SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Gambling, The Next Great Internet Industry
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Herc who started this subject6/21/2001 8:06:48 AM
From: Herc  Read Replies (1) of 827
 
ELOT'S assessment of the federal regulatory/legislative climate now...

<<Supporters of a ban on Internet gambling have been forced to regroup in the nation's capital. The failure to pass legislation last year has made them realize that they must make changes in their bill. Rep. Bob Goodlatte (R-VA), the primary sponsor in the House of Representatives, has already conceded that he will have to make an exception for state lotteries in order to garner enough votes to pass any legislation this year. He has indicated that he will attempt to use credit cards as the enforcement mechanism, making it illegal to use a credit card for an on line wager. Cong. John Sweeney (R-NY) has made it clear that he would again offer an amendment that would exempt the credit card provision from any wager that was regulated by state governments. The horse racing industry has sent a strong signal that they cannot accept any ban on credit card wagers and the credit card issuers themselves will object as a restraint of trade.

Any attempt to use pre-paid cards will be objected to by those supporting the horse racing industry. The change in the U.S. Senate from Republican to Democratic control makes the passage of any Internet gambling bill very difficult. Even before the switch several key Senators had indicated that they intended to take a strong look at any bill this year and ensure that the rights of states to regulate gaming within their own borders was protected. Passage of Internet gaming legislation in Nevada and New Jersey has made the prospect of federal legislation even more problematic.>>
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News