Group items tagged

Although online poker is a gold mine of data, until now nobody knows where the players and their money come from. It seems that the knowledge about the online poker market has not been able to keep up with the speed of its evolution in the past years. This paper is the first to shed light on this matter. We use data of 4,591,342 poker identities from the Online Poker Database of the University of Hamburg (OPD-UHH) collected over a six months period from 09/2009 to 03/2010. We find that the USA is still by far the biggest market with 1,428,823 active players and 650.5 million US$ net revenues in 2009. However, with regard to the number of internet users in a country Hungary is the biggest relative market: One out of 57 Hungarians with internet access plays online poker for real money. The two main drivers of the proportion of online poker players per internet users are GDP per capita and culture. Using the data from the OPD-UHH, future research will be able to break down the market also on a regional level within countries and to examine inter and intra country differences in the playing habits of online poker players.

NEARLY 130,000 Australians are playing illegal internet poker games, with US operators raking in $68 million in one year, according to new research. Online casino games, including poker, are illegal in Australia but in May the federal government released an interim review of interactive gaming laws that recommended legalising internet poker as part of overall liberalising of the industry. Other casino games would remain banned.

Nearly 130,000 Australians are playing illegal internet poker games, with United States operators raking in $68 million in one year, according to new research. Online casino games, including poker, are currently illegal in Australia. But in May the federal government released an interim review of interactive gaming laws that recommended legalising internet poker games, as part of overall liberalising of industry. Read more: http://www.smh.com.au/technology/technology-news/illegal-online-poker-is-costing-australians-68m-20120705-21kdg.html#ixzz1znVbSn89

Brent Beckley, 32, joined Costa Rica-based Absolute Poker in 2003 and became its head of payment processing. Last December, he pleaded guilty in Manhattan federal court to conspiring to break U.S. laws against gambling on the Internet. He also pleaded guilty to a charge of conspiracy to commit bank fraud and wire fraud. [ID: nL1E7NKCPP]

"Boom… Prior to 2006, Internet-based gambling was effectively legal in the United States. Although the Federal Wire Act from 1961 prohibited transmission of sports betting information using telecommunications services, in 2002 a U.S. appeals court ruled that the sports-related provisions in the Wire Act did not preclude Internet gambling. Although some states and jurisdictions did have laws on the books specifically prohibiting online gambling, many did not - and so started a bit of an online gold rush as online gambling companies tried to capture chunks of the lucrative U.S. market."

" New Jersey is deadly serious about making sure anyone who gambles online once Internet betting begins this week is physically within the state. And the technology designed to ensure it may freeze some bettors out of the action unless they move farther away from the state's borders."

"Although social gaming juggernaut Zynga was reportedly 'leading the race' in a bidding war for online poker provider Ongame Network just a few months ago, Amaya Gaming Group has ended up winning it. The Montreal, Canada-headquartered gaming company this morning announced that it has acquired Ongame from Internet gambling powerhouse Bwin.party for 25 million euros (just south of $32.2 million)."

AUSTRALIANS could get access to legal online poker tournaments and a wider choice of online sports betting options under proposals to liberalise the internet gambling sector

With literally thousands of online casinos on the internet, it can sometimes become very confusing as to which ones are safe and reputable, and which casinos are not. So many of them are beautifully designed, look very professional and offer great signup bonuses, so how does one go about choosing the "reputable" online casinos while avoiding the "dodgy" ones?

"The bill, called the Internet Gambling Consumer Protection and Public-Private Partnership Act of 2012, would allow for $30 million licenses for gambling outfits with whom Zynga could potentially partner to offer online poker to players within California. The California legislation stalled earlier this year, but may yet be reprised."

"While Zynga waits to make a move into the online gambling space, other Internet casinos are all in - and have been for more than a decade. This infographic shows how much the industry has grown since 1998, from online bingo and poker sites to national and state lotteries."

A federal judge ruled Tuesday that poker is more a game of skill than chance and cannot be prosecuted under a law created to stop organized crime families from making millions of dollars from gambling. The decision by Judge Jack Weinstein in Brooklyn was embraced by advocates of card games pushing to legalize Internet poker in the United States. The judge relied extensively on the findings of a defense expert who analyzed online poker games.

The world's largest Internet poker company, PokerStars, is settling with the government to the tune of $731 million more than a year after a crackdown on online gambling. And, in possibly the best part of the deal, the company is also buying former competitor Full Tilt Poker and paying back its customers, who were left locked out of their accounts after the site's U.S. operations were shut down last April. In the agreement with the Manhattan branch of the Department of Justice, PokerStars will forfeit $547 million to the government over three years. The payment will settle civil charges that the company engaged in fraud to sidestep U.S. regulations on online gambling.

"Nevada and the District of Columbia have already taken steps to authorize online poker, and state officials in Iowa have been studying the issue closely. Lawmakers in New Jersey and California are redoubling their efforts to legalize it, bolstered by a recent Department of Justice decision that reversed the federal government's long-held opposition to many forms of Internet gambling. Gov. Chris Christie of New Jersey spoke this month of making his state an "epicenter" of the online gambling industry. "

"I plan to keep moving forward with my efforts to move H.R. 2366 through the committee process, and I am confident it will be passed by the House and Senate - hopefully in this session." Senate Majority Leader Harry Reid , D-Nev.,