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Article: Internet Gambling Congressional Hearing Recap

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  1. Dan Dan is online now Administrator

    Posts: 5,245
    Joined: May 06

    Apr 2nd, 2008 (4/2/2008 3:16pm)

     
  2. Johny PoKer Johny PoKer is offline

    Alexandria, VA
    United States

    Posts: 159
    Joined: Feb 08

    Apr 2nd, 2008 (4/2/2008 5:02pm) in reply to Dan

    <p>It seems they are realizing that they have made it impossible for the banks to implement this unwise piece of legislation.  However, do we really want any intervention by the US government, who seems to screw up and tax everything they come near. Seems like the major poker sites are doing a fine job, with a few notable exceptions of sites I will not name that should just be avoided.  Superuser comes to mind.</p>
  3. WEC WEC is offline helps keep track of scammers in the Transfer Thread

    Tucson, AZ
    United States

    Posts: 1,129
    Joined: Apr 05

    Apr 2nd, 2008 (4/2/2008 6:45pm) in reply to Dan

    <p>A big Thank You to Dan for watching and reporting on this important hearing.  I encourage all to keep up the pressure by writing your Congressmen and Senators and participating in the Poker Players Alliance.</p>
  4. Hawkhill7 Hawkhill7 is offline

    Schwenksville, PA
    United States

    Posts: 1,718
    Joined: Mar 05

    Apr 2nd, 2008 (4/2/2008 8:53pm) in reply to Dan

    <p>Dan,</p>
    <p>Great update.  The timing of these hearings probably couldn't be better considering the current state of the US financial services industry.  It is unrealistic to expect our financial services firms to police cush transactions and I expect that many congressmen/woman are realizing that and are more likely to change their stance.  </p>
    <p>As someone who pays taxes in the rare occasion that I actually win, I think regulation of the online poker world would be a huge win and would reinvigorate the online poker world.  I have a dream of a world where fish can continuously load accounts with dead money!  </p>
     
  5. BCEagleAce BCEagleAce is offline

    Fitchburg, MA
    United States

    Posts: 14
    Joined: Mar 08

    Apr 4th, 2008 (4/4/2008 11:54am) in reply to Dan

    <p>Kudos to Congressman Frank and other legislative supporters of this Bill!  I'm glad that big banks are also now supporting this new bill as they obviously have a powerful lobby and voice to put behind this.</p>
    <p>As for Johny PoKer's comments, I disagree.  While I agree that in a perfect world the Fed would not be involved at all in Internet gaming issues, this is not a perfect world and the current legislation is a barrier to online poker, as well precedent to further preclude online poker in the US.  Frank's legislation looks to overturn this completely and legalize it - a huge benefit for online players.</p>
    <p>In addition, even under the current system you should be paying your taxes on online gaming wins.  If you aren't you are setting yourself up for trouble with the IRS.  The overall gaming community will benefit from the regulations and standards put on the gaming sites specifically.  Frank's bill calls for pretty strict regulatory standards aimed to ensure that gaming is fair for all players.  Personally, I think that the biggest flaw in online poker right now is the basic lack of any type of oversight or regulatory enforcement by a third party.  US Fed oversight will give a lot of protections to include: secure storage of personal information, top notch encryption on financial transactions, eliminating under aged players, and most of all - making sure the odds are fair and everybody has a level playing surface.</p>
    <p>I support this bill in full and I'm really excited it is getting traction</p>
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