Posted on 03/16/2006 9:41:35 PM PST by Bubbatuck
WASHINGTON, March 15 (Reuters) - A U.S. House committee on Wednesday approved a bill aimed at stamping out the $12 billion Internet gambling industry by stopping businesses from accepting credit cards and other forms of payment.
The bill, cleared by voice vote in the House Financial Services Committee, would prohibit a gambling business from accepting credit cards, checks, wire transfers and electronic funds transfers in illegal gambling transactions.
Unlawful gambling, under the legislation, would include placing bets on online poker sites, for example, and any other online wager made or received in a place where such a bet is illegal under federal or state law.
By making it illegal to accept payments from people who live where federal or state law prohibits wagering, the legislation would impact offshore gambling Web sites used by many Americans to place bets.
(Excerpt) Read more at today.reuters.com ...
Bad news for Ameritrade, e-Trade, Datek, e-Schwab, and a few other gambling houses.
Trying to unring the bell, again.
It's your money, you should be able to use it on whatever you want, provided you're not violating any laws. It seems unfair to me to keep casino and horse race gambling legal, while making online gambling illegal. Furthermore, people will just find a way around it, and will end up getting screwed as a result. If Internet gambling is legal, at least it can be regulated, and people can have recourse against fraud.
This Congress becomes more and more clueless every day.
I have no interest in this activity but this is just another blockhead move by our congress critters. They really should be forced to seek honest work.
(BTW, the last time I gambled was 35 years ago in college in penny-ante poker).
Just goes to show the government hates competition. After all, it's "their" money, not yours, right? </sarcasm>
You know the answer: the state makes money off the lottery. They get zip from internet gambling.
Simple. The lotto ticket sends money to legislative goons nationwide, so they can then spend said money irresponsibly. Online gambling, however, sends money to businesses, who tend to manage money in a way Congress has never heard of.
Nice to see Congress has their priorities straight, what with that whole War on Terror thing going on. /sarcasm
Drug testing standards for professional athletes http://www.congress.gov/cgi-bin/bdquery/z?d109:S.1114:
House of Representatives gym, eliminate access for lobbyists who are former Members or officers of the House http://www.congress.gov/cgi-bin/bdquery/z?d109:H.Res.648:
Movie piracy and filtering (Family Entertainment and Copyright Act of 2005) http://www.congress.gov/cgi-bin/bdquery/z?d109:S.167:
Oh, the jerks don't get a cut - $$$$$.
That's the problem. Government thinks it should at least be in control of everyone's money. Can't have gambling in a socialist society.
It's a sad day when I'm agreeing with Barney Frank. This is one example of when the morality police get out of hand. As conservative as I am I do appreciate the balance that comes from two parties, warts and all.
I thought this was already illegal?
More feel good legislation perhaps.
"What's the difference in on-line gambling and buying a Lotto ticket?"
The difference is it is the government selling you the lottery ticket. With far worse odds than a little wager on a football game, I might add.
As for that internet poker, all I can say is, anybody who plays poker on the internet is a damn fool.
Why is that? I, and a lot of people I know, have played internet poker. None of us have ever been cheated. A lot of the pro's play online, too, and they're no fools. The operators of these sites don't need to cheat - it's already a money-making machine, just on the rake. Why risk a fortune to cheat?
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