Friday, August 31, 2018

West Virginia Quietly Becomes Fourth State to Launch Sports Betting

Casino News Daily
West Virginia Quietly Becomes Fourth State to Launch Sports Betting

West Virginia quietly became the fourth state to launch legal sports betting after the US Supreme Court struck down in May a federal ban on wagering on professional and collegiate sports leagues.

Hollywood Casino at Charles Town Races in Charles Town, West Virginia accepted yesterday its first bet, thus soft-opening its sportsbook. The casino’s wagering facility is operated by the US division of British bookmaker William Hill.

House Delegate Jason Barrett put the first bet on Thursday to participate in a historic moment for the state’s and the US gambling industry. Delegate Barrett placed $50 on the West Virginia Mountaineers to win the football national championship. He will win nearly $3,000 if that happens. The state lawmaker told local media that it was extremely easy to bet and that it really reminded him of betting on horse racing.

The General Managing Counsel of the West Virginia Lottery, Danielle Boyd, has confirmed the opening of the state’s first sportsbook and has pointed out that the despite the facility’s grand opening on Saturday, it is “officially open” now.

Hollywood Casino, which is owned and operated by Penn National Gaming Inc., will host a larger-scale opening ceremony for its sportsbook tomorrow at 11 am local time. A mobile app that will allow the casino’s patrons to wager while at the property via their mobile phones is expected to be rolled out in the next couple of weeks.

Commenting on the launch of their sportsbook, Hollywood Casino Head of Sports Erich Zimny told local media on Thursday that they are happy that West Virginia has jumped on the betting bandwagon quickly and has thus secured a competitive edge over neighboring Maryland.

A bill allowing sports betting at Maryland’s gambling venues was introduced last year but was voted down by legislators. It is believed that it will be reintroduced next spring. If it gains the necessary support in the state Legislature, it will then have to survive a statewide referendum in order to be enacted.

Exemplary Regulatory Framework

West Virginia was actually among the states that passed a legislative framework ahead of the US Supreme Court ruling in May that allowed individual states to legalize sports betting, if they felt inclined to do so. This facilitated the early launch of sports betting services at the state’s existing gambling facilities.

Commenting on the state’s wagering regulatory framework, Delegate Barrett said that it should be model for the rest of the nation and that he believes they have done it right.

According to preliminary estimates by the West Virginia Legislature, the state’s sports betting industry would contribute additional revenue of around $5.5 million to the coffers during the first year. However, a separate, Lottery-commissioned study presented a much more optimistic picture for additional revenue of between $9 million and $17 million.

Five of the state’s casinos have lodged interest in operating sportsbooks. They were all required to pay a $100,000 licensing fee. In addition, they will have to contribute a 10% tax on adjusted gross sports wagering receipts.

Follow us on Facebook and Twitter to stay up to date on the day’s top casino news stories.

The post West Virginia Quietly Becomes Fourth State to Launch Sports Betting appeared first on Casino News Daily.

RedPing.win Joins LCB Rewards Program

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RedPing.win Joins LCB Rewards Program
RedPing.win Joins LCB Rewards Program

That's right, folks; the LCB Rewards Program is still very much on, and after a couple of restful weeks we are back on track with introducing new supreme casinos into our fold...

...This time around, let's hear it for RedPing.win Casino, who is our latest addition to Program and another place where you can deposit in order to collect LCB goodies.

Young and Promising

Before we get to refreshing your memory of what LCB Rewards is all about, let's have a few words about the latest casino to join our ranks first. The multi-language site has plenty to offer in terms of entertainment. All the leading software providers have gathered there to create a unique gaming environment.

In fact, their slot selection is pretty enormous, and so is the frequency of jackpot and tournament games. Fast cashouts and a plethora of banking options make it a place of convenience and ease of use. A Curacao license is there to provide comfort in knowing that you are in a safe place that cares about its players

The Know-How

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You can find all you need to know about the rules and further instructions on this page as well as the ever-growing list of casinos that are participating...

...Although, another way to see which casinos are eligible is by going to this link and then looking out for the yellow LCB chip icon next to the name of the casino.

We also have a forum topic on the matter that you can follow here, in case you want to stay regularly updated on new casinos, share concerns and report issues or just discuss how awesome the Program is.

