Woody0 said:
I understand the courts have interpreted the phrase "business of betting" to mean bookies. An individual who lack clients can hardly be said to be running a business.
royalfan: My question was rhetorical and the above was brought up since Calvin failed to mention the most important aspect of that part of the UIGEA.
Yeah. I did get puzzled when I read that part... so that's why I had worded to say "seem to have clarification..." because I wasn't quite sure if the language did refer to the bookies only. The definition of that phrase in Page 219 did not clarify a thing.
But yes, I did read somewhere (else, apparently) where "business of betting" was explicity defined as an entity that accepts financial transactions. Now I think about it, I may have read it in one of those state laws that someone here posted (Louisiana, I believe).
Thanks, Woody0, for the FYI.
* CalvinTy