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Subject: Internet Sportsbook
Posted by: Great One
- [201155199] Sun, Jan 21, 2007, 14:15
Can someone explain whats going on with offshore internet sportsbooks and our government right now?
Anything that still works? |
| 1 | Punk42AE
Donor
ID: 036635522
Sun, Jan 21, 2007, 18:15
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You aren't able to legally gamble on them anymore. Basically they are now enforcing the laws of why you can't do it on any street corner and what not. Congress is forcing everyone to fall into line after taking down the CEO's of a few of the company's. Like they did with the "BetonSports" CEO.
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| 2 | Great One
ID: 201155199
Mon, Jan 22, 2007, 20:09
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I think this will actually lead to more people going to private local bookies, and that has to be worse, no? Certainly more dangerous, at least online you only bet what you have.
Perhaps they'll start companies based in Vegas? but then the government could tax any payout I guess?
So strange. But I guess its all about the $$$.
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| 3 | Punk42AE
Donor
ID: 036635522
Mon, Jan 22, 2007, 20:19
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Just heard today driving home from work they are now going after 4 banks in the US that help fund the sportsbooks.
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| 4 | The Treasonists
ID: 571192610
Mon, Jan 22, 2007, 20:58
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Mine is still working.
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| 5 | biliruben
ID: 4911361723
Tue, Jan 23, 2007, 22:15
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It's illegal to run internet gambling sites catering to Americans.
They are going after the sites, and barring that (because they are off-shore) they are going after methods of funding, investors in the gambling sites, or any other way to coerce and make gambling more difficult.
I don't know if it is tax revenue or just puritan mularkey, but it's a huge waste of time and resources. I encourage you to vote your beliefs and make your beliefs known to your representatives.
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| 6 | ChicagoTRS
ID: 249542719
Thu, Jan 25, 2007, 00:17
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They just need to get on board and regulate it...I would love to get a W2 at the end of the year from the site...
Internet gambling should be optimum for the government...all electronic...every penny can be tracked/taxed...far better than B&M gambling where only big payouts are ever taxed...
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| 7 | Great One
Sustainer
ID: 053272014
Tue, Jul 10, 2007, 14:26
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So does anyone still successfully use a Sportsbook of any sort? I'd like to figure something out before football season... email if you want.
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| 8 | ukula
ID: 106451014
Tue, Jul 10, 2007, 15:45
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GO - A guy I know uses BoDog. Apparently they get around the issue by hitting your credit card with some fake company like "Joe's Fish Market" or "Acme Plumbing Supplies". He's been continuing to fund his account all along. As far as the reliability of payouts I couldn't tell you - he's not exactly a winner.
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| 9 | Tree
ID: 3533298
Tue, Jul 10, 2007, 16:52
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A guy I know uses BoDog. Apparently they get around the issue by hitting your credit card with some fake company like "Joe's Fish Market" or "Acme Plumbing Supplies".
well, more likely, Bodog doesn't care, and will take your money any way they can.
there's a reason the multi-millionaire owner and founder of Bodog can't set foot in the U.S. without the Feds swooping in and arresting him.
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| 10 | Building 7
ID: 571192610
Tue, Jul 10, 2007, 23:46
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Email sent.
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| 11 | pokerpro
ID: 181041219
Wed, Jul 11, 2007, 01:29
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So is it the same deal with offshore poker rooms??I have some money i want to take out soon.I use fulltilt
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| 12 | beastiemiked
ID: 65112917
Wed, Jul 11, 2007, 02:46
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Poker is different as it doesn't directly violate some stupid Wire Act. Our gov't sucks and so do 96% of the politicians that are in congress. I'm voting 3rd party on everything next ticket.