All in all, the program is a whole new way of rediscovering your love for gambling and enjoying the little, unexpected perks life has to offer. Have fun!

Doyle Brunson buys Cadillac thanks to winnings at Bobby's Room

BankrollMob News - Poker / Casino / Betting
Doyle Brunson buys Cadillac thanks to winnings at Bobby's Room
Doyle Brunson may be declared retired in his poker pro career according to his Wiki page, but he still is active in playing the game, and everyone who knows him is that one of his favorite venues to play at is inside the famous Bellagio's Bobby's poker room. The 85-year-old 10-time WSOP bracelet winner, thanks to his recent poker session victories in said Bobby's Room, has now treated himself to a brand-new Cadillac Escalade (ranging from $75k to $100k), and he's thanking the poker players he d[...]

Genting Malaysia 2Q net profit more than doubles

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Genting Malaysia 2Q net profit more than doubles

KUALA LUMPUR (Aug 29): Genting Malaysia Bhd’s second quarter net profit more than doubled to RM395.71 million, from RM193.82 million a year earlier, aided by its Malaysian operations.

Visit the Retro 70s with Booming Games new Disco Bar 7s slot release

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Visit the Retro 70s with Booming Games new Disco Bar 7s slot release

Take a trip back in time to the dancing 70s with the new online slot game release by Booming Games, titled Disco Bar 7s. The new disco title is designed for every player, offering funky tunes and fast-paced gaming. It is made up of 3 reels and 10 paylines, with an RTP of 95.96%. Wild […]

Thursday, August 30, 2018

Nayong Pilipino Foundation Slams Corruption Allegations over Casino Project

Casino News Daily
Nayong Pilipino Foundation Slams Corruption Allegations over Casino Project

Nayong Pilipino Foundation officials once again denied corruption allegations and stressed on the legality of the foundation’s deal with Hong Kong casino resort developer Landing International Development that secured the latter with a land plot for the development of a $1.5-billion hotel and casino complex.

Philippine President Rodrigo Duterte fired earlier this month all members of the board of the state-run organization that was established back in the 1970s to run the Nayong Pilipino cultural theme park located in Pasay City in the Metro Manila area.

Earlier this year, Nayong Pilipino Foundation penned an agreement with Landing to lease the land previously occupied by the above-mentioned theme park for the development of an integrated resort with a casino floor, hotels, and multiple non-gambling entertainment options. The site is located within Entertainment City in the Manila Bay area and not far from where the Philippine capital’s three operational integrated resorts have been built.

The Hong Kong-based developer broke ground on the property earlier this month. However, President Duterte announced hours after the ground-breaking ceremony that measures will be taken to block the materialization of the mega-plan.

The Philippines’ top official said that the lease deal was flawed and “grossly disadvantageous” as the lease period was “ridiculously long” and the lease rates were too low. In addition, the members of the Nayong Pilipino Foundation were accused of corruption.

President Duterte also ordered the Department of Justice to carry out a review of the lease deal. DOJ officials announced earlier today that the probe was completed on Wednesday but refused to reveal more details about the department’s findings.

Nayong Pilipino Foundation Slams Corruption, Graft Allegations

In a written statement released across several local news outlets on Wednesday, the foundation said that it has followed “all procedural and legal requirements” before the project was launched and that its members were “falsely and maliciously accused” of corruption.

Under the terms of the deal between Nayong Pilipino Foundation and Landing, the latter agreed to lease the portion of land for a period of 25 years with an option for an extension of the deal for another 25 years. In his comments against the deal, President Duterte has pointed out that it was a ridiculously long one and granted Landing permission to use the land for a period of 70 years and operate a casino on it. And the official has repeatedly pointed out that no other casinos beyond the existing ones would be allowed in the country.

The foundation stressed that a 70-year lease period has never been discussed by the two parties and that the initial lease period could only be extended to 50 years if the Philippine Tourism Infrastructure and Enterprise Zone Authority classifies Landing’s development as a tourism project.

As for President Duterte’s comments that the lease price was too low, the foundation said that Landing has agreed to pay PHP360 per square meter per month for the 9.57-hectare property and to contribute 10% of the net profits from the three theme parks that are planned to be developed as part of the integrated resort, which effectively raises the lease price to PHP570 per square meter per month. The foundation’s statement further read that Resorts World Manila pays PHP156.66 per square meter per month for the 5.4-hectare site it occupies, a price significantly lower than what Landing has agreed to pay.

