Without a clear and decisive law, which does not conflict with cyberspace jurisdiction as well as
world trade policies, such transactions continue to go on unabated.Until there is legal clarity, however,
the online gambling industry will continue to trump any perceived notion of criminality. and Fidelity
Investments are willing to risk the vagueness of the law in order to make investments
on behalf of their clients by way of stocks and mutual funds. MasterCard International et.
The WTO ruled that the U.S. brokerage firms to claim their piece of the pie.
Whether the law now applies to communication between a home computer and an establishment or
casino not located in the U.S. federal law, such as those manufacturers utilizing sweatshops and
child labor or by outsourcing business to countries which do business with other countries sanctioned
by the U.S. From U.S. shores. residents are presently not held accountable for breaking federal
law in the absence of such precedent. In 1995 we saw the emergence of internet
casino gambling, which includes playing games of chance such as poker, blackjack, and roulette as
well as betting on sports events. transaction and whether or not it can be reasonably
policed beyond U.S. Congress. administrations. and MBNA America Bank, N.A., that process credit card transactions
online. In addition to the Wire Act, the Professional and Amateur Sports Protection Act was
enacted in 1992, which banned all wagering on sports events in all states except those
with pre-existing operations in the states of Nevada, Oregon and Delaware. Department of Justice as
well as in the halls of the U.S. al., the court affirmed a lower court
ruling that according to federal statutes sports betting conducted over the internet is illegal, but
casino games are legal. And while we hear of more and more minor children and
young adults using credit cards to participate in online gaming, according to experts, more Zapatillas Puma research
and education needs to be done in order to warn children and their parents about
irresponsible gambling.But with respect to those who choose not to gamble, the issue of brokerage
houses maintaining mutual funds, unbeknownst to their clients, by investing in offshore betting by way
of the internet, will perhaps present unanticipated complaints, once consumers become more aware of how
their life savings are being invested. The main dispute is that the Wire Act was
intended exclusively for placing bets on the phone to bookmakers for sports events, and was
largely put in place by then Attorney General, Robert F. However, other states must set
up their own mechanisms in preventing such gambling.While the societal impact of gambling has been
debated endlessly for decades, from mental health issues to risk of bankruptcy, the evils of
gambling will continue to prey upon those most vulnerable. She also writes regular columns on
Major League Baseball where she is a featured online columnist with The Diamond Angle Baseball
Ezine and Sports-Central.org. corporations would rather wager that most will not care about their cashing
in, either.Diane M. By the year 2000, nearly 300 companies around the world operated almost
2,000 internet gambling websites. But Elliott Spitzer, New York State Attorney General, through his Internet
Bureau Office lodged an investigation against national banking institutions based out of New York such
as Citibank, N.A., Bank of America, N.A., JP Morgan Chase & Co. They as well
as Visa and MasterCard agreed to voluntarily block transactions to online gambling sites with respect
to the laws of the state of New York. government. government was in violation of
commercial services accords, and that the U.S. But since internet gaming sites are primarily offshore,
U.S. However, the repercussions of online gambling are too new for them to be realized
as yet on a grand scale. By providing financing for offshore casinos the 925 silver question remains
whether they are skirting the law as well as whether they are making reliable investments
for their clients, for whom most have no idea that their mutual funds are involved
in such ventures.It is now commonplace for American firms to invest in overseas corporations, even
those which may be considered illegal under U.S. As such, since the Wire Act was
specifically enacted to prevent sports betting, it would seem that the court got it right,
with the gambling industry arguing that banning online gaming would require additional legislation.And in 2004
the World Trade Organization got their say when the Caribbean Island nation of Antigua sued
the U.S. That was followed by both President Clinton's administration as well as the present
President Bush's administration both of which conveyed that the Wire Act applied to all forms
of internet gambling and therefore illegal under existing law.Yet the U.S. Whether you agree with
her or not, Diane M. Grassi is a freelance columnist, reporting and writing commentary on
current events of the day providing honest and often politically incorrect assessments. In Thompson v.
could be subject to trade sanctions. Grassi will have you coming back to note her
opinions, and if at best she wakes you up, then her goal will have been
accomplished.Ms. Court of Appeals for the Fifth Circuit in 2002 interpreted the Wire Act in
another way. would rather gamble itself, in doing nothing about it, rather than protect its
consumers and those most susceptible to its ills. qualifies as an illegal U.S. Ms. Kennedy,
in order to discourage organized crime and bookmaking. However, individual states may mandate such practices
illegal, going after banking institutions to prevent such transactions, for example, but individuals have not
been prosecuted.The prevalence of online gaming and the large revenues enjoyed from it has however
prompted major U.S. As such, Americans should have the choice of investing in a product
which has been deemed illegal by several U.S. Grassi is featured with the online publications:
New Media Journal.us; American Chronicle; Mich News.com; the Federal Observer; Opinions Editorials; the Conservative
Voice; the Las Vegas Penny Press; the Sierra Times as well as many others. government
and U.S. actions to prohibit online gaming. Rather than owning up to their responsibilities to
protect the interests of the American people and thereby U.S. consumers, both the U.S. public
policy to Major League Baseball, she is an eclectic thinker, and demanding of her readers
to reflect on their own thinking patterns from an alternative perspective. However, the issue of
online gaming is perhaps just the latest industry in worldwide commerce in which laws and
customs have not yet caught up to it, given the sophistication of the technology involved.The
argument is whether someone who generates a gambling transaction from their living room to a
country outside of the U.S. government in 2003 in an effort to block U.S. And
since 2005 saw no new legislation proposed by either the House of Representatives or the
Senate to restrict online gaming, it appears that the U.S. At stake is whether or
not the Department of Justice will apply the Wire Act of 1961 in enforcing the
law and how long it will be before the Congress can agree on passing new
legislation which will help strengthen the Wire Act. And in 2005, worldwide online gambling revenue
is expected to be over $US10 billion for such operators while a total of $US
200 billion is expected to have been wagered.Widely an issue of intense debate since its
inception, the criminality of online gambling has been argued at the U.S. still remains a
gray area.But in the era of industrial globalization, it appears that firms such as Goldman
Sachs & Co., Merrill Lynch & Co. Grassi may contacted at: dgrassi@cox.net.
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