Discussion in 'Trading' started by Quah, Oct 13, 2006.
Does this mean I won't be able to trade online anymore?
On-Line trading will always be allowed...
Because the Government will get their Capital Gains TAXES from that... They are not going to shoot down any Horse Racing, Lotteries, or Land Based Casinos, because they are the "Casino's Silent Partner". (and you thought the MOB had control of this)
This was shot down because they could not find a way to tax the gamblers from On-Line gambling. They already get their cut on Land Based casinos, everytime you win and have to fill out the IRS forms...right off the TOP.
That's what it is all about...
Shhhhhh. Don't give them any ideas or they'll pass some new PDT law that says you need $50 million to trade.
Don't forget the power of a taking a lame moral stand against a victimless crime in an election year.
Around here there's been a lot of talk about it, since there's about 10k ppl whose jobs depend on the industry.
Several large books have been closing their doors every week.
I dont understand why a company like neteller cant still be used to make deposits to online gambling sites? If you ask neteller to withdrawal funds from your bank account what business is it of the govts to say were it cant go from there, and how does the us govt know were the money is going anyway.?
Guess a good thing will not never last.
Closed down my Neteller account a couple weeks ago when this bill started to pick up steam.
Going On-Line gave me the opportunity to do things I could NOT do at a local Casinos. Made a good second income off of Sports arbitrage betting in the past using several different books, but those days are over....Unless I move to Canada, or the Bahamas.
Hmmmm... Bahamas sound nice now....
no money in anymore...i logged on to paradise poker today and no funds will be allowed to go in from USA....u can play with money already in and you can withdraw...there are like 5 staes ( nevada included ) where u can even play with a funded account...acording to paradise...
Britain Attacks U.S. Online Gambling Ban
Friday October 27, 11:54 am ET
By Jane Wardell, AP Business Writer
Britain Criticizes U.S. Online Gaming Ban As It Prepares for International Summit
LONDON (AP) -- Britain's culture secretary on Friday compared the U.S. crackdown on online gambling to the failed alcohol ban of the Prohibition as she prepared to host an international summit on Internet gambling next week.
Tessa Jowell warned that the U.S. ban on Internet gambling would make unregulated offshore sites the "modern equivalent of speakeasies," illegal bars that opened in 1920s America when alcohol was banned.
Full Story: http://biz.yahoo.com/ap/061027/britain_online_gambling.html?.v=3
This issue has me fuming! Not that I play a lot of online poker, but I believe I have the right! What kinda freakin' socialist nation are we turning into???
About a year ago the the cops broke up a poker tournament (~50k) in the Detroit area and confiscated all the cash. Yet those damn Detroit casinos can operate at will!!!
Makes me want to burn a couch in my front yard in protest!
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