Illinois Gaming Board Moves to Ban Video Gambling License
After the accusation of an offer made to the tune of more than five million as an illegal inducement, Illinois Gaming Board has decided to strip down the license of Rick Heidner. This so-called inducement was made to the owner of multiple gambling parlors known as Laredo Hospitality.
The whole sordid deal relates to the decision according to which Gold Rush Gaming was to remove its gambling machines from the 44 spots of Laredo Hospitality Ventures. This deal relates back to 2018 when Heidner was informed that after the acquisition by the new management, Laredo Hospitality has decided to break up its relationship with the Gold Rush Gaming.
This termination of the agreement would have resulted in a huge loss to Rick Heidner, so he met the new owner of the Laredo Hospitality and offered him five million more than he had paid to buy the company. The owner rejected his offer and now taking cognizance of this proposal Illinois Gaming Board has decided to yank vide gambling licenses awarded to Gold Rush Gaming.
Florida to Legalize Sports Betting in 2020
There is a huge pressure building up from the beneficiaries as well as the state senators to legalize sports betting in Florida. According to Senator Jeffs Brandes, the state is losing out on a huge amount of tax revenue. This missing tax collection is attributed to the illegal underground sports betting which is still prevalent in the state of Florida.
According to the latest reports the state is missing more than $100 billion per year due to illegal sports betting. In order to curb illegal betting and to increase the revenue from such activities, Sen. Brandes has introduced a bill that will authorize the state to allow sports betting via Florida Lottery. If this bill gets passed, then the self-service counters of the Florida Lottery will provide the book for sports betting. Apart from this, there is also a suggestion that sport betting licenses will be further provided to businesses that deal in online as well as apps-based sportsbooks.
Ban on Credit Cards to Curb Problem Gambling
As per the latest news, the Gambling Commission of the UK is going to ban the use of credit cards to make bets. This ban is in light of the serious concerns being raised in relation to problem gambling. As per the latest data, more than 20 million residents of the UK participate in active gambling, while more than 10 million people opt for online sites to indulge in different sorts of gambling ranging from slot games to sports betting. This study further indicates that out of the total, 22 percent uses credit cards to make bets thus creating serious financial problems. In light of this revelation, the Gambling Commission has decided to ban the usage of credit cards as it is responsible for increasing the risks for the gamblers who do not gamble with the money they have.
Apart from the risk taken by the credit card holder, there is also the double whammy caused by the high-interest rates charged by the credit card provider which further exacerbates the financial problems. This ban will be applicable to both online as well as land-based gambling institutions with the only exception being provided to the lotteries run for social causes.
The Netherlands Going to Update Gambling Legislation
The government of Netherlands is currently updating its gambling policy for both land-based casinos as well as web-based sites. A part of this upgradation was accomplished in 2019 and it is expected that more legal developments will also take place in 2020. As per the latest data provided by the government, there is a steady increase in the number of people participating in gambling, more so even in the online one. As per the estimation currently, more than two million people are using the services provided by online gambling sites which are based in foreign countries.
Currently, the gambling authority is penalizing all the online gambling sites which are actively approaching its citizens. The companies under the radar are the ones which are providing sites based in the Dutch language; uses Dutch flag; or display Dutch online payment services. In order to regulate the current gambling market, the gambling commission has allowed the companies which follow the Remote Gambling Act. This legislation allows online gambling sites that have been licensed by the gambling commission. The concerned ministry is still polishing out this legislation in order to provide more teeth to it.