New Internet Gambling Law
Legislators Meet in Key West to Discuss New Internet Gambling Law
Legislators met this past week in Key West, Florida to discuss the new internet gambling law and how to best go about implementing it.
The focus was on how far the banking industry would have to go in monitoring such online gambling transactions.
It is doubtful they - the banking sector - would be required to do much at all. Immediately following passage into law of a measure that would require banks to monitor all online gambling transactions made via electronic checks and credit cards, the smaller banks spoke out vehemently that the costs to do this would be astronomical. The larger banks agreed there was no such means to monitor such transactions in place currently and nothing would likely be in place within the 270 day window allotted by legislators.
"I don't feel comfortable with this meeting taking place at all," said one industry observer who runs a highly successful website.
His concern focused not so much on the recently passed law but rather individual states looking to enact their own legislation to ban online gambling.
New York State, now governed by an outspoken opponent of internet gambling, Elliott Spitzer, is rumored to be considering its own legislation to ban internet gambling entirely.
To date, Washington is the only state that makes it a Class C felony for an individual to gamble online. Whenever possible, uincle sam discourages Washington State residents from betting online. They can potentially face the same punishment as a child sex offender or second time drunk driver.
our sources were not privy to the discussions that transpired in Key West, Florida. It is not known the direction in which talks were heading and it is highly doubtful that a bunch of politicians were there bashing Bill Frist (who helped push the online gambling law through).
The most outspoken legislators currently serving in Congress as it pertains to internet gambling restrictions are against the recent law, however. Shelley Berkley (D) of Nevada expressed disgust over the passage of this online gambling legislation back in November.
"This (internet gambling) legislation has a loophole big enough to drive a truck through that was designed solely to protect betting on horse racing and lotteries over the Internet," she told Gambling911.com's Kira Wissman.
The Poker Players Alliance has been working hard to get online poker exempt from the recently passed legislation and their efforts looked promising.
"We, like many in the industry, are in the midst of a restructuring program that is proving to be relatively seamless," commented Gambling911.com's Payton O'Brien. "The (online sports betting) industry is becoming more and more Euro focused but more so the companies based there seem better in tune with what their gamblers want. Online poker sites catering to the US market are now coming into their own and looking to market heavily over the Web."
Gambling911.com's weekend traffic consisted of 35% Great Britain and Canada combined. Another 20% went to a combination of other countries outside the US.
"Poker traffic is through the roof," O'Brien also pointed out.
| New Internet Gambling Law
Legislators met this past week in Key West, Florida to discuss the new internet gambling law and how to best go about implementing it.
The focus was on how far the banking industry would have to go in monitoring such online gambling transactions.
It is doubtful they - the banking sector - would be required to do much at all. Immediately following passage into law of a measure that would require banks to monitor all online gambling transactions made via electronic checks and credit cards, the smaller banks spoke out vehemently that the costs to do this would be astronomical. The larger banks agreed there was no such means to monitor such transactions in place currently and nothing would likely be in place within the 270 day window allotted by legislators.
"I don't feel comfortable with this meeting taking place at all," said one industry observer who runs a highly successful website.
His concern focused not so much on the recently passed law but rather individual states looking to enact their own legislation to ban online gambling.
New York State, now governed by an outspoken opponent of internet gambling, Elliott Spitzer, is rumored to be considering its own legislation to ban internet gambling entirely.
To date, Washington is the only state that makes it a Class C felony for an individual to gamble online. Whenever possible, uincle sam discourages Washington State residents from betting online. They can potentially face the same punishment as a child sex offender or second time drunk driver.
our sources were not privy to the discussions that transpired in Key West, Florida. It is not known the direction in which talks were heading and it is highly doubtful that a bunch of politicians were there bashing Bill Frist (who helped push the online gambling law through).
The most outspoken legislators currently serving in Congress as it pertains to internet gambling restrictions are against the recent law, however. Shelley Berkley (D) of Nevada expressed disgust over the passage of this online gambling legislation back in November.
"This (internet gambling) legislation has a loophole big enough to drive a truck through that was designed solely to protect betting on horse racing and lotteries over the Internet," she told Gambling911.com's Kira Wissman.
The Poker Players Alliance has been working hard to get online poker exempt from the recently passed legislation and their efforts looked promising.
"We, like many in the industry, are in the midst of a restructuring program that is proving to be relatively seamless," commented Gambling911.com's Payton O'Brien. "The (online sports betting) industry is becoming more and more Euro focused but more so the companies based there seem better in tune with what their gamblers want. Online poker sites catering to the US market are now coming into their own and looking to market heavily over the Web."
Gambling911.com's weekend traffic consisted of 35% Great Britain and Canada combined. Another 20% went to a combination of other countries outside the US.
"Poker traffic is through the roof," O'Brien also pointed out.
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