Nevada Gaming Regulators Release New Amendments for Internet Poker RegulationsPlayer Fund Protection a 'Core Responsibility' for Control Board |
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Nevada regulators released new drafts last week for rules pertaining to a Silver State-based interactive gaming system that would run online poker.
The amended proposals provide more substance to a framework that has been developing since Governor Brian Sandoval gave the Nevada Gaming Commission the authority to adopt regulations for Internet poker.
Specifics are now laid out in the rules to ensure that an operator has the funds to cover player deposits in the form of a “reserve.” Twenty-five percent of the total amount must be held in cash.
The agreement between a site and a “federally-insured financial institution” that holds or issues the reserve must also “reasonably protect” the money against other debts the operator may have — in addition to guaranteeing the money for player requests.
“I think player fund [protection] goes to a core responsibility we have,” Gaming Control Board member A.G. Burnett said. “With land-based operators facing uncertain financial times, that has been an issue of focus for us. We need to ensure that player funds are protected adequately and we spend a lot of time and energy on that task.”
While the funds are secure, an Internet poker provider may earn income from the interest accruing on player deposits.
In what could be good news for professional poker players hoping to land endorsement deals, a new regulation draft states that a company may use a “casino player” for marketing purposes.
Some attention has been given recently to the dilemma of computerized players within an online poker site. The topic was addressed in the recent hearing on Capitol Hill, where consumer protection expert Kurt Eggert testified to the difficulty of preventing all cases of bot use.
A new proposal in Nevada states that operators must “reasonably” ensure that the game is between humans only. The previous proposal did not have the word “reasonably.”
“I would hope that all operators would try to curtail players gaining an unfair advantage, and to especially stop any cheating activities,” Burnett said. “I think the term ‘reasonably’ is simply there so that the Board and Commission can impose a certain standard of care on them in that regard.”
The Board will hold a public hearing on Thursday, Nov. 3 and the Commission on Thursday, Nov. 17, to discuss the new proposals.
Follow Brian Pempus on Twitter — @brianpempus
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