casinos

24 December 2015 by Elgin Masterson

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New York state gambling regulators on December 21, 2015 approved licensing for three new casinos. Preliminary construction for the casinos had already started in Schenectady, the Finger Lakes and the Catskills. Now, with formal licensing approved, full scale construction and financing can proceed unencumbered. The five members of the New York Gaming Commission unanimously approved all three licenses with no formal comments attached other than noting that all financial, legal, environmental and criminal background checks were satisfactory. Sixteen applications for these three licenses were submitted in 2014. The Gaming Commission took a full year for careful review before announcing licenses for the new casinos.

The Montreign Resort Casino will be built in the Catskills town of Thompson in Sullivan County. The Rivers Resort & Casino will be built in Schenectady at Mohawk Harbor. The Lago Resort & Casino will be built in the Finger Lakes town of Tyre in Seneca County. All three areas will experience a significant boost to the local economies. More than 3200 full-time jobs will be created to support the casinos. Projections of $265 million in taxes along with $136 million in licensing fees are estimated on an annual basis.

The awarding of the Lago Resort & Casino didn’t come without controversy. The Turning Stone Resort Casino is located only 65 miles away in the town of Verona and is operated by the Oneida Indian Nation. The tribe’s attorney says that the decision to build Lago was flawed and that its’ revenue will be siphoned off Turning Stone. They will be going to court to try and stop the construction of the new $425 million casino which will include a spa, restaurants, a 207 room hotel, 85 gaming tables and 2000 slot machines. The owners of Lago Resort, Wilmorite and Peninsula Pacific, say the entire Finger Lake area with all of its local businesses, wineries, breweries and farms, will benefit from increased tourism and that Turning Stone Resort shouldn’t worry.

The Mohawk Harbor project of Rivers Resort and Casino is part of a larger redevelopment effort of the industrial riverfront. Work had already begun on the blighted area in anticipation of licensing by the Gaming Commission. The $300 million project will have a hotel, high-end steakhouse, 1100 slot machines and 66 gambling tables. The River Resort and Casino is expected to be an economic engine for the area and a magnet for new businesses.

The Montreign Resort Casino project comes in at $630 million and includes an 18-story hotel and casino complex, meeting spaces and an indoor waterpark. The developer for the project, Empire Resorts, operates through a subsidiary of the nearby Monticello Casino & Raceway. It’s located at the site of the old Concord resort outside Monticello.

 

Online Gambling in Massachusetts Getting Close

12 December 2015 by Elgin Masterson

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Plans for casino expansion in the state of Massachusetts are well under way. Along with those plans, consideration is being given to legalizing online gambling. Bruce Tarr, the state Senate Minority Leader has been lobbying the Massachusetts Gaming Commission to grant internet gaming licenses to the states’ two planned new casinos, Wynn Everett and MGM Springfield. The option to offering online wagering with its additional revenue stream, is thought to be paramount in getting the new casinos off to a good financial start. Without it, it is feared that other states with legalized online gaming, especially the nearby states of Delaware and New Jersey, will undermine the new casinos potential success. This proposal does not allow for new casino licenses other than those that have already been approved. It was thought that this would be a great opportunity to provide sanctioning for fantasy sports, but such a provision has not been addressed in the new proposal.

The construction of three new regional casinos and a slot parlor will take place over the next four years. The new $1.7 billion Wynn Everett Casino will be 24 stories and located on the Everett waterfront. The price tag for the new MGM Resorts and Casino has already increased from $800 million to $950 million before construction gas even started. MGM Resorts is also currently involved in a campaign to challenge the legality of Connecticut legislation that could potentially the success of their new casino. The state has hired former Attorney General Eric Holder to assist. The Connecticut legislation has granted exclusive rights to two Indian tribes – the Mashantucket Pequot and Mohegan – to open a casino near the Massachusetts border. Meanwhile, Connecticut doesn’t think that there’s anything Massachusetts can do about it and are expected to award a construction contract by December 15 for the new casino. They are currently considering bids from East Windsor, East Hartford, Windsor Lock and Hartford.

Supports of Senator Bruce Tarrs’ proposal for online gambling feel it would be an excellent way to attract more players. But others feel that the option for internet gaming would diminish the new land based casinos chances for success by taking away potential players. The coming year of 2016 could see big changes for the online gambling marketplace in the United States –especially if Massachusetts and other states currently contemplating legalization do vote to legalize internet gambling.

