Nevada legalized online gambling

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  • MUHerd37
    SBR Posting Legend
    • 10-23-09
    • 12816

    #1
    Nevada legalized online gambling
    Gov. Brian Sandoval signed legislation Thursday legalizing online gambling in Nevada, capping a dizzying day at the Legislature as lawmakers passed the bill through the Assembly and Senate as an emergency ...


    CARSON CITY, Nev. (AP) -- Gov. Brian Sandoval signed legislation Thursday legalizing online gambling in Nevada, capping a dizzying day at the Legislature as lawmakers passed the bill through the Assembly and Senate as an emergency measure.
    Nevada wanted to beat New Jersey, its East Coast casino rival, to the online gambling punch. New Jersey Gov. Chris Christie previously vetoed an online wagering bill but has indicated he may sign an amended version next week.
    Sandoval and Nevada legislative leaders said it was important for Nevada to remain at the forefront of gambling regulation.
    "This is an historic day for the great state of Nevada," Sandoval said, flanked by dozens of state lawmakers. "Today I sign into law the framework that will usher in the next frontier of gaming in Nevada."
    Sandoval, a former chairman of the Nevada Gaming Commission added, "This bill is critical to our state's economy and ensures that we will continue to be the gold standard for gaming regulation."
    He praised legislators for their swift action and commended Assembly Majority Leader William Horne, a Democrat from Las Vegas, for shepherding the bill.
    Horne, in turn, had equal accolades for the Republican governor.
    "This was a lot of work and it couldn't have been done without the governor's leadership and vision," he said.
    Horne couldn't resist at jab at Nevada's gambling rivals.
    "As to our competitor, New Jersey, they should be accustomed to following Nevada," he said.
    AG Burnett, chairman of the Nevada Gaming Control Board, said the state already has about 20 applications from various operators, equipment and software vendors to be licensed for online gambling.
    AB114 authorizes Nevada to enter into compacts with other states to offer Internet poker. It sailed through both the Assembly and Senate on Thursday after a joint hearing before the two judiciary committees.
    Gambling regulators will now come up with regulations dictating compact parameters.
    Lawmakers in 2011 passed a bill that put Nevada in position to legalize Internet gambling if the federal government sanctioned it. But when those efforts failed in Congress, Sandoval said Nevada would work toward agreements with other states.
    Several other states began looking into online gambling after the Department of Justice issued a letter in 2011 stating that the federal Wire Act of 1961, often used to crack down on gambling over the Internet, only applies to sports betting.
    Partnering with other states gives Nevada an expanded customer market and provides other states with Nevada's expertise in gambling regulation.
    Pete Ernaut, a lobbyist representing the Nevada Resort Association, said expanding the customer base was key.
    "It's imperative for the success of this that we compact with other states because we don't have a universe of players," Ernaut said.
    The benefit for other states, he said, is Nevada's "most mature regulatory infrastructure."
    "We have the most mature financial, auditing and collection capabilities, much greater than some of those states, and they have the players," he said.
    The bill approved Thursday resolved a disagreement between Horne and the governor's office over licensing fees. Sandoval had pushed for companies that want to offer online gambling to pay a $500,000 fee, while Horne, in the original bill draft, proposed $1 million.
    Under a compromise, the fee was set at $500,000, though it gives the Nevada Gaming Commission authority to change the amount. A renewal fee was set at $250,000.
    ___
    Associated Press writer Hanna Dreier in Las Vegas contributed to this report.
  • MUHerd37
    SBR Posting Legend
    • 10-23-09
    • 12816

    #2
    Now we seem to be getting somewhere.
    Comment
    • patswin
      SBR MVP
      • 09-05-06
      • 1794

      #3
      be careful what you wish for
      wait and see how much old uncle sam wants for their end
      Comment
      • SamDiamond
        SBR Hall of Famer
        • 10-19-12
        • 6107

        #4
        Competition, competition, competition.

        It's a good thing.
        Comment
        • Killer_Demo
          SBR Hall of Famer
          • 06-15-08
          • 8409

          #5
          Nice...
          Comment
          • ThaWoj
            SBR Hall of Famer
            • 03-09-10
            • 6773

            #6
            Yeah uncle sam for sure but we might finally get some legit regulated poker where we dont have to send a p2p to 4 last names that we cant pronounce
            Comment
            • seaborneq
              SBR Posting Legend
              • 09-08-06
              • 22556

              #7
              Not good for the offshore books. It might be time to pull your money offshore
              Comment
              • sweethook
                SBR Posting Legend
                • 11-21-07
                • 12667

                #8
                this is good and BAD
                Comment
                • tofuman
                  SBR Wise Guy
                  • 01-11-10
                  • 887

                  #9
                  *waiting for matchbook to come back to the states
                  local forum troll
                  Comment
                  • DwightShrute
                    SBR Aristocracy
                    • 01-17-09
                    • 101253

                    #10
                    Originally posted by seaborneq
                    Not good for the offshore books. It might be time to pull your money offshore
                    why?
                    Comment
                    • Sawyer
                      SBR Hall of Famer
                      • 06-01-09
                      • 7792

                      #11
                      So pinnacle is legal now in Vegas??

                      Well, if Betfair&Pinnacle are on now, that's a good bonus for books. They will be able to sell their risk at Betfair and Pinnacle.
                      Comment
                      • MUHerd37
                        SBR Posting Legend
                        • 10-23-09
                        • 12816

                        #12
                        Originally posted by Sawyer
                        So pinnacle is legal now in Vegas??

