Schwarzenegger authorises high-stakes bingo - Online Bingo News

Governor Arnold Swarzenegger has signed legislation which will permit charities and non-profit organisations to run high-stakes bingo games, while outlawing non-Indian bingo machines.

The new legislation means that high-stakes 'remote caller' bingo games could be offered by the Catholic Church and other charities, simultaneously broadcast which will allow for many thousands of bingo players to compete for much more substantial prizes.

For the past 30 years the top limit for simulcast bingo games has been $250, the new legislation means that payouts can be offered which equal 37% of gross revenues, which officials predict could produce prizes in the six-figure range. These new bingo games must allocate at least 43% of their revenues to the sponsoring charity or non-profit organisation, and are allowed up to spend up to a maximum of 20% revenues on bingo game running costs.

Electronic bingo machines however have now been totally reserved for the Indian tribes, which is not meeting with universal approval, as smaller charities and non-profit organisations had been using bingo machines as a form of fund-raising. With the legislation forcing them to abandon this popular method of fund raising, they are not happy, and are hoiping for further litigation to better their case.

Written by Charlene Grey for BingoStreet.com – the UK’s top authority for online bingo events and the best online bingo promotions.