As Dom has said … it is only law in Washington State.
However – it is proposed in the senate and only a fortunate August holiday break has stalled it … and hopefully allowed a bit of time for sense to prevail.
As for what does it mean ?
In future.
Well if it was passed it would be very tough for US based webmasters to promote online gambling. We’ve seen one prominant member of this forum have to close down his site.
That is a very REAL possibility – if it is passed.
Right now ?
Arrests :
The arrest of a BetonSports executive who is based in Costa Rica – and was only passing through the United States on his way home from London – is an extremely worrying development.
His arrest has nothing to do with the Washington State law – and appears to be the Department of Justice flexing it’s muscle to suggest that current bookmaking and gambling activities (casino and poker – but not horse and lottery?!!) are illegal when offered to American citizens.
(This trial will be a test of very old wire-transfer laws)
The Markets :
The markets (who have far more invested in this area than any of us) have reacted badly to the news – and many publicly listed stocks (on the UK markets) have been marked down by as much as 20%-25%.
Some of this will be “reef-fish” mentality of private investors – dumping stock on bad news – but the fact that the institutional investors have not moved in to hoover up “cheap” stock speak volumes for the current uncertainty.
My summary ?
This law doesn’t seem right – it’s more the sort of this that you expect to read about in China or the old Soviet union than the United States.
But there are many various lobby groups, senators, horce race owners, state lotttery providers, even native american indian tribes who have an interest in minimising online gambling to boost their own particular investments.
The law doesn’t seem right – I don’t THINK it will pass – but crazier things have happened.
:eh: