Online gambling law in the US explained.Over the past few months there has been a lot of hype about the new law passed and many rumors about what it does and does not do.One of the most important misconceptions is the fact that the new law does not make online gambling any more illegal than it was before.It’s all in the name.”Unlawful Internet Gambling Enforcement Act”., the actual name of the act is the rather cryptic, “Security and Accountability For Every Port Act of 2006″.The Unlawful Internet Gambling Enforcement section itself starts on page 213, (the act itself can be found on the congress website)As the name suggests its primary objective is the enforcement of the current internet gambling laws.The law makers, (congress), have made it an offence for financial institutions to receive money from sites that are breaking US laws, (on internet gambling).The bill only applies to the mechanism of funding any Internet gaming which has already been deemed to be illegal. Let me clarify that last point, all the act does is enforce the current legislation by telling financial institutions that they are responsible if the money they handle comes from a site that broke US laws in the first place.So what is the Definition of Unlawful Internet Gambling?Section 5362(6) defines unlawful Internet gambling to mean, placing or receiving a bet “where such bet or wager is unlawful under any applicable Federal or State law.”, if it was not illegal before, it still isn’t.The main problem is that internet gambling is illegal, (to a various degree) in 11 states, so now the banks have to make sure that they don’t pay sites that accepted this illegal money.Sports-betting was made illegal way back in 1961 by the Wire Act, but internet gambling is not.Where on earth.Another major drawback of the law is the jurisdiction, the US congress doesn’t have jurisdiction to make rules for a company that resides offshore.Nor does the US have subpoena power to command an offshore company to turn over records. So how can they tell where the money comes from?And more importantly how can the financial institutions know if the money comes from an illegal activity, (in the US), or not.That last point explains the hysteria by some financial institutions, they assume that if they cannot tell where the money comes from, (for various reason), then they might be charged with some crime at a later stage.
Sports are particularly targeted by the gambling industry and bookies who make a fortune from outcomes. This has become such a problem that many can no longer tune into what used to be a nice experience. Anyone with a gambling problem has to curb their interest if they want to escape the temptations and players have also been caught rigging games in order to win a stake.Tennis is something that most people enjoy and tournaments in their own country are great to watch. In Australia, however, constantly throughout matches there are betting suggestions flashed onto the screen. The current value of each player in the stakes draws people in. Many want to show how clever they are in picking winners and so they put their money where their mouth is.Children are also observed taking bets from each other in school playgrounds during their own matches. The question is where does it stop. With easy access to online gambling the problem has snowballed.Already we have many who are living on the streets because they lost their home, family, and jobs because of gambling. Others are under the care of psychiatrists and doctors to try to get away from the problem. That means they must not watch any event where the bookies are advertising if they want to heal themselves of the addiction.While this is a free country and everyone has the right to advertise surely common sense has to be shown on the part of governments who allow this situation to continue. For people like me the interest in sports that used to be there has gone. While sporting teams are looking for public support and donations their interests are not being served by the gambling trap that surrounds their professions.