Posts Tagged ‘sports betting’

New Jersey Online Poker brings Pro Sports into the Mix

Thursday, January 9th, 2014

Aside from a few scandals (see 1919 Chicago White Sox), there has always been a clear separation between American professional sports teams and gambling. Sure people love to gamble on sports in the United States. But as for a pro sports team aligning itself with a gambling entity, well, that’s usually been a clear no-no over legality/fear issues.

However, the unthinkable has happened after the Philadelphia 76ers and New Jersey Devils signed a deal with bwin.party digital entertainment. Not surprisingly, these are the first two US sports teams to ink such a deal with an online gambling company.

As many poker players know, bwin.party runs the Party Poker site in the legalized and regulated New Jersey online gaming market. Seeing as how the New Jersey-based Party Poker has nothing to do with sports betting, neither the NBA nor NHL have a problem with this deal. So for the first time ever, we may see US professional sports teams promoting gambling sponsors on their uniforms and/or team merchandise.

As for the New Jersey online poker operation, business has been pretty good so far. Nearly 150,000 accounts have already been created, which is quite impressive when you consider that the Garden State has a population of roughly 8.6 million people.

Most Wall Street analysts believe that New Jersey internet poker will generate between $200 million and $300 million in its first year. This is far below the over-inflated predictions made by Governor Chris Christie, who said that he expected $1 billion in revenue by the summer. But it’s definitely a nice piece of the internet poker pie.

Given that New Jersey now has professional sports teams that’ll be advertising for them, their number of players only figures to boost revenue figures even more.

Online Poker removed from Wire Act – Legal Now?

Monday, December 26th, 2011

In a surprise bit of news the other day, the US Department of Justice clarified the Wire Act of 1961, and stated that online poker is no longer considered in violation of this law.

This is a pretty big victory for online poker in the United States because the Wire Act outlaws gambling when it crosses from state to state. Seeing as how internet poker no longer falls under the Wire Act any longer, it’s not technically illegal.

Of course, it was never “illegal” for people to play online poker – except in the state of Washington – but it’s still good news that federal lawmakers no longer consider internet poker breaking the law.¬†Instead, the only online wagering activity that the US government views as illegal now is online sports betting.

So does this mean that lawmakers are turning a blind eye towards online poker and chasing after sports betting operations instead? Absolutely not, and you can still expect the UIGEA to continue hampering US online poker until regulation and legalization is set in motion.

After all, the UIGEA prevents banks from dealing with gambling-related transactions, and this is the big reason why some poker sites have committed bank and wire fraud in order to service players. They need ways around the current laws, and unfortunately, these methods have turned out to be illegal in certain situations.

So while online poker may not fall under the Wire Act anymore, we still have a ways to go before those in the US are playing poker free and clear. With talk of regulation some time in 2012 or 2013, it may not be an eternity before the United States sees a better structure in place for online poker players. But we’ll have to wait until that day actually comes.