We have been seeing the same news for what seems to be years, and very little changes in terms of Federal regulation for the game of online poker in the USA. Certainly the State of Nevada has made this form of gaming legal and is currently issuing licenses, but this is for intrastate poker online. The Federal Government has said as much – each state must decide, and legislate for themselves.

However, in December last year, the Department of Justice changed their stance on the matter of legality for online gambling. Basically the Interstate Wire Act of 1961 was revisited, and the DoJ opinion released that only sports betting is illegal. The online poker industry has mobilized rapidly, joint ventures are in place, and Nevada has passed legislation for online poker, while the state of Delaware has made legal the full gamut of casino games for the Internet.

The American Gaming Association has released a white paper, and they represent just about every US casino operator, as well as gambling equipment manufacturers. The report states that $4 billion is spent annually by American who play at offshore casino and poker websites. They peg the potential for the online gambling industry to make between $6 billion and $10 billion annually. Is the payday close for these operators, they seem to think so, but is it time to start picking winners?

The problem is actually three-fold; the industry can only look at the potential for regulating online poker for the meantime. The potential turnover for this game would not be $6 billion and $10 billion annually, only a fraction of this. The second problem is that online poker alone, might not be all that attractive a business proposition for potential operators, and the third issue is certain states will not opt to legalize and regulate, so, it needs to happen on a federal level. In its present position the market is much too small, or too shaky to be a viable proposition.

Overseas we see that online poker sites are closing their doors on a regular basis. While we see PokerStars doing well, they actually monopolizing the marketplace because of their massive liquidity. A good example would be IGT’s purchase of Entraction, only to find that they were compelled to close this poker network. Regulation in Europe is also a tricky task to breach. The Italian industry is failing, France is a nightmare of regulatory red tape, Will Hill Poker is losing business as is Bwin.party and others. Fortunately for 888 Poker, they also seem to be doing something right and their business has grown.

But what we are seeing is that online poker alone is not financially viable in many instances. Operators need to be able to offer the whole range of online gambling games. So, with the exception of Delaware which state apparently sees the bigger picture, very little can change if the Federal Government does not come to the party, and offering online poker without the addition of other Internet gambling games, simply won’t cut the mustard.

There are some fabulous wealth creation ideas and schemes doing the rounds on the World Wide Web. While some are scams, most are pretty genuine, it’s just how you look at the scheme that makes the difference. We all know that knowledge is key to success, so the more we know about any wealth-creating scheme, the better informed we will be. However, if you are prepared to take a gamble, and don’t feel like working for your money, why not take a look at online gambling? There is definitely money to be made, but you must realise that luck counts!

Online gambling – that means over the Internet – is a mainstream industry today. It is regulated by authoritative bodies such as eCogra, and others. Many online gambling firms have gone the IPO route, and are listed on major stock exchanges. The London Stock exchange probably listing the lions’ share of these firms, as the UK is where the online gambling industry is also the most mature.
We find names such as William Hill, Virgin, Stan James, Victor Chandler, Betfair, Paddy Power, Gala, Mecca and Bet365 online, and we find many more too. We find websites powered by major movers and shakers in the online gaming industry; brands such as Microgaming, Playtech and Net Entertainment, and if you think we are scamming you, let’s take a look at the facts.

All three of these software brands operate massive networked slots games. This means there is loads of money going, if only you are lucky enough to win. But there are loads more ways to win when gambling online, than wagering on the slots. After all, even though the prize money is huge, and we are talking in the ‘millions’, slots are still a long…long shot!

More and more people are taking their online gambling and going mobile with it; in other words getting their gambling ‘on-the-go’. The biggest majority of gambling fans getting their thrills the mobile way are the sports-betting clique. In the UK and Ireland growth has been phenomenal.

Now fans take their favourite sports – football being only one – and get some extra pleasure by placing money on it. Online betting exchanges such as Betfair are popular too; it takes the bookie out of the equation, so, fans can decide their own odds, as well as bet against each-others’ predictive powers. Punters find being their own bookie great fun, and it adds an extra element of excitement to the game.

