Category: internet gambling

Can We Make Money By Playing Online Games
casino blog
24 October 2013

The facility of internet has helped in making everything online and games are no exception to it. The technology and internet has made it possible that you can play any type of games from the comfort of your home. And to add more fun and thrill to the gaming, you can even earn handsome amount of cash by playing some games.

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€6.7 Million Progressive Jackpot Winner
casino blog
21 August 2013

As recently as April 2013, a lucky player from Sweden netted himself one of the largest ever progressive jackpot won by an online gambler while playing on a Net Entertainment slot called Hall of Gods. This win came just a few months after another lucky player also scooped a life-changing sum of money from a different NetEnt slot called Mega Fortune.

“Announcing yet another million euro winner so soon after the World Record Jackpot in January is a great testament to our games and continues our history of creating millionaires from our popular progressive video slots,” said Per Eriksson, who is the current President and CEO of Net Entertainment.

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The social predicament of online betting
casino blog
03 August 2012

Over the past few years and with the advent of online gambling, it seems as though gambling in general is becoming frighteningly and increasingly more socially acceptable. Young and old can now place a bet at the click of the button, whether they are at home or even now on-the-go via the use of a mobile device. It isn’t the view anymore that gambling is a ‘mug’s game’ or that gambling is purely for degenerates.

Everyone is getting in on the action. With all this gambling on the TV and on the internet, we are without a doubt breeding a new generation of hardcore gamblers across the nation. For some people, gambling is something to be done at certain times of the year when famous events take place such as the Grand National horse race or the footballing FA Cup Final. But for others, the freedom to gamble online has really opened up a can of worms.

Unfortunately for many, gambling is starting to take hold of people’s lives and although (as mentioned) we know that is has become a more socially acceptable ‘pastime’, gambling is still the destroyer of worlds.

Just like any other addiction, whether it’s of the drug or alcohol kind, gambling can turn into a major problem if you are not careful. Sure, there are independent entities and some government-funded organisations that can help gambling addicts, but only a very small minority of the population that even recognise they have a problem will actively seek help.

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Profiting from the profiteers - How the US Government are planning to tax online gambling when it regulates
casino blog
30 January 2012

Back in the summer of 2011, the Internet Gambling Regulation and Tax Enforcement Act (H.R.2230), which is a federal bill, was introduced and referred to the Committee by Rep. Jim McDermott.

If it the bill gets passed (which is currently still in the early stages of the legislative process), it will not receive a warm welcome because of the steep taxation that will affect both the operator and the player. Most bills do not make it past the committee stage but if it does, it appears as though players will certainly not be able to gain from it. In fact, quite the opposite will happen.

This bill will modify the 1986 Internal Revenue Code and is solely aimed at taxing and regulating Internet Gambling.

Operators of online gambling portals will still have to apply for a separate gaming license for the particular US state that they seek to operate their business from. The legislation will mean that operators are obliged to collect tax details and data from their registered users and details of all of their cash wagers. This information that they collect will then have to be relayed to auditors.

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UIGEA, the latest update in the situation in 2011
casino blog
07 May 2011

UIGEA, the Unlawful Internet Gambling and Enforcement Act came into effect back in 2006 to prevent financial institutions from transferring funds to online gambling operators and the initial aim was to stop financial transactions to offshore online casinos. It does not prevent the individual from placing bets on offshore online casinos just US financial institutions but it did lead to a dramatic decline in many online casinos accepting US players.

Operators like Party Gaming stopped its US operations immediately even before the legislation came into effect causing its stock price to drop by 60%. Another major player, Microgaming which powers approximately 100 online casinos also stopped business with US players causing a drastic reduction in their prices too.

In an attempt to change the dramatic effects that the UIGEA had on the online gambling industry a bill called the Barney Frank’s HR 2267 was introduced to the House Financial Services Committee but unfortunately it was not voted on in time by the House of Representatives so the initial full UIGEA came into effect on June 1st 2010. This meant that the HR 2267 bill had to be re-introduced making it a sure fact that any amendments would not take place to the legislation until a much later date.

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