Senate Panel Approves Internet--Gambling Ban

[MS Sunshine]

Don't stress about this bill until six months after it becomes law, about your large BR being on a site. Even then, worse case you open a bank account in Canada or you cash a Neteller check there in person. Best case the big sites work around this problem for you.

The problem with this bill is making it difficult for the average fishie to bankroll his account at first. Fishies have been proven to have very short attention spans. You will get your money somehow that you have on the site.

MS Sunshine

[bob2007]

Agreed. The U.S. wants Americans to spend money within its own country. The government doesn't tax upon companies outside the US running online casinos. Those are businesses which are competing with your domestic BM cardrooms. There is most likely, pressure from the domestic casinos proposing for this law.

I really hate to see all the American fishes die out online. Save the fishes!!

[bull7]

As I understand this bill, it effects only credit card funding for online gaming. Most credit card companies already block these transactions anyway, due to the high default and fraud rates stemming from these type transactions.

The industry has known for a long time Congress was likely to restrict funding options. The writing has been clearling on the wall for a considerable time, esoecially since 9/11 and the all-out effort to "dry-up" potential terrorist funds.

Online gaming has not been banned. You are gambling essentially in the locale of the server. To prohibit gambling Congress would have to pass legislation requiring all U.S. ISP's to block access to these sites. That has not happened. Congress has not even yet acted to require the same ISPs to block "child porn" sites".

As I have outlines in previous posts, the internet poses a wide range of legal, ethical, and social issues our society has not even begun to address. Gradually though, our society will develop means of dealing witgh these unique issues. It is a very grey area, to say the least. The world wide web offers many benefits, as a product of our technological age. Still it poses threats as well. Our society must sort through some heavy issues invvolved in any potential regulation of the 'net. Freedom of speech, right to privacy, pursuit aand practice of free enterprise, and many other concepts must be weighed and carefully considered. This is still a huge legal area largely untapped to date.

For now, Neteller, for example, is a Canadian company which is allowed to do business with U.S. financial institutions. Wire transfers (or EFTs) to and from U.S. banks and Neteller have not been prohibited, either by law or regulation. Future credit card transactions through Neteller may be impacted in the future. I refused to pay the fees associated with this method of funding anyway.

Gaming web sites, then, face the challange of developing alternative funding methods not prohibited by U.S. law and/or banking regulations. I believe appropriate concepts can be easily developed to meet funding needs.

It is true, however, future funding methods may not be as convienent as is desireable to attract fish acting on impulse. So, as a fish I may have to plan ahead to fund my gaming addiction. Better yet, I may elect to pursue other forms of entertainment, which is the ultimate nightmare of all those I regularly feed. Still, with the increased exposure poker in general, and internet poker specifically has recently received, I believe me and all my fish friends will be readily available for explotation for the forseeable future.

Chill Out. . .be concerned, but it's not yet time to panic or withdrawl your bankrolls as though the bank is about to be looted.

[CreamPuff]

Gaming web sites, then, face the challange of developing alternative funding methods not prohibited by U.S. law and/or banking regulations. I believe appropriate concepts can be easily developed to meet funding needs.

I agree...Also Neteller needs to to wake up and
start another branch of business...Best I can tell
all they do is porn and gambling. If they
were to start an online auction site or something
banks would have a hard time cutting them off.
At worst neteller could just have every user agree
by way of a checkbox that the funds are not going to be
used for online gambling.

As far as the sites themselves go, they could literally
change banks and business names every week to
keep US banks off balance.

It also seems like someone could come up with a company
that assist US citizens in starting a foreign (Canada..)
bank account right from their own homes via internet....I know its
legal to have a foreign bank account as long as you
inform the US gov. about it...But not sure if the
foreign banks would let you start an account without
being there in person.(Maybe fax ID, etc)

[Ted Geisel]

This bill is MUCH more braodly worded than just credit cards. If it passes, forget about Electronic payments to gaming sites or to sites like Neteller, which are primarily gaming deposit portals.

PLEASE read the Bill.

Ted

[Ted Geisel]

Write to them ALL.

[bull7]

I don't think so Tim, err, Ted. The legislation concerns FUNDING. . .FUNDING . . .FUNDING . . . It does not prohibit the sites.

Anyway, there is no law at all yet. It hasn't passed the full Senate. If passed by full Senate, then the Senate & House have passed different versions. At best it will require a conference committee. Then IF a consenus is reached in conference comittee, it must pass both houses again w/o amendment, and be signed by President.

I wouldn't do any victory laps yet, Ted. This dog ain't hunting yet.

[lefty rosen]

I fear the worst after reading this bill any site that relys on American players primarily will become a ghosttown, if the rounders are the only ones left. Oh well British sites here I come...........

[Kurn, son of Mogh]

The NETeller issue is unclear in the bill. It will be left up to the regulators to flesh out the definitions necessary to enforcement.

I believe that the reason there has been seemingly zero lobbying to this point is that the internet gaming industry understands implicitly that they are in a no-win situatuion at the *legislative* level. Support for the bill is basically bipartisan. The industry will focus its efforts to preserve its client base at the regulatory level. There is nothing stoppong the regulators from judging that US banks will be free to deal with NETeller.

Some of the best political lobbying occurs at touch points that are separated from the legislators.

I agree with Bull7 here and think we're all screaming "the sky is falling" when the industry hasn't even stepped to the plate. Ted's right in that the language of the bill indicates that NETeller can be included in the ban. But just because it *can* be doesn't mean it *will* be.

Bureaucrats hold more real power than legislators. They are also easier to manipulate. I'm not saying there's nothing to worry about. But the the battle's far from over.

[Emperor]

If your read the bill it talks about what games are exempt.


Funding SITES that offer "Games of Education" i.e. Skill, where the "payout schedule is determined before the start of the game" are EXEMPT & LEGAL !!!

READ THE BILL!!!