Congressman Barney Frank will introduce a new bill by the end of April. The bill is to legalize and regulate internet gambling in the US. Due to the current financial crisis it was pushed back from March.
In a letter published by former Senator Alfonse D'Amato, he says "The unlawful Internet Gambling Enforcement Act of 2006 is a burden to the country's financial institutions, does nothing to protect our children and problem gamblers, keeps potential tax money out of the U.S. and sends online gambling jobs overseas".
Keep your fingers crossed....i miss microgaming
New Bill to legalize gambling
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- You know what REGULATE means...that means TAX.
I don't know about you, but I am already up a creek with tax, and if this gets regulated by the government, I don't even want to think about it.
There are plenty of microgaming casinos I still play in, and I would rather keep it on the down low, than have them control me.
- Hi Nal,
Here's the thing about regulation that is a good thing as far as i am concerned. As it stands now you and i have ZERO protection if we run into a online site that decides not to pay us. What could we do..not a darn thing. We gonna call congress or the better business bureau? As long as it remains illegal, we don't have a leg to stand on if we got stiffed out of our winnings.
I figure if we have money to gamble...then paying taxes is a small price to pay to be protected and not worry about untrusting sites again.
Come see me in chat nal...we can debate it girl friend!!!!!
- nalgenie wrote:
That is why I only put my money in a small circle of casinos that I do trust, and I know are going to pay me.
What kind of casinos do you play in?? ::)
I feel ya Nal, I have probably put less than $200 in ALL RTG casinos combined and the majority of that was over a year ago. Now Microgaming sites are a different story. lol I have been playing them for years and have never had any problems.
Good Luck All
- Put it this way...(without full disclosure...it really is bad)
over the last couple years I got away from going to the land casinos because I didn't
declare all my winnings (silly me)
I ended up owing $42,000 and some pennies :'( It took me almost a year to pay it back, that's when I went online strickly. I win ALOT more online, and my taxes would be exhorbant. I just think it would be too much of a nightmare to be fun anymore.
- IMHO, legalizing it would give us more leverage when there is a problem with receiving a payout. I really do not think that the tax thing is that big of a deal. If you have the money to gamble then you have the money to pay taxes on your winnings. You do it at a land casino why not online? Legalizing online gambling is a very smart move in my opinion.....pumps more money into the economy. Gambling is a big business and there is alot of money to be made....why shouldn't the US take advantage of the opportunity? The only problems I can see are the land based casinos really having a problem in that it may take some of their business away due to the fact that no one will have to leave their homes, fly to their destination, pay for a hotel etc. The money that they would spend doing that will be used to gamble online causing their business to suffer in that aspect. Then again you will have the anti-gambling groups crying about all of the trouble it will cause in realtion to addiction etc, however, the excuse they won't be able to use is the excuse that it will cause more crime (which is always a big basis when a jurisdiction is contemplating legalizing gambling) because you are doing it from your home and where will the crime sprees occur.....in your bedroom or den? or maybe on your patio????? HAHAHAHA!!!!! I also really think that the government is fed up with the Indian Reservations reaping the rewards from the industry. Legalizing it is going to literally put everyone at an equal advantage. No longer will the Indian reservations be the only ones raking in all of that cash!!!! I am all for it! Crime is everywhere, just because gambling is legal does not mean that everyone is going to be running rampant in the streets, waving weapons and holding up passers by! I always thought that was the most ridiculous excuse for not legalizing gambling. If someone is going to rob you they are going to rob you regardless of whether there is a casino in the area or not.
- I would love to see gambling legalized everywhere but that will never happen. I do think they should legalize gambling in the US online because they are losing the revenue anyway. People who want to gamble will find a way to do so. Instead of the money going here in the US we are spending it with our friends in other countries who benefit from it. It would help our economy. If I choose to gamble I don't have a problem paying taxes on any winnings I might have. If I go to Vegas or Biloxi and win I am taxed. Needless to say I don't win often enough to worry about that but I have alot of fun trying.
- nalgenie wrote:
I am not allowed to gamble in my line of work, so I guess I wouldn't just be a tax issue for me..
just remember one thing..be careful of what you wish for..it isn't always what it appears to be
Do you work for the government or some kind of gaming commission of something? I understand what you are saying though....If it is legalized they will be able to track your play and winnings through your SS# because the casinos are probably going to have to report your play to keep everyone honest. Also, if you are not allowed to gamble in your line of work I am surprised they don't monitor you. Are you also not allowed to visit a land casino?
- Good ole Barney Frank from my home state! This legislation is a great idea! I hated when they passed the U.G.E.A. From a legal standpoint it is drawn overbroadly and serves no beneficial purpose to taxpayers.
From a personal standpoint it made it much less enjoyable to gamble online. It made me feel like I had to look over my shoulder everytime I played a bit or if I ever won a large jackpot would I ever see it? Plus with deposit and withdrawal options gone and many different casinos and softwares disappearing it really changed my gambling experience.
Having it regulated gives us not only a way to monitor fraud but access to safer ways to deposit and withdraw, as well as not sweating it if we hit a progressive. Also Im kind fo tired of Lars from Sweden winning the 5.5 million progressive all the time Plus any taxable winnings can be balanced by your gambling losses at the end of the year so it isnt that bad. I'll take a little tax for the more enjoyable experience.
I couldn't of said it any better. I am with you allll the way. No more fears if your gonna get paid. No more fears if ya hit a huge Jackpot. No more fears of getting busted!
As far as land casinos, i don't think it will ever really replace on line gambling. People are always going to want to go out and have a good time. Although on line is convenient with a click of a finger....there is nothing like being up in the action. I think the only really gained revenue for on line would be those who do not have a land casino near there home. So it is not hurting the land casinos anyway.
Here in Chicago we have four casinos within a 20 mile radius all around. I'll take the best of both worlds!
We have to admit US...we are always leary when we gamblin on line..after all we don't have a leg to stand on if we got shafted.
I do government work, and do get monitored. And when I go from one assignment to another, I need to get a security clearance. Gambling is not allowed. You are considered a flight risk. As to say you would sell out your country for money that you need for gambling. Just as you would for drugs, etc.
Ahhhhhhhhh.....I understand you completely! How do you keep everything so secret? I would really be a mess all of the time wondering when and if I was going to get caught! More power to you if you can live like you are on the run!!!! !!!! I would be nervous all of the time! I don't sleep now but if I had my job to worry about I would be a walking zombie!
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