Set for February 2012, Nevada State is gearing up to begin taking applications to license companies to operate Internet poker sites as reported by the states gaming regulator. Industry professionals attending the two-day U.S. Online Gaming Law conference at Aria on November 10-11, were informed by chairman of the Control Board, Mark Lipparelli who stated, “that the agency would be geared to begin investigations that month.”
The catch is that companies, once licensed, would only be able to offer internet poker play to residents of the state and not beyond it’s borders similar to the way some companies offer sports betting online or by phone. Lipparelli said, “the process should be quicker for companies already holding other licenses in Nevada. Current licensees seeking online poker licensing will have to prove that their technology will be able to limit play to state residents of legal age.
Some of the highlights of the regulations include:
• Legal online gambling age will be 21.
• Licensees will be required to maintain a revolving fund of $20,000 to pay for compliance investigations.
• Players may only have one account at a given operator and may not use fake names.
• Credit cards are allowed as a means to deposit player funds.
• Inter-account transfers between players are not permitted.
• Hand histories must be kept by the operator for five years.
• Operators must take proactive steps to prevent bot use.
California’s tribal casinos also are positioning themselves for the possibility of the legalization of Internet gaming. Although some tribes are uncertain of supporting the bill, Panelists said “the proposals, backed by willing tribes and poker room operators, are riding the momentum of the state’s dire need for tax revenue.”
There is no doubt that this is an exciting time for the gaming industry, and this brings big commercial opportunities. Were all looking forward to the future to see how small changes like these will affect the big picture.
Written by MaggieB.
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