The new U.S. gambling laws and the ability of Americans to gamble online

[elbi2]

CowGirl Here!!!!

I am uncertain as to exactly what effect the new U.S. anti-gambling laws will have on the ability of Americans to gamble online and was hoping somebody would be kind enough to help me.

It is my understanding that the new U.S. laws does not explicitly make online gambling illegal and, instead, simply seeks to cut off the transfer of funds to gambling websites by preventing online gamblers from transfering funds to online gambling websites by way of credit card payments and bank wire transfers. However, it is my understanding that for some time now, due to pressure from the U.S. government, it has been largely impossible to transfer money by way of credit card payments or bank wire transfers to gambling websites. From this point of view, all the new law has done is codify existing practice into law.

To get around to above problem, third party payment services like Neteller.com came into existence several years ago. It seems to me that the new U.S. anti-gambling laws would not affect companies like Neteller.com, as Neteller.com is not a gambling website and, therefore, credit card transfer and bank wire transfer to companies like Neteller.com would not be affected by the new U.S. anti-gambling laws.

Thus, it seems to me that the new U.S. anti-gambling laws would have minimal negative effect on the ability of Americans to gambline online. Or am I wrong? Would third party payment services like Neteller.com be affected by the new U.S. anti-gambling laws?

Big Hugs, CowGirl!

 

[WagerWitch]

CowGirl Here!!!!

I am uncertain as to exactly what effect the new U.S. anti-gambling laws will have on the ability of Americans to gamble online and was hoping somebody would be kind enough to help me.

It is my understanding that the new U.S. laws does not explicitly make online gambling illegal and, instead, simply seeks to cut off the transfer of funds to gambling websites by preventing online gamblers from transfering funds to online gambling websites by way of credit card payments and bank wire transfers. However, it is my understanding that for some time now, due to pressure from the U.S. government, it has been largely impossible to transfer money by way of credit card payments or bank wire transfers to gambling websites. From this point of view, all the new law has done is codify existing practice into law.

To get around to above problem, third party payment services like Neteller.com came into existence several years ago. It seems to me that the new U.S. anti-gambling laws would not affect companies like Neteller.com, as Neteller.com is not a gambling website and, therefore, credit card transfer and bank wire transfer to companies like Neteller.com would not be affected by the new U.S. anti-gambling laws.

Thus, it seems to me that the new U.S. anti-gambling laws would have minimal negative effect on the ability of Americans to gambline online. Or am I wrong? Would third party payment services like Neteller.com be affected by the new U.S. anti-gambling laws?

Big Hugs, CowGirl!

Yanno - opinions are a dime a dozen right now.

Until this bill gets signed and BECOMES Law - there is currently nothing happening.

When and if it gets signed, banks, financial transaction agencies and so forth will have to scramble to get their funds - and a way to process them.

Basically - Gambling isn't ILLEGAL - And certain types of Gambling - according to the Bill - will STILL be legal through Wire Transfer (ie horse racing, bookmakers, casinos currently operating in the US).

Spearmaster put this link up -

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It is only ONE opinion.

My opinion is Wait and See.

Banks are going to fight this - they will lose too much money.

Casinos will be lobbying like mad - and other countries will sue the US based on International Trade policies.

You're not talking about a little business - you're talking BILLIONS of Dollars.

Personally - I think each Gambler who chooses to gamble should have the right to do so... and I try to make my voice heard.

It is up to you - as a player - to decide what is important and how you achieve the results you wish for.

Currently it is not illegal - unless you're in a state that has dictated it as law.

But again - these are merely my opinions - and there are many others out there.

Read them all - and make your own choices.

Good Luck!

Wager Witch
luckymeki

 

[royalworld]

this time they are coming down heavily on the whole online gambling issue.. i think the market will atleast get 50% hit in revenue.

 

[lots0]

The problem for gamblers comes in when you try to cash that check from Neteller and your bank (or any bank) won't cash it.

This new law makes it illegal for Banks to Cash a check or transfer or accept any form of payment, checks, wire transfers, Echecks, from an online casino or it agents, like Neteller.

See it goes both ways, they knew that folks would find a way to get money to the casinos, so they tried to fix it so the winners would not be able to collect their winnings.

