Quote:
Originally Posted by tamiller866
Cliffs:
Current gaming licensees can get a license for Internet wagering, including all games approved by the commission.
Internet wagering licensees can use suppliers inside or outside the state for hardware, software, services, etc.
All Internet wagering equipment must be located in MS.
Only persons 21 years of age or older and located in MS can wager.
No ring-fencing protections specified, other than mention that licensees have to have approved internal procedures to protect player account funds.
Just general mention that licensees have to have approved internal procedures to prevent cheating and theft.
Criminalizes players for unlicensed play: up to 30 days in prison and/or up to $10K fine.
Criminalizes offering unlicensed play: up to 10 years in prison and/or $100,000 ($250,000 in case of a company).
5% site tax on revenues.
$200,000/year fee on each licensee to the state.
Plus licensing fee to cover commission costs ($200,000 minimum for initial license, $100,000 minimum for renewal).
Licenses good for 1 to 5 years, at commission discretion.
Extensive provisions about seizing domains and requiring ISPs to block domains of unlawful Internet gambling sites.
No accommodation for interstate player pools.
Sites can close player accounts for any reason whatsoever.
Sites can charge any type of account maintenance fees.
Deposits by cash, check, money order, electronic transfer, credit cards or debit cards.
Withdrawals by cash (at gaming facility), electronic transfer or check mailed to registered residence address.
Sites can offer bonuses, jackpots, prizes and other incentives.
After one year of inactivity, site can close a player account (after notice to player). Half the money goes to the state and half is kept by the site.