Richard McGowan S.J. Boston College. John F. Mahon University of Maine
|
|
- Natalie Berry
- 8 years ago
- Views:
Transcription
1 Richard McGowan S.J. Boston College John F. Mahon University of Maine
2 1995 first gambling sites emerged. These were primarily free sites sites that let players make deposits with credit cards and wire transfers emerged. Many of the first IG sites were sports books.
3 Year Number of IG Sites Present 2640 The 2640 sites are governed by 74 different jurisdictions.
4 No clear legislation exists in many countries. Explicit Prohibition of IG (U.S.) Complete Legalization and Toleration Restrictions on IG
5 Revenue is the main issue for government. Need to achieve a delicate balance between addressing the government s revenue needs and the social costs that go along with more gambling freedom.
6 Federal Wire Act (1961) Knowingly (using) a wire communication facility for the transmission in interstate and foreign commerce of bets or wagers or information assisting in the placing of bets or wagers on any sporting event or contest, or for the transmission of a wire communication which entitles the recipient to receive money or credit as a result of bets or wagers.
7 This act makes it illegal for all financial transaction providers to make fund transfers to internet gambling sites. U.S. players bypass the UIGEA by using non U.S. financial intermediaries.
8 It is nearly impossible to ensure the prohibition of IG. Very difficult to prevent individual access. Hard to prosecute sites that provide legal services in their jurisdiction.
9 Operator Integrity Concerns Player Integrity Concerns Compulsive Gamblers Minors IG sites enable criminals to launder money. Legal IG will negatively impact the revenues earned from other forms of gambling.
10 Internet Gambling s negative impact is outweighed by the benefits of industry regulation and tax revenue. Since it is impossible to successfully enforce the prohibition of IG, government should profit from it.
11 Illustrate how internet gambling revenue fluctuates over time. Quantify the substitution effect between internet gambling and land based gambling revenue. Forecast future internet gambling revenue. Estimate potential tax revenue for legalization in the United States. Show that it is impractical to legalize internet gambling without internet sports betting. Demonstrate that intrastate legalization of internet gambling is inefficient.
12 H2 Gambling Capital s egaming Bulletin Yearly data on internet gambling revenue by game type and player nationality from 2003 to Gross Gaming Yield by region and by gaming type (land/interactive) in each region from 2oo3 to Quarterly data on world internet gambling revenue (by game type) from 2003Q1 to 2011Q2.
13 Panel data for the G20 (minus the European Union and Saudi Arabia) from 2003 to t=8 n=18 Methodology: Fixed Effects
14 Perform the within transformation to remove the mean values of each individual panel unit. Explanatory power is derived from the comovements of y around its individual with x around its individual mean. It does not matter if a unit has consistently high or low values of y and x. It just matters how the variations around those means are correlated.
15 We used a panel data set of internet and land based gambling revenue. Regional Data Data was from 2003 to 2010 Hypothesis: As more people gamble on the internet (internet gambling revenue increases) more people will become attracted to gambling. Thus, an increase in the prevalence of internet gambling will cause land gambling revenue to increase. Methodology: Seemingly Unrelated Regression
16 When estimating a similar specification for a number of different units, we may want to estimate them jointly. We gain efficiency by allowing the error terms across equations to be contemporaneously correlated. If the errors are independent, there is no gain over equation by equation OLS. The higher the cross-equation contemporaneous correlations of the residuals the greater the efficiency gain. If the regressors in each equation are highly correlated across equations the efficiency gain is reduced.
17
18
19
20 We used quarterly observations from 2003Q1 to 20011Q2 to forecast future IG revenues. We ran both exponential smoothing and ARIMA models to forecast future revenue for each facet of the internet gambling industry. In each case we chose the model with the lowest RMSE.
21 Winters Additive Exponential Smoothing Model R-Squared=.900 RMSE= MAPE= 5.492
22 Winters Multiplicative Exponential Smoothing Model R-Squared=.758 RMSE= MAPE= 8.500
23 ARIMA (0,1,0)(1,0,1) R-Squared=.844 RMSE= MAPE= 8.291
24 ARIMA (0,1,0)(1,0,1) R-Squared=.940 RMSE= MAPE= 7.943
25 ARIMA (0,1,0)(1,0,1) R-Squared=.960 RMSE= MAPE= 7.197
26 Year Sports Casino Poker Skill Bingo Total 2011 (Q3, Q4) 4, , , , , , , , , , , , , , , , , , , , , , , , , , , ,628.96
27 Year Sports Casino Poker Bingo Total % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % %
28 Pre UIGEA UP.05 Up.10 US Market Share 28% 33% 38% Million Million Million 2011 (Q3,Q4) 2, , , , , , , , , , , , , , ,739.00
29 Pre UIGEA UP.05 Up.10 U.S. Market Share 28% 33% 38% Govt Tax Revenue (M ) 15% Tax 15% Tax 15% Tax 2011 (Q3,Q4) , , , , , , , , , ,460.85
30 John Campbell s proposed Internet Gambling Regulation, Consumer Protection, and Enforcement Act attempts to legalize and regulate internet gambling federally. However, the provisions of this bill prohibit the legalization of sports betting.