On a side note: I just heard that Frist was the best buddy of that child molester Foley, the male Congressman that just resigned for sending sick perverted IMs to a 16 year old boy, these guys are all as dirty as crap in a toilet.

 

[Westland Bowl]

The problem for gamblers comes in when you try to cash that check from Neteller and your bank (or any bank) won't cash it.

This new law makes it illegal for Banks to Cash a check or transfer or accept any form of payment, checks, wire transfers, Echecks, from an online casino or it agents, like Neteller.

Checks will be exempt from the regulations. It would be too costly at this point to implement controls over checks.

 

[BigBill]

Interesting read

Interesting piece in Business Week today:

Online Gambling Still in the Cards?

 

[lots0]

Checks will be exempt from the regulations.

No they won't, your just doing some wishful thinking, checks are specifically named in the new law (thats why I think the Banks will file a few law suits over this new Law).

And the US Banks are required to identify and stop ALL transactions to or from any online casino.

 

[Westland Bowl]

No they won't, your just doing some wishful thinking, checks are specifically named in the new law (thats why I think the Banks will file a few law suits over this new Law).

And the US Banks are required to identify and stop ALL transactions to or from any online casino.

In Professor Rose's analysis:

5363 No person engaged in the business of betting or wagering may knowingly accept any money transfers in any way from a person participating in unlawful Internet gambling. This includes credit cards, electronic fund transfers, and even paper checks. But it is limited to Internet gambling businesses, not mere players. It also would not cover payment processors, except under a theory of aiding and abetting............

The Act allows the federal regulators to exempt transactions where it would be impractical to require identifying and blocking. This obviously applies to paper checks. Banks have no way now of reading who the payee is on paper checks and cannot be expected to go into that business. Banks tried to defeat this bill, not because they cared about patrons privacy, but because they knew that it would cost them billions of dollars to set up systems to read paper checks.

 

[lots0]

I am reading the Bill (soon to be law), not someones view of the new law.

And the soon to be law does require Banks to identify all casino transactions and does specifically name checks.


"5363 Prohibition on acceptance of any financial instrument for unlawful Internet gambling.

No person engaged in the business of betting or wagering may knowingly accept, in connection with the participation of another person in unlawful Internet Gambling-

Section (3). Any check, draft, or similar instrument which is drawn by or on behalf of such other person and is drawn on or payable at or though any financial institution;"

That’s part of the Bill/Law, word for word, I did not bother to list the section where banks are required to identify all online casino transactions, but its in there as well.

 

[lots0]

The new law also gives banks 270 days from the date the Bill is signed into law to come up with a system to identify and block payments to and from online casinos, that is in section,

5364 Policies and Procedures to identify and prevent restricted transactions.

 

[Peaceful1]

Can we open a thread...

that lists each and every casino group's view and what they (the casino groups) are currently implementing as far as U.S. players go (sort of a quick reference guide)?

I know there are more and more threads opening with some info on each scattered about.. but maybe Bryan can put up this reference guide somewhere, so we know where we can or not bother to deposit to? I know this law is not official by any means, but some of the groups are throwing caution to the wind here already.. so I thought it might be a helpful aid for right now.

 

[SlickWilly]

Intercasino Freezing Accounts of US Players

Hi everyone,

Given the change in the laws (or upcoming changes) it appears that Intercasino is jumping out front. They locked all US player accounts today (October 3rd, 2006) as far as I can tell, including my own. Anyone else have their account locked?

My account currently has no outstanding problems - yet it is locked one day after Intercasino announced they were not awarding anymore bonus money to US players.

Unfortunately they currently have $120 US of my own money locked up right now because of the freeze on the account. I would have appreciated a forewarning about this change from Intercasino if they were going to do this.

A call to their help line now only gets a busy signal. An autoreply from an email I sent reads "Due to an unusually high influx of customers contacting our center we are experiencing a backlog of emails which may result in your query not being answered as quickly as usual. We hope to respond within 36 hours please accept our apologies for the delay."

Even if they unfreeze my account I am done playing there. Locking accounts that have positive balances without giving people a chance to withdraw their funds is theft. Return the funds IC immediately via the method deposited!

I am NOT happy with Intercasino's handling of the situation at all. And given their autoreply - I am guessing I am not alone.