The post Nayong Pilipino Foundation Slams Corruption Allegations over Casino Project appeared first on Casino News Daily.

Casino News Report - August 2018

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Casino News Report - August 2018
Casino News Report - August 2018

We present our new and punchier domain name, explore the many ways LCB membership can put a smile on your face and get in on the latest casino action with exclusive bonuses and the hottest additions.”

This is LCB News and here’s our monthly review.

 

Hi LCB’ers! It’s great to see you for another exciting monthly recap. And this time we’re thrilled to announce that we’re now officially live with the new domain - LCB.org!

Latest Casino Bonuses has been around for some time now, more precisely since 2006. And over the years the site has become better known for its acronym - LCB, which is why we made a logical decision to change the name to a punchier yet equally familiar domain - LCB.org.

Please note that nothing will change for our members – just login with your existing account details to get the same awesome perks as before.

 

One of those perks are the tournaments, including our exclusive freerolls which you can browse and subscribe to on the members only forum. Don’t’ miss out on the action from reputable casinos most of which also accept players from the US, as we're pretty sure you'll be able to find one that’s just right for you.

 

Our members only section is also home to our monthly contests! As you have probably noticed we are particularly keen on sharing posts about pets and animals in general, so we decided to dedicate our August contest to our loving pets. The rules are quite simple: if you have a pet or you've seen an insanely cute picture or video of an animal, then you just have to share it with us.

Thanks to everyone for taking part in bringing the level of cuteness and humour to unprecedented levels; and if you missed this one then be sure to subscribe to the thread to receive a notification when the next contest goes live!

 

Now, we’ve got two featured casinos of the month for you to check out, including the US-friendly Lucky Creek. It’s powered by Saucify and Rival and is jam-packed with exclusive bonus offers which are available to new and existing players, including a $3 LCB reward chip that you get on your first deposit if you register through our link.

Our second pick for the month is EU and UK licensed casino and sportsbook TonyBet for which we also have an exclusive bonus up for grabs for all new 18+ players this month. Better yet, if you decide to make your first deposit now, then make sure to claim the fantastic Monster Millions Promotion which is valid until 15th October!

Should you have any questions or suggestions, you can always contact TonyBet’s Casino Rep who signed up to our Direct Casino support section in June.

 

As always, we’ve got some new casinos for you to play around with as well, and one of them is literally instant-play: Ninja Casino. So, if you’re from Finland or Sweden then you get to play without registration and enjoy instant cashouts!

Jokaroom is another new brand which has games from developers like Quickspin, iGTech and Betsoft, and is also among the few which accept players from Australia.

See our full casino reviews with top tips and related news for more info and be sure to share your own thoughts to get more of those LCB credits and so other members can benefit from your experience as well.

 

Speaking of activity, don't forget to check out our monthly LCB leaderboard contest as we continue to reward the most active members with some extra cash that you can spend in our exclusive shop.

Visit us daily, leave your feedback on casino reviews, follow the news, interviews and editorials and tell us what you think. Do that and you just might see your name among the honoured winners next month!

 

That’s the report for this month.

Hope you liked it and be sure to share your thoughts on it in the comments section so we can continue to deliver the best content possible.

You can also find us on Facebook, Twitter, Google Plus and YouTube.

As always, play responsibly and stay tuned for more news coming soon!

Pharmaceutical Company Signals Interest in Mystery Casino Resort Project in Europe

Casino News Daily
Pharmaceutical Company Signals Interest in Mystery Casino Resort Project in Europe

Canadian pharmaceutical company Easton Pharmaceuticals Inc. announced on Wednesday that it has entered into a Letter of Intent to participate into a project for the development of hotel and casino resort in Europe.

The location of the future property and other details about it have remained undisclosed and more information is expected to be released in the coming weeks, once the ongoing negotiations are closed. The company is set to partner with the American gaming arm of a Canadian holding and investment company that is spearheading the project.

