Online Poker Tournaments

 

ONLINE GAMBLING SHOULD PROVIDE SOLID TAX REVENUES FOR NEW JERSEY (Update)
2013-04-24

Answering an enquiry from New Jersey legislative budget chief David Rosen this week, the state treasurer reiterated his assessment that the legalisation of online gambling will generate $225 million in state taxes, and that the New Jersey Division of Gaming Enforcement is tasked with delivering and implementing online gambling regulations sometime between late May and late November 2013.

New Jersey treasurer Andrew Sidamon-Eristoff responded this week to the enquiry, writing that his estimates were based on a report from a Wells Fargo analyst who projected New Jerseys Internet gambling potential could grow to $1.5 billion over the next five years. The Treasurer had opted for a more conservative estimate of $1.2 million in overall revenues.

At a 15 percent tax rate, this would yield $225 million in revenue to the state, Sidamon-Eristoff explained, adding that he expected $180 million in tax revenues would be generated during the first fiscal year of implementation in Atlantic City.

The budget boss had asked for clarity on the issue, expressing some scepticism on the state government's budgeting projections,

New Jersey has legalised online gambling, which is to be licensed to existing New Jersey land gambling licence holders and strictly controlled (see previous InfoPowa reports).

The publication Press of Atlantic City reports that Sidamon-Eristoff feels the Wells Fargo study may have underestimated the potential of Atlantic City-based online gambling, commenting in his response to Rosen:

Wells Fargo estimated an initial impact, which did not benefit from a specific knowledge of the final legislation or our ultimate plans governing how quickly we would be able to roll out a fully functional system.

We also feel that Wells Fargos analysis underestimated the level of excitement, novelty and publicity that such a rare opportunity would create.

Dennis Farrell Jr., the Wells Fargo senior analyst who issued the original estimates, told the Press of Atlantic City that it was possible Internet gambling could gross $1.2 billion in the first year, but that there were many unknowns, including when the regulations would be published and when companies are ready to go online.

Maybe they have an aggressive timeline, he said. The sooner, the better.

Meanwhile, the UK-based consultancy GamblingData has published its own estimate on New Jersey's potential for online gambling, projecting gross gambling revenues of $262 million in the first year (see previous InfoPowa report).

Gambling Data says it bases its forecast on data from the Italian market - a country chosen because its tax rate also is 15 percent, and that it shares other comparable factors.




March Madness Bracket
2015-02-15

$100K MARCH MADNESS BRACKET CONTEST

The Apuestas Deportivas Online Bingo Play Slots Online in US NFL Betting Lines biggest March Madness contest just got bigger.This year Sportsbook.ag is splitting a guaranteed $100,000 in cash among our Top 5 March Madness Bracket contestants. Plus awarding a combined $5,000 in Free Bets to 1,000 other members.Play for a whopping $75,000 first-place prize when you buy your first entry for just $15. Additional entries costs little as $5 and buying multiple brackets gives you the chance to take home the entire $100K prize pot.

Here’s a breakdown of the prizes:
1st Place $75,000
2nd Place $12,500
3rd Place $7,500
4th Place $3,500
5th Place $1,500
6th to 1,005th $5 Free Bet


Visit Sportsbook.ag for an early buy-in and to make your picks


MULTI-PLATFORM ONLINE POKER COMPANIES AT WAR?
2012-11-02

Over the past two days it has become clear from website notices and message board postings that there is serious conflict between the PIV and Muchos Poker multi-platform referring networks.
Some reports suggest that litigation has already commenced, although the genesis for the dispute is uncertain at present, with confusing informal claims from both sides regarding player deposits, royalties, Interpol involvement, affiliate clashes and company responsibilities for payments.
Industry posters impacted by the dispute report that Muchos has advised them that its contract with PIV was terminated on October 29th, although no reasons were given.
Some reports suggest that PIV shut down Muchos banking facilities a month back to channel player deposits to itself, but this has not been confirmed.
Muchos has apparently stopped promoting the PIV poker platforms and is now promoting a range of its own which includes 888, Boss Media, Instadeal, Ongame, Revolution, Merge and iPoker tiers 1 and 2, with Microgaming listed as a forthcoming attraction.
Several affiliate marketer sites report being told by Muchos Poker that their players would no longer be able to access PIV skins, but that a new and improved range of skins are open to them following the termination of the Muchos-PIVGame partnership at the end of October.
Muchos allegedly recommended that affiliates withdraw their account balances from PIV and persuade their players to sign up with it on terms and conditions similar to those they had previously enjoyed.
Players are again left in the no-man's-land between the warring factions and await more clarity on the issue.