                        Well, if Betfair&Pinnacle are on now, that's a good bonus for books. They will be able to sell their risk at Betfair and Pinnacle.
                        Sports betting is still illegal because of the wire act. Also, for legal gambling, other states would have to make agreements with states like Nevada and New Jersey (when they pass it) to allow their residents gamble online.
                        Comment
                        • hugh613
                          SBR Sharp
                          • 11-25-12
                          • 299

                          #13
                          Originally posted by Sawyer
                          So pinnacle is legal now in Vegas??

                          Well, if Betfair&Pinnacle are on now, that's a good bonus for books. They will be able to sell their risk at Betfair and Pinnacle.
                          Maybe I'm misinterpreting the article, but my guess is the Nevada based sportsbooks would have the inside track on internet gaming licences within the state of Nevada. I don't think it means Pinnacle and bet365 are making a return to the US market, unless they partner up with existing casinos and/or the gaming commission in Nevada.

                          Plus access to those sites would probably be restricted to residents of Nevada and/or states who partner up - it would still be illegal to access the sites if you lived in a non-sanctioned state.
                          Comment
                          • DwightShrute
                            SBR Aristocracy
                            • 01-17-09
                            • 101253

                            #14
                            Originally posted by MUHerd37
                            Sports betting is still illegal because of the wire act. Also, for legal gambling, other states would have to make agreements with states like Nevada and New Jersey (when they pass it) to allow their residents gamble online.
                            that's the key isn't it? Right now (unless I read more or I missed it) this seems like a service offered to those living in Nevada. Right?

                            someone from Florida wouldn't be able to get an account would they?
                            Comment
                            • Trident
                              SBR MVP
                              • 02-07-09
                              • 2362

                              #15
                              AB114 authorizes Nevada to enter into compacts with other states to offer Internet poker.
                              According to this it is for Poker only, then only if other states legalize online Poker and then enter into a compact with Nevada, this isn't going to happen overnight or anytime soon.
                              Comment
                              • Sledge187
                                SBR MVP
                                • 04-25-08
                                • 3722

                                #16
                                Just to be clear this is for Poker only and not sports betting?
                                Comment
                                • Vegas39
                                  BARRELED IN @ SBR!
                                  • 09-22-11
                                  • 30686

                                  #17
                                  Originally posted by Sledge187
                                  Just to be clear this is for Poker only and not sports betting?
                                  yes just for poker
                                  Comment
                                  • poker6469
                                    SBR Sharp
                                    • 02-13-12
                                    • 454

                                    #18
                                    You can already bet online in nevada

                                    You can already sports bet online in nevada threw cox cable cantor ,mobile sports betting on cell phone ,sports connection on cell phone or on home computer,or tablet,william hill will be having the same as the rest.
                                    Comment
                                    • MUHerd37
                                      SBR Posting Legend
                                      • 10-23-09
                                      • 12816

                                      #19
                                      Originally posted by poker6469
                                      You can already sports bet online in nevada threw cox cable cantor ,mobile sports betting on cell phone ,sports connection on cell phone or on home computer,or tablet,william hill will be having the same as the rest.
                                      Yeah if you are in Nevada
                                      Comment
                                      • sweethook
                                        SBR Posting Legend
                                        • 11-21-07
                                        • 12667

                                        #20
                                        Originally posted by poker6469
                                        You can already sports bet online in nevada threw cox cable cantor ,mobile sports betting on cell phone ,sports connection on cell phone or on home computer,or tablet,william hill will be having the same as the rest.
                                        this . . .
                                        Comment
                                        • itduzz
                                          SBR Rookie
                                          • 04-08-11
                                          • 19

                                          #21
                                          Does this mean bet365 will allow people from Nevada to bet on sports ?
                                          Comment
                                          • DwightShrute
                                            SBR Aristocracy
                                            • 01-17-09
                                            • 101253

                                            #22
                                            Originally posted by itduzz
                                            Does this mean bet365 will allow people from Nevada to bet on sports ?
                                            no. this a poker thing only. About a year ago they asked the feds on a clear definition of what they can do as far as online gaming goes. The feds said that poker isn't the same a sports betting. Sports (for the time being) is not allowed still. Just poker.

                                            Since this is for Nevada only for now. My guess is they will try and get other states to allow them to play poker on their site. Of course some states will say no and some will perhaps create their own online site.
                                            Comment
                                            • touchback
                                              SBR MVP
                                              • 02-08-12
                                              • 1227

                                              #23
                                              This definitely effecting online gaming stocks... been watching ZYNGA move around a bit. Any you guys in the market take a look at it, make some real money instead of on point spreads...
                                              Comment
                                              • yisman
                                                SBR Aristocracy
                                                • 09-01-08
                                                • 75682

                                                #24
                                                not sure what they did that changes anything. A lot of the casinos out there already had mobile betting anyway.
                                                [quote=jjgold;5683305]I win again like usual
                                                [/quote]

                                                [quote=Whippit;7921056]miami won't lose a single eastern conference game through end of season[/quote]
                                                Comment
                                                • MUHerd37
                                                  SBR Posting Legend
                                                  • 10-23-09
                                                  • 12816

                                                  #25
                                                  Originally posted by touchback
                                                  This definitely effecting online gaming stocks... been watching ZYNGA move around a bit. Any you guys in the market take a look at it, make some real money instead of on point spreads...
                                                  There was a story I saw online about how these companies are about to really go after the gambling market. May have been in the New York Times.
                                                  Comment
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