Easton said in a press release from Wednesday that the planned integrated resort will feature a casino with 1,000 slot machines and 50 gaming tables, a hotel with 538 rooms and VIP suites, retail space, a showroom, a spa and wellness center, different food and beverage options, a convention facility, and a 504-space parking garage. The property will be a high-end one in “an idyllic river” area. It is projected to generate annual revenues of more than €77 million.

Easton Pharmaceuticals CEO Evan Karras said in the Wednesday press release that they anticipate the property to be among the most prominent of this kind when it becomes operational. The executive further noted that his company’s participation in the project is part of its strategy to expand its presence in the global gambling industry. The deal is expected to create “value and growth” for Easton Pharmaceuticals, Mr. Karras added.

Second Casino Project in Europe

This is the second European casino project Easton has announced interest in participating in over the past several weeks. Earlier this month, the company confirmed that it has begun discussions with involved parties over the acquisition of an interest or participation in the acquisition of an already operational hotel and casino resort in Greece.

According to a company press release from last week, the property in question features a casino with 1,000 slot machines, 87 gaming tables and a VIP area, 255 hotel rooms and 20 suites, a private beach, eight restaurants, a spa and wellness center, and convention facilities. The property is one of Greece’s nine operational casinos.

Mr. Karras participated in the privatization of the South European country’s gambling sector back in the 1990s and, as stated in a press release from last week, has established strong relationships with representatives of that industry. In addition, the businessman has been familiar with the operation the property his company has expressed interest in.

Easton has not revealed further details about the property it is planning to get involved in the operation of due to the confidential nature of the ongoing negotiations. The company is expected to release additional statements once in the coming weeks after the expected completion of the ongoing discussions.

Follow us on Facebook and Twitter to stay up to date on the day’s top casino news stories.

The post Pharmaceutical Company Signals Interest in Mystery Casino Resort Project in Europe appeared first on Casino News Daily.

Wednesday, August 29, 2018

Should Atlantic City Casinos Be Worried About Growing Competition From Nearby States?

Should Atlantic City Casinos Be Worried About Growing Competition From Nearby States?
chess competition

Outside gambling competition is an issue for Atlantic City casinos as East Coast markets that once funneled gamblers onto the Boardwalk expand.

The post Should Atlantic City Casinos Be Worried About Growing Competition From Nearby States? appeared first on .

Ukraine reclassifies Poker as a Sport, exempts Game from Anti-Gambling Laws

BankrollMob News - Poker / Casino / Betting
Ukraine reclassifies Poker as a Sport, exempts Game from Anti-Gambling Laws
It looks like poker in Ukraine could potentially be able to flourish once again right after the country's Ministry of Youth and Sport decided to re-classify the game as a sport, thus exempting it from the country's anti-gambling laws. Earlier this month, the Ministry of Youth and Sport published document 3780. Written in Ukrainian language, the translation says that "II.119 sport poker" is now included on the country's Register of Recognized Sports. Ministers switch back and forth on [...]

Online gambling firms remove restrictions on cash withdrawals

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Online gambling firms remove restrictions on cash withdrawals

Two online gambling firms must now make it easier and fairer for players to withdraw their cash following CMA action.

Slotland’s Provably Fair System Explained

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Slotland’s Provably Fair System Explained
Slotland’s Provably Fair System Explained

With the introduction of cryptocurrencies into the iGaming space came new provisions to ensure fairness. Slotland is among the providers with its very own brand of ‘Provably Fair’ games available at CryptoSlots. The purpose is to generate the proof in the virtual pudding – insurance that every play is fair without any outside manipulation - and makes it available for player review. For a thorough explanation of the system, we turned to the source, Slotland’s one and only Jack Jelinek. His description of the system is among the simplest we’ve ever read and it’s sure to give LCB’ers an enlightened take on the PF concept.

Q: To begin, give us an intro to Slotland’s own Provably Fair system and how it works.

A: Firstly, thank you very much for the opportunity to outline the awesome concept of Provably Fair casino games here at CryptoSlots is Slotland Entertainment’s most recently launched brand, a cryptocurrency only casino which goes the extra mile in guaranteeing fairness. All games at CryptoSlots fall under the category of ‘Provably Fair’ and utilize the technology that allows players to verify the fairness of every single game result. This makes our brand stand out: many casinos may boast that they are a Provably Fair casino, but the vast majority only apply the concept to a small, select number of their range of games. Every single game at CryptoSlots is PF, and our system is also unusual in that we guarantee at least one winning spin within the random set of possible results. As brilliant as this concept is, some brands also fail miserably when it comes to explaining what it is and why it is so important for players. At CryptoSlots, we try to make it easy to understand and easy for players to use it for themselves to prove fairness.

