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Regulated Video Slots: Missouri’s Next Big Bet

Posted on February 18, 2025 by Aaron Decker

Legislators in Missouri have taken steps to legalize and regulate video lottery terminals (VLTs), a move poised to shake up the state’s gambling sector quite a bit. Following its recent approval by the Missouri House Emerging Issues Committee, a new measure is set to be introduced with the intention of licensing and taxing the hundreds of unregulated video slot machines that are now operating inside the state.

Taking Control

For years, unregulated video slot machines have operated in gas stations, bars, and truck stops, existing in a legal gray area. These machines, which pay out cash prizes but lack official oversight, have generated controversy over their legality and impact. The proposed bill seeks to eliminate this uncertainty by requiring all unregulated machines to either transition into the state’s video lottery system or be removed within 18 months.

Operators of VLTs would be subject to licensing and regulation by the Missouri Lottery, which would also be responsible for monitoring the sector for conformity with federal and state regulations. By making the market more open and transparent, this change is expected to reduce or eliminate the dangers of unregulated gambling and provide players with a safer, more equitable gaming experience.

But what about the money? Well, legalizing and regulating the lucrative video slot sector will certainly generate substantial revenue for the state. A fiscal analysis estimates that once fully implemented, the regulated video lottery system could contribute approximately $404 million annually to government revenues. Missouri is very ambitious with its plans to create a sustainable revenue stream while supporting local businesses that rely on gaming income.

To put this into perspective, the bill proposes a revenue-sharing structure that allocates:

34% to state and local governments, primarily for education programs
34% to the companies providing the terminals
33% to retail locations hosting the machines

Mixed Reactions from Stakeholders

Unsurprisingly, the new bill has sparked debate among industry stakeholders. Missouri’s casino operators have historically opposed the expansion of VLTs outside of their licensed locations, arguing that it could dilute revenue from traditional casino gaming. The Missouri Gaming Association, for instance, has voiced strong opposition to legalizing video slots outside of casinos, fearing that widespread VLTs could impact their market share.

On the other hand, video lottery vendors see regulation as an opportunity to solidify their presence in the state’s gaming ecosystem. Companies like Torch Electronics, a major provider of unregulated machines, will need to decide whether to comply with the new framework or exit the market. The ongoing legal disputes over the definition of “games of chance” further complicate the regulatory landscape.

How New Missouri Crypto Gambling Bill Is Paving the Way for 2024 and Beyond

Posted on February 7, 2024 by Aaron Decker

A groundbreaking measure that aims to protect the usage of Bitcoin and other cryptocurrencies has been filed by legislators in Missouri. This represents an exciting opportunity for the rapidly growing community of cryptocurrency gamblers. The measure, championed by Rep. Phil Christofanelli and emulated by Sen. Eliot Bostar in Nebraska, protects users’ gaming, mining, and self-custody rights.

The Details

Backed by the Satoshi Action Fund, the Blockchain Basics Act is a watershed moment in the never-ending fight to safeguard and encourage the use of digital assets. The Fund’s goal is to ensure that current laws do not hinder innovation in the blockchain and cryptocurrency industry by pushing for policies that are favorable to these industries.

One of the most promising aspects of this bill is its potential to unlock the full potential of crypto gambling. Online casinos are currently unregulated in Missouri, thus players there have no other option except to use offshore sites. But if the state passes laws that are favorable to bitcoin casinos, Missouri might see more activity in the sector.

The mainstreaming of cryptocurrency in the gaming business also has the potential to bring about a sea of change by providing gamers with more safety, transparency, and ease.

In addition to its implications for the gambling sector, the measure provides crypto miners with greater freedom to operate outside the usual constraints of the business. This encourages mining and secures and decentralizes blockchain networks, which are essential to cryptocurrency robustness and sustainability.

Expected Ripple Effects

Looking ahead to 2024 and beyond, the passage of this bill could signal a seismic shift in the landscape of crypto gambling. If this measure passes, the cryptocurrency gaming industry may undergo a dramatic transformation by 2024 or later. More and more digital assets may find their way into the gaming environment as cryptocurrency continues to gain public adoption. The development coincides with larger social movements towards digitization and decentralization, signaling a pivotal time for the gaming business.

In the broader context of US crypto regulations, the bill represents a step towards greater clarity and consistency. Some states have adopted crypto-friendly rules, like Texas, and those that have enacted strict restrictions, like New York. Nevertheless, new developments, like the SEC’s clearance of spot Bitcoin exchange-traded funds, indicate that the significance of crypto in the financial world is becoming more recognized.

Concerns Raised Over Telegram’s Upcoming Crypto Platform

Posted on September 3, 2019September 2, 2019 by Abe Efe

Recent reports have implied that Telegram messenger is set to begin testing TON (Telegram Open Network) its blockchain network in September. The company’s owners raised a whopping $1.7 billion in March in an Initial Coin Offering (ICO) that is one of the most successful ones of all time. Part of the proceeds from the ICO have been used to develop the platforms blockchain network which is aimed at building a universal blockchain infrastructure based on its speed as well as the inclusion of smart contracts. It is therefore very easy to see why many people are so excited about this.

The testing phase of the crypto platform is set to kick off in September and the blockchain nodes will be available as open-source alongside other blockchain database management tools like consensus and shards – these will allow a test-run of TON.

TON is slated to process transactions faster and more efficiently than both Bitcoin and Ethereum while at the same time rivaling widely accepted payment options like MasterCard and Visa. To make it even better, the platform will also be compatible with Ethereum (ETH) when it launches and hopefully, other cryptocurrencies will get support along the way. Very promising, right?

The Concerns

While the TON platform may seem like a solution to a ton of problems, not everyone is convinced that it is what it claims to be. According to a report detailing how terrorists have been using digital currencies, there has been speculation that the release of TON and the associated Gram token pose a significant security threat to the United States’ government.

Telegram seems to be aware of such concerns and has even gone as far as singling out people they believe are terrorists through their privacy policy which reads:

“If Telegram receives a court order that confirms you’re a terror suspect, we may disclose your IP address and phone number to the relevant authorities. So far, this has never happened. When it does, we will include it in a semiannual transparency report…”

Telegram’s chief executive officer, Pavel Durov, has been very adamant when it comes to compromising the security of the messaging platform. However, he has cooperated with governments after terrorist attacks were reportedly coordinated using the app. Now, there is even more scrutiny being directed at the company because of its TONPayments – there is a considerable amount of certainty that this will make it very easy for terrorists to raise funds for their operations all without a trace.

Tag: law