Movie box office: Real betting is on the way
People in the industry like to place little wagers on the weekend boxoffice. They're probably nothing more than five bucks, or a coffee shop lunch if x beats y this weekend. That sort of thing.
That's about to change, though, in a major way. Soon, everyone will be able to bet on the boxoffice, and make or lose lots of money on the outcome.
Cantor Fitzgerald's Howard Lutnick is right now beta testing something called The Cantor Exchange. Lutnick already operates the Hollywood Stock Exchange ...
Feb 23, 2010, 6:02 pm - Lottery News forum
Iowa court says man can't collect casino winnings
A man who won more than $9,000 at an Iowa casino can't collect his winnings because he was banned from the casino 10 years earlier, the state Supreme Court ruled Friday.
The court found that Prairie Meadows Racetrack and Casino in Altoona had the authority to withhold winnings from a person who had been involuntary excluded.
The case involved Troy Blackford, who won $9,387 on May 5, 2006. Because of the size of the jackpot, Prairie Meadows had to issue a W-2 immediately for tax purposes. ...
Feb 13, 2010, 8:43 am - Lottery News forum
Florida Lottery seeks gambling expansion
While lawmakers in the state of Florida debate how to expand casino gambling, the Florida Lottery has expansion plans of their own. This past week, the Lottery published the details of what type of new options they are looking to offer.
Last year, the Lottery added 1,000 vending machines that sold their scratch off tickets. Now, the agency would like to add more of these machines. That would require legislative approval, and there could be resistance to new outlets.
The Office of Program P ...
Feb 6, 2010, 11:25 am - Lottery News forum
Casino table games are coming to Pennsylvania
It's a done deal at last. Table games are coming to Pennsylvania by the end of the year.
By a vote of 103-89, legislation to legalize poker, blackjack, roulette, and other table games received long-awaited final approval last night in the state House. Gov. Rendell plans to sign the bill today.
The gambling expansion, coming as the commonwealth struggles to pull itself out of the recession, is projected to create thousands of jobs and pump $250 million into the state's revenue-starved coffe ...
Jan 8, 2010, 11:35 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
Greenbrier resort offers table games to guests, plans video lottery
Less than a month after getting its license to offer gambling, West Virginia's historic Greenbrier resort has opened the Tavern Casino, an on-site facility for guests with table games including blackjack, three-card poker and roulette.
The 344-square-meter Tavern Casino is open to overnight guests, members of The Greenbrier Sporting Club and The Greenbrier Golf and Tennis Club, in addition to registered event and convention attendees who are staying off-property when more than 400 rooms at Gr ...
Oct 8, 2009, 8:12 am - Lottery News forum
Del. bettors can wager up to $3K in sports lottery
The Delaware sports betting lottery starting this week will allow gamblers to plunk down a couple of bucks, or a few thousand, on NFL teams, officials said Tuesday.
Minimum wagers in the new lottery, which starts Thursday, will be $2. The maximum wager, depending on the type of bet, will be $3,000.
For each wager, bettors must pick the correct outcomes of at least three NFL games, called parlay bets, or as many as 12.
A federal appeals court ruled that the lottery must be restricted to ...
Sep 9, 2009, 9:46 pm - Lottery News forum
Oregon Lottery working to end slump
In recent weeks, Oregon Lottery officials have installed 400 new casino-style slot machines in bars and taverns across the state in hopes of boosting player interest and ending a slump in lottery play.
Lottery Director Dale Penn said the plan is to install another 2,100 of the newer machines in retail establishments to replace some of the lottery's older-style video lottery terminals.
We're real hopeful that we can bring some players back and encourage others to play more, Penn said.
Sep 2, 2009, 5:54 pm - Lottery News forum
Appeals court blocks Delaware's sports betting plan
A federal appeals court today blocked Delaware's bid to open sports betting Sept 1.
A three-judge panel of the Third Circuit Court of Appeals decided that Delaware's plans violate a 1992 federal ban on sports gambling.
The professional leagues and the NCAA sued Delaware in June, but the case is not scheduled to be heard until December. The leagues asked the court for an emergency injunction to halt the betting.
Delaware is one of four states that had sports gambling prior to a federal b ...
Aug 25, 2009, 1:24 pm - Lottery News forum
Hawaii residents now taxed on Vegas winnings even if they lose
A new bill signed into law this month by Gov. Linda Lingle has some frequent Las Vegas visitors and local CPAs scratching their heads.
Under House Bill 1495, no longer will gamblers be able to offset their winnings with their losses for Hawaii state income tax purposes. Previously gamblers would be taxed only on their net winnings, but now they will be taxed on gross winnings.
A Hawaii resident who wins $10,000 in a year, for example, and loses $9,000 in the same year used to be ta ...
Jul 30, 2009, 9:13 am - Lottery News forum