Employee hacks into online poker site
A leading Internet poker site said Friday that a hacker exploited a security flaw to gain an insurmountable edge in high-stakes, no-limit Texas holdem tournaments the ability to see his opponents' hole cards.
The cheater, whose illegitimate winnings were estimated at between $400,000 and $700,000 by one victim, was an employee of AbsolutePoker.com who hacked the system to show that it could be done, a spokesman for the company anonymously told a reporter.
This is literally a geek trying ...
Oct 25, 2007, 9:43 am - Lottery News forum
Study reveals online gambling led to *fewer* gambling problems
A report released by the British government's Gambling Commission today reveals that problem gambling has not increased over the last eight years, despite widespread speculation to the contrary.
In fact, there may be fewer problems today than before gambling was legalized in Great Britain on the Internet.
The British Gambling Prevalence Survey is a large-scale nationally representative survey of participation in gambling and the prevalence of problem gambling in Great Britain. The first B ...
Sep 19, 2007, 5:17 pm - Lottery News forum
Congressman leads charge to regulate USA online gambling
Support for Congressman Frank's bid to regulate online gambling in the USA grows
July has been a good month for Congressman Barney Frank, Chairman of the influential House Financial Services Committee and author of Bill HR 2046 the Internet Gambling Regulation and Enforcement Act which proposes the regulation and taxation of Internet gambling in the United States instead of banning the pastime.
Five more Congressman have signed on to the Bill as sponsors, including Representatives Anthony ...
Jul 23, 2007, 8:52 pm - Lottery News forum
Antigua gets favorable WTO gambling ruling over U.S.
The United States has suffered a new setback in a four-year-old legal battle with Antigua and Barbuda over U.S. restrictions on Internet gambling, a U.S. trade official said on Thursday.
At issue is an April 2005 World Trade Organization ruling against U.S. prohibitions on online horse race betting. Since then, the U.S. Congress has passed additional legislation to ban certain financial transactions related to gambling over the Internet.
Gretchen Hamel, a spokesman for the U.S. Trade Repre ...
Jan 27, 2007, 8:46 am - Lottery News forum
Germany debates online gambling
Premiers from the 16 German states were unable to reach unanimous agreement Wednesday on proposed laws to protect state gambling monopolies by banning online gambling in the country.
The heads of the individual German states met to discuss the ban, which would have to be approved by the federal parliament. Three German states Bavaria, Saxony and Hesse have already introduced state laws. Most of the German states run lucrative monopolistic lotteries and are keen to protect these revenues, ...
Dec 14, 2006, 3:39 pm - Lottery News forum
Despite dire predictions, Net gambling not changed by new U.S. law
When President George W. Bush signed the Unlawful Internet Gambling Enforcement Act in October, many reports gave the impression it sounded like the death knell for the multibillion-dollar Web-based gambling industry.
On the contrary, all it did was strictly regulate the process by which funds are transferred from users of the sites to the offshore companies which own and operate them. The practice itself wasn't declared illegal.
Reputable foreign companies wh ...
Dec 8, 2006, 10:56 am - Lottery News forum
Experts: Online-Gambling Ban Won't Work
Gamblers may look over their shoulder now, but experts say a new Internet gambling ban won't keep bettors from ponying up, just turn them on to overseas payment services out of the law's reach.
It has put a terrible scare into people, said I. Nelson Rose, who teaches gambling law at Whittier Law School. But it won't by any means wipe out Internet gambling.
The fright swept through the $12 billion industry on the heels of the recent arrests of two gambling company executives and a new l ...
Nov 12, 2006, 9:08 am - Lottery News forum
U.S. Settles BetOnSports Online-Gambling Civil Case
A federal prosecutor reached a settlement Thursday with online gambling company BetOnSports PLC that permanently bars the London-based company from accepting any bets from the United States.
The lawsuit has been closely watched by the online gambling industry, which generates about $6 billion annually in the United States.
The settlement ends a massive civil case U.S. Attorney Catherine Hanaway filed this summer.
It does not effect a criminal case still pending against several BetOnSpor ...
Nov 12, 2006, 9:03 am - Lottery News forum
U.S. legislation likely just a speed bump for online gambling
A U.S. law aimed at cracking down on Internet gambling may drive the practice more into the shadows and do little to deter bettors
It was getting late on Oct. 12, the night before a sweeping anti-Internet gambling bill would be signed into law. Paul McGuire was at his computer, enjoying one last hurrah on PartyPoker, a site that had pledged to kick off all U.S. users as soon as the law left President Bush's desk. It was kind of like that last party before summer ends when you've got to go ba ...
Oct 19, 2006, 3:59 pm - Lottery News forum
Britain may become the online gambling capital
Britain may bring in legislation allowing London-listed Internet gambling companies to move their headquarters to Britain, taking advantage of the United States legislature's faulty attempts to ban the popular online activity.
Plans to turn Britain into a world leader in internet gambling have been drawn up by ministers, according to internal Whitehall documents.
In stark contrast to America, where online gambling has in effect been outlawed, ministers want to attract offshore companies ...
Oct 8, 2006, 3:20 pm - Lottery News forum