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Microcap & Penny Stocks : GGNC - GIC/Global Intertainment Corporation

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To: golfer18 who wrote (1576)1/1/1999 12:47:00 PM
From: John Sladek  Read Replies (1) of 2585
 
golfer18,

Having worked for a national ISP (which will remain nameless) I believe this law will be unenforceable. It is censorship the same as porn. ... I haven't read this Kyl bill, but I give it a very low probability of hurting any net gambling company that is determined to do what it wants.

Here's the a URL to the Kyl bill - thomas.loc.gov )

And here is some commentary on the regulation of internet gambling:
lotteryinsider.com.au
lotteryinsider.com.au

ENFORCEABILITY
Although it might be impossible to have an ironclad ban on Internet gambling if the U.S. decides to pursue this route, [Gaming Commissioner Leo] McCarthy said it is possible to put a sizable dent in the industry by targeting the Internet gambling's support structure such as financial institutions.

"It is much too early to say we can't put the brakes on a lot of this gambling," McCarthy said. "A lot of the Internet gambling needs cooperation of credit card companies and some banks and of other business entities that are domestically based."


and

Mickey Charles, president of Sportsnetwork -- a real time sports information wire, said the government should work with the Internet gaming industry to establish reasonable regulations ... "If you try to regulate gambling and gamblers right down to the "nth " degree then you might as well toll the death knell for that part of the industry," Charles said. "Believe me, you will just regulate them out of business."

Charles said some Internet companies will first resist the government's attempt to regulate, but he added most will comply and the others will fall into line.

Charles suggested the government take the same approach with Internet gaming as it did when it drove organized crime out of Las Vegas' casinos.

"Make it a corporate thing," he said. "And make sure it stays (corporate)."


FIRST AMMENDMENT
Eric Goldman, a California attorney with cyberspace business clients, told the commission he thinks it is possible to regulate Internet gaming, but warned it should not infringe on people's First Amendment rights of free speech.

"I personally believe that electronic communications related to gambling can be regulated under the First Amendment," Goldman said. "But only if the regulations can be drawn narrowly and very precisely in order to avoid the chilling effects that could occur."

Goldman said electronic information transmitted over the Internet including gaming is generally subject to some level of First Amendment protection. But he said of the regulations were drafted correctly, they would not trample people's free speech rights in cyberspace.

"I think narrowly drawn and precise regulations are crucial to preserve the free flow of electronic communication, and also to avoid the uncertainty created by businesses that do not know if their efforts are running afoul with broadly described regulations," Goldman said.


OTHER LEGAL ISSUES
Another complaint about Internet gambling is one that should particularly concern any would-be cyber-bettors: forcing a Web site based in Antigua to pay up is a little more difficult than finding the neighborhood bookie.

"Someone who is fortunate enough to win while gambling on the Internet may never see a dime of his or her winnings," [Massachusetts Attorney General Scott] Harshbarger said. " The likelihood of fraud and illegal activity is a gamble we should not take. "


and

The BBC reports that, UK police say gambling over the Internet is becoming a cause for concern with investigations being launched into virtual casinos.

The Association of Chief Police Officers' Computer Crime Group says there is no guarantee that online games such as roulette are played fairly and gamblers giving their credit card details could be putting themselves at financial risk ....

For police, crime is a greater concern than addiction. How do you know a computer game of roulette has not been fixed and can you trust giving your credit card details to an organisation based on a small offshore island?


Regards,
John Sladek
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