World Series of Poker Won by “Average Joe”

25 November 2015 by Elgin Masterson

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The World Series of Poker was concluded in Las Vegas with Joseph McKeehen winning the Main Event and taking home $7.68 million.

If ever you needed a definition of “Average Joe”, look no further than Joseph McKeehen. Nothing dramatic stands out when describing McKeehen, he’s just a regular guy who is 24 years old and hails from the outskirts of Philadelphia. He’s proof that you don’t have to be a good looking movie star or a big time professional athlete to excel at poker. His relentless wear-‘em-down playing style and a love of numbers was just too much for the competition.

The final head-to-head showdown featured McKeehen and Joshua Beckley, another youngster at only 25. Beckley drew a pair of fours which gave him a slender edge over McKeehen’s Ace-10. He decided to go for it and went all-in. Then came the flop and a 10 gave McKeehen the hand and the tournament. Jack Effel, the World Series of Poker tournament director said, “I love seeing a dominating force come in with the chip lead, hold the chip lead, continue to play well, continue to overcome obstacles and win. That shows the true skill of the game.”

A total of 6,420 players entered this years’ World Series of Poker Main Event. The entry fee was $10,000 for which anybody could enter who had that kind of cash. The World Series started in May and to make it to the Main Event, a player had to get through 68 events in 51 days. Making it that far put a player in the Main Event starting during the summer where the field was whittled down to nine players, for the “November Nine”. McKeehen started his competition in the November Nine with the chip lead, having a total of 63.1 million chips. With the leverage that the lead brought him, he just started knocking off players one-by-one, winning six of eight head-to-head showdowns. By the time he got to the final two remaining opponents, he had three times as many chips as them, with 128 million. Game over!

Beginning as an invitation only event, the World Series of Poker started in 1970. Now, anyone can enter, as long as they can pony up the five figure entry fee. Tournament poker hit it’s heyday in the mid 2000’s when it was extremely popular and the subject of countless books and movies. Then, the federal government’s crackdown on internet gambling with the passage of the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA), really curtailed interest in poker online. But now, almost ten years later, with legislation against online gambling starting to loosen up, and the fact that an ‘average joe’ can win, tournament poker seems to be making a comeback.

 

Fantasy Sports Same as Online Gambling says Harry Reid

20 November 2015 by Elgin Masterson

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Can’t Harry Reid just retire and quit mucking things up. He embodies the quintessential definition of a politician – “what’s in it for me?” Depending on what day of the week it is, Sen. Harry Reid (D-Nev), is either for legalized online gambling or against it. In his latest rant, Harry Reid attacks daily fantasy sports as “unregulated, illegal gambling” and depending upon fantasy sports sites to self-regulate their industry is total nonsense.

Of course, Harry Reid was referring primarily to DraftKings and FanDuel, the two largest, most successful websites in the daily fantasy sports industry. And in particular, he was commenting on an open letter from FanDuel CEO Nigle Eccles that was addressed to FanDuel’s players and was posted on the website.

In the letter, Eccles said that the industry needed “strong, common sense, enforceable” regulations to protect consumers. He referred to sensible state regulation that’s already in place but didn’t name the state. Legislation such as third-party audits, age and location verification and safeguards against insider company information being used in contests are excellent examples of how the industry can police itself. Eccles went on to say “these are steps I have always advocated for — and now is the time to memorialize them in law for FanDuel and the entire industry.” The letter also noted that “some lawmakers are seeking to prohibit your right to play fantasy sports as you know it.” While Nevada wasn’t named specifically in the letter, gambling regulators recently decided to require fantasy sports sites to be licensed the same as a casino or sports book. Those sites without a license would not be allowed to operate in Nevada.

The controversy surrounding daily fantasy sports is over whether or not this is gambling. The industry points to an exemption for fantasy sports in the federal law (Unlawful Internet Gambling Enforcement Act) that banned online gambling in 2006. Proponents say that even though money is involved, it can’t be considered as gambling because there is a component of skill that is required when putting together a sports team.

