Daily Archives: February 24, 2022

As of Friday, New York had already taken in some $78.5 million from that tax almost all of which goes to fund education far more than the $49 million that the state budget office initially estimated it would receive in the first three months of 2022. That estimate has recently been increased to $110 million, and the state also collected some $200 million in license fees from operators.

Its our first month, ever, and were at $2 billion, said State Senator Joseph P. Addabbo Jr., a Democrat from Queens who serves as the chairman of the committee on racing, gaming and wagering. Its amazing. The astonishment of these numbers: Its incredible.

And new options for gambling may be on the way. Last week, the New York Yankees president, Randy Levine, expressed support for a betting kiosk at Yankee Stadium, following the lead of other professional sports franchises. Such a plan would be part of a broader expansion of wagering into stadiums, racetracks and arenas, something that Mr. Addabbo and his Assembly counterpart, Gary Pretlow, a Westchester County Democrat, are seeking to legalize this year in Albany.

The pair, Mr. Addabbo said, will also be pushing for an expansion of new brick-and-mortar casinos with on-site betting parlors something backed by Gov. Kathy Hochul, another Democrat, with many developers clamoring to put a casino in New York City.

Part of New Yorks big debut stems from its size; of the 20 states now allowing residents to gamble on their phones, New York is the most populous, with potentially larger players like Texas and California still sitting on the sidelines.

But the demand for betting in New York is undoubtedly intense: Roughly a quarter of the nations mobile bets on the Super Bowl came from inside the state, according to Sportshandle.com, citing analysis by GeoComply, a Canadian geolocation security firm.

New Yorkers are passionate sports fans and have been active sports bettors, said Bill Miller, the president of the gaming association. They just didnt have a legal option. And now they do.

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Online Sports Betting's N.Y. Debut: $2.4 Billion in Wagers in 5 Weeks - The New York Times

As long as gambling has existed, there are still many misunderstandings. Even if youre a seasoned gambler, you may be surprised to learn how many persistent misconceptions there are in the world of new online casinos. Moreover, you might be guilty of some of these misconceptions. Fortunately, were here to correct the record.

Even if youve been gambling for years and are just getting started, its never too late to discover the truth about the game you love. Well refute the most common gambling myths in this article.

If youre playing at a legal casino, you can typically expect the games to be fair. Fortunately, all types of wagering in the UK are regulated and licensed by the UK Gambling Commission. As a safeguard for British players, the United Kingdom Gambling Commission regulates both land-based and Internet casinos in the United Kingdom.

Online casino games employ RNGs (random number, which generates random numbers to guarantee that what occurs on the screen statistically resembles what would happen in real life. Algorithms used by computers maintain the randomness of all game outcomes, including the number of coins spun, cards dealt, and dice rolled.

Its great to believe in the power of luck and destiny, yet wins and losses come down to the same thing. Every casino game has a minor numerical edge for the bank, which must be understood before playing. In the long run, the casino and poker house will take in more funds than it pays out to players, precisely how casinos make money.

Although there is a lot of short-term fluctuation, it is still viable to win against the odds. Playing games with a reduced advantage or games like poker, which include aspects of strategy, will put you in the best possible position to win.

Even after doing several research, there is no proof to substantiate this. The vast majority of gamers play within their capabilities and are not in danger of this. Gaming addiction is a genuine concern for almost every online gambling site. Customers may set daily, weekly, or monthly spending limits on several sites. This helps prevent them from overspending.

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This is a common misconception concerning the legality of internet gambling. There are tight restrictions that regulate online gambling, just as there are for gambling in a conventional casino or bingo hall.

Most nations allow players to play online gambling games, but the obligation for making legal bets falls firmly to online gambling operators. You can relax when you play casinos online, knowing that youre doing nothing illegal.

If you believe conspiracy theorists, they would be much more likely to make you think that security personnel is always keeping an eye on your game, waiting to offer you a treat when you seem to be losing interest. In the end, its all down to luck.

Whether generated by a video slot machines unique number or a roulette wheels mechanical components, whatever occurs is subject to luck control. Regular audits and inspections of random number generators and physical equipment guarantee that everything is in order. Any attempt by a casino employee to meddle would be a grave violation of the law.

A winning run after a losing streak isnt a certainty, but it is feasible. Its more probable that youll run out of cash before you get your hands on that tempting big prize. Understanding that every gambling game is a separate statistical event is crucial.

What do you think? There is no way for the dice in a craps game to know what has occurred previously before they are thrown. Even if your so-called fortune appears to balance itself out over time, there are no assurances that the house will always win in the long run.

The United Kingdom is one of the few countries where online gambling is permitted, even though it is illegal in other countries. In truth, gambling is not only legal in the United Kingdom, but the government also explicitly licenses and controls the business, ensuring that players are not forced to depend on sketchy websites.

Choosing a licensed casino or poker house is the best way to ensure that youre playing in a safe environment. It is the simplest method to ensure that the activities are fair and that you will be paid immediately if you win.

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Debunking The Popular Online Casino Myths | On The Spot (OTS) News Southport - (OTS) News Southport

The German state of Nordrhein-Westfalen has passed legislation granting five online casino licences to operators in the region.

