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€5 billion, now that’s a lot of money.  These are the projections for the online gambling industry.  But when one considers that figure is just limited to one tiny island in the Mediterranean Sea, it is indeed difficult to get a grasp on how much the entire sector will take it. 

Cyprus is just a small part of the equation after all.  The island of Malta, also in the Mediterranean, represents a much larger contingency of online gaming ventures.  Costa Rica in Central America takes in untold amounts of money, most of which comes from the US. 

In 2008, the turnover from online gambling in Cyprus reached €2.5 billion according to the Cyprus Mail.  Interestingly enough, Cyprus is no longer licensing brick and mortar casinos on the island.

"Ninety-five per cent of electronic gambling services in our country operate legally because they are provided over the Internet and there is no authority (here) where one can apply for a permit," said Ionas Nicolaou, chairman of the House Legal Affairs Committee.

The DISY deputy revealed that one of the three biggest providers of online gambling services on the island, with a 30 per cent market share, turned over around €680 million in 2007.

In 2008, credit card spending on online gambling had reached €100 million, Nicolaou said.

Fifteen computers made a profit of €93,000 in just two weeks, he added.

While currently legal, lawmakers have proposed to re-amend a law that would exclude online gambling.

"The social impact is terrible," AKEL deputy Aristofanis Georgiou said. "The main aim is to protect Cypriot society."

Prosecution for gambling on the Web is still possible under the current law, but only if the perpetrators are caught in the act.  And individuals who play online games from the privacy of their home are not breaking the law.

Online casino establishments are cropping up all over the island.

Jagajeet Chiba, Gambling911.com

 

In an opinion on two cases currently before the European Court of Justice, Advocate General Paulo Mengozzi has outlined some of the legal difficulties which Internet technology has introduced into the international debate in Europe and the question of harmonisation of regulations.

AG Mengozzi was commenting on the German cases involving Markus Stoss (C-316/07) and the Gibraltar-based Carmen Media Group (C-46/08).

In the absence of harmonised legislation, EU member states are developing very different legislation which makes it “hugely challenging” for the community judge to ensure the respect of the Freedoms provided by the Treaty, the AG observed.

He went on to opine in the Stoss case:

• Monopoly holders can only promote participation in games of chance in a moderate manner and the intention cannot be to increase the revenue of the public purse.
• It is for the (German) national court to examine in particular whether Oddset, the German sports betting monopoly, meets these criteria. The German Federal Constitutional Court concluded in March 2006 that the advertising displayed by Oddset “was not intended to limit opportunities for gaming and to prevent addiction to gaming, but was intended to obtain tax revenue for the public purse”.

Turning to the Carmen Media case, AG Mengozzi noted: “Consistency must always be examined from a national view point, with the result that regional differences within a Member State might render the system inconsistent”.

Sigrid Ligné, Secretary General of the online gambling trade association EGBA commented: “This is the second opinion in a short period involving a German gaming case. AG Bot in January confirmed the primacy of EU law over German law by clarifying that non EU compliant law has to be immediately dis-applied, without any transitional period.

“Beyond the legal considerations, you have to look at the reality of the market. There is a consumer demand for online gaming in Germany. The sports community is losing out as it is not allowed to cooperate with the European gaming industry. Other EU member states are embracing the reality that online gaming is a popular leisure activity and have started regulating the sector. EGBA urges the German authorities to do likewise.”

A date for the ruling of the ECJ has not yet been set.

By Gregory A. Hall • courier-journal.com

FRANKFORT, Ky. – A bill to tax bets that Kentuckians place on horse racing from home passed the House overwhelmingly Friday and advances to the Senate.

House Bill 368, sponsored by Speaker Pro Tem Larry Clark, D-Louisville, would place a 0.5 percent tax on advance deposit wagers made by Kentucky residents through online and phone services such as Churchill Downs Inc.’s TwinSpires.com.

It was approved 85-8.

Clark has said he believes the tax could generate as much as $400,000 a year, although the Legislative Research Commission says the impact is unknown because of a lack of data about how much money Kentuckians bet that way now.

He said he believes the GOP-led Senate might support the measure.

"I think that it’s a way for us to advance the tracks as far as adding more purse money … so I think it’s something the Senate would look at," he said. "They talked about last session, when they did not want to do slots, finding more revenue for (tracks). This is one avenue that would find more revenue for them."

The tax would be paid by the account-wagering companies, with a third of the revenue going to the Kentucky Horse Racing Commission, a third to whichever Kentucky track is running at the time and the remaining third to that track’s purses.

If all the state’s tracks are dark, the one with the next scheduled meet would get the money.

