Internet gambling headed for a ban

[izoot]

If they can't tax it, they don't want it.

I have no doubt that any reputable online gambling entity would be thrilled to work on finding efficent ways to track and tax the money. Its a better option than no business at all. Of curse there will be those that find ways around paying tax in the US but that is the case with every business or activity that results in some type of taxation.

There is more to this ban than the US gov not being able to tax it. Politics, religion, land based competitors among other things.

 

[labrocca]

I can't believe no one here has mentioned regulations. Here in Vegas the casinos are highly regulated. Gamblers are not cheated and the casinos are now run VERY professionally. I am concerned online casinos could all be mafia owned. Also what is to say they don't cheat on the odds? They could easily do it. Even in poker..a winning poker player could be a "house" player with full disclosure of all hands at their disposal. Heck...what if they are making their own hands? Certainly where there is money someone is cheating the rules to get more of it. It's amazing that online gambling has gone this far without being banned. Basically isn't it illegal in most states where people play anyways? They are most likely already breaking state law.

 

[EGS]

I can't believe no one here has mentioned regulations. Here in Vegas the casinos are highly regulated. Gamblers are not cheated and the casinos are now run VERY professionally. I am concerned online casinos could all be mafia owned. Also what is to say they don't cheat on the odds? They could easily do it. Even in poker..a winning poker player could be a "house" player with full disclosure of all hands at their disposal. Heck...what if they are making their own hands? Certainly where there is money someone is cheating the rules to get more of it. It's amazing that online gambling has gone this far without being banned. Basically isn't it illegal in most states where people play anyways? They are most likely already breaking state law.

Not to mention who knows how many minors are gambling online...

 

[David G]

I can't believe no one here has mentioned regulations.

Not correct as I covered that apsect in post #16.

 

[izoot]

I can't believe no one here has mentioned regulations. Here in Vegas the casinos are highly regulated. Gamblers are not cheated and the casinos are now run VERY professionally. I am concerned online casinos could all be mafia owned. Also what is to say they don't cheat on the odds? They could easily do it. Even in poker..a winning poker player could be a "house" player with full disclosure of all hands at their disposal. Heck...what if they are making their own hands? Certainly where there is money someone is cheating the rules to get more of it. It's amazing that online gambling has gone this far without being banned. Basically isn't it illegal in most states where people play anyways? They are most likely already breaking state law.

I guess I'm not clear where you stand. There is no need for a BAN on online gambling.

What there is room for is rules and regulations that would set standards in place to protect the gamblers and the companies involved. Just like the "corporate" owned land based casinos. Any company that is serious about entering the arena will happily comply to be able to open a legitimate business. Seems to work well enough in other parts of the world.

This is a HUGE business ( something to the tune of $16 billion a year and that could generate SIGNIFIGANT tax dollars ... maybe even lighten the load where things have been overtaxed. Tho I don't expect the government will ever reduce anything signifigantly as people are paying the hiigher taxes ... however grudgingly.

As to the moral issues and responsibility issues ...

Its time that people keep their morals to themselves. To each their own ... its very tiring to see these politicians constantly thinking they know "whats good for us". Then forcing it down our throats whether we want it or not.

People aren't evil decietful people because they like gambling online NOR on the other side of the coin are those opposed to gambling ... strangely enough ... only online perfect people or angelic.

Do these "puritans" think making gambling online illegal will eradicate it?

I Hope not ... because it will not go away ... it may stumble a bit at first but once alternative methods of payment are in place it will thrive ... and instead of getting the taxes and other benefits of legal business the US gets nothing.

As to responsibility ... isn't it time to see people take responsibility for their own actions? Why do the rest of us have to deal with things like this because people can't control themselves and need to make sure if they can't do it then no one can?

A saying comes to mind ...

When guns are outlawed ... only outlaws will have guns.

Point being ... making online gambling in the US illegal is just going to drive it into the wrong hands.

This is a stupid law that will fail like prohibition did. The question is how many people will be imprisoned, fined or have their lives turned upside down by the examples the government will have to make?

Anyhow Rant mode off ... I have to stop posting after too many Red Bulls!

 

[Theo]

http://today.reuters.com/news/artic...ING.xml&WTmodLoc=InternetNewsHome_C1_[Feed]-2

More details at http://www.gambling911.com/Port-Security-Bill-Passes-Internet-Gambling-093006.html

 

[whitebark]

It might stop gambling originating from the US via US credit card companies but it will not stop internet gambling. This sort of thing has been in place in Canada but it has changed nothing. It is nearly impossible to police and not a single person has been charged for Internet gambling in Canada since the passage of the legislation.

It will create a whole new industry - funneling money overseas to then pay for Internet gambling.

 

[snicksnack]

It will create a whole new industry - funneling money overseas to then pay for Internet gambling.

Casinos could simply start taking eGold, this would solve the payment issue.

 

[duceman]

PrePaidPokercard.com :lol:

 

[Steen]

So what is the difference between this legislation and the current laws that make online gambling illegal in the US?

 

[Bookworm SEO]

I'm a Canadian who's played poker online. I broke even and quit. The real issue is being screwed out of your cash when the net freezes or wtv.

Anyways, I don't think I played anyone working for the house. I get the feeling word would get out, and people would leave that casino. Though smaller, newer places might do that...

