http://www.bloomberg.com/apps/news?pid=20601087&sid=a92yBd0NpQ4Y&refer=home
In the works now is a law that could entirely wipe internet gambling off the face of the map. Perhaps this is where TRUE Capitalists rise up and find an alternate means of providing this form of entertainment, however, when laws are brought up to block such emerging growth spots, you begin to wonder. Main points.
[1] The law will seek to block any and all payments by banks and credit card companies to and from internet gambling and sports betting websites. For those who don't know, gambling is relegated to a few hot spots, Vegas, Atlanta city, and a few other major zones that are designated and TAXED.
[2] Watch for many politicians to be given free rooms at major resorts for assisting the casinos w/in the US. Because their legal place of residence was the US, they were losing millions to people NOT traveling to physical casinos, AND they couldn't create an online gambling site b/c their central location was the US, which made it illegal to do so.
[3] One of the main points, on top of casinos lobbying for the changing of the laws in some fashion, is the major point that the US can't monitor and tax an industry that was growing faster and more profitable than physical casinos, and for that matter, if it can't be taxed, it is made illegal.
[4] This isn't about ethics or morals of whether people should or should not gamble, of the fact money is transferred from one reality to another, but of illegal and legal. The bottom line was, they couldn't tax it and the casinos pushed hard enough to change the law in some way so they could effectively compete, and the simplest way it appeared to be fixed was by enacting such a law.
Remember YOU elect these officials.
Keep in mind also, a shady law, on par with the Patriot Act was passed recently, named the Military Commissions Act of 2006. It only passed in the past few days.
Any thoughts on WHAT can happen to open internet gambling back up? Is this legal or illegal in your opinion?
~~~~~~~
Lastly, Gambling might be a vice, but guess what, it doesn't hurt people NEARLY as much as the Alcohol business does. Accidents, death, addiction, broken families, dead drunken frat boys and sorority girls, teenage car accidents, rape, fights...the list goes on. The ills to society that alcohol creates has far more damaging potential than say, pot, or gambling does, but alcohol (1) cannot be easily or affordably produced in one's home (2) is easily regulated, profited from, and taxed (3) enables the politicians and major shareholders to profit (4) the illegalization of alcohol is far more damaging to society, (observe the 1920's and prohibition, there was more violence and subterfuge THEN), so legalizing it is LESS costly to society.
**Disclosure**
This is not meant to be a political thread.
But I guess you lock it if it spins that way...
A-Unit
In the works now is a law that could entirely wipe internet gambling off the face of the map. Perhaps this is where TRUE Capitalists rise up and find an alternate means of providing this form of entertainment, however, when laws are brought up to block such emerging growth spots, you begin to wonder. Main points.
[1] The law will seek to block any and all payments by banks and credit card companies to and from internet gambling and sports betting websites. For those who don't know, gambling is relegated to a few hot spots, Vegas, Atlanta city, and a few other major zones that are designated and TAXED.
[2] Watch for many politicians to be given free rooms at major resorts for assisting the casinos w/in the US. Because their legal place of residence was the US, they were losing millions to people NOT traveling to physical casinos, AND they couldn't create an online gambling site b/c their central location was the US, which made it illegal to do so.
[3] One of the main points, on top of casinos lobbying for the changing of the laws in some fashion, is the major point that the US can't monitor and tax an industry that was growing faster and more profitable than physical casinos, and for that matter, if it can't be taxed, it is made illegal.
[4] This isn't about ethics or morals of whether people should or should not gamble, of the fact money is transferred from one reality to another, but of illegal and legal. The bottom line was, they couldn't tax it and the casinos pushed hard enough to change the law in some way so they could effectively compete, and the simplest way it appeared to be fixed was by enacting such a law.
Remember YOU elect these officials.
Keep in mind also, a shady law, on par with the Patriot Act was passed recently, named the Military Commissions Act of 2006. It only passed in the past few days.
Any thoughts on WHAT can happen to open internet gambling back up? Is this legal or illegal in your opinion?
~~~~~~~
Lastly, Gambling might be a vice, but guess what, it doesn't hurt people NEARLY as much as the Alcohol business does. Accidents, death, addiction, broken families, dead drunken frat boys and sorority girls, teenage car accidents, rape, fights...the list goes on. The ills to society that alcohol creates has far more damaging potential than say, pot, or gambling does, but alcohol (1) cannot be easily or affordably produced in one's home (2) is easily regulated, profited from, and taxed (3) enables the politicians and major shareholders to profit (4) the illegalization of alcohol is far more damaging to society, (observe the 1920's and prohibition, there was more violence and subterfuge THEN), so legalizing it is LESS costly to society.
**Disclosure**
This is not meant to be a political thread.
But I guess you lock it if it spins that way...
A-Unit