Although overall pari-mutuel wagering is declining, the account wagering market represents a growth sector.

Currently, the state does not collect excise taxes on bets made by Kentucky residents through account wagering companies as it would if the bets were made at a Kentucky track or simulcasting facility.

The tax would be similar to those imposed by Illinois and Virginia on account wagering.

The account wagering tax bill has advanced farther than in last year’s session, when a bill filed by Clark died in the House Appropriations and Revenue Committee. It would have imposed a 3.5 percent tax.

Carrie Stroup sadly packed her bags last night, as a move to legalize casino gambling at the Hawaii Legislature this session is now dead. Carrie had been in Hawaii covering the gambling proposal in recent days.

The Committee on Finance deferred a casino gambling bill yesterday after public testimony was overwhelmingly against it.

Gambling interests pitched casinos as a way to help rejuvenate the tourism industry and to bring $86 million a year in tax revenue to a state facing a projected $1.2 billion deficit. The committee held a public hearing on House Bill 2251, calling for a 5 year license to operate casinos out of Honolulu, and to generate much needed funds from a wagering tax. The proposal included a 7 percent tax on monthly gross receipts, retaining some of the revenue for the commission’s administrative costs and a treatment program for problem gamblers. The remainder of the new tax revenue would go to the state’s general fund.

 One lobbyists representing gaming interests stated that one single casino in Waikiki could generate $522 million in revenue.

However, opponents such as the Hawaii Police Department, argued a casino would eat up tourist money, tarnish the state’s family-friendly image and increase crime.

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From Pokerati.com

Greg Raymer is still alive in the NAPT main event (with 128 of 872 remaining). He made it just in time for the tournament … via Washington DC, where he was at CPAC 2010, bringing "our issue" to the people who came to see the likes of Newt Gingrich, Dick Armey, John Ashcroft, Glenn Beck, and Tucker Carlson.

It’s kinda a tough sell when you think about it … the buzzwords in influential conservative circles these days are all about less government, not more. So here we have poker’s Libertarian ambassador trying to persuade GOPers to: forget the moralists in favor of personal freedom (ok, probably doable), set up a new government bureaucracy to monitor our financial activity on the internet (what the …?), and tax him a lot more personally. ("OK, now we gotta hear this; hey Jeb get over here, I think the guy who showed up in your office this summer wearing shorts and sandals with socks is gonna tell a joke!)

Vanity Fair seemed to find it a little bit mockworthy. But according to Time magazine, what really matters is that poker players do know how to party:

But probably the coolest parties that first night at CPAC were secret ones – invite-only passes palmed to a select few. The first one was hosted by the Poker Player’s Alliance and included CPAC’s "It" kids, James O’Keefe of Acorn pimp fame and his three cohorts who were recently entangled with the law for messing with Louisiana Senator Mary Landrieu’s phone lines; anti-tax champion Grover Norquist; conservative media personality Andrew Breitbart; and 2004 World Poker Champion Greg Raymer. The open bar at Medaterra got quite a workout with young conservatives ordering everything from beer to shots of Redheaded Sluts, a crimson concoction involving Jagermeister. (After some debate, no one was game enough to try a flaming Redheaded Slut.) Breitbart and the rest of the Louisiana Four – as they were fondly hailed by many at CPAC – then headed over to a party hosted by Mike Flynn, editor of the website Big Government, at Morton’s Steakhouse. Flynn not only had an open bar tab but stacks of fine cigars for guests to chuff on.

BTW, check out CPAC’s straw poll to see what issues matter most to people who consider themselves true conservatives in 2010. You’ll see on page 11 that the runaway favorite for president amongst these folks is Ron Paul (R-TX), who generally hates all things more-government, but as a co-sponsor to the Barney Frank bill, could prove a critical ally.

888.com – already widely recognised as one of the world’s leading online casinos – has added a new page called ‘888games.com’ to its website.

888games.com offers players a diverse range of casino and novelty games in one easy-to-navigate page, giving players a great choice that includes everything from Keno and scratch cards to virtual sports and table games.

As part of the revamp, the online casino has also added three brand new games to its rosta. Amazon Wild is a jungle themed slot that brings the flavour of this South American jungle straight to your computer screen. The stunning 5 reel slot has 100 paylines. On each wheel, there are four special feature symbols and winnings are rewarded when players are lucky enough to discover the golden Aztec temple.

Pocket Fives is another game debuting on this new section of the 888.com website. In this simple game, all you have to do is correctly predict the outcome of five face down cards. The payout is based on your guesswork.

