Blog
ifrah on igaming
image description

A Blog About Online Gaming and Entertainment Regulations

The road to legalized sports betting in Massachusetts has been slow and lengthy, the lawmakers have spent five sessions on the question of sports betting legalization.  Today, the Massachusetts state House and Senate reached an agreement on a bill that would legalize online and retail sports betting on professional and some collegiate contests (H 5164).  Sports betting on Massachusetts colleges and universities will only be permitted for play in tournaments like March Madness. Under the bill, Massachusetts’s slot parlors, casinos, and racetracks will be able to obtain sports betting licenses and each casino is permitted to partner with two mobile betting platforms.  The state will also grant seven additional stand-alone mobile betting platform licenses.  The bill provides that in-person bets are subject to a 15% tax rate, and 20% tax rate for bets placed through mobile platforms.  Additionally, Massachusetts bettors will not be allowed to use credit cards to fund their accounts. The Massachusetts sports betting licenses are subject to a $5,000,000 application fee.  The bill declares the state will grant... Read more

European Union policymakers have taken the next step toward enacting a scheme for regulating cryptocurrency and other blockchain-based assets, as the Council of the European Union and the European Parliament provisionally agreed to approve new rules governing Markets in Crypto-Assets (“MiCA”).  The new rules would address a range of risks related to cryptocurrencies and related… Read More

In the third year following its inaugural event in 2019, NFT.NYC held its NFT.NYC conference from June 20th to June 23rd, 2022. And Ifrah Law was in attendance, alongside more than 15,000 other attendees in addition to the conference’s 1,500 speakers.  Featuring educational programming and informational panels about various NFT-related topics across seven different venues… Read More

Is My Crypto Safe if My Exchange Declares Bankruptcy?
July 14, 2022

Is My Crypto Safe if My Exchange Declares Bankruptcy?

By: George Calhoun and Jake Gray

Celsius Network LLC, one of the largest cryptocurrency lenders in the industry, filed for bankruptcy protection on Wednesday, July 13th. The filing comes just a month after the company halted customer withdrawals, swaps, and transfers “to stabilize liquidity” on account of extreme market conditions caused by a dive in cryptocurrency prices. As such, many crypto-investors… Read More

Bipartisan legislation introduced in the Senate last month would mark the federal government’s first foray into cryptocurrency regulation, and it could be a welcome development as the industry navigates a period of regulatory and commercial uncertainty. On June 7, 2022, Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) introduced the Responsible Financial Innovation Act (“RFIA”)… Read More

As the legality of online sports wagering grows, so too does the level of advertising for such activities across the United States.  The biggest commodity for sports wagering operators is their market share, gained through growing a loyal customer base of wagers who continue to place wagers on their platform.  In order to increase their… Read More

Despite being the most widespread form of non-fiat money, cryptocurrency has struggled to gain traction as a broader means of exchange and payment, including in the internet gaming (“iGaming”) and sports betting industries. While there are no industry-wide standards for acceptable deposit methods, gaming regulators have tended toward two approaches, neither of which explicitly permits… Read More

As part of a rumored effort to lure the Kansas City Chiefs to move their stadium to the state of Kansas, late on April 28th, 2022, and extending into the earliest hours on the 29th, Kansas state lawmakers voted in favor of a bill to legalize mobile and retail sports betting.  Now, the bill is… Read More

The National College Athletic Association (“NCAA”) relaxed its long-established opposition to sports betting this Wednesday in a decision that will allow for the sale of data to sportsbooks. The decision comes in the same week that NCAA president Mark Emmert agreed to leave his role in the middle of his contract once a new president… Read More

This week, Maine’s state House and Senate both approved a bill that would legalize online and retail sports betting.  The legislation provides the state’s four federally recognized Indian tribes with a monopoly on mobile sports betting rights.  The state’s two casinos, the Oxford Casino and the Hollywood Casino and Raceway in Bangor have the ability,… Read More