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Old 12th July 2006, 07:48 AM
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Re: House Passes Bill to Limit Internet Gambling

Quote:
Originally Posted by touchring
Internet gaming is one big loophole that America will eventually curb - all those tax evasion, money laundering runs into billions of dollars, contributes to the current account deficit.
Sounds like a problem of its own making. Britain removed tax on gambling, presumably to prevent such off-shore cash drain. With the USAs desparate trade balance, it should probably consider not only legalising it, but also removing the tax.

It is clear that it cannot prohibit gambling. By attempting to do so, it also looses any chance of regulating it.

Quote:
Originally Posted by thegenius1
"The legislation would make it illegal for banks and credit card companies to make payments to these sites. It also allows law enforcement officials to force Internet service providers to remove links to the websites. Many major credit card companies already refuse to process such payments. Opponents of the bill, including online gambling sites and a new group representing U.S. poker players, noted the growing popularity of Internet gambling and predicted that people would continue to sidestep laws."

http://www.latimes.com/news/nationwo...a-story-footer
Confirmed.

http://news.bbc.co.uk/2/hi/business/5171034.stm
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Last edited by Rubber Duck; 12th July 2006 at 10:50 AM.. Reason: Automerged Doublepost
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