31 Year % of US IG Rev % Global IG Rev % 63.50% % 55.60% % 51.85% % 50.04% % 51.77% % 52.15% % 49.33% % 49.10%
32 Year Non SB Share % % % % % % % %
33 Market Share 40% 45% 2011 (Q3,Q4) 2, , , , , , , , , ,881.88
34 Non SB IG Mkt. Share 40% 45% Tax Rate 15% 15% 2011 (Q3,Q4)
35 Assume total IG market share with SB will jump up to 38%. Assume IG market share without SB will jump to 45% (Q3, Q4)
36 UIGEA does not prohibit intrastate internet gambling. Ensuring that both the players and the operators of an online gambling site remain within the borders of a single state enables states to circumvent the Wire Act of In March 2011, New Jersey Governor Chris Christie vetoed a bill that would have made New Jersey the first state to legalize intrastate online gambling.
37 Caesars Entertainment is against this state by state legalization approach because it believes that this approach will lead to market inefficiencies that will prevent them from maximizing profits upon its entrance to the online realm
38 New Jersey State Senator Raymond Lesniak estimates that intrastate legalization would only generate $30 million in yearly tax revenue. This estimate does not include legal sports betting as included in the NJ bill vetoed by Chris Christie. In 2010 New Jersey GDP was 3.42% of national GDP. Therefore, we may assume that NJ would collect 3.42% of national internet gambling tax revenue.
39 Assuming NJ s fraction of GDP remains constant, I forecasted NJ s share of IG (without Sports betting) tax revenue. Year NJ Tax Revenue (Mil ) Currency Conversion FX Rate: 1 Euro= 1.25 Dollars
40 After conservatively controlling for the exchange rate, NJ s share of IG tax revenue is greater than Lesniak s $30m estimate in each year. Additionally, we may assume that Lesniak s future cash flow projections are biased upward because he is lobbying to get the New Jersey Intrastate Bill passed. Thus, the inefficiency could be of a larger magnitude.
41 Legalizing internet gambling is revenue opportunity that the federal government should capitalize on. The government will forgo significant amounts of tax revenue by legalizing IG without sports betting. Is this lower level of revenue worth the social costs? The substitution effect is positive and not negative in the U.S. market. This bodes well for other gambling tax revenues. Legalizing IG on an intrastate basis is inefficient. The social costs of legalizing internet gambling are definitely real. However, we have no way to quantify them and weigh them against the revenue benefits.
The Regulation of Online Gaming Across Jurisdictions: Success, Standards and Stability
The Regulation of Online Gaming Across Jurisdictions: Success, Standards and Stability P E T E R N E L S O N B E M I D J I S T A T E U N I V E R S I T Y Introduction 2005- fifteen to twenty million online
More informationOnline Gambling: The Geolocated Road Ahead
Portfolio Media. Inc. 860 Broadway, 6th Floor New York, NY 10003 www.law360.com Phone: +1 646 783 7100 Fax: +1 646 783 7161 customerservice@law360.com Online Gambling: The Geolocated Road Ahead Roxanne
More informationAuthorizing Online Poker in California L E G I S L A T I V E A N A L Y S T S O F F I C E
April 23, 2014 Authorizing Online Poker in California L E G I S L A T I V E A N A L Y S T S O F F I C E Presented to: Assembly Governmental Organization Committee Hon. Isadore Hall III, Chair Federal Law
More informationAugust 31, 2005 Phone: (303) 866-5632 / (303) 205-1334. DENVER Colorado Attorney General John Suthers and Colorado Limited Gaming Control
NEWS RELEASE Colorado Department of Law Attorney General s Office Colorado Department of Revenue Limited Gaming Control Commission 1525 Sherman Street, 7th Floor, Denver, CO 80203 1881 Pierce St., Ste.