Harry Reid agrees with Eccles that insider betting, age and geo location are bonafide aspects that need to be in place to ensure public safety, but that the state needs to be the one to enforce it, not individual companies. And the only way for the state to enforce it, is to charge huge licensing fees. In other words, Reid feels that if the state can’t get a piece of the action from an online gaming site, then it should be banned. In his statement, Reid said “without strong oversight, there is nothing stopping these terrible things from happening and we will continue to see more corruption from this unregulated, illegal gambling.” In referring to online fantasy sports as “what is essentially gambling by another name”, Reid is urging state and federal authorities to regulate the industry.

Nevada Declares Fantasy Sports to be Gambling

12 November 2015 by Elgin Masterson

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online-gambling-NevadaSo far, five states have enacted a total ban on daily fantasy sports. But Nevada falls somewhere in between a yes and a no by allowing fantasy sports companies to operate if they are fully licensed. This of course, becomes a new chunk of revenue for the state. If anyone is going to gamble in Nevada, the state wants their piece of the pie. So, really, it’s not a question of ethics and gambling, but rather, who gets the revenue.

Individual states aren’t the only ones interested in the legality of this issue. The FBI and the U.S. Department of Justice are looking at possible violations of federal law. Recently, Senator Robert Menendez, a Democrat from New Jersey, said “maybe we need to start treating online fantasy sports gaming like traditional sports betting, which has safeguards in place to protect the player.” Menendez has called for new regulations within New Jersey for daily fantasy sports. No doubt this is an effort to help make up the shortfall from the decline of casino revenue in Atlantic City that New Jersey has experienced in the last few years.

The Nevada gambling licensing process involves extensive background investigations and could take six months. In order to be compliant, DraftKings will disable its product in all Nevada gambling jurisdictions and said in an e-mailed statement “we strongly disagree with this decision and will work diligently to ensure Nevadans have the right to participate in what we strongly believe is legal entertainment that millions of Americans enjoy.”

In recent years fantasy sports have mushroomed in popularity, no doubt caused by the efforts of DraftKings and FanDuel. Fueled by huge investments from Major League Baseball, Time Warner Inc. and others, sports fans have been bombarded by fantasy sports advertising .

Fantasy sports were included in the 2006 Unlawful Internet Gambling Enforcement Act. It stated that fantasy sports games didn’t count as betting as long as certain caveats were met. A company had to have set prize pools, the contests had to be skill based and they couldn’t rely on the outcome of any single sports event. FanDuel and DraftKings constructed their games to conform to these points to construe an exemption from gambling laws.

Silver Oak Casino Weekly Promos, Codes and Considerations

11 December 2014 by Devon Chappell

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SilverOak Weekly BonusesSilver Oak is not an online casino short on player bonuses and promotions, with more than a dozen different offers on hand at any given time. Looking beyond the New Player provisions, this casino’s ongoing offers are worth a look. As such, before you choose from Silver Oak’s menu (specifically regarding the Weekly Bonuses taking place throughout each month), you’ll want to learn the pros and cons for each offer.

Weekly Deposit Bonuses

At Silver Oak, as the weeks within each month roll on, this online casino will increase your Deposit Bonus by 20% up to a maximum bonus of 160%.

During each month’s first week, 1st – 7th, existing Sliver Oak players are offered a 100% deposit bonus match. Use casino coupon code: 1MONTH7 at the cashier when you deposit.

Each month of the year from the 8th – 14th, existing Silver Oak casino patrons get a 120% deposit bonus match. Use casino coupon code: 8MONTH14 at the cashier when you deposit.

Following that, and through the 3rd week, from the 15th to the 21st, Silver Oak gives players a 140% deposit bonus. Use casino coupon code: 15MONTH21 at the cashier when you make deposits during this time.

At the end of each month, from the 22nd until the end of the calendar month, Silver Oak gives existing players a 160% deposit bonus. Use casino coupon code: 22MONTHEND at the cashier when you decide to make a deposit.

The fine print: As with all bonuses, the weekly bonuses offered at Silver Oak come with wagering requirements and/or stipulations. These are not new player deposit bonuses. The Weekly Deposit Bonus promotions at Silver Oak are only offered for players who already have accounts and have deposited at least once prior to taking advantage of the weekly bonus schedule.

