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| 5. LegendZ Sports | SBR Rating A+ | LegendZ Review |
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| 4. Matchbook | 159 total points | Matchbook Review |
| 5. Pinnacle Sports | 148 total points | Pinnacle Sports Review |
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#1 | ||||
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Congress Moves to Suspend Internet Gambling Ban
Current law unduly burdens U.S. financial services institutions WASHINGTON, April 11 /PRNewswire-USNewswire/ -- The Safe and Secure Internet Gambling Initiative (SSIGI) announced its support for new legislation, H.R.5767, that would prohibit the Department of the Treasury and Federal Reserve System from proposing, prescribing or implementing any regulations related to the current ban on Internet gambling, as required by the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA). The bill was introduced yesterday by Reps. Barney Frank (D-Mass.) and Ron Paul (R-Texas). "The Frank-Paul bill would stop the U.S. government from taking any further steps on regulations that would require all of the country's financial institutions to block Internet Gambling payments," said SSIGI spokesman Jeff Sandman. "It's a bold move, but a necessary one, in light of the warnings from the Treasury and Federal Reserve that they did not know how to write regulations to solve the problems created by UIGEA. Further, witnesses representing a broad spectrum of the financial services community unanimously stated that the current ban on Internet gambling is dangerous to the payments system and ineffective in stopping people from using the Internet to play poker, make bets on horses, or engage in other types of wagering." The current Internet gambling ban creates significant additional burdens for U.S. financial institutions, which say that it is unfair to turn them into the Internet gambling police at a time when their undivided attention ought to be on the economy. Testimony before Congress last week offered proof that financial services institutions would face serious regulatory burdens in attempting to enforce UIGEA and related regulations, which is unlikely to stop millions of Americans from gambling online. Representatives from the Credit Union National Association, Financial Services Roundtable, American Bankers Association and Wells Fargo & Co. testified about the burden they would unnecessarily face before the House Committee on Financial Service's Subcommittee on Domestic and International Monetary Policy, Trade, and Technology on April 2. The current UIGEA law is ambiguous and allows for multiple interpretations of what may or may not be illegal activities. Their comments reflect the concerns echoed in the more than 200 comments submitted to the Department of the Treasury and Federal Reserve System. Frank introduced legislation last year, the Internet Gambling Regulation and Enforcement Act (H.R. 2046), that would regulate Internet gambling. The bill would require licensed Internet gambling operators to put in place safeguards to protect against underage and compulsive gambling and ensure the integrity of financial transactions. A companion piece of legislation to the Frank bill introduced by Rep. Jim McDermott (D-WA), the Internet Gambling Regulation and Tax Enforcement Act of 2008 (H.R. 5523), would ensure the collection of taxes on regulated Internet gambling activities. According to a tax revenue analysis prepared by PricewaterhouseCoopers, taxation of regulated Internet gambling is expected to generate between $8.7 billion to $42.8 billion in federal revenues over its first 10 years. |
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#2 | ||||
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Please let this pass and let Pinny come back!!!
__________________
"And what country can preserve its liberties, if it's rulers are not warned from time to time, that this people preserve the spirit of resistance? Let them take arms. The remedy is to set them right as to the facts, pardon and pacify them. What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time, with the blood of patriots and tyrants. It is its natural manure." |
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#3 | ||||
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im too lazy to read all that, can someone summerize?
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#4 | ||||
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escarbajo negro
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That title's misleading.
Not a chance in hell they vote on that in an election year. I hate congress. |
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#5 | ||||
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(8:00EST) Tampa
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Gambling is still running rampant on net
we won |
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#6 | |||||
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about the article... i hope they get that thing lifted, its true that the banking institutions should not have to try and be police for our government. |
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#7 | ||||
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escarbajo negro
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Congressmen can introduce any bill they want, doesn't mean it 'll even get voted on.
As a comparison, Paul introduces legislation every year for the US to drop out of the UN. It (like most everything he does) goes nowhere. His rabid internet fans aside, a Ron Paul sponsored bill is unlikely to get any attention. |
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#8 | ||||
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The truth is for alot of compulsive gamblers making it so difficult to gamble has probably saved them money, I mean honestly picking 53% winners you need to pick JUST TO BREAK EVEN IS HARD ENOUGH MUCH LESS THE GREATER PERCENTAGE YOU WOULD NEED TO TURN A PROFIT ON A BUNCH OF LINES THAT MIGHT BE OFF BY A POINT IN A 100 PT GAME. It should be strictly for entertainment and fun, but compulsive gamblers would think of it as a source of income and end up sucking some 70 yr old man off to the cover their basement rent.
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#9 | ||||
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you can't stop internet gambling. no matter how hard they try they'll never succeed
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#10 | ||||
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If legislation like this does ever pass, you won't know about it ahead of time. It will be buried in some other bill titled "free milk for poor kids at school who will die otherwise", or something like that.
__________________
Online gambling is illegal. I post 'picks' which are my best guess on what the outcome of the game may be for information purposes only. I do not condone using these 'picks' for purposes which are not legal. I do not condone anyone doing business with an online sportsbook from a jurisdiction where such sportsbooks are not legal. If in doubt please consult a lawyer. |
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#11 | ||||
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Agree with Durito, JJ and curious.
Vegas has long had beta programs ready to go at a moment's notice. I'll stay at stable places like Pinny tho, at least for a few years, to see how much the govt will stick its long nose into any individual's business. This is still at least a few years away. It will happen when an increasingly desperate-for-money fed govt |
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#12 | ||||
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Why not tack it to troop funding the way Frist tacked it on to port security
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#13 | ||||
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Personally I am all against the government passing
this or any other gambling law. Keep em the hell out of it. If not, you will be will be paying the feds, the state and some local governments eventually because they will all want a cut from you and the house. The bonuses that you now get will be going to Uncle Sam as well. I see it as a bad deal. Just my 2 cents worth. |
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#14 | |||||
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So you can stay with the book you're with right now, but without the hassle, or join a US based book. US based books therefore will have to compete with foreign ones, meaning great juice and even better bonus incentives ![]() |
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#15 | |||||
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What we need to pass is this new bill that has come up to eliminate the UIGEA. Then money will start flowing more freely I believe. That bill will help sports bettors without a doubt. |
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#16 | ||||
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and also more and more new books every yr just like 2-3 yrs ago!
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#17 | |||||
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Besides, the "They" will be more liberal minded Democrats instead of Holier Than Thou Conservatives by then. If US sites won't take bets on pro sports, so be it, there is no way they can tell foreign sites not to do it. |
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#19 | ||||
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I agree but the long term winners are few and far between. At the same time, I think the original ban was outlandish in the first place. Unfortunately though our country is in so much debt that they would stick their noses up your ass if they could smell profit up there.
__________________
"You can't be king of the world if you're slave to the grind" --Sebastian Bach |
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