H.R. 2267: Internet Gambling Reg., Consumer Protect., and Enforcement Act Passes

[BLUEWATER]

Here a link that will explain little bit better what is next.

http://www.pokernews.com/news/2010/0...ney-f-8618.htm

[jolub]

Let's hope the ban is near the end.

[winbig]

Let's hope the ban is near the end.

It's got a long way to go, and the bill, as it is now, could go through many more transformations before it's actually presented to the president for him to sign. And even then, it may be rejected, and then the process would start all over again. Think about it though. This is one great way to get more tax money coming in, so it'd be political suicide for him not to sign it.

The next steps are:

* Full vote in the House
* Senate committee vote (provided a sponsor can be found)
* Full vote in the senate
* Conference committee to resolve differences between House and Senate versions

...and ultimately:

* Signature by the president

[NASHVEGAS]

It's got a long way to go, and the bill, as it is now, could go through many more transformations before it's actually presented to the president for him to sign. And even then, it may be rejected, and then the process would start all over again. Think about it though. This is one great way to get more tax money coming in, so it'd be political suicide for him not to sign it.

The next steps are:

* Full vote in the House
* Senate committee vote (provided a sponsor can be found)
* Full vote in the senate
* Conference committee to resolve differences between House and Senate versions

...and ultimately:

* Signature by the president

Then each State (as currently proposed) has the right to opt-out (or opt-in) in the event the Bill is passed and signed Federally.

[jetset]

Tribal bands, too.

[Simmo!]

Amendment 11 (Manager’s amendment — the majority and minority member who managed the debate): Bets are to be made with prepaid cards and debit cards only; bettors will be restricted from using credit cards on Internet gambling sites. In addition, the House Financial Services Committee will have no jurisdiction on tribal rights. Amendment passes by voice vote.

Is that right? I thought it was just to ban credit cards. The amendment above suggests eWallets are out too?

[NASHVEGAS]

Is that right? I thought it was just to ban credit cards. The amendment above suggests eWallets are out too?

FWIW, have read several articles in the last few days regarding Paypal/Ebay re-entering the funding of online gambling. Keep in mind the legal and logistical (credit cards are one of the primary means of funding e-wallets) issues. It can get complicated.

[felicie]

It could sure put an end to chargebacks?

[DaveG39]

Is that right? I thought it was just to ban credit cards. The amendment above suggests eWallets are out too?

If we can deposit directly via debit/prepaid card, why do we need ewallets? (thank you so much QT for blackballing me, effectively ending my online gambling)

[love2winalot]

Hiya: Just remember, None of this is FREE. There is one reason, and one reason only to do this, and that is TAXES. Right now, if you play from America, at casino, "insert casino name here", you are only paying whatever processing fee there is to get the money into the Casino, via a 3rd party. Then whatever fee either the Casino will charge, or what the 3rd party will charge, to get the winnings back to you, or to your bank account.

Now ADD IN FEDERAL TAXES. and............what ever states decide to join this venture, they will want their fair share also, so ADD IN STATE TAXES. Oh, and a little government ageny called the IRS, is gonna want theirs also.

Some players are going to decide it is just better to keep playing how/where, they are at right now. imhop.

unless anyone actually told the IRS that they made a total of $18,000, "as example" and demanded that the IRS tax them on the winnings?