A renewal fee was set at $250,000.

Pete Ernaut, a lobbyist representing the Nevada Resort Association, said expanding the customer base was key.

Horne couldn’t resist at jab at Nevada’s gambling rivals.

AB114 authorizes Nevada to enter into compacts with other states to offer Internet poker. “Today I sign into law the framework that will usher in the next frontier of gaming in Nevada.”

“As to our competitor, New Jersey, they should be accustomed to following Nevada,” he said.

Sandoval and Nevada legislative leaders said it was important for Nevada to remain at the forefront of gambling regulation.

Horne, in turn, had equal accolades for the Republican governor.

Lawmakers in 2011 passed a bill that put Nevada in position to legalize Internet gambling if the federal government sanctioned it. It sailed through both the Assembly and Senate on Thursday after a joint hearing before the two judiciary committees.

CARSON CITY, Nev. Gov. Chris Christie previously vetoed an online wagering bill but has indicated he may sign an amended version next week.

“It’s imperative for the success of this that we compact with other states because we don’t have a universe of players,” Ernaut said.

Partnering with other states gives Nevada an expanded customer market and provides other states with Nevada’s expertise in gambling regulation.

Under a compromise, the fee was set at $500,000, though it gives the Nevada Gaming Commission authority to change the amount. Sandoval had pushed for companies that want to offer online gambling to pay a $500,000 fee, while Horne, in the original bill draft, proposed $1 million.

He praised legislators for their swift action and commended Assembly Majority Leader William Horne, a Democrat from Las Vegas, for shepherding the bill.

AG Burnett, chairman of the Nevada Gaming Control Board, said the state already has about 20 applications from various operators, equipment and software vendors to be licensed for online gambling.

Several other states began looking into online gambling after the Department of Justice issued a letter in 2011 stating that the federal Wire Act of 1961, often used to crack down on gambling over the Internet, only applies to sports betting.

Sandoval, a former chairman of the Nevada Gaming Commission added, “This bill is critical to our state’s economy and ensures that we will continue to be the gold standard for gaming regulation.”

“We have the most mature financial, auditing and collection capabilities, much greater than some of those states, and they have the players,” he said.

The benefit for other states, he said, is Nevada’s “most mature regulatory infrastructure.”

Gambling regulators will now come up with regulations dictating compact parameters.

Nevada wanted to beat New Jersey, its East Coast casino rival, to the online gambling punch. Brian Sandoval signed legislation Thursday legalizing online gambling in Nevada, capping a dizzying day at the Legislature as lawmakers passed the bill through the Assembly and Senate as an emergency measure.

“This was a lot of work and it couldn’t have been done without the governor’s leadership and vision,” he said.

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“This is an historic day for the great state of Nevada,” Sandoval said, flanked by dozens of state lawmakers. But when those efforts failed in Congress, Sandoval said Nevada would work toward agreements with other states.

The measure makes Nevada the first state in the country to approve interstate online gaming, notes CBS Las Vegas affiliate KLAS-TV, adding that it was put on the fast track Thursday. Senate and Assembly judiciary committees approved it, sending it to the Assembly where it passed unanimously. The Senate passed it at midday and sent it to the governor’s desk for signature.

The bill approved Thursday resolved a disagreement between Horne and the governor’s office over licensing fees. New Jersey Gov

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Since his main avenue of earning power was cut off stateside in what poker circles call Black Friday, he has made $700,000, including nearly $214,000 for triumphing in a World Poker Tour event at the Seminole Hard Rock Casino in August. (Hastings was a sponsored player on Full Tilt and said he lost $90,000.)

Hastings is not a household name in casual poker circles, in part because he has never made a splash at poker’s big televised event, the World Series of Poker in Las Vegas. Despite the slower pace of poker in an actual card room, he said his profit averages between $600 to $700 an hour because of the “softer” games he has found.

“I haven’t had any stability,” Hastings recently told The Huffington Post. A Department of Justice shutdown of the major Internet poker sites on April 15, 2011, has turned Hastings and other poker pros into nomads who often set up shop in foreign countries to ply their trade online.

The money part can be great. “It’s pretty sketchy to me and is not a site I’d want to keep much money on at all,” he said.

. despite the crackdown.

The kid may not have a home, but he has his wits.

“Certainly within the year, we expect Americans will be able to play online poker within a regulated jurisdiction through either federal or state legislation,” said John Pappas, the executive director of the Poker Players Alliance.

Hastings seems to profit in any environment. He said Chicago promises him a more connected existence because he works with friends on a fantasy-sports website called draftday.com — but that the area doesn’t have what he deems to be “viable” poker games.

His penchant for making money at astounding rates has been well-documented. “I don’t spend a ton of money relative to my income, but when I do it’s mostly on experiential stuff, since I think that is what is most worth spending money on and leads to happiness,” he said.

The extra travel, he says, has not complicated his finances. The winnings are not so easy now, although Hastings acknowledges that many players wouldn’t mind being in his current position. On Dec. 8, 2009, while still a Cornell undergraduate, Hastings played a five-hour game of Pot Limit Omaha against a Swedish wiz named Viktor Blom. Millions of amateurs and pros alike have had their deposits frozen on poker websites, according to the Poker Players Alliance, with the site Full Tilt accounting for an estimated $150 million in unpaid refunds. Moving from place to place, it does drag personal relationships.”

