Internet gambling ban added to U.S. port security bill

[slugraduate]

http://reuters.myway.com/article/20...6194_RTRIDST_0_NEWS-SECURITY-CONGRESS-DC.html

 

[cityforums.com]

As we all agree, poker.com; casino.com, ...etc are some of the greatest and valuable gambling domains to own, but don't you think this new law will greatly impact their value?
The majority of the bigest domain buyers and company investors are from the US and owning a domain like above ones that you can not develop into a real time portal website for people to gamble online is a loss!

Devasting ... I think gambling.com paid 20 million for their domain ... oucch

it will hurt them in the short run.

 

[ashaw]

I feel like Gambling.com casino.com and poker.com will still hold their value. You may see them for sale shortly, if this bill has really been passed. But the rest of the world will continue to gamble, as will people in the US as they find ways to fun accounts. Most major gambling sites are offshore, so a US bill will not stop them from operating.

 

[dgridley]

We have to remember, this is slated to affect 1) online gambling only and 2) US citizens only.. alas, the US is not the center of the Universe, much as we'd like to believe it. Life, and gambling, will go on..

Sites that aren't online gambling specific will be the least hit, but believe me, a true gambler will find a way to gamble, online or not.

 

[Ronald Regging]

The US however does make up the majority of money coming from online gambling, and that is why it had such a tremendous impact on the stock prices.

Im wondering how this will effect FullTiltPoker.com which has some big name poker players who sponsor and own it. Most are US citizens, yet the site is still up and running...

 

[ashaw]

Ofcourse they are still in business, and they will continue to stay in business. Their place of business is offshore. So are funding sources such as money bookers. PLUS you will always have the option to fund your account with calling cards. Sure there are ways for the US to direct traffic. However, there is absolutely no way for the US to put an end to internet gambling.

 

[ripley]

However, there is absolutely no way for the US to put an end to internet gambling.

Not without clamping down on demand, no, which would mean criminalizing it somehow on an individual level. That would cause riots in the streets, though, I suspect.

ripley.

 

[Amnezia]

Don't get too worried yet.

The online gambling industry is worth $6billion and the big boys aren't going to give up this easily.

There are always ways of getting around new legislation, and it will happen.

This is an ideal time to invest in gambling shares. Many of the big players have been hanging on which is a good sign.

888 and partypoker have already pulled out and terminated their affiliate programs

http://www.shoemoney.com/2006/10/03...-affiliate-programs-moving-outside-of-the-us/

We have to remember, this is slated to affect 1) online gambling only and 2) US citizens only.. alas, the US is not the center of the Universe, much as we'd like to believe it. Life, and gambling, will go on..

i agree the uk gambling industry is HUGE said to be worth 5 Billion GBP anually (including offline gambling) so i still think there will be a market for it

 

[Keynes]

We have to remember, this is slated to affect 1) online gambling only and 2) US citizens only.. alas, the US is not the center of the Universe, much as we'd like to believe it. Life, and gambling, will go on..

This is a good point, as international markets are quite large with strong growth prospects. It is important to note, however, that US players generated roughly 2/3 of Poker revneues and about 1/2 of casino revenues.

Further, the general equilibrium effects will impact offline gambling in so far as potential gamblers are a much more "captive" audience -- casinos will certainly move to capture this market, which will benefit consumers in some ways but the mercantalist policy (and it is) will ultimately increase the concentration of the US gaming market to a handful of conglomerates. Taxes and morality, never the twain shall meet in the context of this debate

 

[DN Tycoon]

If you are keen on internet gambling you would know that the majority of ways to fund your account are from overseas companies such as Neteller which is based in the UK and the government can't do jack about that. So in reality this has done nothing and will not hurt the online gambling industry.

I never understood how any American would not vote as not doing so helps no one...choose the better man it's simple....get off your ass and vote!

 

[dgridley]

This issue was not decided by popular vote.. it was a bill rider that passed thru Congress.

I never understood how any American would not vote as not doing so helps no one...choose the better man it's simple....get off your ass and vote!

 

[allroundguy]

Not just a USA problem ...

