» Subscribe to Newsletter
» Switch to BizTech2.com
Home » News » Entertainment Internet & Software » US Not Game For Online Betting
US Not Game For Online Betting
By: Priyanka Pradhan   |   Jul 05, 2006
The $12 billion online betting business is in jeopardy, thanks to the proposed US bill that is bound to terminate wagering on the internet. Casinos and sports leagues have now started to lobby against the enforcement of the bill, which puts them in direct conflict with antigambling coalitions.

The proposed bill makes it illegal to use a banking instrument like a check or credit card to settle Internet wagers, and it would penalize institutions that act as intermediaries channeling money between the offshore gambling enterprises and American bettors. The measure would also update the Wire Act of 1961 to prohibit Internet gambling specifically.

Proponents of internet gambling argue that wagering online is legal in more than 80 countries, in some form or the other and the bill goes against the growing tide of international wagering. Britain, for instance, is about to devise a tax-and-regulatory structure that it hopes will entice offshore gambling companies to locate there. Anti-bill lobbyists also insist that gambling is just an extension of entertainment and that they are game for regulations to protect consumers. Nevertheless, the bill will be voted on this summer as part of what the Republicans call their American Values Agenda.
Tags:
 
Ads by Google 
Post a Comment on “ US Not Game For Online Betting”
Comment : 
Name : 
City : 
Email : 
US Not Game For Online Betting
Offshore Banking Answers @ Jul 07, 2006
Ads by Google 
Ads by Google
Products
Camcorders  |   Controllers  |   CPUs  |   Desktop PCs  |   Digital Cameras  |   Digital Video Recorders  |   DVD Players  |   Games  |   Gaming Consoles  |   General  |   GPS Systems  |   Handhelds / PDAs  |   Hard Drives  |   Headphones & Headsets  |   HiFi Audio Systems  |   Home Theater Systems  |   Input Devices  |   Internet  |   Laptops  |   lenovo  |   Low Level Components  |   Mac Systems  |   Mobile Phone Accessories  |   Mobile Phones  |   Monitors  |   Motherboards  |   MP3 / Audio Players  |   Multi-Function Devices  |   Networking  |   Optical Drives  |   PC Accessories  |   PC Add-on Cards  |   PC Cabinets  |   PC Games  |   Printers  |   Projectors  |   RAM Modules  |   Scanners  |   Software  |   Speakers  |   Telecom  |   TVs  |   Video Players  |  
Careers | About Us | Ad Inventory | Site Profile | Feedback | Copyright © 2007, Tech2.com India - A Network 18 India Venture