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Article: Internet Gaming Law Threatens Horse Racing Industry

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  1. TheEngineer TheEngineer is online now Rich Muny - PPA Board VP

    KY
    United States

    Posts: 2,830
    Joined: Nov 07

    Jun 28th, 2009 (6/28/2009 10:44pm)

    Hi all,

    Please check out my new article on UIGEA and its impact on the horse racing industry. It's an update of an op-ed that ran in the June 17, 2008 Cincinnati/KY Enquirer.

    Read/Digg: http://digg.com/d1v8hn
    Direct Digg: http://digg.com/other_sports/Interne...acing_Industry
    Click here to Twitter

    Thanks!

    Rich

    <hr>
    <h2>Internet Gaming Law Threatens Horse Racing Industry </h2> Rich Muny
    June 29, 2009

    When the Unlawful Internet Gambling Enforcement Act (UIGEA) passed in 2006, the horse racing industry was protected with a special exemption. However, it is now clear that this exemption will fail to protect the industry from the harmful effects of the Act.

    UIGEA requires blocking of “unlawful” Internet gaming by financial institutions. However, neither the Act nor its regulations define unlawful Internet gaming. No one seems to know what it unlawful and what is not. As a result, banks and credit card companies have been deputized not only to enforce this deeply flawed law, but also to define its scope. Unfortunately, the law penalizes banks severely if they err on the side of processing transactions later determined to be unlawful, while permitting them to block perfectly legal transactions. As a result, banks can be expected to err strongly on the side of caution.......
     
  2. Mookman5 Mookman5 is offline

    Columbus, OH
    United States

    Posts: 26
    Joined: Feb 08

    Jun 29th, 2009 (6/29/2009 8:43pm) in reply to TheEngineer

    Dugg and Twittered. Congrats on the front page thing at Digg. What does whitelisted mean again?

    Overall great article, keep up the good work!
  3. JPFisher55 JPFisher55 is offline

    Saint Louis, MO
    United States

    Posts: 28
    Joined: Dec 07

    Jun 29th, 2009 (6/29/2009 10:16pm) in reply to TheEngineer

    Excellent article TE. From now on I will be often visiting this forum and will place most of my posts here instead of you know where.
  4. Skallagrim Skallagrim is offline

    Portsmouth, NH
    United States

    Posts: 90
    Joined: May 07

    Jun 29th, 2009 (6/29/2009 10:43pm) in reply to TheEngineer

    It is rather ironic that a number of the "internet gambling is evil" crowd seem to think that betting on horse races (God's animals I guess) is somehow a different beast.

    Way to hit 'em where it hurts TE, nice article.

    Skallagrim
  5. TheEngineer TheEngineer is online now Rich Muny - PPA Board VP

    KY
    United States

    Posts: 2,830
    Joined: Nov 07

    Jun 29th, 2009 (6/29/2009 11:09pm) in reply to Mookman5

     
    Originally Posted by Mookman5 View Post

    Dugg and Twittered. Congrats on the front page thing at Digg. What does whitelisted mean again?

    Overall great article, keep up the good work!

    Thanks! I appreciate that.

    Digg reviews submissions from non-whitelisted sites prior to allowing them on the front page. Whitelisted sites like the NY Times, OTOH, go through without mod review.
     
    Thread Starter
  6. TheEngineer TheEngineer is online now Rich Muny - PPA Board VP

    KY
    United States

    Posts: 2,830
    Joined: Nov 07

    Jun 29th, 2009 (6/29/2009 11:11pm) in reply to JPFisher55

     
    Originally Posted by JPFisher55 View Post

    Excellent article TE. From now on I will be often visiting this forum and will place most of my posts here instead of you know where.

    Cool! We'll really benefit from your excellent posts.
     
    Thread Starter
  7. TheEngineer TheEngineer is online now Rich Muny - PPA Board VP

    KY
    United States

    Posts: 2,830
    Joined: Nov 07

    Jun 29th, 2009 (6/29/2009 11:20pm) in reply to Skallagrim

     
    Originally Posted by Skallagrim View Post

    It is rather ironic that a number of the "internet gambling is evil" crowd seem to think that betting on horse races (God's animals I guess) is somehow a different beast.

    Way to hit 'em where it hurts TE, nice article.

    Skallagrim

    Thanks for the compliment. As a Kentuckian, I do support the industry. Fortunately, it seems we have a shared desire to fix UIGEA and the Wire Act. Also, we can show pro-horse politicians that we're on the same side.
     
    Thread Starter
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