More informationThe Wire Act, UIGEA & PASPA Wire Act
R. Douglas Sherman, Chief Counsel Cyrus Pitre, Chief Enforcement Counsel PA Gaming Control Board Senate Hearing: Community, Economic, Recreational Development Committee June 17, 2015 Good morning, Chairman
More informationUnlawful Internet Gambling Enforcement Act (UIGEA) Compliance Deadline: December 1, 2009
Unlawful Internet Gambling Enforcement Act (UIGEA) Compliance Deadline: December 1, 2009 The UIGEA, signed into law in 2006, was intended to restrict unlawful wagering via Internet gambling sites by individuals
More informationPOLICY FRAMEWORK FOR THE REGULATION OF INTERNET GAMBLING
POLICY FRAMEWORK FOR THE REGULATION OF INTERNET GAMBLING Adopted by the NCLGS Executive Committee on January 10, 2015. Recognizing both the threats and opportunities posed by new technologies and Internet
More informationH. R. 6663 IN THE HOUSE OF REPRESENTATIVES
I 0TH CONGRESS D SESSION H. R. To amend title 1, United States Code, to provide additional clarification with regard to the implementation of the Unlawful Internet Gambling Enforcement Act of 00, and for
More informationDepartment of Legislative Services 2012 Session
House Bill 7 Ways and Means Department of Legislative Services 2012 Session FISCAL AND POLICY NOTE Revised (Delegate Olszewski) HB 7 Judicial Proceedings Criminal Law - Betting, Wagering, and Gambling
More informationOnline Gambling and Money Laundering
Online Gambling and Money Laundering S&D Seminar on Online Gambling European Parliament 14th November 2012 Dr. Ingo Fiedler The European Market for Online Gambling 3,3 Revenues 2011,Total: 10 billion US$
More informationState of New Jersey. January 2, 2015. RE: New Jersey Internet Gaming One Year Anniversary Achievements to Date and Goals for the Future
Chris Christie Governor Kim Guadagno Lt. Governor State of New Jersey Office of the Attorney General Department of Law and Public Safety Division of Gaming Enforcement 1300 Atlantic Avenue Atlantic City,
More informationCurrently, online gambling is legal in approximately
Internet Gambling in New Jersey It s in the Cards for New Jersey s Gaming Industry by Eric G. Fikry, Stephen D. Schrier and Dennis M.P. Ehling Currently, online gambling is legal in approximately 85 countries,
More information1/ The opening of the French market for online games. Chaire Sorbonne-ICSS
1 1/ The opening of the French market for online games The objectives of the law on online games 2 To reduce the share of illegal gambling and regulate a market actually opened. To better protect consumers
More informationMGT 267 PROJECT. Forecasting the United States Retail Sales of the Pharmacies and Drug Stores. Done by: Shunwei Wang & Mohammad Zainal
MGT 267 PROJECT Forecasting the United States Retail Sales of the Pharmacies and Drug Stores Done by: Shunwei Wang & Mohammad Zainal Dec. 2002 The retail sale (Million) ABSTRACT The present study aims
More informationTuesday 17 November 2015. The Honourable Barry O Farrell Chair Review of the Impact of Illegal Offshore Wagering. Dear Mr O Farrell,
Tuesday 17 November 2015 The Honourable Barry O Farrell Chair Review of the Impact of Illegal Offshore Wagering Dear Mr O Farrell, The Digital Industry Group Incorporated (DIGI) welcomes the opportunity
More informationONLINE GAMING A Comparison of U.S. and Canadian Law Governing Online Gaming. April 17, 2009. Danielle Bush
ONLINE GAMING A Comparison of U.S. and Canadian Law Governing Online Gaming April 17, 2009 Danielle Bush OVERVIEW OF PRESENTATION A. Review of American gaming law B. Review of Canadian gaming law C. Comparison
More informationOnline Gambling as a Game Chager to Money Laundering
Online Gambling as a Game Chager to Money Laundering 29th November 2012 Dr Ingo Fiedler 1 Introduction Money laundering is the process by which criminals attempt to conceal or disguise the nature, location,
More informationThe Regulation of Online Gaming Across Jurisdictions: Success, Standards and Stability
P a g e 1 The Regulation of Online Gaming Across Jurisdictions: Success, Standards and Stability Peter Nelson Bemidji State University Political Science Senior Thesis Bemidji State University Dr. Patrick
More informationHow To Get Online Gambling Legal In The United States
Is legalized online gambling in North America inevitable? An Australian perspective Sally Gainsbury (nee Monaghan) April 14 th, 2010 Discovery Conference Toronto, Ontario Current Internet gambling: 2,258
More informationINTERNET GAMING MRS. AMINA MAKNOON DIRECTOR OF LEGAL SERVICES BETTING GAMING AND LOTTERIES COMMISSION
INTERNET GAMING MRS. AMINA MAKNOON DIRECTOR OF LEGAL SERVICES BETTING GAMING AND LOTTERIES COMMISSION What is Internet Gaming? The term internet gaming is often used interchangeably with internet or online
More informationGambling and the Law : Are Daily Fantasy Sports Legal?
