Portugal and US Gaming legislations to change

Legal headway for online gambling made in the state of New Jersey and in Portugal

Within the last few days, online gambling updates have occurred in the EU and the USA, with Portugal announcing the legalization of online gambling and New Jersey preparing for its new start in the industry, next month.

As we have discussed many times on Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term Magnates, the face of online gambling in the European Commission is constantly changing, shifting and evolving, as a result of several influencing factors, one being the economy and the financial tribulations of the European countries in recent (and not so recent) years.

For Portugal, the pressures have been forceful and following a country visit by the creditors of Portugal’s €78b debt including members of the European Central Bank, the International Monetary Fund, and the European Union, the realization that its dire financial situation is far from solved with zero prospects of ongoing aid, the country announced the opening of its online gambling market as reported by CalvinAyre.com.

According to a 2011 report, Portugal could recap €250m in online gambling businesses in its first year. And in what appears to a smart financial move, the government will be discussing the prospects of the market and Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term implementation but has not been explicit on what these regulations will look like. However, it is hoped that Portugal avoids making the same mistakes as Spain with regards to operator gaming tax pitched considerably high at 25% which is imposing limitations on the market.

And then, with the reintroduction of online gaming in the US, slowly occurring in various states like Nevada and Delaware, New Jersey will reportedly be starting a five day trial period on November 21, for invited guests, leading up to the official opening of online gambling systems at 9am EDT on November 26.

According to the Winnipeg Free Press, this venture also pursues a cash injection and hopes to assist the revenues of existing struggling casinos in Atlantic City. "I think this is going to be a significant revenue stream," said Robert Griffin, CEO of Trump Entertainment Resorts, which operates two casinos here. "It has the potential to make up 20 per cent of our revenue.”

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