GCB Proposes Online Gambling Regulations

By Maria McCoyGoogle

The State of Nevada is working towards creating a legal framework for regulated online gaming within state borders.  The Gaming Control Board of Nevada is planning to have a framework in place by February 2012.  At the U.S. Online Gaming Law Conference, which was held over two days this November, Mark Lipparelli, the GCB chairman, informed that his agency would be ready to investigate the legalization and regulation of an online framework this month.

The current framework under discussion is quite limited.  At this point, the only game on the table is poker.  Essentially, the framework is very similar to the one already in place that allows for sports betting in a number of states across America. 

Lipparelli added that companies that are already licensed to operate casinos in the State of Nevada will be able to complete the online licensing process faster; they only need to prove the proper and safe functioning of their new technology.  New operators will have to undergo a longer licensing process.

Some of the features of the new regulations were given over to the press.  They include a minimum legal age of 21, one account per person maximum, a ban on account transfers between players, and players will be allowed to deposit money via credit card.  The licensees have to hold a $20,000 account available at all times for compliance investigation fees and will have to keep a history of accounts and transfers in print for 5 years.  Additionally, the technology will only be authorized if it can detect and remove bots.

Some of the casinos of California’s tribes are already looking into entering the new market.  Others, however, are less enthusiastic about the legalization of internet gambling.  Some are afraid of the effect it can have on brick & mortar casinos.

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