Congress may regulate internet gambling

WWTSblows · 04-26-2007, 11:40 AM

Good news: http://www.house.gov/apps/list/press...ss042607.shtml

Bad news:
They give a way for sports leagues to opt-out of allowing wagers on their sports (which most will most likely do)

SBR_John · 04-26-2007, 11:55 AM

This is a good first start. A few years ahead of its time but shows what the future framework will look like.

Seattle Slew · 04-26-2007, 12:22 PM

Faces an uphill battle, but the good news is somebody in Congress is stepping up and taking on A-holes like Kyl and Goodlatte.

Carlos019 · 04-26-2007, 01:01 PM

Does anyone know how long a process to repeal this law would actually take?

WWTSblows · 04-26-2007, 01:44 PM

They plan to take it to committee in June.

jjgold · 04-26-2007, 02:18 PM

It will take a long time, by then offshore gambling could be crippled.

tblues2005 · 04-26-2007, 03:00 PM

I think it will take time but I think they are listening to the WTO on this issue and the European Union also. I somehow think that there is plenty of angry people out there that do not like what they did pass and it is starting to show. I somehow think that they will regulate it strictly and give companies a license and charge them a big fee so they can monitor them very closely and make sure they are paying U.S. clients. I think some of them wasn't paying customers and they heard them complaints and that is possibly why they passed this law in the first place and they didn't take in consideration that there is plenty of really good books also that will pay players quickly. I can see it passing after Bush is out of office though because he hasn't been getting along with the Democrats at all right now anyways. All the Democrats have to do is stick this in with the bill for funding the war without a deadline and he will be forced to sign it. I think they are leaning in the right direction on this issue and maybe even Vegas could push it to pass so they can get in on the action too. I think it would be great!

mesa777 · 04-26-2007, 03:13 PM

This who deal is a bunch shit anyway.... all the govt cares about is its tax money and the lobby people from Vegas dont want internet gambling taking money from them... its all money, nothing else... Wish the govt would wake up and listen to the people... ITS OUR MONEY, LET US SPEND IT AS WE SEE FIT... If I want to gamble on a game I should be able too without hastles... no one regulates stock traders, of I forgot, its all about the good ol' $$$$

Seattle Slew · 04-26-2007, 03:24 PM

Well said. The government doesn't give a rat's rear about US gamblers getting stiffed. They will bust anyone who comes into the country, whether they run a good or corrupt book.

Glad Barney Frank at least puts his bill out there.

Quote:

Originally Posted by mesa777

This who deal is a bunch shit anyway.... all the govt cares about is its tax money and the lobby people from Vegas dont want internet gambling taking money from them... its all money, nothing else... Wish the govt would wake up and listen to the people... ITS OUR MONEY, LET US SPEND IT AS WE SEE FIT... If I want to gamble on a game I should be able too without hastles... no one regulates stock traders, of I forgot, its all about the good ol' $$$$

increasedodds · 04-26-2007, 04:04 PM

This law is a bunch of BS.

Barney made it sound good to have a hope at passing it.

The moment one book becomes legal, they all become legal...

No bank will know which books are legal...

Every major book would get a license for an affiliate and just transfer funds to themselves where you could bet all leagues. They could do this repetitively as some are closed down.

Plus the US CAN NOT tax companies in other countries.

-Sean

Halo · 04-26-2007, 06:04 PM

That would be nice if it happens... I think the magic eight ball says, "Don't count on it"

Dark Horse · 04-26-2007, 07:23 PM

What does it matter what the US government says? Really.
After the way they passed this law, -not that they passed it, but the WAY in which they did it-, how can you possibly take them serious? Unless you think that was an isolated incident.

The present system has nothing to do with democracy, and everything with appearances. There is a big difference between a system that values our choices, and a system that focuses instead of giving us the appearance of choice. And as long as the majority of us doesn't understand that difference, our own government will continue to f*ck us in the ass.

A government that ignores its own people deserves only one thing. To be ignored.

SBR_John · 04-26-2007, 07:35 PM

sean,
I think you missed where this is going. You indeed can tax gaming companies. If they dont want to be taxed then they cant deal to US citizens. This opens the door for the Vegas casinos. They would probably be the only ones to get a license.

BuddyBear · 04-26-2007, 07:38 PM

Good post DH....

sjelveh · 04-26-2007, 07:47 PM

Probably wishful thinking but cmom the NFL has to know not being able to gamble on games will hurt them I bet by football season we might get a surprise hopefully

SBR_John · 04-26-2007, 08:30 PM

If the books cut the sports leagues in then maybe...

Otherwise I think we have to hope that language about opting out is left out of future revisions.

It doesnt make much sense. So its ok to bet on the NFL in Vegas but not from your home in LA??

increasedodds · 04-26-2007, 08:52 PM

Sure you can tax gaming companies in Vegas.

What I am saying is as soon as you make some online gambling companies legal, they all become legal basically.

sean

tblues2005 · 04-26-2007, 09:43 PM

Quote:

Originally Posted by SBR_John

sean,
I think you missed where this is going. You indeed can tax gaming companies. If they dont want to be taxed then they cant deal to US citizens. This opens the door for the Vegas casinos. They would probably be the only ones to get a license.

I disagree SBRJohn with you on that, I think it opens up the door for both to enter the market, I think they want to have a regulatory committee for the ones that will not stiff people and just tax them on the profits that they have made from americans I think. I think they need to meet with the WTO and negotiate with them I think and have a resolution to this matter. I think there is an chance that this could work but that is where the U.S. should go is with a settlement of some sort on this issue. I think SBRJohn that everyone will have a chance to get a license to operate in this country I seem to believe.