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| 13 | Great One
Sustainer
ID: 053272014
Mon, Jul 16, 2007, 15:37
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Kyl asks Bush to Enforce UIGEA to Counter Frank's Repeal of the Anti-Online Poker Bill
by PokerPages.com
Mon, Mar 19th, 2007 @ 12:00am
Arizona Senator Jon Kyl (R) sent President George W. Bush a letter thanking him for his protection of family values and urging him to act immediately in ensuring that the forthcoming regulations for the Unlawful Internet Gambling Enforcement Act (UIGEA) are as strictly enforced as possible.
In an effort to stop online gambling, the UIGEA was passed last October making it illegal for financial institutions to handle gambling transactions between online gambling sites and US residents.
Kyl, with the help of then Senate Republican Leader Bill Frist, had attached the UIGEA as Title VII of the unrelated and certain-to-be-passed Safe Port Act in the final hours before the Senate recessed. Thus most senators were unaware the UIGEA was attached until vote time, or they had already turned in their votes and had left the voting chambers because the Port Security Bill was so widely approved.
Kyl's letter seems purposely timed as it comes just a day after chairman of the House Financial Services Committee, Barney Frank, announced he will submit legislation to repeal the UIGEA
Frank called the UIGEA one of the "stupidest laws" ever passed.
Senator Kyl's letter had content aimed at Frank's effort to repeal the bill when it said, "Any progress made over the last several months may evaporate if immediate action is not taken to ensure strong and effective implementing regulations."
Kyl's letter circulated throughout the Senate by week's end.
"The politics of protecting state lotteries and Indian gaming is comical at times," said one Senator under the condition of anonymity. "Where are the families that this letter represents?"
Much criticism of UIGEA also relates to the hypocrisy of the exemptions it included. The UIGEA exempted horse racing, inter-tribal gaming and state lotteries from being included in the bill.
Kyl also made sure to exempt Fantasy Sports from the UIGEA.
The New York Sun recently had much to say about Kyl's position relative to Fantasy Sports, pointing out how Kyl has received many political donations from the sector:
For the past eight years, the article begins, "Mr. Kyl has been unable to speak about online gambling without comparing it to rack. Last year, he led a press release with this line: 'A Harvard professor once appropriately likened Internet gambling to crack cocaine use.'"
It then points out that Major League Baseball (MLB) loves the fact that you cannot play online poker, as it has made much money off the Fantasy Sports sites that it licenses:
"Consider this: MLB spent a good part of last year trying to corner the fantasy baseball market, unsuccessfully arguing in court that player names and statistics are not public events, and raising the licensing fees for officially endorsed fantasy baseball games such as those run by ESPN well into the millions of dollars. This was part of a basic strategy to centralize the huge fantasy market around MLB's Web site, thus giving baseball a finger in every fantasy pie."
"Though that strategy was dealt a blow by the August decision that MLB could not stop small companies from running fantasy games using baseball statistics, fantasy games remain a large and growing revenue stream for MLB (there are seven officially licensed fantasy games, with each licensee paying a reported $2.5 million) and an extremely valuable platform for the promotion of the sport."
The article stresses that online betting sites which were exempted from UIGEA, including Fantasy Sports, were sure to benefit from online gambling sites being closed to US residents:
"When you make an estimated $12 billion worth of annual gambling illegal, that frees up a lot of time and money for people to spend on the few legal games left standing."
"Happily for baseball," the article continues, "Mr. Kyl's ban on online gambling includes a carve-out for fantasy sports. Five card stud might be crack, but apparently the crystal meth that is fantasy baseball is fine with the good senator, who obligingly cleared out a whole gang of rival dealers so that MLB and the other major team sports could sling their product on the corner."
According to records the author says that they accessed through the Center for Responsive Politics, Kyl received donations totaling $41,398 from MLB executives and the game's political action committee last year.
"And if MLB were counted as a single corporate entity, rather than as a collection of 30 discreet businesses, it would have ranked as Mr. Kyl's sixth-most-generous contributor last election cycle, just $603 off being the fourth most generous."
Ah...politics.
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