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The owners and founders of the three largest online gambling sites in the United States have been indicted and charged with bank fraud, money laundering and illegal gambling offenses.

New York prosecutors say they’ve issued restraining orders against more than 75 bank accounts in 14 countries used by the poker companies, which they say will interrupt the illegal flow of billions of dollars, according to The Associated Press.

Eleven individuals were charged over their involvement running PokerStars, Full Tilt Poker and Absolute Poker for violating the 2006 Unlawful  Internet Gambling Enforcement Act.

The Justice Department has filed a civil complaint for money laundering that seeks $3 billion being held by the companies.
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Tags:   Absolute Poker · Full Tilt Poker · PokerStars · uigeaNo Comments.

The District of Columbia is becoming the first U.S. jurisdiction to allow Internet gambling, trying to raise millions of dollars from the habits of online poker buffs and acting ahead of traditional gambling meccas like New Jersey and Nevada.

Permitting the online games was part of the 2011 budget and a 30-day period for Congress to object expired last week, said D.C. Council member Michael A. Brown, who authored the provision. The gaming would be operated by Intralot, a Greece-based company, and would be available only to gamblers within the borders of the district.

Officials were not sure when the gaming would be up and running, though DC lottery officials said they were in talks with their vendor and expect to know more within weeks. Though other states have contemplated legalizing online poker, experts said the district would be the first jurisdiction in the country to do it.

The move to legalize the games comes despite a 2006 federal law that effectively banned Internet gambling. The law basically prohibited banks and credit card companies from processing payments from gambling companies to individuals. But the law is murky, and gambling experts say it created enough grey areas to open the door for a deeper expansion into the multibillion dollar industry.

“There was really no clear law that said we could not do this,” Brown said Wednesday.

D.C. hopes to tap those millions to help offset budget cuts and help social services programs, Brown said. Conservative estimates from D.C.’s chief financial officer indicate the district could bring in around $13 million to $14 million through fiscal year 2014, according to Brown’s office.

The gambling green light is no doubt good news to poker players, but D.C. would be authorized to offer other games of both skill and chance. It would be up to lottery officials to come up with regulations and decide which games to permit.

“Anytime you’re cutting budgets and you want to save some programs, you’re looking for different pieces from different pots and you hope that you get to the number that restores those budget shortfalls and that’s what we’re trying to do with this,” Brown said.

Full Story at Washington Post

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Senate Majority Leader Harry Reid’s proposal to legalize and tax online poker may become part of a spending package or other must-pass legislation before Congress adjourns for the year, the Washington Post reported.

Reid, a Nevada Democrat, decided against adding his measure to a compromise tax-cut package amid concerns it would undermine the tax bill’s prospects for passage, the newspaper said, citing unidentified lobbyists and congressional aides. [Read more →]

Tags:   Dave Camp · Harry Reid · Lamar Smith · Mitch McConnell · Spencer BachusNo Comments.

Many of the country’s largest casinos, long opposed to gambling games like poker on the Internet, are now having second thoughts.

Although online gambling is popular with millions of Americans, it is illegal in the United States, and the casino industry has considered it a threat.

But a trade group that represents major casinos like Harrah’s Entertainment, MGM Resorts and Wynn Resorts is working on a proposal that would ask Congress to legalize at least some form of online gambling, the group’s chief executive said.

The group, the American Gaming Association, issued a statement in the spring suggesting that online gambling could be properly regulated — the first public indication that its hard-line stance was softening.

The chief executive, Frank J. Fahrenkopf Jr., said in an interview by phone that the association had not settled on the details of its proposed legislation, including how the proceeds from Internet gambling would be taxed. “We have been working on something,” he said, “and continue to work on it.”

Gambling specialists said it was likely that any casino-supported legalization would be limited to Internet poker because it was considered the least threatening to brick-and-mortar casinos. Internet poker already had the backing of some in the casino industry, and was seen as a new and lucrative source of revenue for the casino companies. [Read more →]

Tags:   Barney Frank · Harrah’s Entertainment · MGM Resorts · Wynn ResortsNo Comments.

Getting money down on your favorite sports team is getting a little easier in Nevada with the first-ever legal wagering application for smart phones.

It won’t work in the U.S. outside the Silver State — the only place where sports gambling is legal — but its technology is sophisticated enough to let visitors from other states conveniently place bets while they’re here, even if they’re not inside a casino.

American Wagering Inc. is launching the program for BlackBerry devices in time for the start of college football and the NFL regular season. The public company, which operates nearly 60 Leroy’s Horse and Sports Place sports books throughout Nevada, plans to launch new apps for iPhones, Droids, and Windows-based phones soon. [Read more →]

Tags:   American Wagering Inc · blackberry · iphone · NevadaNo Comments.