Nevada opens its online gambling borders
On January 5 2012, the Nevada Gaming Commission took the gambling by surprise when announcing that a regulatory framework for online poker has been approved. Even though Nevada is the US gaming state and has an international recognition in the gambling world, the move towards opening the online gambling boundaries has surely astonished most of the onlookers, considering the Federal Gambling Law prevailing in the United States.
Several states have also considered a similar move but Nevada remains the first and only state to have concretized the move. The regulations around the framework are straight forward and concise and ensure that control, auditing and taxation are to be carried out by officials. As such, all monetary transactions will need to be undertaken by the gambling operator or the inter service provider, which will therefore make it nearly impossible for players to transfer funds to one another.
This implementation of the framework will however allow residents of the Silver State to enjoy the thrill of live poker events starting this year itself. Another interesting requirement outlined in the framework will compel poker room operators to conserve a cash reserve that will ensure there are enough available funds for any eventual payout due to players. This surely is a great measure that should guarantee players a faster payout.
New Jersey should be the next state to act towards a similar move with the prospect of becoming the “the Silicon Valley of internet gaming,” like mentioned by Senator Raymond Lesniak during an interview. With millions dollars of revenues at stake which are already being wagered and lost towards offshore based gambling operators, other states might also walk through the way paved by the Nevada state.
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