Also new to 888games.com is Keno 10. Players must pick ten numbers and then 20 numbers are drawn from the hat. Get at least five correct and you are already in the money. Get all ten correct and you the top prize.

If you love scratch cards, then there are several new additions to whet your appetite at 888games, including: Monster Maker SC, Nessie's Photo SC, Find the Bone SC, Knife Thrower SC, Love Pond and Girl's Best Friend. All the games can be played for fun before you go for the real cash game

888.com chief operating officer Itai Pazner said: "888.com is thrilled to provide its valued players with an exciting array of quality online games to choose from. We know that each player has his or her preferences and we are happy to cater to this diversity."

The adrenaline were pumping faster than ever for online poker players around the world Tuesday night. Team UB pro Joe Sebok announced the password to his online poker freeroll on his website SkyDiveWithSebok.com at 9pm ET. The free online poker tournament, scheduled for Wednesday, February 17 at 9pm ET, will include a $2,000 prize pool plus a Las Vegas Skydiving experience with Joe Sebok for the winner.

The online poker tournament gets underway on Wednesday, February 17, 2010 at 9pm ET. The Texas Hold’em tournament can only be unlocked with a password. The code was announced at www.skydivewithsebok.com/password and is RAININGSEBOK.


Joe Sebok’s Leap of Faith is the first freeroll in UB.com’s Pro Freeroll Challenge. Over the next 11 months, five more Team UB pros will each host one Texas Hold’em freeroll at UB.com featuring a $2,000 prize pool plus a lifestyle component decided by the freeroll host. 

Team UB pros are competing with each other to see who can attract the largest number of players to their freerolls. With a large following in the online poker community and having added a priceless experience to his freeroll, Sebok will be a tough act to follow. 

 

About UB.com

 

Built for the passionate poker player, UB.com offers top poker rewards, optimal tournament structures and fast-paced action games in one of the largest online poker communities in the world. Players can download the free poker software, play in free ring games and tournaments, plus meet and chat online with Phil Hellmuth and other Team UB pros to learn and enhance their playing strategy. UB provides the best poker games available on the net as part of the CEREUS poker network.

 

No one can dispute the fact that Cole South is on a major heater, the kind most players can only dream about. The CardRunners pro has been absolutely dominating the nosebleed games at Full Tilt Poker since 2010 started and there are no signs that he will be letting up anytime soon.

Currently, South is online poker’s biggest winner on the year as he has profited over $2.7 million since January 1st. Whether the game is shorthanded 6-max or heads up, South has taken and dispatched all comers and he has done so against the games best players. Yesterday was no exception as he added $558,000 to his bankroll, thanks in large part to getting the best of Tom "durrrr" Dwan and Ilari "Ziigmund" Sahamies. South is not solely a big stakes player however, he also plays in some smaller games as well, where he generally crushes the opposition at a high win rate.

This time around the day started off shaky as he quickly lost a quarter million to Patrik Antonius and Dwan playing $300/$600 Pot Limit Omaha. He quickly rebounded however, as he took on Dwan heads up and took the pro for over $300K in under 1000 hands played. Almost as quickly, he lost $250K back to Antonius before taking on Ziigmund and a host of others in a six-max PLO session. He booked a solid $425K in winnings, fueled by a couple of $250K pot he took down.

Meanwhile, Antonius’ score against South propelled him even closer to the break even mark for the year. At some point variance will undoubtedly catch up with South, though opponents should proceed with caution against him until further notice.

Source:  www.aintluck.com

 

More Poker Articles Like This…

1. LarsLuzak is the Big Winner at Full Tilt
2. Top Poker Players Among Biggest Losers at Full Tilt
3. Poker Pros Ivey and Ziigmund Up in 2010
4. Patrik Antonius Up over $4 Million in 2009
5. Antonius Wins World’s Largest Online Poker Pot

 

Betting on the 2010 Winter Olympics has already begun and it remains to be seen how much action will be taken on this every-four-year event.  The Summer Olympics do tend to bring in more viewers and perhaps more gamblers.

One of the most popular of the 2010 Winter Olympics betting events is sure to be the Alpine Skiing and our friends at Sports Interaction, Canada’s first licensed online gambling firm, has a whole menu of betting on Alpine Skiing.