Copyright 2015, all rights reserved worldwide. Gambling and the Law is a registered trademark of Professor I Nelson Rose, www.gamblingandthelaw.com. Published in Gaming Law Review and Economics, Vol. 19,
More informationFunding Problem Gambling Services: Examples from Across U.S. States 1
Funding Problem Gambling Services: Examples from Across U.S. States 1 Massachusetts: Funding Source: Gaming tax on casinos; 5% of gross gaming taxes collected by state goes to Public Health Fund. The Gaming
More informationFiscal and Economic Benefits of Legalizing Internet Poker in California
Fiscal and Economic Benefits of Legalizing Internet Poker in California Summary We estimate that legalizing internet intrastate poker in California as proposed by SB 51 and SB 678 would result in additional
More informationPopular Name. Ballot Title AN AMENDMENT TO THE ARKANSAS CONSTITUTION:
Popular Name AN AMENDMENT TO ALLOW ARKANSAS HOTELS AND ENTERTAINMENT, INC. TO OWN AND OPERATE SEVEN CASINO GAMING ESTABLISHMENTS, ONE EACH IN SEBASTIAN, PULASKI, GARLAND, MILLER, CRITTENDEN, BOONE AND
More informationThe Danish Gambling Authority. The liberalisation of the Danish gambling market. 29. nov. 2012
The Danish Gambling Authority The liberalisation of the Danish gambling market 1 The Danish Gambling Legislation The Act on Gambling (Danish Gambling Authority) The Act on Duty on Gambling (Ministry of
More informationJackpot! Money Laundering Through Online Gambling
Jackpot! Money Laundering Through Online Gambling McAfee Labs Executive Summary Jackpot! Money Laundering Through Online Gambling McAfee Labs Executive Summary 1 Introduction Jackpot! Money Laundering
More informationPublication. Who Will Regulate I-Gaming in the U.S., State Gaming Commissions or State Lotteries?
Publication Who Will Regulate I-Gaming in the U.S., State Gaming Commissions or State Lotteries? This Decision May Determine who Benefits Economically and How Much They Benefit, and Will Affect the Competitive
More informationEGR Compliance Database Ireland Provided by: A&L Goodbody
Joe Kelly Partner jkelly@algoodbody.com +353 1 649 2429 EGR Compliance Database Ireland Provided by: A&L Goodbody The information contained in this questionnaire is for informational purposes only. Each
More informationOnline Gambling as a Game Changer to Money Laundering?
Online Gambling as a Game Changer to Money Laundering? Ingo Fiedler 300413 1 Introduction $16 billion criminal proceedings are transferred yearly into the legal system by money laundering (UNODC 2011)
More informationHow To Regulate Sports Betting In India
REPRESENTATION Regulating Sports Betting in India- A vice to be tamed? BACKGROUND Media and courts have raised many issues related to controlling vs. allowing sports betting but it seems to be daunting
More informationE-print from Paybefore Magazine Fall 2012. Make Sure Your Virtual Currency Doesn t Enter Illegal Gambling Territory
Make Sure Your Virtual Currency Doesn t Enter Illegal Gambling Territory Just because you don t enable cash-outs doesn t mean your virtual currency is compliant with gambling statutes. VIEWPOINT By James
More informationPRESENTATION Q1 2015. Q1 2015 First quarter revenues grew 24%
PRESENTATION Q1 2015 Q1 2015 First quarter revenues grew 24% Q1 2015 HIGHLIGHTS Revenue +24% ATH Operating income +39% Operating margin 28% Gross turnover, Sportsbook +60% ATH Deposits +43% ATH PRESENTATION
More informationCRS Report for Congress
Order Code RS21984 Updated November 27, 2006 CRS Report for Congress Received through the CRS Web Internet Gambling: An Abridged Overview of Federal Criminal Law Summary Charles Doyle Senior Specialist
More informationSocial Gaming: Emerging Regulation (aka Make Money and Avoid Jail )
Social Gaming: Emerging Regulation (aka Make Money and Avoid Jail ) SESSION ID: MASH-T09B Behnam Dayanim Partner PAUL HASTINGS LLP bdayanim@paulhastings.com www.caveat-vendor.com @bdayanim Social Games
More informationPreventing Sporting Corruption through Collaboration: the role of the online wagering industry
Preventing Sporting Corruption through Collaboration: the role of the online wagering industry Address by Australian Wagering Council Chief Executive Officer, Mr Chris Downy, to Victorian Police Sporting
More informationUnlawful Internet Gambling Enforcement Act of 2006 Overview
Attachment A Unlawful Internet Gambling Enforcement Act of 2006 Overview This document provides an overview of the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA or Act), 31 USC 5361-5366, and
More informationANNUAL GENERAL MEETING 2012
ANNUAL GENERAL MEETING 2012 ANNUAL GENERAL MEETING 2012 Alan Jackson Chairman New Zealand Racing Board Financial highlights 2011 2012 Betting turnover $1.533b $1.622b Net betting revenue $228m $238m Operating
More informationTHE UNUSUAL PATH TO INEVITABLE SPORTS BETTING LEGALIZATION B Y D A N I E L W A L L A C H
THE UNUSUAL PATH TO INEVITABLE SPORTS BETTING LEGALIZATION B Y D A N I E L W A L L A C H Reality of Sports Betting Today $500 Billion Wagered Annually Super Bowl = $3.8 Billion March Madness = $9 Billion
More informationUpdate on Sports and the Law: The Future of Sports Betting and Daily Fantasy Sports in Mississippi. Gaming Section MS Bar CLE June 17, 2016
