The 2+2 Forum Archives: A very good breakdown of the bill

Terms & Conditions

Internet Magazine

Non–US new players
Get five 2+2 books

Order Books
Book Translations
Forum Login

Expand All Collapse All

Two Plus Two

General Poker Discussion

Coaching/Training

German Forums

French Forums

Limit Texas Hold'em

PL/NL Texas Hold'em

Tournament Poker

Other Poker

General Gambling

Internet Gambling

2+2 Communities

Other Topics

Sponsored Support Forums

Other Links
Books
Authors
Abbreviations
Calendar
Order Books
Books by Others
Favorite Links
Feedback
Advertising Information
Home
Posting Hints
Privacy Notice

The 2+2 Forums

Before using this Forum, please refer to the Terms and Conditions (Last modified: 2/26/2006)

Be sure to read the Two Plus Two Internet Magazine

This is an archive. The main forums are here

These forums are read only.

UBB.threads™

Groupee, Inc.

You are not logged in. [Login]

Main Index · Search · Classified Ads
New user · Who's Online · FAQ · Calendar

General Poker Discussion >> Poker Legislation

Russ Fox
tax practitioner

Reged: 06/03/04
Posts: 211

Re: A very good breakdown of the bill
09/30/06 01:28 PM

I read this bill last night and came out with more or less the same view. I also noticed,

(1) I wouldn't want to be a US citizen in the employ of an online site. Sect. 5363 makes it illegal to accept wagers from US citizens; these individuals have just become criminals. This is likely a major issue for executives at these sites who are Americans. Also, I doubt anyone who is a manager (or above) at an online site will be changing planes at JFK or DFW anytime soon....

(2) While regulations might be issued within the 270 day period allotted, this may take longer. In the world of tax (which I deal with), there are parts of the Tax Code which Congress told the IRS to issue regulations on that years after the deadline have either no regulations or temporary regulations. Also, there's an escape clause in Section 5364(b)(3) that allows or the Fed, Secretary of the Treasury, and the Attorney General to exempt transactions (or types of transactions) where it's too difficult/expensive ("not practical") to block.

(3) Expect a major impact at next year's WSOP. There's no way that Harrah's will allow the sites to buy-in directly for players. The sites, if they offer satellites, will have to either put the winnings in players accounts or send an exec to Las Vegas to hand the cash to players who will then buy in to the WSOP. Also, Harrah's will never allow the .net hospitality booths.

I re-read the legislation and don't find anything that directly impacts the Wire Act. However, if the courts now interpret that given that Congress wants all online gambling to be illegal (that's more or less what the preamble to this legislation states), now the Wire Act covers online poker, there's a huge issue.

Additionally, it is questionable whether sites will continue to accept US players, as Mr. K pointed out. Time will tell on all of these issues.

-- Russ Fox

Post Extras

Print Post

Remind Me!

