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Originally Posted by L-Pink
Webby, is it safe to say the US gambling issue boiled down to ... Major banks lobbying for restrictions based on huge charge-backs?
Or am I off base?
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Mmmm.. don't think so L-Pink. The case against.. primarily Gary Kaplan, hate to say it, but appears it's not without foundation. He is a US citizen and has a previous record of gaming-related issues in the US (mainly New York and Florida). He was the founder of BOS and set up this corp from various jurisdictions while he was (and is still) a US citizen. That is basically illegal under US law, irrespective of where he may be operating - he is really contravening the Wire Act etc - tho a good defense may claim otherwise.
Suspect the US issue has more to do with containing US gambling - and keeping this "in-house" in Vegas and elsewhere. Think we can dump to excuses of the evils of gambling etc - doubt that is the main concern
The credit card issue is one of the items that provoked a WTO judgement a few years back. Basically the govt of Antigua, Canada and several other countries complained that the US was "inhibiting" the transfer of funds to other countries (specifically gaming regions) and that this was in violation of ratified treaties for open market trading. Since that judgement time (about 2 years back)... the WTO has given the US an opportunity to work out a deal with the complaining nations - and this negotiation crumbled about 4 months ago and the complainants terminated further meetings and requested enforcement by the WTO. WTO is currently reviewing what has happened up till now and due to report in 8 weeks.
The next stage is basically sanctions against the US - but chances are something will be worked out. Tho, only my
- it appears this is not going to be easy for the US DOJ since the claims are various domestic laws are "illegal" and think there is a bill currently being debated to make it illegal for card companies to pay on gaming debts? Who knows - but smells like a clash is on the way
There are no problems with the other card operators or with VISA in other banking regions eg - gambling is generally legal in the EU and card companies appear to be fine with that. (They prob have no choice else there would be action taken against them within the EU).