Many governments make us believe they propagate freedom, democracy, etc. while they cut every wing, arm and leg to keep us grounded for life.
IMHO the authorities should mind their own business and only put rules that concerns the whole society.
Again, they kill the hen with the golden eggs.
How many industries must more go down?
If people decide to spend their last cent on gambling, drinking, drugs, sex, travel, sports, whatever, it is their own thing until it affects innocent others.
It is not up to anybody to tell individuals what we should do or not, unless we do something that affects others.
Does anybody really believe that placing Stop signs on every corner will decrease traffic collisions?
Fact: Some people are responsible and behave socially towards the community. Some others just do what they feel like in spite of any law and regulation.
As an example: Why must we wear a seat belt in our car? If we don't, how does that affect anybody else but ourself?
Hey, freedom and democracy, where are You?

 

[DN Tycoon]

This issue was not decided by popular vote.. it was a bill rider that passed thru Congress.

That comment was to those who said they don't vote.

 

[wisconsin]

Hello,

Believe it or not, the bill was strongly lobbied by big US gambling corporations who see profit in people coming regularly to casinos than playing online.
Online gambling is creating a decrease in customer’s visits to local casinos which means revenue loss for them!

Many governments make us believe they propagate freedom, democracy, etc. while they cut every wing, arm and leg to keep us grounded for life.
IMHO the authorities should mind their own business and only put rules that concerns the whole society.
Again, they kill the hen with the golden eggs.
How many industries must more go down?
If people decide to spend their last cent on gambling, drinking, drugs, sex, travel, sports, whatever, it is their own thing until it affects innocent others.
It is not up to anybody to tell individuals what we should do or not, unless we do something that affects others.
Does anybody really believe that placing Stop signs on every corner will decrease traffic collisions?
Fact: Some people are responsible and behave socially towards the community. Some others just do what they feel like in spite of any law and regulation.
As an example: Why must we wear a seat belt in our car? If we don't, how does that affect anybody else but ourself?
Hey, freedom and democracy, where are You?

 

[Keynes]

If you are keen on internet gambling you would know that the majority of ways to fund your account are from overseas companies such as Neteller which is based in the UK and the government can't do jack about that. So in reality this has done nothing and will not hurt the online gambling industry.

Well, let's get the facts right first. Neteller is based in the Isle of Man, although it is traded on the London Exchange. Because of its position on the London Exchange, and the subsequent responsbilities that entails, the company must comply with intranational regulations with all sovreign nations (which is why Neteller had to change their TOCs recently.) There are some 3rd party payment systems which may fly under the radar, but the bottom line is that this enforcement is relatively stringent according to the language of the bill, and it ALREADY has had a measurable effect on online gaming -- many of the biggest poker and casino sites are no longer accepting US traffic.

On the issue of liberty, let's be clear here: this is an issue of taxation for the government, not political norms.

On a side note, this bill would have passed 5 years ago were it not for the strong (and subsequently faded) influence of a certain GOP lobbyist named Jack.

 

[cityforums.com]

Hello,

Believe it or not, the bill was strongly lobbied by big US gambling corporations who see profit in people coming regularly to casinos than playing online.
Online gambling is creating a decrease in customer’s visits to local casinos which means revenue loss for them!

not sure if this is true ... Vegas has been SHATTERING

records attendance year after year and is one of the

fastest growing cities in America.

 

[wisconsin]

not sure if this is true ... Vegas has been SHATTERING

records attendance year after year and is one of the

fastest growing cities in America.

There was a debate on Fox news about this few months back, and it was said that the American gambling association which is the biggest industry lobby had opposed online gambling...but now they are in favor of regulating it instead after they hired a private consultant firm who did a study about the industry.

 

[Keynes]

There was a debate on Fox news about this few months back, and it was said that the American gambling association which is the biggest industry lobby had opposed online gambling...but now they are in favor of regulating it instead after they hired a private consultant firm who did a study about the industry.

We call that bait and switch...

 

[KPR]

poker.com wont be for sale its a big poker site in Australia and still accepts US players.

 

[Ronald Regging]

There was a debate on Fox news about this few months back, and it was said that the American gambling association which is the biggest industry lobby had opposed online gambling...but now they are in favor of regulating it instead after they hired a private consultant firm who did a study about the industry.

It was rather obvious to see... Before Internet gambling, the WSOP was like 1/1000th of what it is today. Online qualifiers for WSOP events has been the best thing that ever happened to Vegas in my opinion. Not only that, but alot of people who were never exposed to gambling in any real sense (maybe some home games with friends) were introduced to gambling online, and thus it instills the desire to actually go to a real casino to get the authentic experience.
Personally I think the gambling association screwed themselves on this one, but time will tell.