For now, if you are not an advanced punter, and you would like to play online slots to get a better feel for these games, let’s offer you extra incentive. On Christmas Eve 2010 at Bet 365; Tlaloo1 won £3 922 736 playing Clover Rollover. Microgaming has paid out over €320 million worth of prizes and has made something like 17 slots millionaires; including one whopping win of €6 374 434.00, which was once a world record slots win. But Net Entertainment now holds that world record with a massive online slots pay-out of over NINE MILLION EURO. So, prizes are getting better, and yes, there is big bucks to be made.

Currently the Spanish economy is really not doing well. In fact a good number of European countries are struggling and some are looking at internet gambling as an additional revenue stream. Spain is hoping for windfall from online gambling, but as this industry will be brand new, it is hard to say that will actually take place. One thing we can be assured of is that the Spaniards love a gamble, just as much, if not more than the rest of us do – especially considering their love of sports; in particular football.. Whether they will have the money to spend…well that remains to be seen?

The online gambling shake-up takes place this week, and the Government is hoping it will capture and audience as well as some much-needed tax income into their state coffers. Newly licensed companies are currently slugging it out to win to win market share, and there is definitely a sense that online poker and sports betting fans are lining up to take part. The Spanish government is heavily indebted to the EU and others, so, awarded licenses to operators for the first time on Friday the 1st June.

According to the outgoing central bank head – he recently warned that income tax in this country may really fall short as they struggle to refinance €98 billion in debt and deficit of €52 billion.
While the amount of tax to be raised from this new industry is bound to be small in comparison to the size of its debt and deficit, we all know every little bit helps. Online gambling firms will be taxed on gross profits, at between 10% and 25%. There will be no tax on individual wagers, so, it is not at the point of sale.

According to the gaming association, the Spanish market in this industry sector could be worth more than €800 million 0r $1 billion by 2014. So far the sector has been dominated by foreign players, even within Spain, and this includes with Codere – a large Spanish betting concern. With others about to enter into the fray we can’t wait to see what will take place.

Spain has no limit on the amount of licenses it will award, which unlike most European countries. Take for example Germany which is only allowing seven for the time being. So far, fifty-nine gambling firms have applied for these licenses. Only a small portion of the fifty-nine applicants have been turned down, and only those which have not met all the necessary requirements need have fear of being turned down.

Sportingbet and Bwin.party digital (both London Stock exchange listed) are already active in the unregulated Spanish market, and are expected to be main contenders. Betfair, Ladbroke and 888 will be joining the crowd. Currently his online gambling sector is considered to be ‘on fire’. People are also fully aware that if you don’t have an online presence, then there is probably no future for your business. This tenet does not only apply to the Internet gambling industry, it basically applies to us all.

The independent testing and standards company eCOGRA has successfully completed a rigorous assessment by the United Kingdom Accreditation Service to achieve an extension to its International Organisation for Standardisation ISO/IEC 17025:2005 accreditation.

The extension enables the company to include the Danish Gambling Authority’s Technical Standards and Change Management Programme to its area of professional expertise.

"The practical application of this extended accreditation is that, along with other criteria required by the strict Danish regulator, we are now qualified to perform certification work and provide guidance to online gambling companies in the Danish market, and those seeking licenses to operate, " said eCOGRA CEO Andrew Beveridge this week.

The extension qualifies eCOGRA to operate in all five Danish certification categories:

• Gambling functions;
• Business functions;
• Preventative measures to counter money laundering of proceeds and financing of terrorism;
• Vulnerability and penetration testing; and
• Change management

Beveridge says that there has been significant interest in eCOGRA’s capabilities in regulatory compliance, and he is confident that his company’s professional teams of auditors and IT specialists will be engaged to perform certification work for almost a third of Danish-licensed operators.

