Online poker sites settle U.S. lawsuit for $731 million
The Department of Justice announced a $731 million settlement Tuesday with online poker companies PokerStars and Full Tilt Poker to resolve bank fraud and money laundering allegations.
Full Tilt also resolved allegations that it operated a Ponzi scheme, failing to maintain sufficient funds on deposit for players to withdraw. Prosecutors said last year that Full Tilt had used more than $400 million worth of player funds to pay board members and other owners since 2007.
As part of Tuesday's ...
Aug 1, 2012, 6:42 am - Lottery News forum
Internet poker owner handed 14-month prison term
An owner of Absolute Poker, one of the three largest Internet poker companies, was sentenced to 14 months in prison on Monday after admitting to deceiving banks over the processing of gambling proceeds.
Brent Beckley, 32, joined Costa Rica-based Absolute Poker in 2003 and became its head of payment processing. Last December, he pleaded guilty in Manhattan federal court to conspiring to break U.S. laws against gambling on the Internet. He also pleaded guilty to a charge of conspiracy to commit ...
Jul 23, 2012, 9:23 pm - Lottery News forum
CEO of poker site Full Tilt arrested
The chief executive of Full Tilt Poker, the beleaguered one-time Web poker giant, was arrested Monday on a plane that had just landed at John F. Kennedy International Airport as the government unveiled new criminal charges against him related to an alleged Ponzi scheme.
Ray Bitar, 40 years old, is the most significant person yet to turn himself into the Justice Department's 15-month-long effort to prosecute the three one-time leading online poker companies in the U.S. He pleaded not guilty in ...
Jul 3, 2012, 11:21 am - Lottery News forum
Lottery leaders convene in D.C. to discuss future of games
La Fleur's annual symposium draws hundreds of lottery personnel, vendors
By Todd Northrop
This week leaders from nearly every U.S. and Canadian lottery met in Washington, D.C. at the annual La Fleur's Lottery Symposium to discuss the future of government lotteries, especially with regard to Internet sales and play.
Emboldened by a U.S. Department of Justice opinion issued in Dec. of last year clarifying that the Wire Act only has bearing on sports wagering, state lotteries have immediat ...
Apr 26, 2012, 3:40 pm - Lottery News forum
Illinois picks right week to start selling tickets online
But online sales still dwarfed by retailer sales
With a record $540 million Mega Millions jackpot in play, Illinois picked the right week to become the first state in the nation to sell lottery tickets online. Others are watching closely to see if the new approach pays off and whether the state takes the next big step: launching online poker, blackjack and other casino games.
It took only three minutes for the first online lottery ticket to sell once the system went live at 7 a.m. Sunday. ...
Mar 30, 2012, 7:51 am - Lottery News forum
Feds seize gambling site Bodog, indict founder
The sports gambling site Bodog was shut down and four Canadians indicted, including founder Calvin Ayre, for illegal gambling that generated more than $100 million in winnings, federal prosecutors announced Tuesday.
The website's domain name was seized Monday and the indictments, which were returned Feb. 22, were unveiled Tuesday in Baltimore, prosecutors said.
The indictments follow federal prosecutions last year of three of the biggest websites involved in online poker. More than 75 comp ...
Feb 29, 2012, 7:19 am - Lottery News forum
D.C. Council poised to repeal online gambling
After becoming the first jurisdiction in the nation to legalize online gambling within its borders, the District of Columbia is poised to repeal the program before it launches.
The strong backlash on the D.C. Council to the district's online gambling program has little to do with moral opposition to gambling. Instead, councilmembers are upset with the way it became law, saying they didn't realize they had voted to approve it.
Councilmember Jack Evans told The Associated Press on Tuesday th ...
Feb 1, 2012, 8:27 am - Lottery News forum
Ruling by Justice Dept. opens a door on online gambling
2012 may the year of widespread Internet lottery ticket sales
The Justice Department has reversed its long-held opposition to many forms of Internet gambling, removing a big legal obstacle for states that want to sanction online gambling to help fix their budget deficits.
The legal opinion, issued by the department's office of legal counsel in September but made public on Friday, came in response to requests by New York and Illinois to clarify whether the Wire Act of 1961, which prohibits ...
Dec 25, 2011, 2:33 pm - Lottery News forum
D.C. Lottery continues to evolve online gambling plan
The D.C. Lottery's planned online gambling program will not be hosted on the city's secure DC-NET Internet system as originally planned, information technology officials said Wednesday.
The gambling program known as iGaming faces a repeal effort in the D.C. Council, yet lottery officials have been working on its implementation since it passed into law as part of a supplemental budget plan last December.
D.C. Lottery's initial plans to use DC-NET a high-speed fiber-optic network that carrie ...
Dec 8, 2011, 8:47 am - Lottery News forum
Online poker advocates say legalizing won't hurt lotteries
A casino-backed group pushing for federal legislation to make online poker explicitly legal says regulating online card play nationwide won't hurt state lotteries.
Fair Play USA released a data analysis on Tuesday that showed no correlation between spikes and dips in the online poker market with changes in revenues for state lotteries.
Eugene Christiansen, a founding partner with the firm that wrote the analysis, Christiansen Capital Advisors, LLC, said the data showed that poker and lotte ...
Dec 7, 2011, 10:29 am - Lottery News forum