Tag Archives: internet gambling

Is Gambling Moral or Immortal? (Page 1 of 2)

The US Congress passed The Safe Port Act that also included the “Unlawful Internet Gambling Enforcement Act of 2006” (UIGEA) that aims to make it illegal for US banks to process transactions related to online gaming. The bill was signed into law by President Bush on October 13 and several big name UK companies instantly lost the majority of their income.

The bill was clearly politically motivated by Republicans who are worried about losing control in the House after the November election. House Republican leaders announced that this bill would be part of a 10-part “American Values Agenda,” which consists of 10 unrelated pieces of legislation, including a constitutional amendment prohibiting same-sex marriage, tax cuts, a flag burning law, and extensive restrictions on stem cell research. Furthermore, this is a way our legislators can separate themselves from the now-disgraced lobbyist Jack Abramoff, who lobbied against previous versions of this bill using bribes, fraud, and hundreds of thousands of dollars to assist in the bill’s defeat.

The democratic take over of the House and Senate may be the best thing that could have happened to the internet gambling community since the UIGEA passed. Especially considering the particular Democrats who took seats from Republicans.

Massachusetts Democrat Barney Frank, who is expected to chair the Financial Services Committee, has a libertarian approach to gambling and does not believe that the U.S. should be telling people how to spend their money.

Most Americans do not know that debate was not allowed on this bill. Amendments were not allowed, the Act/deal was made behind closed doors and only a very select few people were in on it. Well, as millions of Americans head to their computers for a little safe and legal online gaming some weekend expect them to discover what has gone on behind their backs.

Probably, the first time they ever tried to play online they were shocked to find that their credit cards disallowed the transaction. This shock would inevitably have been followed by a call to their bank to ask why they were not allowed to use their own money where they wanted. The response they would typically get would simply be, we do not allow transactions of this type. More shock and awe. That a bank that they trust to keep their personal and hard earned money safe, will not allow them to spend it the way they want.

We can read such messages on index pages of gambling sites: “Dear Valued Player, As a result of the recent internet gaming bill in the USA, the Casino Golden Palace Online partner sites will no longer allow gaming by USA residents.” ( Casino Golden Palace

The Role of Online Gambling in American Economy

Gambling is a thrill ride. Gambling is dangerous. Gambling can make you temporarily rich. But if the hook gets lodged in your mouth, it will make you broke as a joke, or even worse.

The online gambling in the United States is considered a billion dollar industry before the enactment of the unlawful Internet Gambling Enforcement Act last 2006 which prohibit businesses from accepting credit cards, checks, or other bank instruments from gamblers who illegally bet over the Internet. Compliance with those prohibitions and regulations would be enforced by various federal agencies as well as state governments, and violations would be subject to new civil remedies and criminal penalties. It was recorded that most of the online bets are coming from the United States approximately with about 80 percent or beyond. These billion dollars are probably used to be to support and strengthen the US economy. In addition, things are getting worse to the US government. Recently, they have already an arrangement to pay millions of dollars as payment for the penalty of the island Antigua. This is due to poor compliance of the decision of World Trade Organization when it comes to online gambling.

Some of the US Presidential candidates have strong understanding towards the role of this activity in the lives and progress of the country in a legalized form. There are some pros and cons in the legalization of online gambling, Republican Ron Paul speak out against any form of internet gambling prohibition, in contrast, a well-known poker players, Hillary Clinton and Barack Obama are in support of this issue.

Online gambling is a competitive business many gambling sites will provide good offers to get potential gamblers to use their site and stay with them. It brings many benefits to the countrymen. As time passes by, these Internet gambling companies would bring more employment to the Americans. One best example how beneficial the industry is at the online gambling destination of Costa Rica which is among the highest paying industry in the place. Many gambling operators raise millions of dollars back into the Costa Rican economy. The industry requires a skilled work force with highest knowledge in English.

Online gambling in many ways illustrates just what is wrong with the US economy today. Jobs and whole industries are emerging elsewhere in the world with less and less being fed back into the American economy. The whole world was feared especially American highest officials, economists and business leaders as well to the possible dragged down of the US economy. Political and business leaders with around 2,500 members gathered for a serious meeting about the present US economic situation at the Swiss skiing resort of Davos.

The International Monetary Fund (IMF) chief Dominique Strauss-Kahn recently announced for the economic forecast the following week to keep track what will happen for the economy in the mere future. In many ways, online gambling shows just what is happening with the US economic situation today. With the blossoming economy of Costa Rica, this will be the substitute to support to the world economy as IMF chief stressed out.