Online gaming was legalised across Germany in July last year via the State Treaty on Gambling (GlNeuRStv) that was approved by German lawmakers.

The treaty allowed state governments to choose how they regulated online table games, be it through creating a monopoly or issuing a number of licences equivalent to the number of land-based casinos in the state.

Nordrhein-Westfalen has opted for the latter approach, meaning five licences may be issued.

The law clarifies that this comes in response to demand from the public, in an attempt to direct players to regulated channels rather than black market operators.

The legislation says that licences will only be granted if the operator does not endanger public safety or impair public interests. The operator must also have an office registered in an EU member state, and conduct its operation in accordance with the State Treaty.

After its second reading, the bill was passed with support from the Christian Democratic UnionofGermany (CDU) and the Free Democratic Party (FDP).

The Alternative for Germany (AfD) proposed amendments to the bill, such as a ban on companies offering bonuses and discounts, a blanket advertising ban and the implementation of a cooling-off period, meaning those that offered online gambling before regulation could not receive licences for two years. The proposed amendment was rejected.

Part of the bill explained its reasoning, saying: A permitted range of online casino games is to be created. The populations demand for such a range of games is to be channeled into a permitted market in order to attract players who would otherwise continue to play with black market providers.

These providers from abroad would play against the risk of fraud and manipulation as well as against particularly addictive game designs and advertising measures through regulatory requirements. Channeling players into the legal market can also deprive the black market of its financial basis.

The state of Schleswig-Holstein recently passed similar legislation allowing for the operation of online casino games in the region.

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Nordrhein-Westfalen to grant five online casino licences - iGaming Business

When talking about cryptocurrencies, many directly start thinking about bitcoin. This has become a very natural thing bitcoin has been the largest cryptocurrency available in the market for a very long time.

While bitcoin still remains to be the largest cryptocurrency in the market, there are many others that have the perspective to catch up, and for some of them, even become more popular than BTC.

While all the predictions are very much speculations, it is still very likely for many digital coins to one day become more popular than BTC, especially when it comes to the online gambling industry.

While many markets around the world have used every advantage that cryptocurrencies had to offer, the one that truly managed to get the most out of the crypto assets is online gambling. There are numerous online casinos available today that offer gamblers the opportunity to deposit and withdraw funds in cryptocurrencies, as well as use them for gambling.

Altcoins are slowly showing signs of trying to replace bitcoin in many ways, especially in the gambling industry. The past few years have shown a massive increase in altcoins popularity in gambling. While there was a time when the majority of the crypto casinos only offered bitcoin, today, this has changed a lot.

Almost all online crypto casinos today offer gamblers the ability to use dozens of different crypto assets. The demand for altcoins has also increased. Many gamblers believe that some of the altcoins can actually be better than BTC to use for gambling.

There are many reasons for this, for example, lower fees, faster transactions, and so on. There are some gamblers who also go with altcoins that are more environmentally friendly because of their personal views. In fact, some gamblers are even saying that using altcoins for gambling can actually be a much better idea than using bitcoin.

While it is true that bitcoin remains to be the most used cryptocurrency for gambling, it would not be impossible to imagine a world where altcoins become more popular.

The term altcoin refers to the digital coins that have been issued after bitcoin. Bitcoin is a digital token that has simply paved the way for other coins available today. There are actually several advantages that altcoins have over BTC when it comes to crypto gambling.

One very important advantage is that majority of the altcoins tend to have less value in terms of long-term money-making potential, while it is not true for every altcoin, it is so for many of them. This can be used by gamblers to play their favorite games without additional worry about losing future growth that could have been associated with the coin.

Also, most of the altcoins can be used by gamblers to make much smaller bets, that can let individuals gamble for longer. Another very important thing to note is that majority of the altcoins offer gamblers faster deposits and withdrawals, which can be a very important factor for gamblers.

When discussing cryptocurrency casinos, it is safe to say that ethereum is among the most used digital coins for gambling. In general, this token is the second-largest cryptocurrency available in terms of market capitalization and is used for many purposes. Many gamblers say that ethereum is a preferred choice for gambling mostly because of the fact that it uses smart contracts which can work very well with online gambling.

The team behind ethereum has been working on a new, large-scale update of it, which can make ethereum more user and environmentally friendly. This new update can make ethereum a much better option for crypto gambling than any other coins available in the market.

Bitcoin Cash is another very actively used crypto asset when it comes to gambling. This cryptocurrency is a result of a chain split that happened in 2017, after the hard fork of bitcoin. Over the years, it has increased dramatically in popularity.

One of the main reasons why it is so popular among gamblers is the fact that it offers them a much better and greater capacity than BTC. There are hundreds of crypto casinos that allow using Bitcoin Cash.

Initially created as a meme cryptocurrency, Dogecoin has managed to become one of the largest cryptocurrencies around the world. There are millions of people who have invested in this crypto asset.

Because of the huge popularity of the crypto asset, the number of crypto casinos offering Dogecoin gambling has increased dramatically.

The online gambling industry is growing very fast around the world. There are more and more online casinos being emerged around the world, and many of them are crypto casinos. They are able to offer gamblers numerous advantages to regular online casinos.

