Democrat says expect online gambling bill Thursday

[ImsaKidd]

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I've already had a bunch of people call in to say that the bill is AWESOME.

As a player living outside the USA, I love it. I mean anyone who consistantly LOSES money doesn't give a crap about paying taxes. So the thousands of American fish that drop money on these sites are coming back to daddy !

I do feel for you winning players, I could totally see how this blows for you guys. My advice, get the hell out of dodge ! Come live in the free world ! We don't have guns, but we can do anything else. It rocks here !

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QFT

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HEY THANKS FOR THIS CONTENT RICH BUMP

[bitbytebit]

Just want to say you see it very clearly. I only hope people that do think this is a good thing realize pitfalls.

slippery slope? hell we're just about halfway down and accelerating.

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It is bad for several reasons. First of all, this is not a repeal of anything. It is an addendum to the UIGEA, not a repeal. It simply adds to it, and takes nothing away. That alone should be a red flag.

Second, it calls for US jurisdiction over anyone who wants to do business here. Think that is fair to the people in Antigua?

Third, it calls for all businesses to be licensed by a particular US govt entity. Think there won't be tons of graft there? Talk about limiting competition. Ever try to get a liquor license in NY city?

Fourth, it calls for taxation and fees for all who play. What kind of fees? I don't want to agree to handing over a blank check.

Fifth, it calls for all companies who are licensed to agree to turn over all the records that they have on all of their customers anytime the US gov't asks. I like my privacy.

Sixth, it gives us nothing. There are already protections in place to prevent underage gaming. Think the gov't will do better? There are already protections in place to prevent people from going off too much in one day. Think the gov't will do better? What does this bill give me? It gives me more gov't intrusion into my private life, limits competition, that in turn will increase the cost of doing business, and that will increase my cost to play. It is not as if I have no options now. I have plenty.

This is just a typical trick from a politician to try to gain more power over your life. Don't be fooled. It is never good for the hens to have more foxes guarding the house. The politicians will get rich off of this. A few casinos will make millions and we will all have to pay for it.
This is the gov't breaking your legs and then offering to give you crutches at a discount.
NOTHING is being repealed. The UIGEA stays in place. This is just an added bonus of more regulation.

This is an example of why the rich get richer and the poor get poorer. Money will go from our pockets into theirs. And if you have ever seen the tax laws regarding gambling you know how unfair those are. All wins are added to your gross income and if, and only if, you itemize your deductions can you deduct your losses. So the little guy who doesn't make that much, doesn't own a house and does better taking the standard deduction gets totally hosed. If he made 5k and lost 5k you would call that breaking even, the gov't calls it making 5k and you have to pay taxes on that. (Again, if you itemize you can offset). But don't take tax advice from me, I am not an accountant, please look it up yourself, I may be wrong.


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[mrjetguy]

this is so [censored] old