Amaya Gaming to Purchase Major Poker Sites
Amaya Gaming plans to purchase PokerStars and Full Tilt Poker for the price of $4.9 billion by acquiring Oldford Group. Many American players have been awaiting this news as it means that PokerStars would be available again in the US. However, PokerStars may be limited only to the State of New Jersey for some time. For now, Amaya must deal with regulation by US legislation.
While there is no law that bans players from making an account and playing for money online, in many states, the rules of internet gambling are unclear, and players do not have a safe and well regulated place to play poker. The hope is that this purchase will help bring the online poker industry together to push for nationwide regulations for Internet poker.
PokerStars and Full Tilt Poker hold more than 50 percent of global players globally, outside of the US, with more than 85 million users worldwide.
According to uspokersite.net, the main issue with playing poker online is the ability to process transactions between the player and the poker site. Many banks are not willing to take the chance due to the risk of fraud, and many sites aren’t either. If the Department of Justice seizes a site’s domain, there is a risk that you may not get your money back.
Here are a few examples of the discrepancies between states:
- A bill was introduced on Thursday in Pennsylvania that would allow online poker sites, providing they obtain licensing from the state. So this could be a step in the right direction.
- In the state of Washington, however playing poker online is a felony.
- A New York Judge ruled that poker is not gambling since it is mostly a game of skill.
- Nevada became the first state to allow people to legally play poker online for money.
- A compact was signed this year that may set a precedent for playing poker for money online between states, as the governors of Delaware and Nevada agreed to permit it.
It is anticipated that the purchase by Amaya Gaming Group will be finalized, if all goes well, September 30th, 2014.
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