The Nevada Gaming Control Board held a hearing yesterday in Las Vegas to discuss recently submitted proposals for the regulation of online poker. The hearing was highlighted by the discussion of two key proposals and a testimony by attorney Gil White, who represents online gaming company 888 Holdings.
One such issue was the proposal to ban the use of player-to-player transfers. Historically, this function has allowed players to make transactions involving staking, depositing, and cashing out. However, the Board does not want players to use online poker sites as “shadow banks” to circumvent traditional financial institutions when making deposits or withdrawals.
In addition to talks about player-to-player transfers, the Board discussed the relevance of the gaming “Black Book” used by brick and mortar casinos. The regulatory body thinks that a Black Book could be utilized for online poker sites, and that enforcement of bans would be easier in the online realm.
Finally, Gil White gave an empowering testimony in support of Nevada’s efforts to regulate online poker. White stated that “it’s unfortunate that a country that gave birth to the Internet, Microsoft, Google, and Facebook is stuck in prohibition.” He also revealed that 888 Holdings plans to open an office in Nevada in hopes of developing a “commercial footprint” in the state.
Board Chairman Mark A. Lipparelli acknowledged that the regulatory framework for online poker will take contributions from successful models overseas, but maintained that the foundations will be based on the US’s current brick and mortar model. The Nevada Gaming Commission plans to further clarify issues in a November 17 meeting, and will convene in December to take action on the recently proposed amendments.
Click here to read the recent proposals.