These bonuses are geared toward players looking to play slots, blackjack and video poker for the most part – imposing a very typical 30x play-through for games of chance such as slots, while games of skill like Blackjack and Video Poker, impose 60x the bonus value before withdrawal from winnings is allowed. A very important consideration for any of these bonuses is that Roulette, Baccarat, Craps, Pai Gow, Poker War and Sic Bo do not count nor contribute toward meeting wagering requirements. However, this online casino has no max withdrawal once wagering stipulations have been met.

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Don’t forget to take a shot or two at The Naughty List, Sliver Oaks’ Christmas-themed slot. You are able to use deposit match bonuses to play this game.

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For even better gaming selection offers beyond the typical slots-based deposit matches, be sure to check out the Promo Crazy Days section in this casino’s promotions section for daily offers like Happy Hour, Terrific Tuesdays, 3x Wednesdays, $55 Thriller Thursdays, Friday Freebie, Super Saturdays and Free Chip Sweet Sundays.

This Realtime Gaming (RTG) software powered online casino is US player friendly.

MGM Supports New York Online Gambling Market

1 December 2014 by Devon Chappell

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While New York has been on the cusp of legalizing various forms of online casino gambling, and has been one of a handful of states that industry insiders believe will be the next to go live with real money wagering online, the fact of the matter is that the fuel supporting the latest push for legalization in the Empire State is coming from out West.

Let NY Play, is the latest proponent slogan for iGaming in New York. Social media outlets have been fanning the flames through this organization, which is actually coming from none other than MGM Resorts International. MGM is a huge gaming brand based in Las Vegas, Nevada.

So then why all the backing from a casino brand that doesn’t even have a land-based property or a stake in New York?

Well, New York is getting ready to move forward with granting four different licenses to develop online outlets, and while MGM is interested, it has no hand in the game other than possible future interests. MGM has lobbied in the state of New York before – specifically in support of the legalization of online poker.

While Let NY Play is gaining social interest online, MGM surely cannot be embracing the idea that New York will generate enough revenue from the get-go to stimulate the expansion of online gambling a la New Jersey, which is still struggling to generate increased online wagering income even though there are more than a dozen online casinos there.

But wait, in New York it’s about poker specifically. New York is a state that loves poker. MGM knows that New York residents bet as much as $110 million in non-regulated online poker activity. Further believing that NY could generate between $50-80 million in revenue each year, MGM may have designs on the future indeed. This estimate does not consider additional revenue the state would gain from the licensing process itself.

Still, is there something else propelling MGM in its support of NY so much? NY’s neighbor, New Jersey, has come nowhere near earning the revenue it originally predicted it would when gambling online went live over a year ago.

Needless to say, MGM officials are taking the “slow and steady” road, and believe that while there has been a slow start to the industry, the tables will turn eventually. After all, there are online casinos that are not based in the US still taking wagers from US players, and thereby cutting into the market.

Interest by many offshore and European online poker giants to move back into the US market may be the solution to the needed income. But the question remains whether or not US markets such as NY are ready to grant permission for the world’s most successful online poker brands to move in.

The fact that MGM owns half of the Borgata, which hosts the most popular online casino in New Jersey at this time, may be another factor. Perhaps MGM will go live via the Borgata, creating a site related to its New Jersey destination. There are rumblings in the industry that this is a possible outcome in the near future, but New Jersey is not New York.

Whatever MGM’s motives may be entirely, the state of New York is on the verge of legalization, indeed. As casino licensing gets underway, there are sure to be further developments regarding MGM’s support of online poker in New York. Time will tell what they are.

Big Gambling Brands Dying by Way of Netflix?

22 November 2014 by Devon Chappell

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CVC Capital Partners, the largest private equity firm in Europe, has recently given their vote of confidence on behalf of the online gambling industry. The private equity investors agreed to purchase a hefty controlling stake in the online gambling company, SkyBet. In fact, it was the largest purchase made by private investors in the quickly changing industry that is iGaming. At a sizable $1.25 Billion, this purchase secured for CVC Capital Partners is roughly 80% of SkyBet.

Seeded by the UK’s Sky Satellite Broadband Company (much beloved for their SKySports sector), SkyBet initially made it’s mark via online sports betting, and has since established itself in the realms of online poker and other online casino games. Having such a robust and respected private equity firm place it’s bet in favor of the company says a great deal about the shift that is taking place in general perception concerning the online gambling industry’s ability to be a thriving, dependable economic powerhouse.

