Internet gambling prompts fierce debate

The Prophet

EOG Dedicated
Internet gambling prompts fierce debate

Proponents of Internet gambling say a U.S. ban leaves players vulnerable to abuse at poorly regulated offshore Web sites.

The U.S. government would be better off legalizing Internet betting and collecting tax revenue since gambling already is widespread with casinos, race tracks and lotteries in many states, said John Pappas, executive director of the Poker Players Alliance, a lobbying group that claims nearly 1 million members.

Congress shouldn't be trying to make criminals out of people who have taken the game from the kitchen table to the computer table, Papas told The Washington Post in a story published Monday.

While Internet gambling sites are banned in the United States, tens of thousands of Web sites exist worldwide that accept prepaid debit cards, bank wires and electronic transfers from players in the United States, the Post reported.

Critics, however, say Internet gambling in any form should be banned when ever and where ever possible.

It's an underworld wrought with scams and schemes, said Kentucky Gov. Steve Beshear, a Democrat who is leading a state effort to ban online betting.



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The Prophet

EOG Dedicated
Re: Internet gambling prompts fierce debate

Gaming assn. reports spending $400K to lobby in 3Q

Wednesday December 3, 5:17 pm ET

American Gaming Assn. reports spending $400K in 3rd qtr to lobby on Internet gambling rules


WASHINGTON (AP) --
The American Gaming Association spent $400,000 in the third quarter to lobby on legislation to regulate Internet gambling and other matters, according to a disclosure report.

The trade association also lobbied on tax legislation affecting casino gambling and patrons, including Hurricane Katrina tax bills, as well as on employee tip tax compliance.

In addition, the American Gaming Association contacted the federal government about bills that would create a not-for-profit corporation to promote travel to the U.S.

In the July-to-September period, the trade group lobbied the White House, Department of Interior, Treasury Department, Internal Revenue Service and Congress, according to the quarterly report filed Oct. 16 with the House clerk's office.

The American Gaming Association's members include MGM Mirage, Harrah's Entertainment Inc., Wynn Resorts Ltd., Bally Technologies Inc. and other casino operators and gambling equipment companies.

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The Prophet

EOG Dedicated
Re: Internet gambling prompts fierce debate

Gambling Differences Between Ethnicity And Gender

Wednesday, 3 December 2008, 1:56 pm


Study shows gambling differences between Pacific Island ethnicities and gender

AUT University researchers have found significant gambling differences between ethnicity and gender when studying Pacific Island parents in 2006/07, in a project funded by the Ministry of Health.

The findings will advance our understanding of gambling in a population sector that experiences very high levels of gambling-related harm, says Professor Max Abbott, co-director of the AUT Gambling and Addictions Research Centre that conducted the study. They also have relevance to community education programmes around gambling, such as the Ministry of Health?s current ?Kiwi Lives Social Marketing Campaign?.

The newly-released findings show that although gambling participation is substantially lower than in the general population, slightly more mothers (36%) gambled than fathers (30%) in the 12 months prior to the study. For the New Zealand adult population as a whole, two-thirds gambled during the past 12 months, with no gender difference.

Ethnicity is also a key factor in gambling, as it is for alcohol and smoking. For example, Tongan mothers were less likely to gamble than Samoan mothers; however, those who gambled were 2.4 times more likely to be classified as at risk/problem gamblers.

Mothers who drank alcohol were more likely to have a higher weekly gambling expenditure, and correlations could be drawn between frequency and amount of consumption and higher gambling expenditure.

Further gender differences were noted in terms of associations between gambling and health. For fathers, both gambling and at risk/problem gambling were associated with psychological distress and those who gambled were more likely to be perpetrators as well as victims of verbal aggression, than those who did not.

These findings are part of the Pacific Islands Families (PIF) study. The PIF study, being carried out by AUT researchers, has been following 1398 infants and their families for the past eight years.

Professor Abbott says previous studies have indicated that although Pacific peoples gamble less than New Zealanders generally, those who do are much more likely to develop problems and there are differences between the different Pacific cultures in relation to gambling.

?The longitudinal cohort PIF study has offered a valuable and unique opportunity to study gambling and problem gambling within a Pacific family and child developmental context.?

?It has allowed for sub-analysis of major ethnic Pacific groups and the potential to begin identifying risk and protective factors in the development of problem gambling,? says Professor Abbott.

The PIF study is the first longitudinal Pasifika study in New Zealand. The cohort was drawn from children born at Middlemore Hospital in 2000 and researchers have been working closely with them ever since.

The study?s aim is to provide information on the children?s health, cultural, economic, environmental and psychosocial factors considered to be important influences on child health and development and family functioning.

It has gained international recognition for providing connections with the Pacific community which was previously considered a difficult-to-reach group for researchers.

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The Prophet

EOG Dedicated
Re: Internet gambling prompts fierce debate

Growth of the Mobile Gambling Market

2008 was a great year for mobile gambling with total betting volumes doubling in 12 months.

With a projected growth potential approaching 30 billion US dollars over the next five years, mobile gambling is clearly going to be placed in the spotlight. This dramatic rise in popularity is largely due to a subtle shift in attitude from those service providers and end users of mobile technology for gambling purposes.

While Puritan attitudes of many governmental institutions are on the rise, the powers of free speech and civil liberties are also lining up their forces. Attitudes in Europe are still too fluid to pin down, with some European countries willing to welcome the mobile gambling revolution. However, attitudes in the US remain entrenched, and it would seem that little change is expected in that continent in the near term.

While the key area for mobile gamblers is likely to be sports betting, other gambling sectors are also lining up for a piece of the action. With an estimated market size of approximately 500 million individuals, it's clear why big business is sitting up and taking notice of this potential cash cow.

Market research company, Juniper Research has estimated the mobile gambling market winnings could potentially grow from its current volume of approximately 200 million US dollars to something in excess of three billion US dollars by the end of 2013. They suggest that Europe will continue to hold the centre field. However, the US market could outstrip European preeminence should its restrictive practice against the mobile and Internet gambling markets be relaxed.

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The Prophet

EOG Dedicated
Re: Internet gambling prompts fierce debate



Tradesports shuts down as deadline for banks to obey UIGEA regulations approaches.


Tradesports

Update
It is with regret that the owners of TradeSports.com decided to cease the operation of the TradeSports platform.


Since Tuesday November 18th 2008 no new markets have been listed and no new deposits accepted.

On Friday November 21st 2008 all open markets were paused and closed for expiry. The expiry price set for each contract was the last closing price set by the Exchange but cross-referenced with a number of independent other sources to ensure there has been no price manipulation leading up to the expiry. The expiry price set by the Exchange will be final and will not subject to change in any circumstances.

On Friday November 28th 2008 all markets have been expired the Exchange and members may withdraw their funds as normal.

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The Prophet

EOG Dedicated
Re: Internet gambling prompts fierce debate

Traders to collect big on slick bet

Investors who placed summer bets that oil prices would fall below $100 a barrel are set to make huge profits on Monday, with some speculators reaping a return of more than 2,000 per cent in less than six months.

The expiry of the December put options ? derivatives that give holders the right to sell at a predetermined price and date ? means some investors will be selling oil at prices as high as $100-$120 a barrel, well above Friday?s close of $57.04 a barrel.




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