Update on Sports and the Law: The Future of Sports Betting and Daily Fantasy Sports in Mississippi Gaming Section MS Bar CLE June 17, 2016 Legalized Gaming in Mississippi Creation of the MS Agricultural
More informationBetting with the Kelly Criterion
Betting with the Kelly Criterion Jane June 2, 2010 Contents 1 Introduction 2 2 Kelly Criterion 2 3 The Stock Market 3 4 Simulations 5 5 Conclusion 8 1 Page 2 of 9 1 Introduction Gambling in all forms,
More informationInternet Gambling goes Wire -less in U.S., Meeting with Perception
Internet Gambling goes Wire -less in U.S., Meeting with Perception New Department of Justice Interpretation of 1961 Wire Act in Line with Growing Acceptance of Internet Gambling Public Release Date: Thursday,
More informationThe Legislature Could Consider Several Options to Protect Consumers from Unregulated Internet Poker
November 2009 Report No. 09-39 The Legislature Could Consider Several Options to Protect Consumers from Unregulated Internet Poker at a glance Florida law allows poker games at licensed parimutuel facilities
More informationHow To Study Online Gambling
Internet Gambling: An Emerging Field of Research By Christine Reilly and Nathan Smith National Center for Responsible Gaming The fastest growing form of gambling in the world is online gambling. According
More informationOnline gambling payment restrictions A worlwide overview of (some) regulations
i Gaming Asia Macau, 23-25 February 2010 Online gambling payment restrictions A worlwide overview of (some) regulations Etienne Wéry, Attorney at law (Brussels and Paris Bars). Partner, Ulys (www.ulys.net)
More informationUnlawful Internet Gambling Enforcement Act (UIGEA) and Its Implementing Regulations
Unlawful Internet Gambling Enforcement Act (UIGEA) and Its Implementing Regulations Brian T. Yeh Legislative Attorney Charles Doyle Senior Specialist in American Public Law April 10, 2012 CRS Report for
More informationAn Economic Analysis of Regulating and Taxing Internet Poker: Potential Revenue Effects of S. 1597 (Senator Menendez) *
An Economic Analysis of Regulating and Taxing Internet Poker: Potential Revenue Effects of S. 1597 (Senator Menendez) * Prepared By: Quantria Strategies, LLC Submitted To: Interactive Gaming Council March
More informationExplanatory Notes Reporting of International Electronic Funds Transfers. Part 1 Income Tax Act
1 Clause 1 Explanatory Notes Reporting of International Electronic Funds Transfers Offences and punishment 238(1) Part 1 Income Tax Act Subsection 238(1) of the Income Tax Act (the Act) makes it an offence
More informationStandard 12: The student will explain and evaluate the financial impact and consequences of gambling.
STUDENT MODULE 12.1 GAMBLING PAGE 1 Standard 12: The student will explain and evaluate the financial impact and consequences of gambling. Risky Business Simone, Paula, and Randy meet in the library every
More informationAsian Economic and Financial Review DETERMINANTS OF THE AUD/USD EXCHANGE RATE AND POLICY IMPLICATIONS
Asian Economic and Financial Review ISSN(e): 2222-6737/ISSN(p): 2305-2147 journal homepage: http://www.aessweb.com/journals/5002 DETERMINANTS OF THE AUD/USD EXCHANGE RATE AND POLICY IMPLICATIONS Yu Hsing
More informationUnited States General Accounting Office GAO. Report to Congressional Requesters INTERNET GAMBLING. December 2002. An Overview of the Issues GAO-03-89
GAO United States General Accounting Office Report to Congressional Requesters December 2002 INTERNET GAMBLING An Overview of the Issues GAO-03-89 December 2002 INTERNET GAMBLING Highlights of GAO-03-89,
More informationOnline Gambling: With State Regulation, All Bets are Off - The Need for Federal Regulation
Seton Hall University erepository @ Seton Hall Law School Student Scholarship Seton Hall Law 5-1-2014 Online Gambling: With State Regulation, All Bets are Off - The Need for Federal Regulation Ryan Daniel
More informationWashington State Gambling Commission
Washington State Gambling Commission Criminal Intelligence Unit Illegal Internet Gambling Investigations From Intelligence to Case Presentation NAGRA New Orleans 2008 Presented by: Special Agent Supervisor
More informationExecutive summary. Participation in gambling activities (Chapter 2)
Executive summary This report presents results from the British Gambling Prevalence Survey (BGPS) 2010. This is the third nationally representative survey of its kind; previous studies were conducted in
More informationSports Gambling. NCAA v. CHRISTIE --- F.Supp.2d ----, 2013 WL 772679 (D.N.J.) Feb. 28, 2013. OPINION
Sports Gambling Each year almost $150 million is bet at Nevada Sports books out of a total estimate of $380 billion gambled on sports mostly through untaxed and unregulated offshore bookmakers. The media
More information02.12.12. 1. Introduction. Online Gambling as a Game Chager to Money Laundering. What makes ML different from other crime? Dirty and White dollars
021212 1 Introduction Online as a Game Chager to Money Laundering 29th November 2012 Dr Ingo Fiedler Money laundering is the process by which criminals attempt to conceal or disguise the nature, location,
More informationFrom slot machines to gaming terminals experiences with regulatory changes in Norway Vienna September 2010
