Manne
29893
2013/10/27 07:33
#308657
Nystromia wrote:
Today's conversion rate for Canadian to US dollar is is $ .096
Here is what I found on the PokerStar site, If you convert $.03 Canadian into US, you get $.02 US, so people are losing pretty much $.01 on $.03.
If I am to understand this correctly, the brokerage is scooping $.01 for every $.03 Canadian. How does $.004 difference from the conversion calculate to $.01?
I know this is petty, but I believe personally this is a scam where the brokerage in the long run will generate thousands of dollars monthly from this.
Can someone please explain if I am wrong on my calculations?
Thanks
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2006/12/07
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29893
The bill that could see action after November, Amodeo said, would allow the hardware and software involved in Internet gambling to be located outside of Atlantic City casinos, provided the equipment is still within the resort’s borders.
That opens up the possibility of the state hosting a central hub for multistate online gaming. The state could sell rights to run programs out of such a hub, said Amodeo, R-Atlantic. He suggested that adopting the legislation would be the first signal that New Jersey might entertain the idea of interstate compacts.
New Jersey’s Internet gambling legislation requires players to be located within the state to place bets. Compacts or agreements with other states — not necessarily neighboring states — could open up online gambling to more consumers, creating larger players’ pools and a nationwide system for online betting.
“Ultimately, we could see Las Vegas handle everything west of the Mississippi, and Atlantic City could handle everything east of the Mississippi,” Amodeo said after his public remarks. “This is that big. It has that kind of potential.”
Amodeo joined other legislators and gaming regulators from various states at the “World Regulatory Briefing USA focusing on iGaming” in Philadelphia as one of many panelists discussing the future of online wagering. The possibility of interstate compacts was a dominant theme in Tuesday’s conversations.
While Amodeo lauded the possibilities, others raised questions about the viability of states cooperation, particularly given varying regulatory processes across states.
Of particular note was a report last week by the Massachusetts Gaming Commission that caused Caesars Entertainment to drop plans for a casino in East Boston amid doubts that the gaming giant would not pass the state’s background check. Caesars, meanwhile, owns four casinos in Atlantic City.
James McHugh, a commissioner with the Massachusetts Gaming Commission, said suitability issues across state lines would need to be considered in multistate compacts, but he could not say how that would be best accomplished.
“It doesn’t make any sense to continue to spend dollars to redo what has already been done,” McHugh said of casino licensing.
Amodeo said unless federal law sets criteria, suitability issues across states will be a hurdle in any potential compacts.
“If you have interstate, it has to be a collaboration. It has to work for all,” he said.
New Jersey is prepared to allow Internet gambling to begin Nov. 26 following a five-day, invitation-only trial period. The Garden State has joined Delaware and Nevada as the only three states to legalize online gambling.
The New Jersey Division of Gaming Enforcement has issued Internet gambling permits to five Atlantic City casinos, which have teamed with online gambling partners. Ten of the resort’s 12 casinos have divulged their plans for online gambling partnerships. Revel Casino-Hotel and Atlantic Club Casino Hotel have not made announcements.
New Jersey’s casinos are looking to online gambling to help reverse a seven-year gambling revenue decline brought on by increased competition in other states. However, some believe Internet betting could cannibalize the market rather than grow it if current in-state casino patrons decide to stay home to place their bets.
Bill Ryan, chairman of the Pennsylvania Gaming Control Board, said Internet gambling will be a tough sell. More interest is circulating in legislation that would give bars and other social clubs the right to have small games of chance, he said.
“It may be that (Pennsylvania) will wait and see long enough to see how New Jersey makes it work ... and to see if there’s going to be any damage done by (online gambling) to the brick-and-mortar casino industry,” Ryan said.
Delaware is expected to begin online gambling this month, while New Jersey is about a month away from its trial period.
A.G. Burnett, chairman of the Nevada Gaming Control Board, said very few problems were found when the state launched online poker earlier this year. Some issues have been seen with a few residents in western Nevada who are located close to California borders and have been blocked out of gambling by geo-location technology barring out-of-state residents from wagering, he said.
“I’m aware of problems, but none that was large,” he said.
Bill could help Internet gambling spread across state lines - pressofAtlanticCity-com: Breaking News