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Government Delays New Ban On Internet Gambling

Posted by Soulskill on from the twenty-bucks-says-they-extend-it-again dept.

The Installer writes with this quote from the Associated Press: "The Treasury Department and the Federal Reserve are giving US financial institutions an additional six months to comply with regulations designed to ban Internet gambling. ... The delayed rules would curb online gambling by prohibiting financial institutions from accepting payments from credit cards, checks or electronic fund transfers to settle online wagers. The financial industry complained that the new rules would be difficult to enforce because they did not offer a clear definition of what constitutes Internet gambling. They had sought a 12-month delay in implementing provisions of the Unlawful Internet Gambling Enforcement Act that Congress had passed in 2006. ... US bettors have been estimated to supply at least half the revenue of the $16 billion Internet gambling industry, which is largely hosted overseas."

1 of 143 comments (clear)

  1. Why can't we have on line sports betting in the us by Joe+The+Dragon · · Score: 3, Interesting

    Why can't we have on line sports betting in the us?

    We can tax it and make money off it vs not getting tax on the people who sent there money to places out side of the us to do the same thing.