Monthly Gambling Laws Update
Michigan Legalize Sports Betting and Internet Gambling
It became official when Governor Gretchen Whitmer signed the bill to allow sports betting and internet gambling to be legal in Michigan. The passing of this legislation will now allow casinos to set shops to accept wagers for sports through online sites. Under the new law, the tax imposed on the winnings from sports betting stands at just 8.4 percent, while poker and other online games will have to pay a tax ranging from 20 to 28 percent. The best thing about this legislation is that the revenue generated from these activities will be used to support the School Aid Fund along with the Responder Coverage fund. The expected revenue to be generated from this law stands between somewhere between 18 to 20 million dollars. This revenue will help both of the funds mentioned above to the tune of four million dollars each. The other point about this new gambling law is that it will give the same status to the tribal casinos as provided to the casinos operating in Detroit.
Slovakia Enacts New Gambling Act
There had been several considerations which were required to be addressed as far as the Act number 30/2019 Coll related to gambling law was concerned. The latest amendments in the existing law have tried to lessen some of such concerns. As per the older version, state-owned gaming operator Tipos was provided with the monopoly to provide online casinos. For other such activities, operators registered in Slovakia were only allowed to do so. The new act now permits all of the gambling entities registered with member countries of the European Union or the ones which are part of the European Economic Area. The only exception in this law is for the lottery operations run by the state government which includes numbered lottery and bingo. All the Slovakian companies which want to operate with foreign capital are required to have their shareholders from either the European Economic Area or from the Organisation for Economic Co-operation. Some major players like William Hill and be365 casino are monitoring the situation. The amount of capital required to run gambling operations in Slovakia depends upon the type of games being provided by the operator. It is roughly estimated that running casinos, online casinos, sports betting and bingo may involve a minimum capital requirement of €1,800,000.
NFL Suspends Player on Betting Charges
In an unprecedented move, NFL has suspended Josh Shaw from Arizona Cardinals till the end of the next season. This suspension is evoked in the light of the fact that Josh Shaw made bets on the NFL games while being on the injured list. It is the first time that such a heavy penalty has been imposed on a player. Even though there was ample evidence to indict Josh Shaw for betting but there are no instances in which he may have used insider information to bet. Even his coaches and teammates were not privy to his involvement in making bets on the NFL games. In spite of these observations, the NFL took a hard stand and suspended him for the whole season. The other setback for the player is the condition that he will not be able to make an application for his reinstatement until or after February 15, 2021.
Chicago Casino Hits a New Obstacle
After the initial phase of hope and of something being achieved, the much-touted Chicago casino has now again hit a new hurdle. After years of deliberations and consultations, lawmakers from Illinois were able to make required changes in the existing gambling law to pave a way for the massive expansion in the field of gambling. This was initiated by allowing a Las Vegas type casino to run in their city. Now this new logjam in this project requires that the city must convince the lawmakers to opt for a plan which makes the running of casino more profitable. Apart from this, there is still confusion related to the expected location of this casino. As per the details provided by the sources, the location and the design of this casino are still unknown. There are five sites which are under consideration but most probably it will be the one which is near to the city’s center. It should be noted that while the talks are still going on this subject, state lawmakers had already passed a bill related to building five more casinos in addition to the ten that already exist in Illinois. They had also approved bills related to sports betting, horse racing and slot in the casinos.