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Yeah, but wouldnt that mean it would be illegal for US banks to allow transactions to Neteller, Firepay etc. making them useless just the same as depositing at a poker room.
But…. NETeller isn’t an online gambling site. It is an electronic wallet, similar to Paypal. A U.S. bank isn’t going to follow your money once it is transferred from you bank account to your NETeller account. For all the bank knows, you’re buying poker chips, or you’re paying for other non-gambling services.
But if its a company that allows transactions to gambling couldnt they disallow banks from making transactions to those sorts of sites? I definately hope youre right but with the way crap has been going down….who knows.
war wrote:http://today.reuters.com/news/articleinvesting.aspx?view=CN&storyID=2006-09-30T044852Z_01_N30299961_RTRIDST_0_CONGRESS-TECH-GAMBLING.XML&rpc=66&type=qcnaWASHINGTON, Sept 30 (Reuters) – Most forms of Internet gambling would be banned under a bill that received final U.S. congressional approval early Saturday.
The House of Representatives and Senate approved the measure and sent it to President George W. Bush to sign into law.
The bill, a compromise between earlier versions passed by the two chambers, would make it illegal for banks and credit card companies to make payments to online gambling sites.
Democrats had accused Republicans of pushing the bill to placate its conservative base, particularly the religious right, before the Nov. 7 congressional elections.
“It’s been over 10 years in the making. The enforcement provisions provided by this bill will go a long way to stop these illegal online operations,” said Sen. Jon Kyl, an Arizona Republican and a chief sponsor of the measure.
Negotiators from the Republican-led House and Senate reached a deal on the legislation Friday and attached it to unrelated legislation to bolster port security, which the Congress approved.
The final bill dropped earlier provisions opposed by some gaming interests that would have clarified that a 1961 federal law banning interstate telephone betting also covers an array of online gambling.
Investors in British-based gaming companies such as BETonSPORTS Plc (BSS.L: Quote, Profile, Research), Partygaming Plc (PRTY.L: Quote, Profile, Research) and 888 Holdings Plc (888.L: Quote, Profile, Research) have tracked the legislation.
Senate Majority Leader Bill Frist, a Tennessee Republican and potential 2008 presidential candidate, recently appeared at a hearing in Iowa — the state that holds the first presidential nominating contest for the 2008 election — to listen to concerns about Internet gambling. (Additional reporting by Jeremy Pelofsky)
This is where I keep getting confused. The text says that it “would make it illegal for banks and credit card companies to make payments to online gambling sites.“
Okay. So?
As far as I can tell, NETeller and similar electronic wallets aren’t affected by this law. Then WHY does the article also say “Most forms of Internet gambling would be banned under a bill that received final U.S. congressional approval early Saturday.”
??????? WHAT ???????
Clamping down on banks and credit card companies (for a second time, I might add) equals banning online gambling?? Did I miss something here? How the f*** do they come to that conclusion?
Sorry, but this just doesn’t make any sense. Can we please get a non-idiot to write an article that explains exactly what happened tonight?
Engineer wrote:Sorry, but this just doesn’t make any sense. Can we please get a non-idiot to write an article that explains exactly what happened tonight?
I second that request, it doesn’t make much sense.The bill, a compromise between earlier versions passed by the two chambers, would make it illegal for banks and credit card companies to make payments to online gambling sites.
This is the best thing that could happen to us. We should acctually celebrate!!!!:shots:
1. The gambling bill is finally out of the way
2. All it says is – making it illegal for the banks to send payments to gambling websites, but not that online gambling is illegal.
For over 2 years now I have not been able to deposit money from my credit cards to a casino website – the transactions have always been declined and I receive a call the next day from my bank(s) – so nothing new here.
It will be impossible for the banks to try and stop the midle-man (such as Neteller) as there are poker rooms where you can use your credit card by buying phone cards! Go try and stop that
And the keyword is “send payments” not receive payments – I think my commission in Neteller is safe
So everybody – keep the Vodka out of the fridge – I am going to party and Monday – work as usual!
I think Neteller and other services can be affected.