From slot machines to gaming terminals experiences with regulatory changes in Norway Vienna September 2010 Senior adviser Jonny Engebø The Norwegian Gaming Authority Presentation Background and decisions
More informationtwitter.com/unibetgroup
Q1 2014 29 April 2014 Henrik Tjärnström CEO e Possibility to ask questions via email Q1@unibet.com twitter.com/unibetgroup 2 1 Key Report Highlights Financial results Business overview Kambi spin off Summary
More information9 th European Conference on Gambling Studies and Policy Issues. Loutraki, Greece, 20 September 2012
9 th European Conference on Gambling Studies and Policy Issues Loutraki, Greece, 20 September 2012 1 European Context Regulatory Scenario (retail sector) - Licenses System Scenario - - Lotteries - - Retail
More informationBetting on the US Market: A Discussion of the Legality of Sports Gaming Businesses
feature ARTICLE 747 Betting on the US Market: A Discussion of the Legality of Sports Gaming Businesses By Glenn Light Karl Rutledge Quinton Singleton Over time, the US sports gaming industry has progressed
More informationHow To Understand And Understand The Contribution Of Lotteries In Europe
13 November 2013 Lotteries in Europe The present note provides an overview, based on recent data, of the activities and contribution to society of lotteries in Europe and discusses the threat that the
More informationBCLC Submission to the Standing Senate Committee on Legal and Constitutional Affairs Bill C-290
BCLC Submission to the Standing Senate Committee on Legal and Constitutional Affairs Bill C-290 OCTOBER 22, 2012 Summary of submission: This submission is presented by British Columbia Lottery Corporation
More informationOccasional Paper Series
2011 Center for Gaming Research University Libraries University of Nevada, Las Vegas Number 12 November 2011 Center for Gaming Research Occasional Paper Series University Libraries University of Nevada,
More informationBerdie Dixon Daley Director FINANCIAL INTELLIGENCE UNIT (FIU) FINANCIAL INVESTIGATIONS DIVISION
Berdie Dixon Daley Director FINANCIAL INTELLIGENCE UNIT (FIU) FINANCIAL INVESTIGATIONS DIVISION MANDATE OF THE FID Receipt, analysis and dissemination of information of suspicious activities. The investigation
More informationOnline Gambling. The main forms of online gambling are online wagering and online gaming.
Online Gambling The main forms of online gambling are online wagering and online gaming. Online wagering is comprised of betting on racing (thoroughbred, harness and dog), sports betting (such as the outcome
More informationK&LNGAlert. Internet Gaming Internet Gambling How Will (or Will) the U.S. Respond to the WTO s Ruling?
K&LNGAlert MARCH 2006 Internet Gaming Internet Gambling How Will (or Will) the U.S. Respond to the WTO s Ruling? Since Antigua and Barbuda ( Antigua ) first filed a formal complaint against the United
More informationGaming: Revenue Overview
Gaming: Revenue Overview March 26, 2015 Presented by: The Florida Legislature Office of Economic and Demographic Research 850.487.1402 http://edr.state.fl.us Underlying Economic Premises... The money for
More informationHow To Gamble Online In Australia
Internet Gambling Regulation Richard Brading Principal Solicitor Wesley Community Legal Service Mediums for interactive gambling Internet gambling on a computer Phone gambling voice or interactive phone
More informationAnalyzing the Global Online Gambling Industry
Brochure More information from http://www.researchandmarkets.com/reports/2422644/ Analyzing the Global Online Gambling Industry Description: The global online gambling industry is one of the biggest and
More informationMany recent studies of Internet gambling particularly
GLRE-2012-1655-ver9-Auer_1P.3d 04/09/12 2:46pm Page 1 GAMING LAW REVIEW AND ECONOMICS Volume 16, Number 5, 2012 Ó Mary Ann Liebert, Inc. DOI: 10.1089/glre.2012.1655 GLRE-2012-1655-ver9-Auer_1P Type: research-article
More informationIntegrated Resource Plan
Integrated Resource Plan March 19, 2004 PREPARED FOR KAUA I ISLAND UTILITY COOPERATIVE LCG Consulting 4962 El Camino Real, Suite 112 Los Altos, CA 94022 650-962-9670 1 IRP 1 ELECTRIC LOAD FORECASTING 1.1
More informationSubmission by the Australian Internet Bookmakers Association
1 Locked Bag 5001 Alexandria NSW 2015 Committee Secretary Joint Select Committee on Gambling Reform PO Box 6100 Parliament House Canberra ACT 2600 Australia Sent by email to gamblingreform@aph.gov.au Joint
More informationTABLE OF CONTENTS. 1. Lottery and Gambling Industry Overview. 1.1. International Gambling. 1.2. Global Betting, Gambling and Gaming Industry
1 TABLE OF CONTENTS 1. Lottery and Gambling Industry Overview 1.1. International Gambling 1.2. Global Betting, Gambling and Gaming Industry 1.3. Global Online Gaming Market 1.4. Types of Gamblers 2. Europe
More informationMethodology For Illinois Electric Customers and Sales Forecasts: 2016-2025
Methodology For Illinois Electric Customers and Sales Forecasts: 2016-2025 In December 2014, an electric rate case was finalized in MEC s Illinois service territory. As a result of the implementation of
More informationFair Bets and Profitability in College Football Gambling
236 s and Profitability in College Football Gambling Rodney J. Paul, Andrew P. Weinbach, and Chris J. Weinbach * Abstract Efficient markets in college football are tested over a 25- year period, 1976-2000.
