Regulation of online poker deals in IRS on winnings

Las Vegas Review Journal – Nearly a year after the launch of real money online poker in Nevada, there’s a new wave of players who must pay taxes on Web poker winnings from 2013. In the years before regulated online gambling, offshore sites that skirted the law to attract U.S. players may not have cooperated with the Internal Revenue Service. But the legislation passed in Nevada and two other states means that the IRS has the means to easily trace online winnings. Nevada’s first regulated real money site, UltimatePoker.com, launched in April 2013, and WSOP.com followed later in the year….

Online Poker Shared Liquidity Not a Priority for Europe

Poker News – If there will hardly be a pan-European online poker market before 2015, it’s about time Spain’s brick-and-mortar casinos start investing more in developing their online offer. A few months away from the new opening of the country’s regulated market, DLA Piper Spain partner and gambling specialist Albert Agustinoy Guilayn spoke to PokerNews about the future of the national gambling industry, highlighting some interesting opportunities for the future. Right when eGaming Review published a report that shows how over 40% of Spain’s online poker players are still active on non-licensed operators, Agustinoy Guilayn explained how the nearest future…

More Full Tilt Poker Money Released To Victims

Card Player – Another round of remission for victims of the old Full Tilt Poker went out on Tuesday, the group hired to help facilitate the massive process said. Garden City Group announced on its website that an additional $5 million of missing funds entered the hands of 2,200 players, collectively. Both figures are approximate. To date, around 30,000 poker players have been repaid around $81 million. In February, $76 million of player money was released, $1 million of which belonged to a single player. In the initial collection of the financial data, more than a million potential victims were…

PokerStars Releases Statement Addressing California Opponents

Poker News – It’s no secret that California is the next state most likely to legalize some sort of Internet gaming. It’s also no secret that PokerStars has been working towards integrating themselves into the future online poker market in the “Golden State.” Not surprisingly, the online poker conglomerate has been met with some opposition. Last week, over a dozen tribes, including the San Manuel and Pechanga, released a statement urging the State Legislature to “prevent unscrupulous entities” from future iPoker opportunities. “Recent news reports indicate that online poker operator, PokerStars, is in partnership negotiations with a California tribe and…

Nevada Poker Sites Generate $824K in February

Card Player – Although it fell under the radar for the most part, Nevada’s gaming industry had an important milestone last week. February marked the first time ever that a Silver State gaming revenue report included online poker figures. The state was keeping the numbers under wraps until a third casino firm, South Point, started offering games. Station Casinos, which debuted games in spring 2013, and Caesars Entertainment, which kicked things off in late summer, are the other two. In other words, from now on the successes or failures of Nevada’s online gaming industry will be out in the open…

Online Poker Bill Introduced In New York

Card Player – The state of New York is again taking a hard look at online poker within its borders. A proposed law was introduced into the Senate on Friday, which calls for the authorization of online poker, a game referenced as one in which requires skill, and for the awarding of 10 licenses. Each license would be good for a decade, costing $10 million apiece. Revenues would also be subjected to taxes, which, if the bill passed right now, would be 15 percent. The proposal comes after New York voters last year said OK to a handful of commercial…

US Internet Betting

PokerStars Hopeful 3rd Time’s a Charm for US Online Gambling

Despite setback after setback, Europe-based PokerStars won’t give up on its quest to break into the US online gambling market. After failing in Nevada and New Jersey, the new target is California. But odds are PokerStars is once again drawing dead. The company, operated by the Isle of Man-based Rational Group, is linked to three politically powerful Los Angeles-area card rooms and Riverside County’s the well-connected Morongo Band of Mission Indians. The partnership wants to block Internet poker legislation in the state that bans PokerStars from participating in what many believe will be a massive revenue-generating Internet market that would…

New managing director at Full Tilt Poker

iGaming Business – The Rational Group, PokerStars’ holding company, has announced the appointment of Dominic Mansour as managing director of the Full Tilt Poker brand. Mansour, who will assume his role on April 22, will be responsible for day-to-day operations of the Full Tilt brand and business. Having most recently served as chief executive officer of the UK-based Health Lottery, Mansour has also held various other positions at the likes of GTECH G2, NetPlay TV and Globalcom/WMC UK. “Rational Group has big plans for Full Tilt and I’m excited to lead the charge,” Mansour said. “In addition to continuing to…