 

[fatter]

So what is the difference between this legislation and the current laws that make online gambling illegal in the US?

It makes banks and credit card companies subject to fines if they make payments to gambling institutions plus other preventetive measures i am not sure if it rquires isp to block gambling sites i no house tried to get that in

 

[Steen]

It makes banks and credit card companies subject to fines if they make payments to gambling institutions plus other preventetive measures i am not sure if it rquires isp to block gambling sites i no house tried to get that in

Interesting. Isn't it setup like that right now though? Consumers pay Neteller (offshore) and Neteller pays the casinos?

 

[Raider]

It's funny how they have no issues with offline gambling, but online gambling is such a major concern to them.

What a bunch of cretins.

- Rob

It's a interstate issue.

 

[StockDoctor]

I guess I'm not clear where you stand. There is no need for a BAN on online gambling.

What there is room for is rules and regulations that would set standards in place to protect the gamblers and the companies involved. Just like the "corporate" owned land based casinos. Any company that is serious about entering the arena will happily comply to be able to open a legitimate business. Seems to work well enough in other parts of the world.

This is a HUGE business ( something to the tune of $16 billion a year and that could generate SIGNIFIGANT tax dollars ... maybe even lighten the load where things have been overtaxed. Tho I don't expect the government will ever reduce anything signifigantly as people are paying the hiigher taxes ... however grudgingly.

As to the moral issues and responsibility issues ...

Its time that people keep their morals to themselves. To each their own ... its very tiring to see these politicians constantly thinking they know "whats good for us". Then forcing it down our throats whether we want it or not.

People aren't evil decietful people because they like gambling online NOR on the other side of the coin are those opposed to gambling ... strangely enough ... only online perfect people or angelic.

Do these "puritans" think making gambling online illegal will eradicate it?

I Hope not ... because it will not go away ... it may stumble a bit at first but once alternative methods of payment are in place it will thrive ... and instead of getting the taxes and other benefits of legal business the US gets nothing.

As to responsibility ... isn't it time to see people take responsibility for their own actions? Why do the rest of us have to deal with things like this because people can't control themselves and need to make sure if they can't do it then no one can?

A saying comes to mind ...

When guns are outlawed ... only outlaws will have guns.

Point being ... making online gambling in the US illegal is just going to drive it into the wrong hands.

This is a stupid law that will fail like prohibition did. The question is how many people will be imprisoned, fined or have their lives turned upside down by the examples the government will have to make?

Anyhow Rant mode off ... I have to stop posting after too many Red Bulls!

Great post, and the Red Bulls seem to be a good thing. I thought exactly the same quote about the guns above before reading your post and had to smile seeing others think the same.

 

[actnow]

"U.S. Banks and credit cards can not make payments to online gambling sites."

However, what about the people (none U.S. citizens) that have bank accounts
in foreign branches of U.S. Banks. (Chase)

Or, people (none U.S. citizens) that have an American Express card?

What about Visa and Mastercards that are issued thru foreign banks to non U.S. citizens?
I assume Visa and Mastercard act as the clearing house.

What legal exposure do domainers have that use Yahoo and Google?

What legal exposure does Y and G have?

I'm not a gambler. But, I don't think it is right that the U.S. Govt should prevent
a foreign bank or credit card company from making a payment on the behalf
of a non U.S. Citizen.

The U.S. Congress has the authority to make laws that effect U.S. citizens.
I don't think is fair that they make laws that effect citizens of other countries.

 

[DeluxeNames.com]

As to the moral issues and responsibility issues ...
Its time that people keep their morals to themselves. To each their own ... its very tiring to see these politicians constantly thinking they know "whats good for us". Then forcing it down our throats whether we want it or not.

People aren't evil decietful people because they like gambling online NOR on the other side of the coin are those opposed to gambling ... strangely enough ... only online perfect people or angelic.

Do these "puritans" think making gambling online illegal will eradicate it?

Things are not always as they apear iZoot, it's not the moral conservatives funding and pushing this legislation through. It's the brick and morter big business gambling industry in the US. They are trying to put a "moral conservative" spin on it to fool the naive into not seeing their hidden agenda. Make no mistake, this is the work of Las Vegas and Atlantic city.

For those that are unfamilier with Jack Abramoff (http://en.wikipedia.org/wiki/Jack_Abramoff), he was an expert at putting the "moral conservative" spin on his successfully stopping a new indian casino from being built. After his real sources of funding were exposed, it turned out to be two competing Indian Casinos who had funded his efforts. It turned out that the "moral conservatives" had little to do with it Except to be painted as the scapegoats.

 

[j8jweb]

I guess this means that UK gambling domains will rise in value.

 

[izoot]

Great post, and the Red Bulls seem to be a good thing. I thought exactly the same quote about the guns above before reading your post and had to smile seeing others think the same.

Thanks ... I like Red Bull ... it gives me wings! ( company motto ). I think issue is going to get FAR more heated before its over and the dust settles.

My opinion is that this is nothing but a bump in the road for online gambling.

 

[izoot]

I wonder ... if the government wants to make an issue of the use of credit cards or funding services they could probably easily tie it to the same laws that cover funding/or suspision of funding terrorism with moving money.

I wonder what gambling consumer with get nailed being that example? Sure won't be the big boys ... they are going to choose an an easy target to make an example of.