More informationThe Regulation of Internet Gambling in the United States: It's Time for the Federal Government to Deal the Cards
Journal of the National Association of Administrative Law Judiciary Volume 34 Issue 2 Article 7 12-15-2014 The Regulation of Internet Gambling in the United States: It's Time for the Federal Government
More informationHow To Stop Gambling In France
THE FRENCH ONLINE GAMBLING REGULATION BILL SPORTS BETTING HORSE RACING BETTING POKER PUBLIC INFORMATION PRESENT SITUATION OF GAMBLING IN FRANCE General Prohibition (by 3 acts of Parliament) 1 1 2 Legal
More informationOctober 2011. Romania s Gambling Law Amendments: A Lawyer s Analysis
October 2011 Romania s Gambling Law Amendments: A Lawyer s Analysis Contents 2 3 4 5 6 7 8 9 10 11 12 13 Introduction Background New Legislation Lack of Licensing Conditions, Secondary Regulations Licensing
More informationIndianapolis, Indiana * Volume 3, Issue 3 * November 2008
Sports Wagering Education from the Agent, Gambling and Amateurism Activities Staff Indianapolis, Indiana * Volume 3, Issue 3 * November 2008 The month of November is always the one of the most exciting
More informationLegal Igaming in Nevada - A Review
Written Statement of Mark Lipparelli Wednesday, December 9, 2015 Before the Committee on Oversight and Government Reform United States House of Representatives Washington D.C. Statement of Mark Lipparelli
More informationGambling revenue. 10.1 Gambling revenue and taxation
Gambling revenue TECHNICAL PAPER 1 The gambling industry is subject to the Australian Government s GST, as well as a wide range of State taxes, license fees and levies. This paper focuses on State Government
More informationTABLE OF CONTENTS. 1. Lottery and Gambling Industry Overview. 1.1. International Gambling. 1.2. Global Betting, Gambling and Gaming Industry
1 TABLE OF CONTENTS 1. Lottery and Gambling Industry Overview 1.1. International Gambling 1.2. Global Betting, Gambling and Gaming Industry 1.3. Global Online Gaming Market 1.4. Types of Gamblers 2. Europe
More informationSENATE BILL No. 1463. 1 Introduced by Senators Wright and Steinberg. February 24, 2012
SENATE BILL No. Introduced by Senators Wright and Steinberg February, 0 An act to add Chapter. (commencing with Section 0.0) to Division of, and to repeal Sections 0. and 0. of, the Business and Professions
More information2014 Virginia Credit Union League Spring Compliance Conference
2014 Virginia Credit Union League Spring Compliance Conference Bonuses, Gambling, Promotions & Sweepstakes Daniel C. Summerlin III & Nicholas V. Albu Woods Rogers PLC dsummerlin@woodsrogers.com nalbu@woodsrogers.com
More informationGambling and the Law : The Unlawful Internet Gambling Enforcement Act of 2006 Analyzed
I. NELSON ROSE PROFESSOR OF LAW, WHITTIER LAW SCHOOL HOME OFFICE: 17031 ENCINO HILLS DRIVE ENCINO, CALIFORNIA 91436 (818) 788-8509 FAX: (818) 788-3104 WEB SITE: www.gamblingandthelaw.com EMAIL: rose@sprintmail.com
More informationRe-inventing the Game - Driving Online Gaming Growth. September 2010
Re-inventing the Game - Driving Online Gaming Growth September 2010 Agenda About bwin Highlights Q2 2010 Legislative developments and regional expansion Online gaming market Merger with PartyGaming Business,
More informationThe Unlawful Internet Gambling Enforcement Act - Is there a better alternative? Offshore Investment November 2006 Marcus Killick
The Unlawful Internet Gambling Enforcement Act - Is there a better alternative? Offshore Investment November 2006 Marcus Killick September 30 th 2006 saw a tipping point in the world of internet gaming.