Hastings also spent three months in Vancouver, B.C., last fall. Pattern recognition and psychology play a big part, he said, along with bankroll management and tolerating the short-term swings of luck. Like many peers, he said he believes online poker will be legalized soon.

On the portfolio side, Hastings said he invests in stocks, hedge funds, gold and silver and start-up companies. His splurges on fine dining and trips for his parents and friends. But in Internet poker, he is one of the top three players in the world, according to Bluff Magazine.

In poker’s new economy, Hastings’ bread and butter remains Omaha and Texas Hold ‘Em for high stakes — but he plays them mostly in person. He set up a Canadian address and bank account so he could legally compete on a poker website, and pondered setting up permanent residency where cyber-poker is allowed, but has had second thoughts.

“It’s not a good time, I’ll be honest,” said Chris Moneymaker (yes, his real name), a Tennessee accountant whose 2003 World Series of Poker win is credited with triggering the poker boom. Hastings once earned more than $4 million in five hours of online poker as a Cornell student during finals week. Every country he plays in has a tax treaty with the United States, meaning that his earnings are taxed as if he made the money domestically, he said.

Hastings currently bounces between an apartment near a tribal casino in Hollywood, Fla., his parents’ home in Hanover Township, Pa., global stops on the pro poker tour, and Chicago.

The problem is that Hastings wants to put down roots. Hastings won $4.18 million after starting $1 million in the hole, and took Blom for another $1.5 million in a rematch. He also won $73,219 in October at the World Series of Poker Europe event in Cannes, France.

He is not alone in facing online poker’s upheaval, which is featured in the new Matt Damon-narrated documentary, “All In: The Poker Movie.” Kristin Wilson of the Poker Refugees placement center said she estimates that of the thousands of U.S. So he tolerates the itinerant life for now. “I’m trying to determine where I want to base myself.

Those were the rollicking days of the Internet poker explosion. players capable of making a living online, hundreds have moved to Costa Rica and up to 1,000 have relocated to Canada since the DOJ ban was enforced. He and his colleagues at CardRunners.com studied Blom’s tendencies before the showdown (which caused a kerfuffle about alleged collusion), and Hastings exploited Blom’s habit of becoming more aggressive after losses, according to Cornell Alumni Magazine.

To be 23 years old and making a fortune as a poker player sounds like the life, doesn’t it? Brian Hastings isn’t so sure. I want a place I can live in eight months a year. “It’s a bad time cause there’s no place to play.”

When he’s stateside, Hastings plays occasionally on a website still operating in the U.S

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Due to their illegal status, gambling sites face high hurdles in the advertising and promotion arena as well, since most US-based online media companies, most notably Google and Yahoo, refuse to advertise them. One of the most successful online gambling websites contains this prominent declaration on its homepage: “We are licensed and regulated by the Government of Gibraltar, and our games are tested by iTech Labs, an independent tester of gaming and wagering devices to ensure that the games are fair and operate correctly.”

* Transparency: while it is often hard to tell just who is behind most ecommerce sites, successful online gambling sites are models of transparency: the location of the company owning the casino is always prominently displayed, and assurances of honesty are backed up with independent audits of the technology used.

* High-quality design: successful gambling websites always look great, no matter how small the business behind them. Would you trust a website with your money if it were located overseas, and you had little legal recourse whatsoever to get your money back if you were dissatisfied-and if the “product” itself were essentially intangible, anyway? To top it off, what if the purchase itself was illegal?

By: Rahul Rana

Abstract: learn how to gain visitors’ trust by studying how online casino websites have overcome enormous obstacles to building trust among site visitors.

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This is precisely the challenge that online casinos meet every day, with the estimated 60 percent of their industry’s customers who come from the USA. It’s usually only a single click, if even that, from the homepage to the virtual betting tables.

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How Do Online Gambling Websites Gain Visitors’ Trust?

You might think that online gambling websites would face an insurmountable obstacle in gaining users’ trust, as well. Take a lesson from websites that can’t trust their trustworthiness to be taken for granted: make sure visitors to your site feel comfortable opening up their wallets.

The trust issue is only compounded for the online gambling industry when it comes to serving US customers. So, they created their own trust seal: ECOGRA, E-Commerce and Online Gaming Regulation and Assurance. Trust has long been an issue in ecommerce, historically plagued by credit card billings and websites that disappear just before the orders were to be shipped-and a constant mainstream media drumbeat of the dangers of online transactions. Casino websites owned and operated entirely outside the borders of the US are free to accept US customers.

* Highly optimized designs. Building trust has long been a chief concern of businesses selling over the web. Online gambling sites are also wont to make a prominent display of their secure connection certificates, from organizations such as Thawte.

* Low barrier to entry: gambling websites generally either have a free option or require only a small upfront payment. But gambling online with real money is illegal in the US under federal law, specifically the Federal Wire Wager Act, not to mention a host of state laws. Plain old HTML may be enough to convince people to post their room rentals on Craig list, but it doesn’t seem enough to make web users fork over their credit card digits to an online casino. * Trust symbols: gambling websites’ businesses, being located outside the US, are not eligible for most US-based business certification programs such as the Better Business Bureau or Square Trade. When you can get straight to doing what you want to do, there is not a lot of time to start nursing doubts.

Online gambling is one of the fastest growing segments of ecommerce in the US, an especially impressive feat since it is illegal in the US.

In short, if you take your online business’s trustworthiness for granted, you may be missing out on potential customers who need additional assurances.

* Assurances: users’ concerns about reliability are not just answered implicitly with fancy seals or confident language

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