Category Archives: Online Poker

Rating firm cuts NJ online gambling winnings estimate- Third time’s the charm?

It has taken Fitch Ratings three attempts to confirm what I have been saying for more than 6 months now. I predicted that the total revenue from Internet gambling in NJ will not exceed 150 Million dollars for the full year.  Fitch now pegs full year revenue at between 120M-130M. Rating firm cuts NJ online gambling […]

FBAR Penalty Applies To Offshore Poker Account

A recent decision by the Federal District Court could put a chill into the numerous US poker and casino players who have in the past or continue to play with offshore companies. In it, the government claimed that FirePay, PokerStars, and PartyPoker are all financial institutions because they function as “commercial bank[s].” Because the taxpayer […]

Sheldon Adelson Is Winning His War Against Online Gambling: Finally someone agrees with me!

In this informative article by Nathan Vardi of Forbes, readers are walked through the reasons Adelson is winning the battle against the proliferation of online gambling in the US. I have repeatedly said that due to the limited market in NJ and the many issues the NJ operators face (geo-location errors, credit cards rejections, etc…) […]

Online gambling execs taking a second look at how they market in NJ | NJ.com

Finally we are getting to see the real numbers that the online gambling industry in NJ is generating. That is, we are now getting a peek inside the operations and are seeing the true operating costs of running this type of business and it does not look pretty. The operators are clearly losing money as […]