So, what is it all about? None of us like to feel cheated. Yet when we play at online casinos, we only see what is displayed on our screen and have no idea how it works from the other side. How can you be sure that the cards have been properly shuffled without seeing the complete deck? Is there a chance that a casino will pay out less if you increase your bets? This is where PF comes into play. The technology allows all players to confirm the fairness of any game result, be it the draw of a card or the spin of a slot.
Back in the day, kings would stamp their precious scrolls with a royal seal to ensure that it reached the receiver untouched. If the recipient sees that the seal is intact, it guarantees the authenticity of said document – nobody broke the seal and tampered with the contents.

What does this have to do with Provably Fair? PF is essentially a mathematical method used to ensure that no one, neither the player nor the casino, can tamper with the game result. The player is presented with a concealed set of possible game outcomes, called a server hash, before each spin. The server hash acts as the seal. The player then steps into the game, by selecting a simple value that will influence the final result of the game, called the client seed. The final result is called the server seed, i.e. the scroll with the message. When the game ends, the player can check to see that the end result matches with the initial set of possible game outcomes, to prove that the game outcome was random and fair.
Errr, don’t worry everyone. My further answers would be much shorter. I promise ;)

Q: Is it specific to Bitcoin or does the system work for various virtual currencies?

A: It was originally introduced by a cryptocasino, in order to verify the authenticity of a card deck shuffle, but PF is not tied to Bitcoin or any other cryptocurrency. The concept bears some similarity to the way Bitcoin transactions can easily be verified in that it is recorded on a public ledger, the blockchain. Provably Fair was inspired by blockchain technology but it is considered a separate layer of player protection and can be easily utilized by any online casino, whether it deals with cryptocurrencies or not.

Q: When it comes to casino games for virtual currency users, the Provably Fair system takes the place of RNG, right?

A: This is where our take on PF strikes a difference. Some other brands may be using PF system instead of RNG, which appears logical at first, but the game results generated this way on slot games are, in our opinion, boring as hell. It often produces either many consecutive non-winning spins, or there is little difference in the winning spins, e.g. many with low return on bets. To prevent this, we keep RNG in place to generate a set of game results, and we use PF to guarantee that the outcomes have not been tampered with. In this way, our game results undoubtedly give a more exciting variety of outcomes.

Q: Is the system applied to games other than slots?

A: Yes. PF originally started as a means by which online players could verify that a deck of cards was not tampered with after shuffling in a poker game. It ensured that the player could decide where to cut the deck, using the client seed, not the casino. In general, it can apply to almost any game of change. At CryptoSlots, we offer PF video poker as well as PF slot games. The concept works in a slightly different fashion, basically offering the player a guarantee that the deck of cards was not tampered with once shuffled. To go into detail, before the cards are dealt they are randomly shuffled using an algorithm based on a random number generator. This then allows the player to step in and select where to cut the deck of cards. At the moment we offer video poker and slots but more PF game types are on the horizon, so keep returning to CryptoSlots and watch this space!

Q: Is there a requirement for the system to be fully compliant, certified and accepted by regulators?

A: When implemented properly, PF works as sort of a ‘certificate of trust’ on its own. It proves that the casino doesn’t tamper with its game results, and hence diminishes the need for auditing, certification, and regulation authorities like eCOGRA. Players are independently able to verify the fairness of every single bet they make. PF is still, however, only one part of the whole formula. It obviously cannot guarantee the legitimacy of any particular online casino, or prove its ability to payout to any big winners.

Q: How important is it for all operators to ensure bets are provably fair?

A: As I have just mentioned, operators can greatly benefit from introducing the PF scheme. It not only gives players a guarantee that the house plays by the rules, offering an extra layer of transparency, but it also reduces the need for various auditing, certification, etc. And as a cherry on top, employing PF also clearly shows that the operator has embraced the future and is capable of exploring new ways on its journey to provide players with the best possible experience. For players, PF may not provide an absolute guarantee that a casino is 100% honest, it cannot, for example, guarantee that players will receive their winnings. But it certainly indicates that the casino understands and honors the importance of fairness. This is especially true if all games fall under the category of PF, as at CryptoSlots.