All odds appear below and can be wagered on at Sports Interaction.com here.  Get a 100% Sign-up Bonus, Deposit $116, get $116 Free

 

         L Vonn
  
-139





         M Riesch
  
+475





         A Paerson
  
+600





         L Gut
  
+1000





         N Fanchini
  
+1000





         A Fischbacher
  
+1200





         D Gisin
  
+1200





         J Mancuso
  
+1400





         E Goergl
  
+1400





         E Brydon
  
+1600





         T Maze
  
+2000





         N Styger
  
+2500





         M Marchand-Avier
  
+3300





         K Vanderbeek
  
+4000





         M Rolland
  
+4000





         F Suter
  
+6600





         J Lindell-Vikarby
  
+6600





                            

Each way betting available (click on   to place 2 bets, one with the selection to win and one with the selection to come in first 3 at 1/4 of the odds) 

Tuesday, February 16, 2010

          
 


         C Janka
  
+500





         D Cuche
  
+550





         AL Svindal
  
+550





         B Miller
  
+800





         W Heel
  
+1000





         D Defago
  
+1400





         E Guay
  
+1400





         C Innerhofer
  
+1600





         M Walchhofer
  
+1600





         K Kroell
  
+2000





         R Baumann
  
+2500





         B Raich
  
+2500





         H Reichelt
  
+2500





         M Sullivan
  
+2500





         M Buechel
  
+2800





         P Fill
  
+2800





         A Hoffmann
  
+2800





         T Ligety
  
+2800





         G Streitberger
  
+2800





         A Jerman
  
+4000





Each way betting available (click on   to place 2 bets, one with the selection to win and one with the selection to come in first 2 at 1/3 of the odds) 

Sunday, February 21, 2010

 

         Benjamin Raich
  
+500





         Didier Cuche
  
+600





         Carlo Janka
  
+600





         Massimiliano Blardone
  
+600





         Ted Ligety
  
+700





         Aksel Lund Svindal
  
+700





         Marcel Hirscher
  
+800





         Kjetil Jansrud
  
+1400





         Romed Baumann
  
+1400





         Manfred Moelgg
  
+1600





         Davide Simoncelli
  
+1600





         Bode Miller
  
+2500





         Cyprien Richard
  
+2500





         Alexander Ploner
  
+3300





         Thomas Fanara
  
+3300





         Ivica Kostelic
  
+3300





         Jean-Philippe Roy
  
+3300





         Stephan Goergl
  
+3300





         Markus Larsson
  
+4000





         Andre Myhrer
  
+10000





 

Tuesday, February 23, 2010

 

         Kathrin Zettel
  
+350





         Kathrin Hoelzl
  
+500





         Denise Karbon
  
+600





         Tina Maze
  
+700





         Tanja Poutiainen
  
+800





         Tessa Worley
  
+800





         Elisabeth Goergl
  
+1000





         Manuela Moelgg
  
+1200





         Maria Pietilae-Holmner
  
+1400





         Michaela Kirchgasser
  
+1400





         Anja Paerson
  
+1800





         Lindsey Vonn
  
+1800





         Viktoria Rebensburg
  
+2000





         Taina Barioz
  
+2800





         Fabienne Suter
  
+3300





         Julia Mancuso
  
+4000





         Chemmy Alcott
  
+7500





                            

Each way betting available (click on   to place 2 bets, one with the selection to win and one with the selection to come in first 3 at 1/4 of the odds) 

Saturday, February 27, 2010

 

         Reinfried Herbst
  
+220





         Julien Lizeroux
  
+450





         Benjamin Raich
  
+800





         Ivica Kostelic
  
+800





         Manfred Pranger
  
+1000





         Marcel Hirscher
  
+1000





         Mario Matt
  
+1200





         Giuliano Razzoli
  
+1200





         Giorgio Rocca
  
+1200





         Felix Neureuther
  
+1200





         Manfred Moelgg
  
+1400





         Andre Myhrer
  
+2200





         Mattias Hargin
  
+2500





         Bode Miller
  
+3300





         Ted Ligety
  
+3300





         Axel Baeck
  
+4000





         Lars Elton Myhre
  
+5000





         Jens Byggmark
  
+5000





         Markus Larsson
  
+6600





         Patrick Thaler
  
+6600





Each way betting available (click on   to place 2 bets, one with the selection to win and one with the selection to come in first 3 at 1/4 of the odds) 

         D Cuche
  
+350





         M Walchhofer
  
+400





         C Janka
  
+600





         AL Svindal
  
+750





         M Osborne-Paradis
  
+800





         B Miller
  
+900





         K Kroel
  
+1200





         D Defago
  
+1400





         E Guay
  
+1400





         W Heel
  
+1400





         M Buechel
  
+2500





         R Dixon
  
+2500





         C Innerhofer
  
+2800





         M Sullivan
  
+2800





         A Jerman
  
+3300





         A Hoffmann
  
+4000





         H Olsson
  
+5000





         A Theaux
  
+5000





Ean Lamb, Gambling911.com