Notify Moderator

Entire topic
Subject	Posted by	Posted on
A very good breakdown of the bill	Jay Cohen	09/30/06 11:19 AM
Re: A very good breakdown of the bill	erastank	09/30/06 07:58 PM
Re: A very good breakdown of the bill	scorer	09/30/06 08:21 PM
Re: A very good breakdown of the bill	LegallyBlind	09/30/06 08:45 PM
Re: A very good breakdown of the bill	MiltonFriedman	09/30/06 05:12 PM
Re: A very good breakdown of the bill	AAAA	09/30/06 06:05 PM
Re: A very good breakdown of the bill	4 High	09/30/06 06:09 PM
Re: A very good breakdown of the bill	mlagoo	09/30/06 06:33 PM
Re: A very good breakdown of the bill	Kevmath	09/30/06 07:06 PM
Re: A very good breakdown of the bill	DVaut1	09/30/06 07:25 PM
Re: A very good breakdown of the bill	Ron Burgundy	09/30/06 07:29 PM
Re: A very good breakdown of the bill	OHFreak	09/30/06 06:45 PM
Re: A very good breakdown of the bill	4 High	09/30/06 06:43 PM
Re: A very good breakdown of the bill	Leader	09/30/06 07:54 PM
Re: A very good breakdown of the bill	Sniper	09/30/06 02:37 PM
Re: A very good breakdown of the bill	Russ Fox	09/30/06 01:28 PM
Re: A very good breakdown of the bill	DeNutza	09/30/06 02:05 PM
Re: A very good breakdown of the bill	Russ Fox	09/30/06 02:19 PM
Re: A very good breakdown of the bill	HSB	09/30/06 02:45 PM
Re: A very good breakdown of the bill	mlagoo	09/30/06 02:46 PM
Re: A very good breakdown of the bill	Utah	09/30/06 04:13 PM
Re: A very good breakdown of the bill	Jack Bando	09/30/06 04:08 PM
Re: A very good breakdown of the bill	RacersEdge	09/30/06 01:17 PM
Re: A very good breakdown of the bill	Fishy McDonk	09/30/06 01:26 PM
Re: A very good breakdown of the bill	Albert Moulton	09/30/06 12:05 PM
Re: A very good breakdown of the bill	mpslg	09/30/06 11:56 AM
Re: A very good breakdown of the bill	BillJames	09/30/06 12:09 PM
Re: A very good breakdown of the bill	mpslg	09/30/06 12:11 PM
Re: A very good breakdown of the bill	kleath	09/30/06 12:33 PM
Re: A very good breakdown of the bill	BluffTHIS!	09/30/06 12:35 PM
Re: A very good breakdown of the bill	MannyIsGod	09/30/06 12:02 PM
Re: A very good breakdown of the bill	BluffTHIS!	09/30/06 12:01 PM
Re: A very good breakdown of the bill	mpslg	09/30/06 12:07 PM
Re: A very good breakdown of the bill	BluffTHIS!	09/30/06 12:11 PM
Re: A very good breakdown of the bill	DrPhysic	09/30/06 02:37 PM
Re: A very good breakdown of the bill	Benjamin	09/30/06 04:43 PM
Re: A very good breakdown of the bill	excession	09/30/06 11:41 AM
Re: A very good breakdown of the bill	fsuplayer	09/30/06 11:22 AM
Re: A very good breakdown of the bill	JPFisher55	09/30/06 11:39 AM
Re: A very good breakdown of the bill	DrPhysic	09/30/06 02:41 PM
Re: A very good breakdown of the bill	Analyst	09/30/06 12:03 PM
Re: A very good breakdown of the bill	Copernicus	09/30/06 12:06 PM
Re: A very good breakdown of the bill	Josh.	09/30/06 12:42 PM
Re: A very good breakdown of the bill	Kneel B4 Zod	09/30/06 04:35 PM
Re: A very good breakdown of the bill	Copernicus	09/30/06 04:50 PM
Re: A very good breakdown of the bill	THEOSU	09/30/06 05:20 PM
Re: A very good breakdown of the bill	daedalus	09/30/06 05:54 PM
Re: A very good breakdown of the bill	mlagoo	09/30/06 05:29 PM
Re: A very good breakdown of the bill	LearnedfromTV	09/30/06 12:59 PM
Re: A very good breakdown of the bill	bcubed72	09/30/06 02:47 PM
Re: A very good breakdown of the bill	StellarWind	09/30/06 03:19 PM
Re: A very good breakdown of the bill	coachkf	09/30/06 04:09 PM
Re: A very good breakdown of the bill	carlo	09/30/06 05:30 PM
Re: A very good breakdown of the bill	kleath	09/30/06 06:04 PM
Re: A very good breakdown of the bill	Gregg777	09/30/06 05:31 PM
Re: A very good breakdown of the bill	Exitonly	09/30/06 06:47 PM
Re: A very good breakdown of the bill	donger	09/30/06 03:44 PM
Re: A very good breakdown of the bill	DWarrior	09/30/06 04:48 PM
Re: A very good breakdown of the bill	HSB	09/30/06 05:06 PM
Re: A very good breakdown of the bill	Gregg777	09/30/06 03:36 PM
Re: A very good breakdown of the bill	MicroBob	09/30/06 03:41 PM
Re: A very good breakdown of the bill	Pudge714	09/30/06 01:04 PM
Re: A very good breakdown of the bill	JOHNY CA$H	09/30/06 02:23 PM
Re: A very good breakdown of the bill	whangarei	09/30/06 01:49 PM
Re: A very good breakdown of the bill	wolson	09/30/06 02:27 PM
Re: A very good breakdown of the bill	MicroBob	09/30/06 01:13 PM
Re: A very good breakdown of the bill	StevieG	09/30/06 01:34 PM
Re: A very good breakdown of the bill	cking	09/30/06 01:18 PM
Re: A very good breakdown of the bill	gumpzilla	09/30/06 01:08 PM
Re: A very good breakdown of the bill	JOHNY CA$H	09/30/06 02:26 PM
Re: A very good breakdown of the bill	Copernicus	09/30/06 12:47 PM
Are players at risk?	reddog12	09/30/06 01:58 PM
Re: Are players at risk?	Fishy McDonk	09/30/06 02:20 PM
Re: Are players at risk?	La Brujita	09/30/06 02:14 PM
Re: Are players at risk?	wolson	09/30/06 02:18 PM
Re: Are players at risk?	MicroBob	09/30/06 02:12 PM
A silver lining	CORed	09/30/06 03:17 PM

Extra information

0 registered and 2 anonymous users are browsing this forum.

Moderator: Berge20, Ryan Beal, Performify, 4_2_it, Mike Haven

Forum Permissions
      You cannot start new topics
      You cannot reply to topics
      HTML is disabled
      UBBCode is enabled

Rating:
Thread views: 21267

Jump to

Powered by UBB.threads™ 6.5.5

Message Boards and Forums Directory

Pages provided by ConJelCo