US delays crackdown on Internet gambling
The US Treasury Department and Federal Reserve Board delayed for six months on Friday the enforcement of new rules designed to crack down on Internet gambling.
In a joint statement, the Treasury Department and Federal Reserve said US financial institutions were being given until June 1, 2010 to be in compliance with the Unlawful Internet Gambling Enforcement Act.
The act, which would ban US banks, credit card and financial companies from handling unlawful Internet gambling bets, had been s ...
Nov 28, 2009, 6:52 am - Lottery News forum
Ohio Lottery opposes state audit
The Ohio Lottery Commission has formally rejected State Auditor Mary Taylor's decision to launch a performance audit of the $2.4 billion agency without its blessing.
Lottery Director Kathleen Burke said in a letter Saturday that the audit does not seem reasonable, necessary or a wise investment of public funds.
Taylor's office notified the commission last week that it was beginning a performance audit, citing the uncertain nature of gambling revenue from month to month and an environment ...
Nov 23, 2009, 8:31 pm - Lottery News forum
Arizona legislators may borrow against future lottery revenue
Voters must extend lottery beyond 2012
State lawmakers already are eyeing another special session on the budget next month, including a proposal to ask voters to extend the Arizona Lottery.
The plan comes even though the Republican-controlled Legislature has yet to give final approval to plans to cut about $300 million in state aid to education and welfare-agency funds.
That effort stalled Thursday when two GOP lawmakers refused to go along with a piece of the package to let state agenc ...
Nov 23, 2009, 10:32 am - Lottery News forum
Poland proposes online gambling ban
Following weeks of political scandal, Polish Prime Minister Donald Tusk is determined to ban online gambling in the EU-member state.
The new legislation will outlaw all gambling that takes place outside land-based casinos, including online gambling, while imposing higher taxes on legal gambling operators. The first draft of the proposed reform will be ready in two weeks.
Internet gamblers may shrug off yet another crack down on their favorite past time, given that numerous countries have i ...
Nov 11, 2009, 3:10 pm - Lottery News forum
Arkansas Republicans upset about makeup of lottery officials
Arkansas Republican leaders are upset about a lack of representation in the formation and oversight of the Arkansas lottery.
The Lottery Oversight Committee, composed of six House members and six Senate members, contains one Republican.
The remaining members of the commission, picked by Gov. Mike Beebe, House Speaker Robbie Wills and Senate President Pro Tempore Bob Johnson are also Democrats or have Democratic ties.
While Republicans concede that the party in power usually makes select ...
Sep 6, 2009, 7:57 pm - Lottery News forum
N.J. Lottery goes from zero to highest tax rate in the USA
Adding insult to injury, 11% taxes are retroactive back to Jan. 1
Local Mega Millions winner calls it Pathetic money grab , as feel-good story about workers' winning jackpot is transformed into an example of oppressive government that finds it easier to take from a few lucky winners than to stop wasteful government handouts and spending.
The limits of luck are becoming clear to Lynn Sellari, whose Cash 5 lottery ticket left her with a windfall of money in May.
Over the past few days, Se ...
Jul 2, 2009, 11:40 pm - Lottery News forum
Feds freeze online poker champ's winnings
Federal officials order banks to freeze millions in online poker winnings
On the Sunday before Memorial Day, David made the big time.
Winning $10,000 in an online poker tournament made him eligible for the upcoming World Series of Poker, the game's premier event, where hundreds of players amateur and professional descend on Las Vegas from around the world to play for a multimillion-dollar pot.
To register, he simply had to cash a check cut by a company that processed payments for the po ...
Jun 11, 2009, 11:20 pm - Lottery News forum
Internet gambling bill awaits house vote
Legislation seeks to enable some forms of online gambling such as Internet poker and wagering on horse racing
Congress is moving closer to passing legislation that will relieve U.S. financial services companies from implementing bans on Internet gambling as the Payments System Protection Act (H.R. 6870) was approved by the House Committee on Financial Services and appears headed for a possible vote by the full House next week.
Pushed by the committee's chairman, Rep. Barney Frank, D-Mass., ...
Jun 10, 2009, 7:51 pm - Lottery News forum
Online poker group says gov't seized $30M in player payouts
In the latest skirmish in the battle over Internet gambling, online poker advocates say the government has frozen more than $30 million in payouts affecting thousands of players.
The Poker Players Alliance released a statement Tuesday claiming that the U.S. attorney for the Southern District of New York instructed four banks to freeze accounts belonging to online payment processors. John Pappas, the group's executive director, claims the frozen accounts contain funds owed to 27,000 players wh ...
Jun 10, 2009, 7:45 pm - Lottery News forum
Tennessee Lottery shortfall requires reserves
$10 million needed to fully fund scholarship grants for students
Are computerized drawings hurting sales? Will the Tennessee Lottery bring back real ball drawings? Why is Powerball always blamed for poor financial showing in Tennessee?
The state of Tennessee probably will have to pull about $10 million from reserves to keep lottery scholarships fully funded this year, budget officials said after reporting a revenue shortfall last week.
State Budget Director Bill Bradley said the state w ...
May 4, 2009, 6:35 pm - Lottery News forum