On Thursday, the Nevada Assembly unanimously passed a bill that would set up a regulatory framework for online poker. The bill was severely weekend in committee when parts were stripped out that would immediately start allowing poker regulation. Instead, it is now contingent on federal action.

If the bill becomes law, Nevada would set up an intrastate online poker regulatory framework. The regulators would come up with the necessary rules, develop licensing procedures and more. Then they would wait. The bill requires federal approval for Nevada to actually start regulating the industry, even though it would be an intrastate industry.

So there are three options. The first is that the feds say “yeah, you’re cool. Go ahead.” Nevada could then start regulating intrastate online poker. The second option is that the federal government does nothing but eventually regulates the industry at a national level. In that case, since the feds have approved the industry, Nevada could also move forward. In the third scenario, the federal government does not approve of the bill and does not regulate online poker, so the law is worthless.

There is no federal law against online poker in the United States, but the U.S. Department of Justice is of the “opinion” that it is banned. Funny how that works. Though Nevada’s bill is decidedly weak and I joked before that because they made it spineless, I no longer care, in truth it does some good. It may not be much, but the bill is better than nothing, because it’s a state showing approval of online poker.

The bill next will go to the state Senate. Most insiders expect it to easily pass there as well and later be signed by the governor. After that, it’s a waiting game with the federal government.

Tags: gambling regulation, Nevada gambling, online poker

The UK land and online gambling group William Hill plc is to buy U.S. betting company Brandywine Bookmaking as it expands further into the American sports betting market, reports the BBC.

The company will pay $14.25 million for Brandywine, which operates in the states of Nevada and Delaware. Sports betting is legal under federal law in only four US states – Nevada, Delaware, Montana and Oregon.

The British company will also provide a $1.4 million convertible loan as part of the deal.

Nevada has the largest market of the four sports betting states, with an estimated turnover of $2.7 billion in 2010, a company statement revealed this week.

Brandywine recorded revenues of $7.7 million in 2010.

The deal follows the acquisition of American Wagering Inc (AWI) and Club Cal Neva Satellite Race and Sportsbook Division for a total of $39 million last week.

Ralph Topping, chief executive officer of William Hill, said: “Brandywine is a good strategic fit for AWI’s and Cal Neva’s sportsbook operations and will give William Hill a leading position in the US land-based sports betting market.”

The acquisitions of Brandywine, AWI and Cal Neva’s sportsbook division are all expected to complete in 2012, after finalising the licensing process.