"Since 2003 we have accrued a considerable fund of experience and knowledge, having conducted literally hundreds of technical and financial inspections, reviews and assessments for many of the leading operators in the internet gambling industry, " Beveridge said. "This has generated more business for us as the regulatory scene in Europe especially has evolved and expanded."

eCOGRA CEO and the Chair of the CEN workshop agreement on "Responsible Remote Gambling Measures", Andrew Beveridge, today welcomed the publication of this first Pan-European consumer protection agreement by CEN.

CEN is the European Committee for Standardisation, one of three European Standardisation Organisations officially recognised by the EU (http://www.cen.eu/). CEN draws up voluntary technical specifications, such as a CEN workshop agreement, to help facilitate a single market for European industry and consumers across its members in 31 European countries.

This CEN workshop agreement on "Responsible Remote Gambling Measures" (16259) defines 9 policy objectives for the protection of online players in the European Union and 134 concrete measures to ensure that those objectives are actually met.

The 9 policy objectives are:

• 1. The protection of vulnerable customers
• 2. The prevention of underage gambling
• 3. Combating fraud
• 4. Protection of privacy
• 5. Fair gaming
• 6. Accurate customer payments
• 7. Responsible marketing
• 8. Customer satisfaction
• 9. Safe operating environment

CWA 16259 shows consensus across a wide range of remote gambling stakeholders – from experts on problem gambling and players to industry representatives and addiction and criminology academics – showing that there is real desire to work together to ensure consumer protection issues are fully addressed as important EU developments unfold.

Andrew Beveridge, Chief Executive Officer of eCOGRA and Chair of the CEN workshop agreement, said "Over the last 7 months, CEN has provided the platform for us to make this agreement to secure the high level of protection for consumers across Europe that is vital for the online gambling industry as it matures. eCOGRA intends to bring into line its own eGAP Requirements with these CWA control measures, thereby benefiting eCOGRA, its sealholders and players."

He added "This is self regulation at its best, bringing together a wide range of stakeholders from across the world for the benefit of the consumer. This agreement can only complement existing industry standards and inform both national and EU regulation of online gambling. It has been an honour to be part of and chair this process."

About eCOGRA

eCommerce and Online Gaming Regulation and Assurance (eCOGRA) was founded by competing online gambling companies seven years ago to improve operational standards and player protection. Accredited companies must comply with practical business and integrity standards, coupled with an impartial inspection, review and monitoring program that authorises them to display the organisation’s revocable Safe and Fair seal.

Since its formation, the organisation has extended its services to cover online casino and poker room operations, Internet bingo, sports betting, mobile and live gambling businesses, and affiliate program best practice through an Affiliate Trust Seal, positioning its influential accreditation within reach of all online gambling companies.

Many of the top software providers in the industry have already been assessed by the organisation, which is recognised by several international online gambling regulators and by bodies such as the European Gaming and Betting Association, which counts most of Europe’s major online operators among its members.

Since 2003, the eCOGRA seals have become synonymous with tier one levels of fair and responsible gaming, professional conduct and high operating standards when displayed on an online gambling website.

Accreditation remains open to all software companies and their operators and affiliate programs. For more information, go to http://www.ecogra.org

About CEN

The European Committee for Standardization (CEN) is a business catalyst in Europe, removing trade barriers for European stakeholders such as industry, public administration, service providers, consumers and other stakeholders. Its mission is to foster the European economy in global trading, the welfare of European citizens, and the environment. Through its services CEN provides a platform for the development of European Standards and other specifications.

CEN’s 31 National Members work together to develop voluntary European Standards (ENs) in various sectors to build a European Internal Market for goods and services and to position Europe in the global economy. By supporting research, and helping disseminate innovation, standards are a powerful tool for economic growth. More than 60,000 technical experts as well as business federations, consumer and other societal interest organizations are involved in the CEN network that reaches over 480 million people.

For further information, please visit: http://www.cen.eu