LEGALIZING AND REGULATING by Wild Bill

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http://www.therx.com/nm/templates/article.asp?articleid=2990&zoneid=2

Excellent article. Just wanted to add that the UK White paper on gaming reform considers that the location of the server defines the jurisdiction where the wager is placed.

Obviously the US disagrees leading to a potential conflict. As a UK citizen I will feel free to place online wagers in the UK from within the US, and depend upon Her Majesty's Government to provide all necessary protection from malicious prosecution.
 

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Since Bush loves Blair so much maybe he will follow suite in a few years and regulate
 

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That's the BEST article which I've read by Wild Bill.

One can only wonder, if the UK can stand Soldier to Soldier beside the US, as one of the very FEW did in Iraq. Just how the US can say no to it's No.1 Ally!

I hope our great Nation does not take it's typical arrogant stance against them HERE!
 

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The General said:
How long will it be before we (America) approach Regulation?
I have no idea how long. But there are amoung the Rx readers plenty of voices of it will never happen. I think so very many factors come into play here. No1 being the hard-core base of the Republican Party (Church People against).N0.2 the holyier Major leagues (Baseball--NFL--and NBA) living in the real world.N0o3. How the WTO thing plays out and No.4 An organized an on-going "campaign" to push for it's legalization by some lobbyist.
 

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Once the things mentioned in the article come to pass(and i further foresee some of those stronger casino companies acquiring a few of the present Caribbean ones), I will be looking to establishing some off-shore banking and credit-- to facilitate movement.

I think that some form of bonuses & reduced juice will still be around, due to increased competition-- anyhow, if pro punters can make a living presently in Europe, Australia & elswhere......

I will enjoy the govenment-guaranteed safety of my funds, as well as the superior customer service-- & knowing that at anytime i can take a beef to Arbritation / Regulatory Boards & receive prompt relief, & even better yet-- knowing that such an action will likely never be necessary.

Eventually, our US government will be dragged along-- kicking and screaming...
 

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Excellent article. Good to see that TheRX is going global. A note on the US and regulating.

between the ABA(American Banking Association) WU, Money Gram(First Data that is also American Express), The Credit/Debit Card Companies. The Lobby to not have the USA regulate is huge and at a very high level internationally.

Logic is --- Would you rather take a few points on every dollar that moves and have those funds outside the USA, or have to report all of it as gaming to the USA and have it taxed accordingly. Until the USA tips its' hand on the level of taxation for internationally owned Online gaming sites owned and operated by Americans, no one is going to nudge them. The Types of entities listed above make allot of money on gaming and are more than happy to see the usa not regulate it. As well the companies are very eager to see foreign jurisdiction have strong legalization of the online gaming internationally.

IMHO

Canuck

side note, there has always been the arguement that if the federal govt of the USA moves on it , then the feds have to cut a deal on taxation with the state that the player is reporting income/loss from. And others forms of internet commerce done over the internet internationally(stocks, FX, etc)
 

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Excellent points all, glad to see we have some people educated on the topic. Just remember my warnings about US regulation of gambling. The UK's rate of 15% is going to be tough on operators for offering sports, but since most depend on soccer and horse racing for most of their betting activity they can take it for now. Those sports have mostly a tradition of terrible odds for the player compared to North American sports. The low margin of even 11 to 10, let alone -107 or -105 pricing, will be tough to work with at 15% taxes.

As to US states or even federal regulation? That will kill sports betting, the taxes will be at least 20%, maybe more. Casinos online and even poker can handle taxes like that, they are purely system development costs upfront and little else after that other than advertising and maintenance. Other games don't have the cost structure of sports, nor the built in opposition of the sports themselves. I think it will be a long-time in coming to see a workable model of regulation done in the US that will allow a sports business anything like what we see today survive. Ask any operator that posts here if they could make any profit if they had to pay out 25% of just their net win on bets, before they take out their costs. The margins just don't pencil out to handle that sort of burden, but since so many states get away with it as it is I can't see a benevolent decision coming out of this.

I think though the UK, Malta, Latvia, and likely other EU countries will force the hand of the US here. The US can easily ignore Antigua or even a Panama winning a WTO case against them and just pay a fine or whatever, or just try to ignore it. The US hasn't been able to ignore EU judgements against them and any time the matter is between an EU member and a foreign country when it comes to trade, that invokes a coordinated EU response. The US will have to pay attention to that. My guess is the US probably will just begrudingly accept betting happening and maybe a few states set up their own regulated casino-only product. Horse racing will continue to grow. Sports will be left out of it. Hopefully we will be left alone to continue to bet offshore for sports, but it could be a tough road ahead and the fact that US legislators might take a look at regulating this isn't necessarily good for us.
 

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