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Microcap & Penny Stocks : GLOW - Global Games, Inc. - Great Profit Potential !

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To: JRR4 who wrote (4252)7/8/1998 8:11:00 AM
From: steven l  Read Replies (4) of 8879
 
Lets not get too excited!

While the news we have heard is great we must always remember that their are those out their that want to rain on our parade. And if they
take some action at the wrong time we could all lose our shirts
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WASHINGTON - Gambling on the Internet is
exploding into a $10 billion industry. But if Congress
and state lawmakers have their way, playing blackjack
in your pajamas will soon be a thing of the past.

There's a lot more at stake than protecting consumers
from unscrupulous bosses of virtual casinos. The huge
investment in legalized gambling at real casinos is
seriously at risk. And so are tax revenues. Both these
areas will be impacted if gamblers move from the real
casinos to the neon strip of the World Wide Web.

For these reasons, a broad coalition of interests has
pressured Congress to crack down so hard on online
gambling that making any wager online could be banned.

Reps. Bob Goodlatte, R-Va., and Frank LoBiondo,
R-N.J., introduced in September the Internet Gambling
Prohibition Act (H.R. 2380). Sen. Jon Kyl, R-Ariz.,
introduced a similar measure (S. 474) in the U.S.
Senate.

"The ability of the World Wide
Web to penetrate every home
and community across the
globe has both positive and
negative implications,"
Goodlatte said when he
introduced his bill on Sept. 3.
"While it can be an invaluable
source of information and
means of communication, it can
also override community values
and standards, subjecting them
to whatever more may or may
not be found online. In short, the Internet is a challenge
to the sovereignty of civilized communities, states, and
nations to decide what is appropriate and decent
behavior."

Gambling is an excellent example of this situation,
Goodlatte said. In terms of current U.S. law, gambling is
illegal unless regulated by the states. With the
development of the Internet, however, prohibitions and
regulations governing gambling have been turned on their
head.

"No longer do people have to leave the comfort of their
homes and make the affirmative decision to travel to a
casino; they can access the casino from their living
rooms," Goodlatte said.

Goodlatte's proposed law seeks to protect the right of
citizens in each state to decide through their state
legislatures if they want to allow gambling within their
borders, "and not have that right taken away by
offshore, fly-by-night operators," Goodlatte said.

In terms of the bill, anyone
convicted of running an Internet
gambling business is liable for a
substantial fine and up to four
years in prison. Those who
place bets or wagers with
virtual casinos would face a
fine and up to six months in
prison. Law enforcement
authorities would also be given
the right to order ISPs to block
access to gambling sites.

The legislation is supported by
organizations across the
spectrum, from consumer
activists such as Ralph Nader
and from the National Coalition
Against Legalized Gambling to
the American Gaming
Association. Additional
supporters are the National
Association of Attorneys
General and the National Football League.

"The Internet Gambling Prohibition Act ... will keep
children from borrowing the family credit card, logging
on to the family computer, and losing thousands of
dollars -- all before their parents get home from work,"
Goodlatte said.

The states are also throwing their weight behind Congress' moves to ban online gambling.
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Watch this carefully, I would guess some of these groups have very strong congressional lobbies. Also a question; does anyone know if any other countries have banned or have proposed banning internet gambling? And does anyone have figures on what percent of the worldwide internet gambling dollar comes out of the United States?

By the way, I am buying more GLOW today!!!
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