PokerStars’ Dire Straits End: Money for Something, No Chips for Free

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PokerStars’ Dire Straits End: Money for Something, No Chips for Free

A reinterpretation of this law by the DoJ could open the door for PokerStars to enter the brand New Jersey market at last.

Just when you can’t possibly become anymore cynical on how justice is meted out on earth, a boomerang that is new tossed that hits you square in the pinnacle. Such is the latest into the U.S. Department of Justice’s power to bend, turn, mutate and basically rewrite what the law states when they can possibly fit some more income from the jawhorse to increase their coffers.

Of course, we would never ever mean that any deals that are backhanded going on, but you can arrived at your own personal conclusions with this one.

Justice 2.0

Unnamed sources are rumored to have admitted that the DoJ is suddenly ready to accept an interpretation that is new of law, one which essentially lets non-American citizens and any businesses they may be involved with off the hook with any criminal charges. Term could be the federal justice agency encourage corporate fines which we’re pretty sure won’t be chump change along with pleas that could kill any pending charges, as long as those companies do not have U.S. physical presence whatsoever.

Is not it just so convenient that this takes place to encompass the precise situation that will allow PokerStars until now saddled with the dreaded ‘bad actor’ designation that has kept the major online site out of the running in both Nevada and nj-new Jersey to reunite in to the Internet game into the U.S. poker scene. Things that make you go hmmmmm.

Waiting to Exhale

PokerStars has been most anxious to take advantage of New Jersey’s 9 million population that is (Nevada’s base is just a much smaller under 3 million); and this may be just the ticket to make that happen. In fact, some news sources are reporting that this will directly impact Isai Scheinberg, Pokerstars creator, with resolution expected this a move that would then allow PokerStars to enter the U.S. online poker market at last year. Scheinberg’s Black Friday 2011 indictment has been a stumbling that is major up until now to making that a reality.

No doubt, PokerStars wants to reestablish its brand presence before they are left in the dust with New Jersey’s online market up and running since late November 2013 and with major poker-only sites for Borgata (with partner PartyPoker) and Caesars WSOP-brand already zooming out in front of the competition. The company also needs to match competitor PartyPoker, which just lately broke brand new marketing ground with a first-time-ever pro recreations alliance with both the NHL’s New Jersey Devils and the NFL’s Philadelphia 76ers. And PokerStars pre-Black Friday brand was so powerful between America’s shores, the business could well and may very well jump quickly to the front side of the line once again if provided a comeback kid’s opportunity at it.

Good thing PokerStars’ non-American market has held the company’s pockets lined in gold; a 2012 DoJ settlement with the department price PokerStars a cool $547 million (paid out over three years) to take control competitor Full Tilt’s defaulted accounts and obtain players on both sides of the world paid up. And that’s not really taking into consideration Stars’ $15 million that is now gone with the wind; money placed into the now-defunct Atlantic Club as a sort of ‘good faith’ deposit on what the company thought could be their purchase of that establishment. Plus millions that are going towards prospective online partner Resorts Atlantic City, so that when the smoke clears, Stars is willing to roll online as soon as possible in New Jersey.

The net poker company has spent so out-of-pocket that is much in fact, that some might wonder if it also is practical in the future back to your American market as of this point. But PokerStars knows its good behavior post-UIGEA will constantly stick in American players’ minds as a positive credit, and obviously they visit a profit potential also after kicking back, um, we mean paying off ‘fines’ towards the Department of Justice for another shot.

Bitcoins Go Legit for Nongaming Product Sales in Two Las Vegas Hotels

Two Las Vegas downtown hotels are allowing Bitcoins to be utilized for nongaming purchases for the first time ever.

Something you can state definitively about the cryptocurrency known as Bitcoins: they discover how in which to stay the news. Whether its play free pokies indian dreaming the digital currency’s fluctuating change rate (which has mostly been somewhere in the $900+ mark the past month) or alleged affiliations with darknet sites like illicit-trade site Silk Road, Bitcoins are definitely front-of-mind for many people; gamblers in specific.

So possibly it willn’t surprise us that the currency that is normally associated with illegal and usually untraceable tasks, is now going in to the marketplace that is legit via acceptance for nongaming deals at two major downtown Las Vegas hotels, starting earlier this week.

Downtown Hotels to Accept Bitcoins

It’s definitely a novel concept, but D Hotel and Casino owner and Golden Gate CEO Derek Stevens is not merely one to panic of the unknown. The 2 hotels are now breaking ground by accepting Bitcoins in real-life nongaming scenarios. And what better method to start than with some dog that is hot at the D’s US Coney Island restaurant; apparently a couple of Bitcoin transactions hit for the weiners right out of the gate.

‘ There is a lot more excitement across the idea than we first thought,’ noted Stevens, adding, ‘I’m not really certain how this will evolve.’ The hotelier says he’s been considering the Bitcoin selection for the year that is past a half before making the plunge. Apparently customers even nudged him about the possibility in some places.

Certainly, it is a groundbreaking move; the two downtown properties will be Sin City’s first-ever to take Bitcoins for any kind of transactions whatsoever. Both hotel casinos takes the cryptocurrency for room charges et al at their respective front desks, while the D will also accept it at its present shop, the American that is aforementioned Coney restaurant, as well as at Joe Vicari’s Andiamo Italian Steakhouse, on the hotel casino’s property.