Sec 801.5362. Definitions
3. DESIGNATED PAYMENT SYSTEM. The ‘designated payment system’ means any system utilized by a financial transaction provider that the Secretary and the Board of Govenors of the Federal Reserve System, in consultation with the Attorney General, jointly determine, by regulation or order, could be utilized with or to facilitate, any restricted transation.This could certainly ban electronic wallet transactions with certain vendors or outside the US, it sounds like to me. Definition 4 details what “financial transaction provider” is they identify “stored value system”, “money transmitting service”, and “designated payment system”
So, western union, neteller, etc could all be affected, as could the
“operator of a terminal at which an electronic fund transfer may be initiated.
That sounds like tellers and guys who have western union at the liquor store, are all included in this law.
The good news is there is 9 months before it starts and it may be a difficult task to stop everything right off. Best of all, nothing that directly affects the advertising model that we work under.
You should really read that report in the link I placed in the earlier post. It starts with the US laws, then talks about the banks, creditcard processors and then the third party processors like Paypal and NETeller.
Pretty interesting.
It will be interesting to see what my lawyers say when I talk to them next week, as well as the input of the lawyers that contribute here.
From first glance it is not nearly as bad as it could have been. No ISP blocking, no amendment to the wire act itself, and depending on interpretation of the 1934 act that defines interactive computer services we are probably not considered to be in the business of betting as affiliates.
2. All it says is – making it illegal for the banks to send payments to gambling websites, but not that online gambling is illegal.
Online gambling has always been illegal (since the Wire Act of 1961 that is).
The wire act prohibits gambling businesses from knowingly sending or receiving certain bets or information over interstate and international wires. It is just that certain courts interpreted portions of it differently which allowed for loopholes.Quick question, does anyone know if this new Bill covers ‘skill gaming’ (such as Backgammon) as well as ‘traditional’ gambling (such as casinos and poker rooms). Just curious if there has been a definition anywhere.
Most forms of Internet gambling would be banned under a tentative agreement reached on Friday by U.S. congressional negotiators.
Pending a review by other lawmakers, the measure could be brought up within hours for passage by the House of Representatives and Senate and then forwarded to President George W. Bush to sign into law.
The measure would be attached to an unrelated measure to bolster port security. [ Reuters – U.S. Internet gambling bill gets last minute push ]
damn these Republicans. they can’t pass Internet Gambling Bill via normal routes – they go the backdoor way – such low lives, no class – why the American people allow these hooligans to legislate how they spend their money and what they do with their money – man – this is scary – the Republicans are not only conservative but also fanatical – tacking everything they don’t like into terrorism. dang.
that’s so easy.
Correct me if I’m wrong – but Neteller isn’t based in the US is it? Therefore they would still be able to accept payments ?
yes Neteller is not based in the US, but if the BOS & SPBT indictments are any indication – it doesn’t matter where a company is based for it to be targeted for prosecution. Neteller has a huge US customer base and uses the American ACH as a backbone of its business. It may be the first one to be affected by this law.
I don’t think you can particularly blame certain parties and interests who, for whatever reason, are against online gambling – that’s their perogative. What you can blame is a fucked up system that unbelievably allows completely unrelated legislation to be added to a bill that is guaranteed to pass, at the last second.
I’m not in the US so I admit I know nothing about these procedures but from where I’m standing it looks an insane way to run a government. It’s that loophole, that method of passing bills, which is the culprit, not the individuals or parties who want online gambling banned. It is grotesquely undemocratic.
Than God I have mostly non-US players.
Good luck everyone.
Playing Devil’s Advocate, I see this cut-down legislation has a good side actually.
1. It stops well short of making online gambling illegal. 2. It will probably also annoy banks and the suchlike which again isn’t a bad thing for us. 3. Moreover, with so many offshore Prepaid options springing up, it means that a) Americans can continue to have a choice and b) it should help to stop too many people falling into debt over gambling.
Clearly the whole bill was political posturing ahead of elections, but the bit that’s passed is not that bad, maybe even good IMO.
The whole irony for the politicians and American coffers of course is that not only will they continue to see US money go to offshore gambling companies (which lets face it, is what the whole HR-4411 thing is about anyway), but now they will see money going to offshore prepaid card service providers too.
