In this iGaming News video update, more gambling news from the Garden State of New Jersey is discussed. Gov. Chris Christie's plans to proceed with sports betting, the constitutionality (or lack thereof) of "PASPA", as well as one legal expert's take on it all. An update on Full Tilt Poker and Raymond Bitar is given later in the segment.
New Jersey has not skipped a beat in their plans to offer sports wagering in Atlantic City casinos. Assembly Bill 269 has been pre-filed for introduction in the 2012 Session. The legislation permits in-person wagering at casinos “on the results of professional sports events” — however, this legislation is subject to amendment of federeral law. The Professional and Amateur Sports Protection Act continues to be a thorn in the side of New Jersey lawmakers, as it prohibits New Jersey, as well as forty-six other states from conducting sports wagers. This creates an unfair monopoly of “legal” sportsbook gambling, as Nevada is the primary beneficiary of PASPA: though the legislation also exempts Delaware, Montana, and Oregon. New Jersey Governor Chris Christie has been outspoken in his opposition of the federal law, vowing to proceed with sports betting and to take on the federal government in any resulting legal battle. New Jersey plans to challenge the constitutionality of PASPA if push comes to shove. US gaming law expert Professor I. Nelson Rose speculated that this could go any number of ways during an interview with SBR earlier this week. The Professor had the following to say on Governor Christie:
Professor I. Nelson Rose: “They could arrest him for racketeering, which is a really weird situation, where we’ve got a Governor openly saying he’s going to violate the federal criminal laws because of a different state statute that he thinks gives him the power to do that. Something’s going to happen in New Jersey. You could have a lawsuit filed by the NFL to try to prevent it from happening. You could have a lawsuit filed by the federal government. You could actually have arrests or criminal indictments, or it could just go open up and nobody does anything, in which case every other state’s going to look at it.”
Make sure to tune in Monday for part two of the interview with Professor Rose.
From a multi-million dollar estate to a six by eight foot cell — that’s the transition disgraced executive Raymond Bitar may be facing, as the former CEO of Full Tilt Poker is up against a federal indictment that could put him behind bars for 145 years if convicted on all counts. Bitar entered a not guilty plea in Manhattan federal court Monday afternoon. Bitar is accused of operating a ponzi scheme in a scathing 36-page indictment that details how he and co-defendant Nelson Burtnick conspired to create phony companies to avoid being recognized as a gambling merchant by US financial instutitions. The Unlawful Internet Gambling Enforcement Act of 2006 tasks US banks with recognizing and blocking internet gambling transactions. The UIGEA makes it a federal crime for gambling businesses to accept payment from US residents. Full Tilt Poker allegedly took in an estimated $1 billion from US residents through April 15th, 2011: the day now dubbed “Black Friday” in the online poker world. Meanwhile, players are still owed millions of dollars and are hopeful that poker site “Poker Stars” will act as the White Knight and acquire what’s left of Full Tilt Poker. Any acquisition however would not take place until the outcome of the federal criminal proceedings. We will keep you up to date with any developments as and when they happen.
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