New Bill to legalize gambling

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Last post made 14 years ago by Deb321
Lipstick
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  • Hi Members,

    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  embarrassed

    Lipstick

  • 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!!!!! wink

    Lipstick

  • 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??  ::)


  • 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 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

  • 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. cheesy


  • 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?
  • 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.

  • 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 smiley  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.

  • Trpschick,

    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 totally agree with both of you.  Well done!

    On a third note**

    Our country would benefit from the revenue.  We would be doing our part with helping the economic cash flow.  Nothing like feeling patriotic while you're gambling....LOL grin




  • 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!!!! laugh_out_loud!!!! 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!
  • Hi Nipsy,


    Gotta love Barny!!! I agree with u 100%...lets hope we can have the day to breathe easier.

    Lipstick

  • I think my biggest worry is hiding the money.  You really can't do it,  I try not to keep a lot in my account, but even my bank gives me looks.  I have money wired in all the time, then I go to my bank and take out a few thousand, and my teller looked at the screen and looked at me, and his eyes were liked bugged out, and I really got scared.  I was thinking to myself..just shut-up and give it to me..it's up and down like a yo-yo.  I think they can see things like that ...$10k coming in from Ireland..gone in a couple days, over and over again...I need to find a better way with this.

  • HEY NAL--
    I COULD ONLY WISH I HAD SOME MONEY TO WORRY ABOUT HIDING!!!  I AM FAR FROM AN ACCOUNTANT, SO I DID A LITTLE RESEARCH FOR YOU.  I FOUND OUT BANKS HAVE TO REPORT $10,000 OR MORE DEPOSITS TO THE IRS.  BUT I FOUND THIS ON THE IRS WEBSITE-- A wire transfer does not constitute cash.
    WOOOOO HOOOOO!! KEEP ON WINNING GIRL!!!!!!

    P.S. Nal, do you offer a "Play, Win and Cash Out" class, I think I need lessons. hehe



    GOOD LUCK ALL!!!


  • Very good research Shelli....I was just about to reply to Nal.

    It used to be $5,000 many moons ago so was going to check out if it had changed but you beat me to the punch.  Thanks once again grin

    Another question i'll ask my brother when i see him.  He's an attorney wink  I am also going to ask him about winning big with online casinos and best options.  He doesnt like me gambling so of course i will have to say, "A friend of a friend of a friend" wants to know...LMAO wink      cheesy

  • Go ahead and tell him the info is for your friend, SHELLI!!!!! hehe
  • this is a reply to trpschick's comment about the crime....i'm sure there not talking about people waving guns and going on killing spree's when they reffer to crime, but more like irresponsible people who go in over their heads with gambling. those people with the problems, who bounce ckecks, max out credit cards and can't pay them back and also steal other peoples bank info and credit cards are the one's who make it difficult for the rest of us..... i speak from personal expirence in this matter, being a victom of fraudulent charges myself...thank goodness the bank took care of it for me!!

  • Good Point Satan...but why ban online...you can get into just as much trouble at land casinos. If a gambler really wants to play..he will find a way.


    Lipstick

  • The current AG is very unlikely to crack down on online casino play. 

  • Keep it like it is now...please!  Right now the laws are such Federal Prosecutors simply are not going after onlilne gamblers.  If the US government gets involved....yikes!  They will require TONS of personal information on you that will end up on shared databases.  There is something nice about my info being in a file in Dubai, not Washington DC. 

  • I just got this email today.  This is the latest on Barney's proposal:

    The chairman of the House Financial Services Committee, Congressman Barney Frank released details of his new legislative proposal aimed at legalizing online gambling in the United States Wednesday ahead of a delayed press conference re-scheduled to late afternoon Washington time.

    Titled the Internet Gambling Regulation Consumer Protection & Enforcement Act the proposal seeks to overturn the controversial and much vilified Unlawful Internet Gambling Enforcement Act (UIGEA) passed in 2006, which outlawed financial transactions with online gambling companies and has caused billions in damages to European companies forced to withdraw from the US market.

    The bill seeks to issue licenses to online gambling operators, but only those who are in good financial and legal standing and of good character, honesty and integrity, and whose prior activities, reputation, habits and associations do not pose a threat to the public interest or to the effective regulation and control of of the licensed activities.

    Pre-licensing checks are likely to be stringent, and would be operators will have to demonstrate that they possess the requisite expertise to professionally manage Internet gambling operations. There will be an insistence on operators having the technology and systems necessary to effectively combat money laundering and fraud, exclude underage and problem gamblers, meet tax requirements and comply with US federal and state laws.

    Applications are open to all entities, who will have to supply detailed financial records and personal details of directors in order that credit and criminal histories can be checked.

    The nature and depth of background checks will be decided by the Secretary for the Treasury, who will be charged with the approval and monitoring of licensees and may call on the US Attorney General for enforcement and compliance issues.

    Licensing terms will be for five years, renewable conditional on good conduct and efficiency, and the Secretary for the Treasury will have authority to terminate the licenses at any time if a licensee does not comply with requirements. Terms of imprisonment of up to five years are provided for under the Act.

    Congressman Frank later told reporters that he intends to move the bill before the House's August break, but that he will be introducing special legislation titled the Reasonable Prudence in Regulation Act of 2009 aimed at delaying for a year the implementation of the highly controversial and much delayed regulations supporting the UIGEA, which were rushed through in the twilight months of the Bush administration and are due to finally go into effect on 1st December.

    This will allow the new Democrat controlled Congress to decide a national policy.

    Representative McDermott is also re-introducing a companion bill aimed at ensuring that individual and corporate taxes owed on regulated Internet gambling activities are collected.

    There are already rumblings from Republican politicians like Spencer Bachus, and from national sports leagues and conservative Christian groups, which indicate that the Internet Gambling Regulation Consumer Protection & Enforcement Act is unlikely to enjoy a trouble-free passage.

    Just for your info

  • THANKS LOON!!!!  Great info.


  • Keep it like it is now...please!  Right now the laws are such Federal Prosecutors simply are not going after onlilne gamblers.  If the US government gets involved....yikes!  They will require TONS of personal information on you that will end up on shared databases.  There is something nice about my info being in a file in Dubai, not Washington DC. 


    I'm with you Doc..Dubai  isn't far enough for me!!!
  • DID YOU READ IT???  IT HAS A STIPULATION ON THERE TO EXCLUDE PROBLEM GAMBLERS???

    JUST HOW DO YOU THINK BIG BROTHER IS GOING TO DECIDE WHO IS AND WHO IS NOT A PROBLEM GAMBLER????

    ARE YOU A PROBLEM GAMBLER IF YOU GAMBLE MORE THAN ONCE A MONTH??  ONCE A WEEK?? ONCE A DAY??  TWO OR THREE CASINOS A WEEK???  JUST WHAT DO YOU THINK THEIR CRITERIA MIGHT BE???

    SCREW THEM REGULATING ME.

    DO YOU GUYS REALLY HAVE THAT MANY PROBLEMS THAT NEED OUTSIDE HELP FROM THE GOVERNMENT??

    MAYBE YOU ARE JUST PLAYING TOO MANY ROGUE CASINOS, AND WE JUST NEED MORE NETWORKING.  >:(

  • I feel like personally I am very limited where I can play. I would like to play the microgaming casinos but I can't because I am in the US. I for one would love to see it regulated .What is the difference anyway? Land casinos are regulated and I never have a problem with them.

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