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"House panel backs Internet gambling limits

Published:

Looks as if it may be sooner than later.



"By ERICA WERNER
"Associated Press Writer

<excerpt>

 

"House panel backs Internet gambling limits


MAY. 25 5:17 P.M. ET A House panel voted Thursday to crack down on the $12 billion Internet gambling industry by applying federal prohibitions to games like online poker, blackjack and roulette.

The legislation would amend the 1961 Federal Wire Wager Act to explicitly prohibit online gambling. It also would outlaw electronic transmission of funds to pay for gambling bets, give law enforcement agencies authority to block such money transfers, and increase penalties for violation of the law.

Although the Justice Department has taken the position that the Wire Act already prohibits online gambling in the U.S., there is disagreement about that. Most of as many as 2,300 online gambling sites in existence are overseas. "......................

http://www.businessweek.com/ap/financialnews/D8HR1U3G0.htm?campaign_id=apn_home_down&chan=db

Entry #337

Comments

1.
TenajComment by Tenaj - May 26, 2006, 3:35 pm
Thanks for the info Konane, I was wondering what jumped off today with this issue. I wonder what Jack Abramoff did? He was so instrumental in stopping it from happening last time.
2.
konaneComment by konane - May 26, 2006, 3:48 pm
If they'd enact the "Fair Tax" ... not Flat Tax .... then there would be no need to worry about lost tax revenues and it would effectively take control away from special interests like the gambling associations which are pushing for restriction.   Fair Tax totally gets rid of all federal taxes including payroll of all kinds, capital gains, death tax, all embedded taxes we pay but don't know it, and replaces it with a value added tax paid by all. US citizens are protected from this tax being collected up to the poverty level and get money back every month for having paid it so the poor are protected well. In so far as I can tell since lottery wins are now taxed as ordinary income minus FICA those taxes would also disappear. Smile!!! Problem gone, leave the market wide open to competition. Check Boortz.com for information about it because of his new book release and recent Fair Tax ralley. BTW it is revenue neutral and can run the government on the basis they figured it at WITHOUT raising the end prices we pay for things now.
3.
Comment by LOTTOMIKE - May 26, 2006, 7:00 pm
i guess we might have only a limited time left to bet online at places like betslips?
4.
konaneComment by konane - May 26, 2006, 7:26 pm
I've never played online but for those who do it would be wise to keep close track of what's happening.

Good luck with your hits both of you!!
5.
Comment by LOTTOMIKE - May 26, 2006, 7:33 pm
thanks konane.my thing is i'm not familiar with these bills and just what they mean and do.everyone was saying online gaming was already illegal.now they are passing bills to make it illegal with banks and stuff.but if we was already gaming before this i'm sure they'll be a way around this.right? confused as to what happens next......
6.
konaneComment by konane - May 26, 2006, 7:55 pm
I always default to the safe position in that gambling is illegal in Georgia so didn't do it. Figured there was something already on the books so was twice shy about going online.

But hey, have been to Vegas many years ago and loved those one arm bandits!! Think you're probably safer to go in person to somewhere like Biloxi which is closer to you than Vegas and gamble in the flesh, or simply play your state games in person.

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