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Things really went sour for the American poker players after Black Friday, where the American authorities cracked down heavily on popular online poker rooms Poker stars and Full Tilt Poker. Full Tilt Poker was caught in a major scandal, having run a pyramid-like business structure, ultimately owing thousands of players real money. It was a major stain on online poker in the United States, and it has taken years for the industry to rebuild its reputation.
That is finally happening now. The act in Michigan has been named the Lawful Internet Gaming Act and establishes a chief regulatory body that, among other things, will be responsible for the issuing of licenses to prospective gambling operators. The model of a chief regulatory body is something we know from other countries as well, as it has become the most popular way of administering a regulated and licensed online poker market.
In the UK, the main regulatory authority is called the United Kingdom Gambling Commission. It is entrusted with the issuing of licenses and also controls that all operators are in line with UK laws and regulations. For example, there are certain standards for responsible gambling that all online poker rooms in the UK have to comply with. If they fail to do so, the Gambling Commission can fine them and, in extreme cases, revoke their license (one example of this found here).
Denmark and Sweden have very similar regulatory systems. In Denmark, the chief gambling authority is known as Spillemyndigheden – in Sweden it’s called Spelinspektionen. Just like in the UK, both Denmark and Sweden operators have to comply with certain standards and failure to do so can result in fines or revoked licenses (see more here – reference in Swedish). The new gambling laws have also been praised because they help to accumulate tax revenue for the respective countries (more information here – reference in Swedish). In Michigan, the new law is expected to increase tax revenue by approximately $20m. Due to the federal structure of the US, it is the individual states that are setting up regulatory bodies and issuing license. A license in Michigan does not allow online poker rooms to operate elsewhere in the country.
For you as a sports betting enthusiast, you can now place bets on the great game from anywhere with cellular services. If you are a serious vendor. Org player and never want a bet again mobile sports betting was made for you. To miss out on participating in mobile sports betting, you need to have a cell phone that is WAP enabled. Most cell phones that are available today have this feature. Aside from a cell phone, bettors must also have a valid account with one of the online sports betting sites that offer mobile sports betting.
The new bill makes Michigian the sixth state to legalize online poker, following in the footsteps of New Jersey, Pennsylvania, Delaware, Nevada and West Virginia. The legalisation became official over the Holidays, so prospective online poker rooms seeking to operate in Michigan have hardly had any time to prepare their bids. Due to the legalisation of online poker in other states, many operators have already established themselves in the US, including Intertops, Bovada, SB Poker and Carbon Poker. It would not be surprising to see these enter Michigan as well.
However, new online poker rooms are expected to emerge as well. At this point in time, Pokerstars are only offering their services in New Jersey and Pennsylvania, with Michigian a potential third option. Poker is also an option. players from New Jersey, Nevada and Delaware can already play against each other in the same player pool, and Poker is expected to continue expanding to other states.
Overall, the future for online poker in the United States looks bright once again. The online poker rooms are back, the players are embracing it and legislators have realized some of the positives of legalizing online poker – such as increased regulation and tax revenue. Chances are the 2020s will be much better for US online poker than the 2010s.The online poker site Bugsy’s Club closed its virtual doors this week, having dealt its final hand after just over six years of operation. By arrangement with PokerStars, the 180,000 players on Bugsy’s Club have been invited to transfer their accounts over to the world’s largest poker site.
Bugsy’s Club was first launched in February 2003 by a group of private investors, and while it has always maintained a modest player base, the site was negatively affected both by the Unlawful Internet Gambling Enforcement Act of 2006 and an increasingly competitive market for online poker. In a statement from the site’s management and staff, “circumstances beyond our control with regards to banking facilities” were also cited as a factor in the site’s decision to cease business operations.
Brian Baker, CEO of Bugsy’s Club, stated that he was “saddened by the events that have led to the closing” of the site, but was “delighted that PokerStars… has come forward to take care of our players personally.” PokerStars has announced its plan to host a series of freeroll tournaments for players coming over from Bugsy’s Club as a way of further welcoming them to Poker Stars.
Bugsy’s Club players should anticipate receiving an email from Poker Stars in the next few days containing instructions about how to facilitate the transfer of funds. Bugsy’s Club players will need to transfer their accounts over to Poker Stars in order to withdraw their funds, as all Bugsy’s Club accounts will be closed. Also, players transferring funds to Poker Stars will not be able to withdraw their funds immediately, but will be required to play the requisite hands to clear the money for cashout, much as one might do when clearing a deposit bonus. While player balances will be transferred, unfortunately Bugsy’s Club players will not be able to transfer their Bugsy’s Bonus Points (BPPs).