Q: For players concerned with the possibility of cheating the system, how does Slotland Entertainment monitor and/or ensure this doesn’t happen?

A: While the core PF system may appear to be bullet-proof, on the casino’s side there are still some issues that it cannot solve, i.e. bonus abuse, multiple accounts, etc. So, we do still undertake the usual checks and monitoring the system is a must. The bottom line is that, at CryptoSlots, we want there to be trust between us and the players. We ensure that all members can expect fairness and variety each and every time they play.
So, I look forward to seeing you at the games!

Tuesday, August 28, 2018

On A Roll: Atlantic City Casinos Handing Out High Number Of Jackpots In 2018

On A Roll: Atlantic City Casinos Handing Out High Number Of Jackpots In 2018
Atlantic City casino jackpots

Through Aug. 18, Atlantic City casinos have reported a total of $21.9 million in jackpot wins of more than $50,000, making the first half of 2018 more profitable than each of the previous three full years.

The post On A Roll: Atlantic City Casinos Handing Out High Number Of Jackpots In 2018 appeared first on .

David Herbert Director of Non-Gaming Operations

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David Herbert Director of Non-Gaming Operations

Leading casino operator Genting UK has launched a brand new, state-of-the-art Diamond Spins™ Video Slots game, developed by International Gaming Technology (IGT).

 

Michael Copeland Takes Down WPT500 Los Angeles for $181,950

Casino News Daily
Michael Copeland Takes Down WPT500 Los Angeles for $181,950

The 2018 edition of the WPT500 Los Angeles is now in the books. The tournament drew 2,509 entries who challenged their luck and tested their skills against each other at one of California’s hottest poker destinations – The Bicycle Casino. In the end, it was Michael Copeland who posed for a celebratory picture and then pocketed the first-place prize of $181,950 for outlasting his many opponents.

The final day of the tournament was played on Monday at the host casino. Nine players returned to play the final table and determine the champion. And Copeland led them into that final stage of the game with a massive chip lead.

It was a relatively short day at The Bike. The final table took less than four hours for the start-of-the-day field of nine to be whittled down to the champion. The first elimination occurred half an hour into action when Alexander Beleson’s [Ac][Qs] ran into Jorge Pineda’s pocket aces. An ace on the flopped pretty much sealed it for Pineda, while Beleson hit the rail for $17,790.

Players walked out one after another until there were just two players left at the table. More about the heads-up duel shortly. It is first important to note that Copeland entered the final day of the WPT500 as the chip leader with a massive advantage over the rest in contention with his stack of 19 million. And he never really lost momentum throughout the day.

The eventual champion was the first and only one to pass the 30 million chip mark yesterday. That happened during three-handed play. At that point, he was in possession of half of all chips in play.

Heads-Up

Copeland faced Pineda heads-up. The eventual winner had nearly three times more chips than his final opponent at the time cards were thrown in the air for the two-handed match. And it was not a long battle. It actually took around ten minutes for Copeland to finish off his last opponent.

On what turned out to be the final hand of the tournament, Pineda shoved pre-flop for 10.125 million and Copeland called. The eventual winner flipped over [Ac][Jc] to Pineda’s [10c][9h]. The board ran out [Ad][10s][8c][8s][4s] to bring the tournament to an end. Pineda hit the rail in second place, good for a cash prize of $120,610.

The WPT500 Los Angeles was the second event of the WPT500 series to take place this year, which means that it closed the popular WPT brand’s fifth season. The event featured a record number of starting flights – 16 overall. As mentioned earlier, it attracted a little over 2,509 entries who paid a buy-in fee of $570 to generate a prize pool of $1,254,500. Each of the nine players who played the final table was guaranteed a minimum cash of $17,790. And the winner scooped a first-place prize of $181,950, the WPT500 champion’s trophy and another trophy from the host casino.

The post Michael Copeland Takes Down WPT500 Los Angeles for $181,950 appeared first on Casino News Daily.

