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Online Poker Licenses to be Issued by Nevada from February

It was recently reported by the website that the Nevada State Gaming Control Board (GCB) will be accepting applications for online poker licenses from February of next year. Mark Lipparelli, the GCB Chairman, made the announcement at the U.S. Online Gaming Law conference held at the Aria casino in Las Vegas.

The Nevada State Gaming Control Board is set to start issuing licenses for online gambling operators from February.

The licenses that they issue will only allow operators to offer services to residents of Nevada. The UIGEA explicitly allows intrastate online poker, those who are fighting the UIGEA are arguing that in most states there wouldn’t be enough players to make it viable and hence interstate online poker should be allowed.

Lipparelli said that the process will be fairly straightforward for operators who already hold land casino licenses in Nevada. However, operators will have to demonstrate that they have technology which would prevent underage players and people from outside Nevada from playing on their website. On the other hand, new applicants will have to undergo extensive licensing investigations which are likely to take a number of months.

A meeting was held by the GCB last September to discuss revisions to Regulation 5A (the regulation which allows online gambling in Nevada). Some key points in the regulation are as follows: the gambling age will be 21, licensees will have to keep a revolving fund of $20,000 to pay for compliance investigations, credit cards will be allowed as a deposit method and hand histories must be kept for five years.

The regulation is also designed so that Nevada can issue licenses for interstate poker if it is formally legalised in the U.S. Nevada is hoping to set itself up as the state where operators will go for gambling licenses in the United States. Whilst it is certainly the capital of land casinos it now wants to expand its dominance into the online world.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.