Online Gaming

The future may not be in paradise. Here is an interesting article from today's London Evening Stndard:-


THE Isle of Man was set today to announce the winners of its first three international online gambling licences - and nine more are on the way. British firm Littlewoods Leisure is thought to be among the three first past the post, the other two being Sun International Hotels of the Bahamas and the Las Vegas based MGM Mirage.


The tax haven in the Irish Sea has had a 'rush' of applications from casino and gaming operators, causing Minister for Home Affairs Allan Bell to seek approval from the Tynwald for additional licences next month because he believes many of the applicants to be sufficiently reputable. The first of the nine extra licences could be announced in November.


The Isle of Man, population 75,000, is keen to be a centre of online gambling, which it sees as a fast-growing business with global potential, at a time when the UK is under pressure from the high-tax members of the European Union to crack down on existing and legal offshore business.


The islanders are presenting themselves as offering 'fair and competitive' tax breaks to the gambling companies and 'tough' regulation to protect online customers and guard against money-laundering.

N/T

How is this regulation any different from the current regulation, say in Antiqua?

Regulation - good

Cost to the consumer (you and I) - worth it?


Any regulations on online gaming will only cost us more money. If the cost (rake, fees, etc...) go up on I-net gaming, we may not keep playing. Face it, a few of us are playing to win, not to gamble. If the cost to play gets higher, most games can not be beat and many will stop playing. I think that this can be debated either way, but at this time I think that many regulations may make it tough. besides is there a need? Are we (the consumer) getting burned? This is not based on any research or study, just what I consider common sense. Comments welcome. Thanx!

I don't know if you're right here. I'm not sure what the overhead is, but it seems to me that Paradise makes at least $80mill a year in rake. I don't think that it would be difficult for a regulated site to have the same rake structure and still be worth it for the operators.

I've lost $56K when a poker site closed. Yeah, I think someone should be watching them. It could happen again. Just have a large site close and everyone lose their money. There will be no internet poker then.


MS Sunshine

why the hell would u have 56k at any online site..u are crazy!

Now when you say 56k... you mean your modem right?


index

I never could imagine anyone keeping that much in an online site, after all isn't 20-40 the biggest game usually? Taking a 500 BB bankroll means 20k. Seems rather unlikely...


As for the Isle of Man, they are strongly regulated, but for most of us this will not be good. They are going to require the books to only offer gaming only where specifically legal and that means no US players. That is part of the reason why MGM Mirage and Park Place were willing to apply here, they have to keep US players off any site they have anywhere in the world or risk losing their licenses. They are intending on having a gaming regulation very similar to Nevada and that is also what appeals to the big names of gaming. Meaning its supposed to be independent of government oversight, making its only rules free from political pressure. Anyone believe that is possible in Antigua?

It was all won on the site. I had pending cash outs from week one. Played on assuming they would get their act together. They had a very good line of bullshit. It was pointed out on this forum, that it was bullshit by several posters. I choose to ignore those warnings.


I was also led to believe money at PP was not safe. Due to the pending strike by the Pan-American Strike Force, which surprisingly never came about.


MS Sunshine