First of all, the transactions made using crypto assets are a lot faster and, in most cases, tend to be cheaper as well. In addition, cryptocurrencies offer gamblers a very high level of privacy and security, both of which are very important for gamblers.

While bitcoin manages to be a leader in the gambling industry, many experts claim that other crypto assets can certainly keep up with the huge popularity of BTC, and even overcome it.

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New altcoins that can perspectively replace bitcoins in online casinos - Crypto Mode

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Over the last few years, the Kahnawake licence for casinos both brick and mortar and online has become one of the most sought-after licences in the world. The Kahnawake licence is ideal for start-ups that are just launching and also provides an excellent licensing system for large casino firms that are trying to take their first steps into the Canadian market.

If you have ever wondered why so many companies are scrambling to get their hands on a Kahnawake licence, keep reading. We spoke to Adam Nadeau, founder of casino review site Playcasinos.ca, who explained the reasons why these licences are sought after in the industry.

The online gambling industry enjoyed fairly humble beginnings. The very first digital gambling games were extremely rudimentary, blurry and difficult to play. However, 27 years later and there are hundreds of different online casinos on the market around the world, all of which feature game libraries with a multitude of different game titles, says Adam, who founded Playcasinos.ca when he was still in college.

The rise of the online gambling industry has in part been due to the increase in digital technology. There is now technology to support secure, high-speed, high-performance platforms which feature thousands of different games and host a series of different languages, operations and payment processors. It is even more impressive that so many online casinos have managed to successfully transition to the world of mobile and fully optimize their platforms for mobile use.

These days the industry is so advanced that companies are vying for the attention of potential customers through the use of welcome bonuses, promotions and VIP packages. The increasing popularity of online gambling indicates that the industry will continue to grow and expand in the years to come.

So, why are Kahnawake licences so sought after?

One of the primary draws for many casino companies is the fact that the Kahnawake licensing body is extremely fast and efficient, Adam explains. They are not quite as fast as Curacao, but the licencing is still processed much more quickly with Kahnawake than with most alternate licensing bodies.

The application process will typically take between four and eight weeks depending on the time of year and the number of applications currently being processed. If the company has everything in order and all of their ducks in a row, the approval process itself can take an additional four to eight weeks. This makes Kahnawake one of the fastest licensing bodies in the world. It should be noted however that companies that do not have all of the required documentation will likely experience delays.

Adam adds that the online casino industry is continually changing, and new casino platforms are launched almost daily. This fast pace means that it is a race to the top and delays matter.

The low fees and taxes associated with the licensing process at Kahnawake are another reason why they have become so popular in the online casino industry. Application fees and associated costs for getting an online casino licensed by Kahnawake are some of the lowest in the entire industry, says Adam.

Curacao has lower fees but Kahnawake has extremely affordable rates, especially compared with the fees of some European licencing bodies such as Malta or the UK. No gambling licence is going to be free, but the fees are affordable. The savings can then be used to build the platform or attract further investment in the product.

What the low fees mean is that smaller companies, start-ups and sole traders are more likely to seek a licence. Together with the hyper-efficient processing times, the low fees make Kahnawake an extremely attractive option for small and innovative companies that are just starting out on their own.

As for the taxes, casinos that seek out a licence from the Kahnawake Gaming Commission can enjoy the extremely low tax rate of 0% gaming tax on all gaming revenues. This is very rare in the industry and is obviously ideal for new companies and small start-ups which want to focus on building their brand and reinvesting what they have.

Another, often overlooked reason why the Kahnawake licence is superior to many others is its inherent flexibility. In other jurisdictions, a single casino company may need to acquire a series of different licences in order to launch and operate several different platforms or sites. Other jurisdictions even have some game-specific requirements when it comes to licensing.

While the low fees and fast processing speeds are certainly attractive aspects, the primary reason why licences from the Kahnawake Gaming Commission are so popular is because of the Commissions reputation. The jurisdiction of Kahnawake has a reputation for being trustworthy, responsible and fair.

The Kahnawake authorities take rules and regulations extremely seriously and will enforce said rules without question, Adam says. On top of that, complaints are taken very seriously as are cited violations of the regulations. Not only does the Commission grant licences, but it also continually monitors the licence holders so that customers of the licenced casinos can rest assured.

Casinos seek out licences in order to operate in a certain region, but they are also aware that licences convey trust, respectability and security to potential players. On top of that, casinos are also aware that by obtaining a licence from the Kahnawake Gaming Commission, they join the ranks of online casinos such as Golden Tiger, Quatro Casino, CanPlay and Grand Mondial. For online casinos, it always helps to be in good company.

These are just a few of the many reasons why casino companies both big and small are focusing on the Kahnawake Gaming Commission as the first port of call when it comes to licensing their online casinos. The online gambling industry is continually changing, innovating, growing and adapting, so you never quite know what will happen next. That being said, it is safe to say that the Kahnawake Gaming Commissions casino licences have a number of essential attributes which all casino companies will find attractive.

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Why the Kahnawake gaming license is so highly in demand - nativenewsonline.net