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Gambling in the USA

Regulatory Modernization Essential to Overcoming Disruption in the Gaming Marketplace

George Miller

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Regulatory Modernization Essential to Overcoming Disruption in the Gaming Marketplace
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New Report Highlights Recent Reforms in Ohio, Michigan, Nevada, Pennsylvania and Mississippi

 

Today, the American Gaming Association (AGA) released the latest white paper in its ongoing efforts to promote regulatory reform, providing an in-depth look at regulatory modernization efforts in five gaming jurisdictions.

Highlights from the new white paper, Advancing Regulatory Modernization: Building on a Record of Success, include:

  • Ohio and Michigan abandoned their decades-old regulations on the shipment of gaming machines, providing costs savings and streamlined shipping processes;
  • Nevada has allowed customers to open unified wagering accounts for financial transactions relating to multiple forms of casino gaming, a critical first step toward meeting consumer expectations for seamless, simple financial tools; and
  • Pennsylvania and Mississippi increased the ownership share that triggers the need for an institutional investor to acquire a gaming license, improving gaming companies’ access to capital without raising the regulatory burden.

“Change truly is the new normal in our industry, with each year bringing innovative casino games, delivery systems, customer identification processes and more,” said Sara Slane, senior vice president of public affairs for the American Gaming Association. “As technology continues to disrupt the gaming world, regulatory reinvention must keep pace. Smart regulatory reforms improve our industry’s ability to accommodate changes in the marketplace, provide a seamless experience for consumers and create greater efficiencies for regulators and businesses.”

Background: Driving an efficient regulatory reform process is part of AGA’s strategic goal to create a more favorable business environment for gaming in each state. Across the country, more than 4,000 dedicated public servants are responsible for regulating all forms for gaming. AGA’s regulatory reform initiative is designed to eliminate burdensome regulation that bogs down business and regulators alike. Learn more about the Next Generation policy initiative here. AGA plans to send a copy of today’s white paper to U.S. gaming regulators.

About AGA

The American Gaming Association is the premier national trade group representing the $261 billion U.S. casino industry, which supports 1.8 million jobs nationwide. AGA members include commercial and tribal casino operators, gaming suppliers and other entities affiliated with the gaming industry. It is the mission of the AGA to achieve sound policies and regulations consistent with casino gaming’s modern appeal and vast economic contributions.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Compliance Updates

NJ Regulators Impose Fine on DraftKings

Niji Narayan

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NJ Regulators Impose Fine on DraftKings
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The New Jersey Division of Gaming Enforcement has fined DraftKings for violating the self-exclusion rules.

DraftKings has to pay out penalties totalling $7000 to the gaming regulator and return $3277 to customers after failing to adhere to self-exclusion rules.

The regulator hit DraftKings with the maximum $5,000 civil penalty for taking wagers from customers who had requested a “cooling off” period be placed on their accounts.

DraftKings discovered an error within its systems in November 2018 whereby the “cooling off” period had been set to zero days. During the month in which the system was not correctly in place, 54 people who were not meant to be able to deposit were able to place bets totalling $28,887. They lost $3277, which DraftKings will now have to pay back.

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Gambling in the USA

Oregon Lottery Shares its Expectations in Sports Betting

Niji Narayan

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Oregon Lottery Shares its Expectations in Sports Betting
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The Oregon Lottery, which will be in charge of running sports betting in the state, has shared its sports betting expectations. The Lottery said that it expects to generate US$141.2 million in revenue.

The estimations are part of an analysis of the first three years after the launch of its SBTech-powered retail and mobile sportsbook, which was signed last month. The Oregon Lottery said that it will launch mobile sports betting soon.

The Oregon Lottery published projections for the sports betting market and said that total handle over the first three years of operations will total US$1.6 billion. The first year of operations could bring US$332.8 million, while the second would rise to US$555 million and US$722 million by the third year.

The Lottery also said that it expects customers to win around US$306 million in the first year, US$507.4 million in the second and US$656.2 million in the third. This means that the Lottery expects winnings to total US$1.5 billion after three years.

Gross gaming revenue (GGR) would stand at US$141.2 million. It would start at US$26.6 million in the first year of the contract and then increase to US$48.5 million in the second year and US$66.1 million in the third year.

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Compliance Updates

Maine Legislature Passes Sports Betting Bill

Niji Narayan

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Maine Legislature Passes Sports Betting Bill
Image Source: playusa.com
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Maine legislature has passed the sports betting bill. The Legislative Document 553 was given final approval by each chamber of the legislature and will now pass to Governor Janet Mills to be signed into law.

LD553 opens up the market to all of the state’s bricks and mortar gaming venues, such as commercial racetracks, off-track betting facilities, and commercial and tribal casinos. It will also allow mobile operators to apply for licences without the need for a land-based partner in the state.

Successful applicants will have to pay $20,000 as licence fee, 10% tax on land-based wagering revenue and 16% rate for mobile wagering. The bulk of revenue raised through these taxes will be allocated to the Maine General Fund.

Operators will be permitted to offer odds on all professional, collegiate and amateur sports events. Betting on events involving Maine-based colleges and universities will be prohibited. Only citizens aged 21 and above will be allowed to bet.

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