Nevada Internet Gaming Bill Could Allow Streaming Gaming

Earlier this week, the Nevada State Assembly Judiciary Committee passed an amended and final version of AB296. The Bill is subject to a floor vote this week, and will then pass over to the Senate side of the Legislature.

If the bill passes, residents of Nevada and those outside of the United States will be able to watch and wager on games online. The licenses for interactive gaming will initially be limited only to resort hotels that currently hold offline gambling licenses. Nevada intends to tax the gross revenue received from interactive gaming in the same manner as gross revenue received from other games.

Quoted on April 13 in the Las Vegas Business Press, Richard Fitzpatrick, director of the Internet Business Alliance of Nevada (IBAN), said, "That the first online casino gaming in Nevada would probably consist of live broadcasts of table games using video streaming.''

Fitzpatrick continued, "It would be better to start off with live betting because the regulations for how the games are operated are already in place," he said. "It would probably take regulators and the industry longer, perhaps a year, to develop standards for so called `virtual casinos,' with simulated slot machines and table games that use random number generators to select game outcomes.''

The law, if passed, could provide business to streaming services providers, as well as companies that enable virtual gaming. i2corp (www.i2corp.com), a company which provides software enabling remote wagering of live games and events with electronic financial transactions, believes that it will be well poised to capitalize.

"This is an important event in the development of the U.S. Market for i2corp.com's Home Gambling Network method of Live Remote Wagering and the land based casinos entry into cyberspace,'' stated Deedee Molnick, chief executive officer of i2corp.com