ASSuming Barney "The Catcher" Frank gets the gambling law reversed. Do you think Vegas will open up online books, or do you think off-shore books will just get certified and send all our records to the IRS?
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"The Catcher" Frank
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No.
A repeal of UIGEA does not make internet gambling legal.
You should be sending your records to the IRS anyway.Comment -
Why?Comment -
Well, I believe Franks bill legalizes online gambling and of course makes the UIGEA obsolete. Vegas casinos have started changing their approach and now are supporting onling gambling and several already have made sites, from what I hear at APCW.
Now how is this going to play out, that is another story. Remember in Washington State it is a felony to gamble online. So, state laws would still be in effect. States like Texas it wouldn't be a problem as it is already legal to gamble from your home, just not in a public place. I am sure states would start to fall in-line. California is already pushing to legalize online poker from what I hear. So, it should be an exciting year...Comment
