..

Online Gambling News Live Blog; Nevada Would Benefit big from Legal Online Gambling

Written by:
Guest
Published on:
Mar/26/2011

These are the latest developments in the world of online gambling with news 24/7 from the worldwide leader in gambling news for nearly 11 years now, Gambling911.com.  Be sure to check out all the latest stories related to the gambling industry including latest odds on sports events, entertainment props, political odds, poker tournaments, player scandals, crime and more.

The live blog is available here so please bookmark it

 

March 25, 2011 6:51 pm ET:  An economist tells the Associated Press that the state of Nevada would benefit financially from legalized online gambling, specifically Web poker.  A number of Las Vegas casinos have called a bill being backed by the world’s largest Internet poker room, PokerStars, premature.  

AB258 is being backed by Wynn Resorts after announcing a strategic alliance with PokerStars on Thursday

The economist said that Nevada stands to gain millions in tax revenue if it regulates and develops the multibillion-dollar online poker industry.

From The Associated Press:

Economist Jeremy Aguero estimated the state could collect between $2 million and $3.4 million in taxes annually if online poker is legalized in Nevada, and up to $65 million if it captured a quarter of the international market.

The economic possibilities go beyond tax revenue, Aguero said. If the state sets up a structure requiring licensed online poker operators to be headquartered in Nevada, an estimated 1,200 direct jobs and $77 million in direct wages could result.

In another scenario, Nevada could require all online poker operators to make a minimum capital investment in Nevada, Aguero said. That projection shows 3,400 direct new jobs, $200 million in direct wages and about $1.3 billion in total economic activity.

 

March 25, 2011 6:40 pm ET:  Poker Players Alliance suddenly does an about face and backs the Nevada State online gambling bill.  The reason:  Probably because PokerStars, which is lobbying for the bill (AB258) is one of the PPA’s biggest (paying) members and – well – they probably don’t have much of a choice.   

Up until Thursday, the PPA pledged only to support federal legislation that was introduced two weeks ago.

A lawyer representing the Poker Players Alliance said the Department of Justice has issued a press release condemning online poker, but is ambiguous in the law and would likely not prosecute Nevada for developing the gambling rules.

Gambling News

NHL Begins Probe of Sharks Evander Kane Allegations: Bet on Own Games

NHL Begins Probe of Sharks Evander Kane Allegations: Bet on Own Games

Dan Lust via Twitter reports that the NHL announced a full investigation into allegations that Evander Kane of the San Jose Sharks has been betting on his own games with bookies.

2021 NBA Futures Shift, Lakers Now Favored to Win With Westbrook Trade

2021 NBA Futures Shift, Lakers Now Favored to Win With Westbrook Trade

The draft day trade between the Lakers and Wizards that sent Russell Westbrook to L.A. has shaken up the odds board.

Dave Portnoy Big Underdog to Brooks Koepka in Golf Match

Dave Portnoy Big Underdog to Brooks Koepka in Golf Match

Barstool founder Dave Portnoy and major champion golfer Brooks Koepka will compete in a charity golf match on September 7, and according to Vegas, El Presidente will walk away as the loser.

2021 World Series Odds Shift Following Trading Deadline Frenzy

2021 World Series Odds Shift Following Trading Deadline Frenzy

The Dodgers have been World Series favorites the entire season, and their odds got even better following yesterday's trade for Max Scherzer and Trae Turner.

Nevada Casinos See Robust June Ahead of New Mask Mandates

Nevada Casinos See Robust June Ahead of New Mask Mandates

Nevada casinos rode a robust economic rebound from coronavirus restrictions in June, taking in more than $1 billion in winnings for the fourth straight month and nearly reaching the all-time record set a month earlier, state regulators reported Thursday.

Syndicate