REid bill online gambling

[richb7a]

about to pass, boom the whole industry if pas. i would start a book. However, under law five history to be grand fathered, and be difficult to establish

[wtt0315]

http://www.google.com/hostednews/ap/article/ALeqM5hU4tF_tgCcHKh75VaT3bkxCnFP4g?docId=08621650021d46198a75298a9bf884d3

[wtt0315]

probably wont pass but would be good for poker

[Kaabee]

hope this goes through

[chase hardy]

might be a good thing, might be a bad

[sharpcat]

about to pass, boom the whole industry if pas. i would strart a booksed

A) you have not owned a casino or race track in the US for 5 years.

B) This internet bill will not lift the federal ban on sports betting.

This bill does not benefit US sports bettors in any way since offshore books will not be eligible to get a license which will only give the US a new law to chase offshore sports books away from the US completely. This bill will likely be the end of offshore sports betting if it passes and the federal ban on sports is not lifted.

If you enjoy sports betting you should be against this law, it only benefits poker players and will most likely harm sports gamblers.

Read the rest of the book folks the cover does not tell the whole story.

[mtneer1212]

There is no online gambling legislation that will be good for sports bettors ---- only poker or horse players will ever benefit.

[RonPaul2008]

I REALLY hope this doesn't pass! I hope you fuckers realize this would cause major problems with offshore sportsbooks.

[Igetp2s]

This has 0 chance of passing, he's just trying to throw his casino backers who helped him win reelection a bone.

[albo gator]

This has a very good chance and here is how. Remember your history lesson and how the UIGEA was attached to the Ports Security Act (a must pass bill that was funded in the lame duck session of Congress back in the days when Bill Frist a Republican from Tennessee was majority leader in the Senate).

No vote on the bill it self was necessary. It was attached as a rider to a must pass bill that everyone will vote for. Imagine if the Democrates give the Republicans across the board extension of the Bush-era tax cuts. This is something that the Republicans really want. So in order to get it they have to swallow this rider being attached.

So there is not 0 chance this happens. There is probably 50% chance this happens. If it does not happen now then a smaller majority in the Senate and a House controlled by Republicans next session make it highly unlikely to pass then. But if you know your history this is the exact same scenario that we saw when the UIGEA was passed.

I'm not sure if this would be good in any way for sports bettors, but if you are a poker player this is a dream!

[macb]

sportsbooks will always find a way. no worries there.

[JoeVig]

"I think I will play some poker online."
"Oh, they let me transfer from the poker room to their sportsbook??"

[Seattle Slew]

As with most gambling bills, no chance this advances.

[sq764]

about to pass, boom the whole industry if pas. i would start a book. However, under law five history to be grand fathered, and be difficult to establish

its a great bill for us get some support to not have to act like convicts just to cash out

[THEGREAT30]

lame bill

[TobiasFunke]

Can I play at your book, Rich?

[LegitBet]

Hey Tony, there's a bill pending in jersey now.

[coldhardfacts]

Just curious - why would this make things worse for sports bettors? Is there anything in the bill that specifically addresses sports betting, or gambling on "non-licensed" sites?

[katstale]

Not discussing the merits of the bill at all, but just from a "money movement" standpoint. ANY bill like this would aid sports bettors in that it would alleviate banks from being the police over transactions. No way could they begin to figure out what is a poker movement vs all other kinds of gambling transactions, nor would they want to. Anything that aids liquidity back into the market is good for sports bettors.

[sharpcat]

Not discussing the merits of the bill at all, but just from a "money movement" standpoint. ANY bill like this would aid sports bettors in that it would alleviate banks from being the police over transactions. No way could they begin to figure out what is a poker movement vs all other kinds of gambling transactions, nor would they want to. Anything that aids liquidity back into the market is good for sports bettors.

The problem lies in the fact that the US will use the law to prevent non-licensed casinos from operating in the US and since sports betting is illegal in 48 states there will be no sports betting offered.

One of the possibilities involves charging US residents a 50% tax on deposits to unlicensed books, meaning if you deposit $1,000 you will owe $500 in taxes so I am sure they will in some way or another add something in the bill to eliminate offshore sports betting.

[coldhardfacts]

One of the possibilities involves charging US residents a 50% tax on deposits to unlicensed books, meaning if you deposit $1,000 you will owe $500 in taxes so I am sure they will in some way or another add something in the bill to eliminate offshore sports betting.

I know this has been discussed, but are you sure this is part of the Reid bill?

[sharpcat]

I know this has been discussed, but are you sure this is part of the Reid bill?

If any type of bill is passed it is very likely that the government will write the law in a way that will give them a weapon against offshore casinos/bookies. This is an opportunity for the government to mak another attempt to shutdown offshore gaming in the US since their attempt with UIGEA failed.

If you are hoping that this bill will be beneficial to sports gamblers than you have very high hopes and I would suggest that you expect the worst.