The Senate recently snuck a new law through prohibiting credit card companies and banks from facilitating transfers with online gambling companies by attatching it to a port security bill. Is this really going to stop online gambling/poker or will the 70 million or so poker players in the U.S. just find another way to fund their accounts? Wouldn't regulation have been a better idea than prohabition anyway?
Note: if you want more info before you answer check out http://www.moderngrinder.com for a list of articles on the subject.
2006-10-03 07:21:02 · 7 answers · asked by DarkWolf 4 in Games & Recreation ➔ Gambling
Evidently Frist is just a prick who thinks that outlawing things is always the right idea. Maybe next time he will try and sneak a law in to close down Las Vegas.
It baffles me that someone who is supposed to be representing the people decides to push laws onto the books that people don't want. Less than 20% of Americans want to see online gaming outlawed, yet without any debate or discussion Frist shoves this into an anti-terror port security bill. This is sleazy underhanded politics at best and shows the true colors of this crooked politician.
If all this wasn't bad enough Frist used the excuse that gambling hurts the fabric of families, but put exclusions in the bill permitting betting on fantasy games, online lottery and horse race betting. So even by his own twisted logic this bill is a joke.
To answer your question, I don't think this law will have too much effect. Some companies will withdraw from the American market and most will stay around. People will be able to use companies like Neteller to fund and withdraw from online gambling accounts. All this bill does is push it slightly further underground and provide even more opportunities for non-American companies to cash in.
2006-10-03 08:34:32 · answer #1 · answered by ZCT 7 · 1⤊ 0⤋
It probably won't eliminate it but there is a risk that the companies that emerge to accept US wagering over time will be the unsavory elements. A lot of the good, solid, and safe public companies will leave the marketplace. It is such a shame for those who enjoy playing these games of chance and skill.
2006-10-03 11:40:32 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Being a person who works for a bank, it is clear to me that this law will stop most internet banking in the states. No financial institution will go against this law. Since 9-11 the world has tightend there banking laws too help stop terrorist from moveing their money around. Most UK sites have already stated that they will block all US ip addresses from accessing there sites. Partypoker being the biggest. It comes down to a simple fact. IF YOU CANT PAY U CANT PLAY. How will the americans fund their accounts.
2006-10-03 09:11:22 · answer #3 · answered by pokerboy 1 · 0⤊ 1⤋
I doubt it. There's too many sites still offering games to US players, plus a bunch more that haven't announced yet. Regulation would be a much better idea.
But with 8 sites according to http://www.ultimatepokerbankroll.com having announced they'll keep US players and dozens more yet to announce it is hard to imagine that US online poker will go away. It just might be a bit harder to play.
Thanks for the link to modern grinder though they have some articles I haven't read.
2006-10-03 10:34:37 · answer #4 · answered by Anonymous · 0⤊ 0⤋
prohibition never works. Look what happened in the 1920s when booze was banned. we put organized crime in business. Same holds true for illegal drugs...criminals get rich and demand for the product stays the same.
2006-10-03 07:52:38 · answer #5 · answered by alanc_59 5 · 1⤊ 0⤋
No more than 18 USC 2257 made the porn industry collapse.
2006-10-03 07:30:00 · answer #6 · answered by Laquishacashaunette 4 · 1⤊ 0⤋
no
2006-10-03 12:47:17 · answer #7 · answered by Anonymous · 0⤊ 0⤋
no
2006-10-03 07:24:05 · answer #8 · answered by gin 1 · 0⤊ 0⤋