More informationSPORTSBET PTY LTD SUBMISSION TO THE NEW SOUTH WALES LAW REFORM COMMISSION S CONSULTATION PAPER INTO CHEATING AT GAMBLING
SPORTSBET PTY LTD SUBMISSION TO THE NEW SOUTH WALES LAW REFORM COMMISSION S CONSULTATION PAPER INTO CHEATING AT GAMBLING 6 MAY 2011 CONTENTS ABOUT SPORTSBET 3 NEED FOR AN INDEPENDENT WAGERING BODY 4 ALL
More informationMONEYVAL RESEARCH REPORT
MONEYVAL RESEARCH REPORT The use of online gambling for money laundering and the financing of terrorism purposes April 2013 www.coe.int/moneyval The use of online gambling for money laundering and the
More informationThe new draft of the German Anti-Money Laundering Act (Geldwäschegesetz, GWG): A Summary and Potential Implications
The new draft of the German Anti-Money Laundering Act (Geldwäschegesetz, GWG): A Summary and Potential Implications By Dr. Wulf Hambach and Maximilian Riege, Hambach & Hambach law firm On 1 August 2012
More informationA Competitive & Legal Canadian Gaming Marketplace
A Competitive & Legal Canadian Gaming Marketplace Recommendations to the Standing Senate Committee on Legal and Constitutional Affairs regarding Bill c-290 Presentation on behalf of Canadian Horse Racing
More informationHow To Amend The Casino Amendment Bill 2012
CASINO AMENDMENT BILL 2012 EXPLANATORY NOTES These notes are circulated for the information of Members with the approval of the Member in charge of the Bill, Mr. Henderson Introduction This Bill is promoted
More informationPROVINCE OF BRITISH COLUMBIA. Summary Review. Anti-Money Laundering Measures at BC Gaming Facilities
PROVINCE OF BRITISH COLUMBIA Summary Review Anti-Money Laundering Measures at BC Gaming Facilities February 2011 2 P a g e EXECUTIVE SUMMARY In early January 2011, a series of news reports ran on cash
More informationInstructions for Forms W-2G and 5754
2016 Instructions for Forms W-2G and 5754 Department of the Treasury Internal Revenue Service Section references are to the Internal Revenue Code unless otherwise noted. Future Developments Information
More informationFOR IMMEDIATE RELEASE DATE: September 28, 2005 CONTACT: Dan Romer, 215-898-6776; 610-202-7315 (cell)
FOR IMMEDIATE RELEASE DATE: September 28, 2005 CONTACT: Dan Romer, 215-898-6776; 610-202-7315 (cell) Card Playing Trend in Young People Continues About 2.9 Million Young People Gamble on Cards in Average
More informationGlobal Online Gambling and Betting Market 2015
Brochure More information from http://www.researchandmarkets.com/reports/3215407/ Global Online Gambling and Betting Market 2015 Description: The latest publication Global Online Gambling and Betting Market
More informationThe Gambling Act 2005 received Royal Assent in April 2005.
Gambling Act 2005 and the Gambling Commission The questions, answers and notes below attempt to address potential concerns that may arise from the change in legislation. A great deal of the details of
More informationSTATEMENT OF JOSEPH S. CAMPBELL ASSISTANT DIRECTOR CRIMINAL INVESTIGATIVE DIVISION FEDERAL BUREAU OF INVESTIGATION BEFORE THE
STATEMENT OF JOSEPH S. CAMPBELL ASSISTANT DIRECTOR CRIMINAL INVESTIGATIVE DIVISION FEDERAL BUREAU OF INVESTIGATION BEFORE THE COMMITTEE ON OVERSIGHT AND GOVERNMENT REFORM U.S. HOUSE OF REPRESENTATIVES
More informationApproximately 76 per cent of the bets taken by Sportsbet are on racing, with the remaining 24 per cent being on sporting or other events.
Introduction Sportsbet Pty Ltd (hereafter, Sportsbet, we and our ) welcomes the opportunity to make a submission to the Victorian Competition and Efficiency Commission (VCEC) as part of the Commission
More informationCRIME PROFILE SERIES ORGANISED CRIME IN PROFESSIONAL SPORT
Threats to the integrity of professional sport in Australia Organised criminal groups currently have a limited presence in professional sports in Australia. However, there are vulnerabilities within the
More informationMessage 791 Communication from the Commission - SG(2012) D/50777 Directive 98/34/EC Notification: 2011/0188/D
Message 791 Communication from the Commission - SG(2012) D/50777 Directive 98/34/EC Notification: 2011/0188/D Reaction of the Commission to the response of a Member State notifying a draft regarding a
More information