Kentucky Lawmakers Look to Take Small But Very Precise Steps on Sports Betting Legalization

Casino News Daily
Kentucky Lawmakers Look to Take Small But Very Precise Steps on Sports Betting Legalization

It has been three months since the US Supreme Court struck down the 1992 nationwide ban on sports betting. The historic ruling led up to the legalization and launch of sports betting offering in several states and started discussions over the potential of a regulated sports betting industry in multiple other states.

Delaware, New Jersey, and Mississippi were the first to roll out wagering products, while West Virginia and Rhode Island are gearing up for the launch such offering in a regulated environment. Interest in sports betting has also been picking up in Pennsylvania, where two of the state’s 12 casinos have applied for permission to offer such products to its customers. The regulation of sports betting in the Keystone State comes as part of a sweeping gambling expansion process that will also see the provision of online gaming services to residents.

And while the above states decided to jump on the legal wagering bandwagon very shortly after the long-running ban was lifted, Kentucky lawmakers have taken a more cautious approach.

Three sports betting bills have been introduced in the state Legislature so far, but all three are yet to pass a committee vote. It can be said that former Kentucky Governor and current Senator Julian Carroll is leading the sports betting drive in the Bluegrass State. The legislator submitted a bill on the legalization of sports betting in the state in June.

He is also part of a nine-member working group that was assembled shortly after the SCOTUS ruling and vested with the responsible task to create a feasible sports betting regulatory system that will be discussed more broadly in the state Legislature during the next legislative session. With that said, Kentuckians will clearly have to wait at least until next year to be able to wager on professional and amateur leagues.

The nine-member working group, comprised by both Senators and House Representatives and members of both parties, has had two meetings so far. And according to a report from Sports Handle, the second meeting saw two important decisions being made – taxation of regulated sports betting operations and integrity fee for professional sports leagues.

Tax on Net Revenue

In an email to Sports Handle, Sen. Carroll has said that the group has decided on the basis for taxation when and if sports betting is legalized in the state. Wagering will thus be taxed on net revenue, but a rate is yet to be determined by lawmakers.

The taxation decision represents a major diversion from Sen. Carroll’s bill from June this year. The lawmakers called for taxing sports betting on handle. The proposed structure mirrored how pari-mutuel wagering, which has been legal in Kentucky for some time now, was taxed, the lawmaker explained in previous comments on the piece of legislation.

However, it can be said that net revenue is globally recognized by gambling companies serving regulated markets as the most reasonable basis. In other words, taxing sports betting on handle could have affected Kentucky’s lure to major sports betting companies. And it is believed that the state could be really attractive to global gambling giants, particularly when bearing in mind its rich horse racing heritage.

No Integrity Fee

With sports betting growing into an almost nationwide mainstream venture, more and more parties are becoming aware that what could turn into an industry worth hundreds of billions of dollars is currently in the making. And more and more parties want a piece of that large and juicy pie.

The US professional sports leagues have become particularly vocal about their right to benefit from the legalization and regulation of sports betting. NBA Commissioner Adam Silver has been among the staunchest supporters of the idea that the NFL, NHL, NBA, and MLB deserve to receive a cut of the profit. In June comments, Mr. Silver said that the NBA alone will spend more than $7.5 billion on preparing the upcoming basketball season. And given the fact that that product will be used by casinos, betting halls, and other facilities to generate a profit, they feel they should receive an integrity fee just as musicians receive a royalty for their music that is being streamed all around.

During their latest meeting, the nine members of Kentucky’s sports betting legalization working group have decided that the state’s law on the matter would not include the distribution of an integrity fee to the nation’s professional sports leagues. It is also important to note that the six states that have legalized sports betting so far have not introduced an integrity fee as part of their regulation effort.

What Is Next for Kentucky’s Sports Betting Regulation Effort?

The nine lawmakers tasked with crafting the state’s sports betting regulatory framework have quite some work to do. For instance, they will have to decide where sports betting will be offered and who will regulate the industry.

Kentucky does not have commercial Las Vegas-style casinos. On the other hand, the state is home to nine racetracks, including the extremely popular Churchill Downs which annually hosts the Kentucky Derby. Under Sen. Carrol’s bill, sports betting will be allowed across the state’s horse racing venues.

