Fight for Legalization of Internet Gambling: Opportunity for Action

SBR Lou · 08-12-08, 04:16 PM

Originally posted by JeffreyS

We encourage you to take action today

I'm sure some of us will.

RogueJuror · 08-12-08, 04:40 PM

molotov cocktail, Jeffrey

SlappyWhite · 08-12-08, 06:01 PM

I prefer to stay in the shadow economy. Taxes suck.

gordon gekko · 08-12-08, 06:05 PM

Never going to happen in the U.S.

frostno98 · 08-12-08, 06:30 PM

I think legalizing internet gambling will completely ruin the next generation and this country, with all the credit problems were having already. What the Government is doing right now is good already. Just leave it as a gray area, and act like their doing something but don't really enforce it.

JC · 08-12-08, 06:36 PM

HR 2046 is anti-sports betting. It throws sports under the bus in the name of poker.

The only outstanding bill anyone here should support is HR H.R. 5767, introduced by Reps. Frank and Ron Paul (R-TX) that would prohibit the Department of the Treasury and Federal Reserve System from proposing or implementing any regulations related to the current ban on Internet gambling, as required by the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA).

SlappyWhite · 08-12-08, 08:13 PM

current gambling legislation places an unfair burden on banks.

durito · 08-12-08, 08:30 PM

Originally posted by SlappyWhite

I prefer to stay in the shadow economy. Taxes suck.

If you are a US citizen you owe taxes now on gambling winnings.

WileOut · 08-12-08, 10:14 PM

What do you guys think about HR 2140. It requires a comprehensive study on internet gambling so the government can have right in their faces the actual numbers that show them that internet gambling is not a bad thing. Leaves no room for Bachus and gang to spit out retarted "less than 0.5% scenerios" as the reasons for their actions.

genyes · 08-13-08, 07:11 AM

The worst thing that could happen is for the US government to become involved in offshore wagering. The US government is a reverse alchemist: It takes gold and turns it into shit.

If the US government becomes involved costs to books will increase and the government will be trolling around in our private business (even more than it already does).

When I retire in a few years I'm planning on bailing from "The Land of the Free".

The HG · 08-13-08, 12:18 PM

Originally posted by frostno98

Just leave it as a gray area, and act like their doing something but don't really enforce it.

Seems to me like they ARE enforcing it. The gray area/no enforcement time was pre-UIGEA. No Pinny, no Neteller - that's enforcement.

TeamPlayer · 08-13-08, 12:23 PM

All U.S. citizens are expected to pay taxes on gambling winnings no matter what. If you don't believe this, speak to any accountant and I guarantee you they will say that you are obligated to pay the taxes.

daggerkobe · 08-13-08, 12:35 PM

Paying taxes on illegal activity does not grant you immunity from being prosecuted for the activity. It would be like drug dealers, prostitutes and hitmen paying taxes and thinking they won't get in trouble.

durito · 08-13-08, 12:39 PM

Originally posted by daggerkobe

Paying taxes on illegal activity does not grant you immunity from being prosecuted for the activity. It would be like drug dealers, prostitutes and hitmen paying taxes and thinking they won't get in trouble.

Of course not. But, it does "grant you immunity" from being prosecuted for tax evasion.

And since it is not illegal to gamble on sports online, the only law you are breaking is the tax law if you don't pay your taxes.

daggerkobe · 08-13-08, 12:44 PM

Tax isnt even an issue since the government will confiscate 100% of your winnings since you obtained it illegally.

Steeltown · 08-13-08, 01:14 PM

We have opportunity for action everyday with our choices of books to send money too. Unfortunately some people only care about bonuses and free half point Fridays and so they continue to send money to scam books like BetUS and Bet Royal and in turn hurt every player and the future of this industry!

durito · 08-13-08, 01:43 PM

Originally posted by daggerkobe

Tax isnt even an issue since the government will confiscate 100% of your winnings since you obtained it illegally.

SlappyWhite · 08-13-08, 01:46 PM

Originally posted by durito

If you are a US citizen you owe taxes now on gambling winnings.

Yes and you always have, if you win at a vegas casino it gets reported in the form of a 1099g or i or something like that (big win over a certain dollar ammount). Online books don't report to the IRS so you can technically not report your winnings and if you use a debit card and atm and spend your cash on stuff like food and services that aren't easily tracked like say a car or a house you can augment your income with a small tax free portion from your gambling proceeds.

SlappyWhite · 08-13-08, 01:48 PM

Originally posted by durito

Of course not. But, it does "grant you immunity" from being prosecuted for tax evasion.

And since it is not illegal to gamble on sports online, the only law you are breaking is the tax law if you don't pay your taxes.

QFT, the legality of gambling online in the us is not clearly spelled out. The only thing clearly spelled out is it is illegal for financial institutions to transfer funds to them, hence the unfair burden on the banking industry.

WileOut · 08-13-08, 08:59 PM

Originally posted by daggerkobe

Tax isnt even an issue since the government will confiscate 100% of your winnings since you obtained it illegally.

Its not illegal in most states to bet online or receive online winnings. You need to look up where your state stands on this issue. It is not illegal federally to place a bet.

I don't know if the government can use the UIGEA to confiscate any winnings you get. I dont think so because the UIGEA was not set up to police individual gamblers, only financial institutions. I do know that if you pay taxes on your winnings, the IRS can't legally pass on any information about how you obtained your money to any other government agency. Whether they follow this law I don't know.

Read about the guy in North Dakota that got busted for being a professional online gambler. They ended up charging him with a misdemeanor and giving him a $500 fine I believe. They raided his house and the law enforcement ended up looking stupid so they charged him with this little misdemeanor, the only thing they could come up with.

However do not take my advice as rock solid, you need to ask a tax accountant or tax lawyer and take their word over mine.

TeamPlayer · 08-13-08, 10:14 PM

DaggerKobe,

Think of it this way......NO individual bettor has ever been prosecuted for gambling in the United States EVER

Up to this very day, the government has only prosecuted bookies. Again, they have NOT prosecuted individual bettors like yourself.

But they certainly have prosecuted individuals for avoiding paying their taxes.

Therefore, as an individual bettor, the only risk you have of going to jail is by NOT paying your taxes.

krk1030 · 08-13-08, 11:28 PM

They cant prosecute you for gambling because it's not illegal.