Bush signs Gambling Bill

[domainstosell]

Internet Gambling Restriction signed:

http://www.cbsnews.com/stories/2006/10/13/ap/business/mainD8KNTC380.shtml

 

[hanz]

I think you should really get yourself a new president, we (Estonians) just got ourselves a new presidnet and already sun seems to be shining brigher and grass seems to be greener and even beer tastes better :D

 

[Domainate.com]

I blame Congress more than the President for this one. After all, would YOU want to be the president that vetoes a port security bill in this day and age? He had no choice but to sign it thanks to underhanded practices by Congress.

 

[touchring]

Is it now illegal to advertise for gambling services to Americans? What's going to happen to poker names? $1?

 

[KPR]

Is it now illegal to advertise for gambling services to Americans? What's going to happen to poker names? $1?

Wrong!!!!

What is illegal is to accept payments for online gambling through banks and credit cards and certain merchants.

 

[Traveler]

I think you should really get yourself a new president, we (Estonians) just got ourselves a new presidnet and already sun seems to be shining brigher and grass seems to be greener and even beer tastes better :D

Wish we could get a new one tomorrow. Unfortunately we have to wait for the next elections, good news is that he can't be re-elected.

 

[creme]

So where is the loop hole? There is ALWAYS a loop hole. Do you just have to create a bank account overseas? I'm seriously considering starting a website that helps people capitalize on that.

 

[dnb8]

so maybe now poker rooms will start to accept e-gold

 

[Peter]

I just received the following from Ladbrokes (a UK bookmaker who have online poker) which may interest people:-

Ladbrokes unaffected by passing of Safe Port Act

It's not just Golf where Europe will leave America standing still.....

On Friday 13th October President Bush gave final assent to the Safe Port Act marking the bill's passage into law. The bill has caused significant disruption within the online gaming industry due to a clause that prohibits the processing of financial transactions for online gambling by players resident in the United States, who make up approximately 70% of online players.

As a non-US resident you are correct to interpret that this will not affect your continued enjoyment of online gaming activities at Ladbrokes. However in an attempt to clarify the situation from a players' perspective we have produced this summary of what the current position is and what factors European players need to be aware of to ensure their continued enjoyment of online gaming.

Those poker rooms that have to date accepted customers from the USA have been forced to take one of two courses of action:

Immediate withdrawal of services to residents of the USA
Publicly listed companies such as Partypoker.com & 888.com, Poker Networks including Cryptologic (Betfair, William Hill) and payment provider Firepay, have already implemented an immediate withdrawal of their services to residents of the USA. For the poker rooms this will mean a significant reduction in their player numbers but may mean they are legally compliant within their remaining markets.

Continuing to accept deposits from US players in spite of the Safe Port Act
Many non-public listed companies have taken a different interpretation of the Act. They have concluded that the Act does not alter the U.S. legal situation with respect to the offering of online poker games to US residents. This interpretation has yet to be tested in the courts. It should be noted that financial institutions such as Barclays and Royal Bank of Scotland have advised their corporate clients that they are not prepared to do business with companies that take online wagers from the United States. This contradiction in approach may lead to difficulties in processing deposits and withdrawals for these operators.

 

[Napkin.com]

My opinion (usually not worth much)

But,

I think 2 things will happen:

1. More companies will pop up that are a "go-between"
for the gambler and the casino.

I send my $500 to the third party, who sends it to the casino.

and

2. More sites will have BIG FREE tournaments... "WIN $100,000, FREE entry"

and they will have more advertisements on their websites to pay for the purse.


I don't see this shutting down the gambling much at all,
just changing their focus and gameplan.

To me, it's stupid, but I agree, Bush probably didn't want to be the one
to say no and then have everyone mad at this on top of everything else