Under a bill filed in the House of Representatives, the state lottery will regulate the provision of sports betting in Kentucky and sports betting products will be offered across retail lottery outlets, in addition to the nine racetracks.

Tax revenue distribution is another important matter that will have to be decided upon. The Senate bill looks to close a very huge and important gap and focuses on the state’s cash-strapped pension systems. It is yet to be seen whether that proposal will make it to the final draft of Kentucky’s sports betting legislation.

Sen. Carroll has said in his e-mail to Sports Handle that their most important goal is to protect Kentucky’s citizens, despite the potentially huge revenue source that will be created with the legalization and roll-out of a regulated sports betting product.

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The post Kentucky Lawmakers Look to Take Small But Very Precise Steps on Sports Betting Legalization appeared first on Casino News Daily.

Trio Of Treats: Highlighting What’s What At The Three NJ Online Sports Betting Apps

Trio Of Treats: Highlighting What’s What At The Three NJ Online Sports Betting Apps
three cupcakes

DraftKings Sportsbook finally has competition from playMGM and SugarHouse Sportsbook. The three NJ online sports betting sites offer a variety of features, and here are the highlights.

The post Trio Of Treats: Highlighting What’s What At The Three NJ Online Sports Betting Apps appeared first on .

Monday, August 27, 2018

Imperial Palace Saipan developer requests two-year deadline extension

World Casino News
Imperial Palace Saipan developer requests two-year deadline extension

In the Commonwealth of the Northern Mariana Islands, Imperial Pacific International Holdings Limited has reportedly asked officials for permission to extend the construction deadline for the first phase of its giant Imperial Palace Saipan integrated casino resort by over two years. Official appeal lodged: According to a report from the Marianas Variety newspaper, the official […]

Winneroo Rebrands To Crystal Spins

Latest Casino Bonuses
Winneroo Rebrands To Crystal Spins
Winneroo Rebrands To Crystal Spins

In an ever-changing world of online casinos where brands get overnight overhauls and expensive upgrades, it has become almost unusual not to relaunch under a new name at some point.

One such venue is CrystalSpins, or Winneroo, as you might have known it up until last week. That’s right, the website is now fully live under a new name, but no need to worry though – player accounts including usernames, passwords and payment details have remained exactly the same.

On the other hand, a couple of things have changed, as you might notice on your way to the login page. The brand’s domain extension and logo now look completely different… pretty logical, isn’t it?

The Kitchen Dance Is Still On

The initial offer and other accompanying deals have also remained unaltered, meaning that the links and banners have been updated automatically. Players can still take pleasure in daily spins, loyalty perks, fringe VIP benefits, plus a chance to earn referral bonuses and exclusive rewards!

Furthermore, the signature kitchen video is still playing, so if you need a good occasional laugh, feel free to jump to their homepage and take a quick view… it’s quite hysterical!

What’s The Color of…

Winneroo, or CrystalSpins to be precise, has a very modern and user-friendly touch, thanks to its well-designed interface and a carefully picked color palette. There aren’t too many categories on deck, and navigation is reduced to minimum for better user experience. That being said, you can either take a look at the site’s games portfolio or the promotions… provided you have successfully logged in.

The most important aspect of every casino is, of course, its gaming collection, but checking out terms and conditions, as well as payment methods and processing times is equally important. You will not find a massive gaming platform should you decide to pay them a visit, but you will also not lack any category, since all titles are sorted according to the genre they belong to.

The hottest titles at this moment are Blood Suckers, Asteroids, Guns n Roses, Blackjack, Elvis The King and so on… Have a look around!

WPT Announcer to Star in Upcoming Film �Walk to Vegas'

BankrollMob News - Poker / Casino / Betting
WPT Announcer to Star in Upcoming Film �Walk to Vegas'
Vince Van Patten, an announcer for the World Poker Tour, who co-wrote and starred in an upcoming poker film. After the movie Molly's Game that was released last year, poker fans have a new movie coming their way very soon and its main cast is the World Poker Tour's Vince Van Patten. According to IMDb.com, "Walk to Vegas" is based on a true story about Hollywood big shots who will bet on anything. The film was written by Van Patten himself and Steve Alper. It was directed by Eric Balfour who ha[...]