Wednesday, September 25, 2013

G2E interview with David Deitch from Ifrah Law

My interview from the legal profession comes from David Deitch, an attorney at Ifrah Law. I have a prior association with Jeff Ifrah, founding member. David and I met via Twitter. He is participating in the panel on licensing in an online gaming market. His presentation will also involve regulations.


David has proven a formidable advocate for his clients at Ifrah Law and several other  highly regarded law firms, including Covington & Burling and Janis, Schuelke & Wechsler, representing clients facing investigations and prosecutions involving a wide variety of federal crimes, including wire fraud, bribery, export control violations, and violations of the Foreign Corrupt Practices Act. David’s experiences enable him to recognize what strategy is likely to be most effective for a particular client’s case, and give him the kind of respect and credibility that make him an effective advocate in dealing with government agencies.



1).You work for one the top legal firms in the country regarding Igaming.  How long have you been with the firm?
I have been with the firm since April 2011.
2).What are some of the legal restrictions for IGaming in New Jersey?
The New Jersey iGaming law and regulations set forth extensive requirements for offering iGaming in the state. The operator needs to obtain a license from the state and have their operations physically located in the state. A player just needs to be physically present in New Jersey to play, but does not need to be a New Jersey resident.
3). Since Fantasy Sports betting is legal in New Jersey, would that be a product that IGaming could uses similar to casino games?
In the future we may see New Jersey offer fantasy sports wagering online and New Jersey is currently fighting in the courts to bring sports betting to the state as well. If New Jersey is successful in bringing sports betting to the state, I think it will not be long before they are looking at mobile sports betting as well.
4). Compacting is a topic of conversation for 2014. Does it happen that fast and is it legal?
Interstate compacts are completely legal and are a great way for states to share player pools. Right now with only three states passing iGaming laws, and only one state live, there are limited possibilities for compacts, but as more states enter the online gaming market I think we will see compacts start to form. The participating states would need to agree on licensing, revenue sharing, and other terms which may take some time to finalize, but I expect this will be a hot topic in 2014. 
5). Delaware has wagering on the NFL in the form of parlay cards. Could they offer some form of mobile gaming if an account is established with the casino?
Delaware’s NFL parlay bets are run through the state lottery and offered at the state’s racetrack casinos and other retail locations throughout the state. In its current form Delaware’s NFL parlay wagers are unlikely to go mobile, but if New Jersey is successful in its efforts to implement sports betting I would expect Delaware to follow and we could see mobile betting as part of that effort.
6). How much revenue do you forecast IGaming to generate in the 1st full year of operation?   
Estimates vary but some private securities firms predict that the online industry in New Jersey may grow to $1.5 billion over the next five years, providing up to $150 million in annual tax revenue to the state.  In the near term, these same analysts predict that the New Jersey online market could generate between $650 million and $850 million.  These numbers may vary from analyst to analyst but I think there is agreement that this is likely to be a very big shot in the arm for the gaming industry in New Jersey.
David is participating in the panel on licensing of IGaming vendors on Wednesday at 3:15.  You can follow him on Twitter at @DavidBDeitch.
                                   Reach out to Jeff and David at 
                                               jeff@ifrahlaw.com
                                               ddeitch@ifrahlaw.com
                    Follow me for more interviews from G2E in Las Vegas.
                                Follow me on Twitter at @GamingGuyM

No comments:

Post a Comment