Online gambling to be attached to defense bill???- article Uh oh!!!

WSEX GM · #1 09-13-2006, 09:19 PM

http://www.msnbc.msn.com/id/14824615/

Zele · #2 09-13-2006, 09:36 PM

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Senate Majority Leader Bill Frist is trying use a bill authorizing U.S. military operations, including in Iraq and Afghanistan, to prohibit people from using credit cards to settle Internet gambling debts.

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If this is the extent of what is planned, we're in pretty good shape.

Jussurreal · #3 09-13-2006, 09:41 PM

I've never been able to use a credit card on any gambling site anyway.

Zele · #4 09-13-2006, 09:42 PM

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I've never been able to use a credit card on any gambling site anyway.

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Shhhhhhhhh

StellarWind · #5 09-14-2006, 04:05 AM

The reason we don't know the exact language is there probably isn't any yet. They are still negotiating.

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I've never been able to use a credit card on any gambling site anyway.

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Suppose you ask a lawyer whether Neteller is a credit card. Are you certain what his answer would be? These online services resemble credit cards in many respects and could easily be swept into the new law.

Jussurreal · #6 09-14-2006, 06:04 AM

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The reason we don't know the exact language is there probably isn't any yet. They are still negotiating.

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I've never been able to use a credit card on any gambling site anyway.

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Suppose you ask a lawyer whether Neteller is a credit card. Are you certain what his answer would be? These online services resemble credit cards in many respects and could easily be swept into the new law.

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Neteller is not in any way a credit card. A credit card represents a bank willing to give you line of credit. I use FirePay and assume that its about the same as Neteller. FirePay requires the funds to be in your account first before you use it to fund a poker account. Thats not giving credit.

But I reckon Neteller and FirePay could be added into the new bill regardless.

StellarWind · #7 09-14-2006, 06:13 PM

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Neteller is not in any way a credit card. A credit card represents a bank willing to give you line of credit. I use FirePay and assume that its about the same as Neteller. FirePay requires the funds to be in your account first before you use it to fund a poker account. Thats not giving credit.

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FirePay does extend credit and Neteller is the same unless I'm mistaken. They allow you to deposit at a poker site and begin playing even though there are no funds in your account. You pay the resulting debt by authorizing payment from your linked bank account. FirePay and Neteller then cross their fingers that there is actually money in this account and they will be paid. Sounds a lot like a credit card to me.

On the other hand, people with junk credit ratings have long been able to get normal credit cards from banks that require predeposit of 100% of the credit line as security. These banks are paying the merchant directly from funds on deposit.

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But I reckon Neteller and FirePay could be added into the new bill regardless.

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Quite right. A credit card is whatever the new law says it is. Strictly speaking I suppose it is conceivable that the law could not include Visa/Mastercard debit cards (again what is a credit card!?). In a fantasy best case scenario this could have the paradoxical effect of convincing some banks it is safe to start allowing debit card online gambling transactions. The major banks stopped allowing credit cards to be used primarily because the government intimidated them and not because there was any clear law barring it.

WSEX GM · #8 09-13-2006, 09:48 PM

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Senate Majority Leader Bill Frist is trying use a bill authorizing U.S. military operations, including in Iraq and Afghanistan, to prohibit people from using credit cards to settle Internet gambling debts.

[/ QUOTE ]

If this is the extent of what is planned, we're in pretty good shape.

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No, that's what the media is regurgitating. I am sure it is the part of the bill that refers to all financial transactions etc. that he plans on trying to push through.

Zele · #9 09-13-2006, 09:51 PM

Do you have information other than what is in this article, or are you making an educated guess?

mrhat187 · #10 09-13-2006, 09:57 PM

I too would be interested in what is being put in the defense bill, could be no big deal, could be disaster we don't really have enough information. As I stated in a thread a while back they may try to achieve a feel good bill where they ban what CC companies have already done but just make it "legal". But nothing would change, I guess we will see.