Bet From Anywhere Blog

Legalized online gambling in Ontario could mean a $500 million annual windfall to the cash-strapped provincial government, Liberal sources say.

But Progressive Conservative Leader Tim Hudak warns Ontario taxpayers should be leery if Premier Dalton McGuinty bets on Internet gaming here.

As the Star disclosed on Saturday, McGuinty’s administration, which is wrestling with a $19.7 billion budget deficit, is “exploring” the possibility of expanding the gambling industry.
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Tags:   Dalton McGuinty · Ontario · PlayNow · Tim HudakNo Comments.

A movement to legalize online poker and other forms of non-sports betting cleared a major hurdle when a key bill passed the House Financial Services Committee July 28.

But final passage of the measure is still being viewed on Capitol Hill as a crap shoot at best. “This is, by no means, a sure thing,” said a senior staffer on the financial services committee. “In fact, I’d call it a long shot.”

That’s because the window to get anything passed is quickly closing. Congress is set to take a seven-week recess, leaving a two-week window in late September before the session breaks again prior to mid-term elections. And then there is the looming possibility of a lame duck session which, which according to the Financial Services Committee staffer, does not bode well for passage of anything.
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Tags:   Barney Frank · HR 2267 · HR 4976 · Jim McDermott · Robert Menendez · Spencer BachusNo Comments.

Two of the biggest European operators of Internet betting sites, PartyGaming and Bwin Interactive Entertainment, said Thursday that they planned to merge, forming the world’s largest publicly traded online gambling company.

The deal comes at a time when a number of governments both in Europe and the United States are relaxing the rules on online gambling, hoping to tax the activity and use the revenue to reduce gaping budget shortfalls.

“We will immediately be a leader in these markets as they open up,” the chief executive of PartyGaming, Jim Ryan, said Thursday during a conference call. [Read more →]

Tags:   Bwin Interactive Entertainment · Jim Ryan · partygamingNo Comments.

With pressure mounting on the federal government to find new revenues, Congress is considering legalizing, and taxing, an activity it banned just four years ago: Internet gambling.

On Wednesday, the House Financial Services Committee approved a bill that would effectively legalize online poker and other nonsports betting, overturning a 2006 federal ban that critics say merely drove Web-based casinos offshore.

The bill would direct the Treasury Department to license and regulate Internet gambling operations, while a companion measure, pending before another committee, would allow the Internal Revenue Service to tax such businesses. Winnings by individuals would also be taxed, as regular gambling winnings are now. The taxes could yield as much as $42 billion for the government over 10 years, supporters said. [Read more →]

Tags:   Barney Frank · Brad Sherman · internet gambling · Jim McDermott · Spencer BachusNo Comments.

As we reported yesterday, Virgin is launching a new online tournament gaming service, Virgin Gaming, which lets joystick enthusiasts play popular titles like “Halo 3″ and “Madden NFL 10″ for cash and prizes on multiplayer services such as PlayStation Network and Xbox Live.

Now, it’s been announced that more than $1 million in prize money will be given away in the next year, courtesy of the firm, a joint venture between Branson and Canadian startup WorldGaming.com.

“The video game market is extremely competitive and overcrowded, but we see a big opportunity,” Branson told Game Industry TV, explaining his decision to enter the skill-based gaming business rather than publish software for PC, console or mobile platforms.

Tags:   playstation · Playstation Network · video game tournaments · video games · virgin gaming · XBOX LiveNo Comments.