f13.net

Shares of online gaming firms have plunged after the US Congress passed a bill cracking down on internet gambling, threatening their business.
Shares in Partygaming were down 58% at close of London trade, while shares in 888 Holdings tumbled by 26%.

Sportingbet shares dropped by 64% while Empire Online shares slid by 25%.

Several firms have said they could stop taking bets from US customers if the bill is signed into law by President George W Bush in the next two weeks.

The law, part of a sustained clampdown on online gaming in the US, would make it illegal for banks and credit card firms to process online gaming payments from the US.

"Company's can no longer except US Credit Cards or paypal for on line gaming-- On friday under the disguise of a homeland security port security bill the government supported by house majority leader Bill Frist placed in that no US online gaming including video games and gambling outlets can except US credit cards or online payment methods such as paypal or another"

"The law, part of a sustained clampdown on online gaming in the US, would make it illegal for banks and credit card firms to process online gaming payments from the US."

Why is this in "Useless" news. This is actually a big deal. They stuck it into the Port Security bill over the weekend. It therefore took most people by surprise that it passed.  The poker forums are going nuts.

So you want to be governed by the laws of the country the website you are visiting not the laws of the country you are in?

So it's legal where I live.

And it's legal where it's taking place.

But because the information crosses over an area where it's illegal, the whole thing becomes illegal.

Ooooooookay.

"Company's can no longer except US Credit Cards or paypal for on line gaming-- On friday under the disguise of a homeland security port security bill the government supported by house majority leader Bill Frist placed in that no US online gaming including video games and gambling outlets can except US credit cards or online payment methods such as paypal or another"

So it's legal where I live.

And it's legal where it's taking place.

But because the information crosses over an area where it's illegal, the whole thing becomes illegal.

Ooooooookay.

THE US Department of Justice has ordered the world’s biggest investment banks, accountants and law firms to hand over all e-mails, telephone records and papers connected with internet gaming firms as part of an investigation into illegal online gambling in America.

...

One source said: “To say the situation is sensitive is the understatement of the decade. The problem is, even if you know you have done nothing wrong, you have no powers of resistance.”

He added: “You can quickly go from being a bystander to a target, so even if you are bomb- proof, you have to assume you are subject to hostility.”

The source went on: “The Department of Justice has taken a shotgun, not a rifle approach in relation to lots of gaming companies and has just asked everyone to hand over all the information they have.”

The request could force banks and other advisers or former advisers to the gambling companies to hand over hundreds of thousands of e-mails and files to American investigators.

Give me a fucking break. Instead of spending hundreds of millions of dollars chasing ghosts, why not legalize it, regulate it, and tax it? That is a giant income stream to tap.

Because gambling is immoral and God will send you to hell for it.

Give me a fucking break. Instead of spending hundreds of millions of dollars chasing ghosts, why not legalize it, regulate it, and tax it? That is a giant income stream to tap.

So it's legal where I live.

And it's legal where it's taking place.

But because the information crosses over an area where it's illegal, the whole thing becomes illegal.

Ooooooookay.

In-home recreational internet gaming shouldn’t be a felony, says Strow

10th District legislator introduces bill to provide an affirmative defense to the Class C Felony created by 2006 internet gambling bill



Rep. Chris Strow, R-Whidbey Island, today announced his legislation, House Bill 1243, to quash the felony charge language in last year’s legislation addressing in-home internet gambling.

“My goal with this legislation is to correct an element from last year’s online gambling bill, Senate Bill 6613, that made it a Class C Felony to gamble recreationally in one’s own home if it is done online,” said Strow.

“While I do see the need for protecting our citizens from online gaming that may be scamming innocent victims, I do think that there is also a level of accountability, as an adult, to do as he or she chooses in his or her own home,” said Strow. “Most certainly choosing to gamble, or play a game of skill such as poker, should not have been made a crime equivalent to possessing child pornography or threatening the Governor.”

House Bill 1243 is currently awaiting a hearing in the House Commerce and Labor Committee.

“While I have requested a hearing on the bill, people need to call and write the Chairman of the House Commerce and Labor Committee, Representative Steve Conway, and ask him to schedule a hearing for House Bill 1243,” said Strow. Rep. Conway can be reached at (360) 786-7906 or Conway.steve@leg.wa.gov.

“There’s a certain point at which policy can be perceived as ‘nanny stateish.’ I think we reached that point with last year’s legislation and I’m aiming to make amends,” said Strow