This shift can be observed in multiple similar investments and partnerships that have begun to dot trade publications in recent years. For instance, when software conglomerate, Amaya, made their $4.9 billion buyout of the popular PokerStars, the credit division of the world’s largest private equity firm, Blackstone Group, backed the deal with a $1 billion credit line. This groundbreaking change in how mainstream business regards online gambling put banking heavyweights like Deutsche Bank and Barclays in the position of holding assets rooted in the online gambling industry. Not surprisingly, Amaya’s shares have enjoyed a swift upswing since.

What is of main interest here is the somewhat less hearty investment being made by private equity into the online division of the land-based casino giant, Caesars Entertainment. It has yet to be confirmed if this is a reflection on the current struggle Caesars’ finds itself in, or if it is a preference for the specialization that companies solely focused on online gambling offer. For example, which company would likely woo more investment at this point? Twitter, or a new Short form social media product created by Microsoft?

Well, it probably wouldn’t be going out on a limb to say that Twitter would win due to its advantage of having established the first product of this nature (nor ro mention the fact that all of the company’s assets are focused in that single area). This preference differs a great deal from the original predictions that land-based casinos would overwhelm the online market and take over with brand power.

Could land-based casinos go by the way of Blockbuster vs Netflix ? Luckily, given that Caesars is already working to get ahead of the curve, they are more likely to ensure their survival in a digital future. Other land-based companies do not seem to be quite as prepared. One way or another, a simple prediction to make is that as the world’s money holders become invested in the success of online gambling, the governmental resistance to the legalization of it will surely wither.

Weekly Casino Promos Roundup

7 November 2014 by Devon Chappell

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If you wish to use various bonuses and promotions to lengthen your online casino gambling, here is a roundup of the most prevalent offers currently on hand for a very limited time. Remember, you are never required to use any bonus or promotion. That said, it is not recommended that you take part in any promotion or bonus unless you are well versed on the specific requirements and stipulations that come with bonus money and promotional events offered by online casinos. If you have any issue with wagering requirements, you can always play with your own money exclusive of any deal on offer.

Club USA Latest Offers (click to see more)

This week at Club USA, players can take advantage of several casino coupon codes that will provide deposit matches for online slots play. From November 6th through November 9th, Club USA players can use the following 4 codes one after another:

First promo: 65% Slots Deposit Match Bonus using online casino code: RPLS65COMBO1. 

Second promo: 67% Slots Deposit Match Bonus using online casino code: RPLS67COMBO2.

Third promo: 67% Slots Deposit match Bonus with 25 Free Spins on Voodoo Magic using online casino code: RDLS67COMBO3.

Fourth promo: Get 100 Free Spins on Enchanted Garden using online casino code: RSLS100COMBO4.

The fine print: The first two promos come with a 25x wager requirement, which must be met before any withdrawal from winnings can be completed. Only slots and Real Series video slots count towards meeting the wagering requirement for these two promos. Each of the first two promo codes will work one time and are only valid November 6-9.

The third promo also comes with a 25x wager requirement. Only slots and Real Series video slots are included and the code will work one time during November 6-9.

The fourth promo code also comes with a 25x wager requirement, with a max withdrawal of $200. The 100 free spins is for Enchanted Garden only, and at a rate of $0.20 for each spin, totaling $20.00. Only slots and Real Series video slots are valid with this promo and the code is valid one time during November 6-9.

Slotter Casino Latest Offers

Friday, November 7th, Slotter Casino is running its popular TGIFriday promo, wherein players can use online casino code: FRINIGHT to get a 75% Deposit Match bonus up to $1000 playing slots. Additionally, players can also use code: TGIFRI for a 55% Deposit Match on all games.

The fine print: The slots bonus code will work one time and the all-games code will work up to ten times. Both promos come with a 25x wager requirement. Be aware that beyond slots, each casino game is governed with variable percentage rates that work toward meeting your 25x wagering requirement. These promos have no max cash out. Simply refer to the Slotter Casino Terms and Conditions section if you have questions about what percentage any casino game you wish to play counts toward meeting your 25x wager requirement.