Mike's Poker Blog

Is PartyGaming On Its Way To Settelment With DOJ?

Thu, 05 Jun 2008 05:59:02 GMT

It has been more than a year ever since Party Gaming left US market due to new regulations in United States. Now, Party Gaming wants to settle things down as they are in talks with United States Department Of Justice. According to a source, Party Gaming agreed to pay whooping $1 billion in order to forgive the past violations and no prosecution against them.

This news boosted party gaming stocks up 10% and when asked, Richard Carter of Numis Securities has downplayed the likelihood of a settlement, saying any agreement is still months away from being finalized. As a result, PartyGaming stock lost much of its gain, falling 7.5%.

Tags: PartyGaming, Law

Washington Rejects The Appeal Of Overturning The Law.

Mon, 19 May 2008 07:37:43 GMT

Ohh!, :( its a bad news for all the Washington state people. The case that was pending in the court, to overturn the online gambling law in the state of Washington was rejected recently and thus still makes online poker illegal and class c felony.

I was very annoyed with the decision and was hoping to hear some good news but everything messed up. The Class c felony act is very dangerous and cannot be issued to one who play poker game. I hope some day this law will be changed.

Tags: Washington, Poker, Gambling

Good Sign For Online Gambling Market In EU.

Thu, 08 May 2008 04:47:51 GMT

Online gambling which use to be growing at rapid pace when it was in U.S, is coming back strong once again after it got banned from United States. Many EU nations like France, Germany, Poland, Finland, Netherlands and other nations opposed online gambling and was trying to ban it, on other hand EU commission was putting severe pressure on these nations to legalize online gambling as it is against EU commission free trade of services.

Now France the major gambling hub is planning to legalize as talks are going on with EU authorities, secondly Finland and Poland nations are even giving good sign for internet poker and other online betting games.

Recently Denmark said it will allow foreign gambling firms to operate in their market and will end monopoly. So, over all things are going in the favor of online gambling.

Tags: EU, Nations, Gambling

Denmark Stepping Up For Legal Gambling.

Wed, 30 Apr 2008 07:40:53 GMT

Ever since EU commission puts utmost pressure on EU nations, there has been a good sign of relief for EU authorities, as many major countries has come up in planning to regulate online gambling and allow foreign firm to operate. Poland will legalize gambling in next few months, Denmark govt seeking regulated gambling and France is also ready to change its stance on online gambling.

Denmark is the newest of all in legalizing and licensing online gambling. The local news papers and reports stated that govt is seeking to regulate online gambling, but under very strict rules and regulations. Denmark will allow private gaming firms to take customers from their country.

Things are going in the favor of online gambling these days as United States the major hub of online gambling is also fighting against UIGEA rules.

Tags: Denmark, online gambling, Law

Congress Prefer's Testimony On Online Gambling

Wed, 02 Apr 2008 06:23:25 GMT

Current U.S Law ( UIGEA ):- According to current law on internet gambling in U.S, no financial institutions and credit card companies can transfer payments to online gambling sites.

Barney Franks' Bill ( IGREA ):- According to IGREA , online gambling will be legalized and properly regulated and use of credit cards and other financial instruments will be used to transfer payments to gaming sites.

Now the question raised by the ABA ( American Bank Asociation ) is, they cannot check each and every transaction and its just a waste of time focusing in this matter, rather than focusing on other important and crucial matters regards to countries economy slowdown.

One organization representing offshore gambling companies said today that the banks shouldn’t be wasting their time regulating gambling because they have bigger issues to deal with.

Tags: gambling, law, U.S

ABA Says Not To UIGEA

Mon, 10 Mar 2008 08:30:58 GMT

ABA well known as (American Banking Association ) has drafted a letter to U.S treasury dept ,stating that they are against UIGEA, a very famous bill which outlawed internet gambling from United States on Oct 2006 and asked US banks and other financial institution to ban credit cards from transferring payments to gambling sites.

ABA's 11 page document indicated concern and negativity toward the regulations in their present form as it explored problem areas and raised issues of sufficient severity as to place a question mark over the successful implementation of the UIGEA.

Let us see what treasury dept has to say about the ABA's statement.

Tags: LAW, Online, Gambling, UIGEA

Mobile Gambling Gaining Popularity

Mon, 25 Feb 2008 06:56:34 GMT

No body could have imagined that gambling on internet will bring boom and online gaming will contribute major percentage of revenue in gambling industry. Online poker was the first game which blasted online gambling's popularity followed by Casino's and other up coming games like Bingo and backgammon.

Till date Online Gambling industry is worth $12 Billion and growing, but now gambling has taken new methods and technology in order to enhance the market, now one can play gambling games on their mobile phones too.

First, it was land based gambling then comes online gambling and now new trend, gambling on cell phones or mobile phones. According to a research report published by instructables mobile gambling is growing at a good pace especially in United Kingdom. Mobile gambling market is projected a $2.2 billion market by 2010.

Tags: mobile, phones, poker, casinos

US In Search Of PartyGaming Founders.

Wed, 20 Feb 2008 06:52:10 GMT

According to a news source, US authorities are in search of party gaming founders for their involvements in taking bets from Americans prior to UIGEA . The company is based in Gibraltar and has been negotiating with US authorities.

Following party gaming's exit from the US market has cost them daily poker revenues of $637,000 per day.

'Party Gaming.com is no longer a poker-led, US-dependent and one language gaming operator. We are rapidly becoming a multi-lingual and multi-currency non-US company.”

Tags: Partygaming, online poker

Internet Gambling Could Generate Billions In Revenue.

Thu, 07 Feb 2008 09:13:15 GMT

Congressman McDermott urges United States government regarding legalizing online gambling in the country. The congressman stated that internet gambling legislation could drive billions of dollars in revenue for the American govt and this money can be utilized for welfare of the countries on going slow down economy.

Representative Jim McDermott (D-WA) further added that if include tax revenue system and analyze it, it is estimated that regulating Internet gambling would generate between $8.7 billion to $42.8 billion in federal revenues over its first ten years.

Representative McDermott introduced the Internet Gambling Regulation and Tax Enforcement Act (H.R. 2607), which would tax regulated Internet gambling.

Tags: gambling, internet, law

How To Play Pai Gow Poker

Thu, 03 Jan 2008 06:52:15 GMT

A very happy and prosperous new year to our readers. Today, we are going to look at the types of poker games and shall be discussing one. There are many forms of poker like Caribbean stud poker, Pai Gow Poker (chinese named), famous Texas Holdem poker, 7 card stud, 5 card draw poker and much much more.

Let us see Pai Gow poker one of the types of poker games. We aren't discussing in brief but will be providing a link to a Pai Gow poker article. Where in you guys can learn to play pai gow poker, their rules, strategies and other important stuff involved in Pai Gow poker game. Please post your valuable comments if you find the article inetresting.

Tags: paigowpoker, online poker