Tech Investment

The cryptocurrency will be accepted via tablets programmed with Bitpay which will be located at various cashier outlets; users with mobile wallets can therefore easily move the funds as needed. Stevens says he had to make the investment into that technology in order to enable Bitcoin processing; he decided it had been well worth the risk for the initial and distinguishing edge it gave him over competitors.

‘We’re situated in the growing high-tech sector of downtown Las vegas, nevada, and like all things downtown, we’re quickly adaptive to technology that is new’ said Stevens. ‘The timing is right for us to launch this initiative, and I also’m delighted in order to provide this to our customers.

‘I think 2014 is certainly going to be a year that is interesting Bitcoin,’ Stevens added. ‘there are a true number of companies beginning to accept the currency. We do require a complete lot more direction from the IRS therefore the U.S. Treasury.’

That final comment is probably a significant obstacle to Bitcoins being accepted for video gaming transactions quite yet; that, plus the proven fact that Nevada state regulators haven’t sanctioned the payment method yet. And don’t expect that to take place any time soon, either; Nevada’s Gaming Control Board Chairman A.G. Burnett states the topic hasn’t also been broached between the commissioners and any casino proprietors.

‘So far, we have prohibited it,’ Burnett noted.

And Stevens has no problem with that for now.

‘we think it is too early with the technology. We require a much more information,’ he said.

For now, in accordance with Stevens, his two properties will track all point-of-purchase sales made with Bitcoins; as with a foreign currency, those transactions will have to be converted to US bucks, and Nevada’s state coffers will get their normal cut too via product sales and room taxes. That information will then be passed away on to your state’s regulators for review and consideration.

Nevada Gaming Control Board Joins Olympic Committee to Fight Bet Scams

The Nevada Gaming Control Board is joining because of the Olympic Committee to combat betting frauds for this season’s events

The issues of match fixing, point shaving and recently, even courtsiding, have all put problematic issues that are betting activities in the headlines a lot lately. And of course, there is nothing more front-of-mind when it comes to sports than the XXII that is upcoming Winter Games in Sochi, Russia which will run from February 7 -23, beginning in just a couple days.

Nevada Regulators to greatly Help IOC

And of course, no one knows more about activities betting than Nevada, the state that is only activities betting is officially appropriate in the U.S. With that in your mind, the Silver State’s Gaming Control Board (GCB) has agreed to work with the International Olympic Committee (IOC), with the target for both bodies to locate any possible improprieties that might surface in the Winter Games competitions. The 2 groups that are key they will share information so that you can keep up with the integrity of all sports involved.

Ironically, Las Vegas sports books will never be able to accept any wagers in the Olympic games themselves, but the plan is apparently to keep close track of both illegal and offshore books for just about any signs of game manipulation.

‘Nevada is looked upon throughout the world as the standard that is gold gaming regulation and part of that reputation is tied to the board’s tireless efforts to thwart illegal and irregular betting generally speaking and we are glad to put forth that same level of effort in eradicating illegal and irregular gambling in recreations specifically,’ said GCB member Shawn Reid. ‘ The Gaming Control Board is honored to be a partner with the International Olympic Committee in the fight against illegal and irregular gambling in activities.’

This matchup follows an earlier agreement that was signed in London, prior to the 2012 Summer Olympics in that city. Information provided by Nevada regulators and sports books will be put to use in the IOC’s newly dubbed Integrity Betting Intelligence System (IBIS), according to IOC communications director Mark Adams.

Old Problems, New Games

the two organizations are going to be watching are certainly absolutely nothing brand new; sports books have been pivotal in the last in unravelling schemes that are point-shaving both college and pro-basketball games for the NCAA and NBA. The books watch especially for irregular patterns that are betting help them zero in on potential problems.

The Nevada Board’s enforcement chief Karl Bennison says the GCB has plenty of expertise in these things, having previously worked with Major League Baseball, as well as the NFL; this will be the Board’s very first assisting the Olympic Games with these issues, however year. And Bennison knows that nearly such a thing could emerge by having a little digging.

‘There’s no telling what we could get in our investigations,’ Bennison said.

‘We might be contacted by a casino, and they might state we’ve unusual or activity that is awkward the betting,’ he noted. ‘For example, people could possibly be betting a proven way in the game, and all of a sudden a great deal of money comes in on an alternate side.’

The GCB was instrumental in uncovering a point-shaving system back in the 1990s at Arizona State University. In what became a major scandal, two ASU basketball players had been taking bribes to throw the point spread for four different games. It absolutely was some of the Sin City sports publications that initially spotted a pattern that is unusual of bets; they alerted the GCB, which in turn contacted the FBI.

The bad guys don’t behave nicely while Bennison says the collaboration is simply being done as safeguard, and not because anyone actually anticipates anything shady to go on, that’s sort of like saying the SWAT team is only on hand in case. And with a $10 million fund having been set up by the IOC to fight any match that is possible or illegal wagering, we’re guessing the metaphoric AK’s will be locked and packed.

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