Gambling firms see shares plunge - credit card processing to be outlawed - porn next?
 

Shares of online gaming firms have plunged after the US Congress passed a bill cracking down on internet gambling, threatening their business.

Partygaming saw its shares fall by nearly 60%, while shares in 888 Holdings tumbled by more than 45%.

Both firms have said they could stop taking bets from US customers if the bill is signed into law by President George W Bush in the next two weeks.

The legislation is part of a clampdown on online gaming in the US.

The law would make it illegal for banks and credit card firms to process online gaming payments from the US.

UK betting giant William Hill recently said it was closing its US gaming business pending clarification of the industry's legal position.

Begs the question : could similar legislation be introduced for websites that are deemed to be obscene by the neocons?:321GFY

My gambling stocks have just lost thousands.

FUCK.

Almost halved their value overnight.

Swallowed most of the gains made this year.

Game over.

well, it is illegal in the majority of states to gamble ..so I don't know why people are suprised when they get in trouble for promoting gambling in the States

Yeah, these are the problems in the US. Gambling, fat people and gay marriage. Good that there are politicians taking care of these highly important problems. :upsidedow :1orglaugh :1orglaugh :1orglaugh

Yeah just saw it on the news, unbelievable.

Sky is falling again!!

The government wants a monopoly on all gaming. Many states have a keno network for bars etc. + all the state and multi-state lotteries.

Odds are better at any race track plus payouts are better per dollar spent. Same applies to most casinos. Just a matter of how much tax the government is taking.

Wanna gamble, move to Las Vegas I guess.

Can a law really stop all gaming online? Is there away around this. Say with a credit card registered in a different country???

I don't gamble at all online. Just sick of my governement telling me how to live. Then sticking fucking video cameras up all over the place. Pick your nose and they got it on a disk somewhere. Oh, that's a $25 fine

:thumbsup

Many governments do. Like is Germany. Gambling is permitted in the state owned casinos. However, online gaming and the promotion thereof is illegal.

won't make any difference.

dooooooooohhh what's next ?

Same in The Netherlands.

if this actually goes through and hopefully it wont :( the porn industry not now but later will be next!!! for a free country we still cant do alot of things!!:2 cents:

I dont think the porn industry will be attacked as badly, ie in one fell swoop. Porn doesnt have the casino lobby and various other people looking after their own interests to look out for (as much) like gambling does.

:1orglaugh :1orglaugh :1orglaugh :thumbsup

Yup! What has happened to the home of the brave and the land of the free? :Oh crap

I live in Vegas though.... Argghhh

Well said, I agree:thumbsup

Yeh, its fucked them up bad. Stock market value of the UK gaming companies is down $6.5 Billion already.

Ouch! :Oh crap

gambling online is illegal in the states. this is a well known fact that has not changed since the creation of the internet. anyone who got into it KNEW they were breaking the law, hence all the hiding in foreign countries.

porn is a completely differant subject.

you people never cease to amaze me.

no man or woman is free these days especialy in the states. too many chiefs not enough indians!

I hope that will change when democrats will return.

There's a big difference between processing for gambling and processing for porn, unless you consider signing up for a paysite a gamble. (it is.)

Porn will be next, in fact it's definite Bush will extend this to porn.

So I'm buying all your domains, get something back before the sky falls in. :1orglaugh

I thought this thread was about America???? :1orglaugh :1orglaugh

:1orglaugh :1orglaugh :1orglaugh

Please post link that that law ... :1orglaugh

BTW, if it is illegal, why would they piggybacxk this NEW law on the Port Security Bill ????

Do some research before answering ( hint: take a look at another thread here on this topic :2 cents: )

I could be wrong but I believe only 8 states have laws on the books regarding gambling over the internet.

It is however illegal to place a sports wager over the phone. Does that make betting on sports over the internet illegal?

Does that sound right?

Every state has gambling laws, it's illegal in every state to gamble outside of state regulated gambling. Then in a few states, it's fully illegal in every form. (Colorado, Indiana and Tennessee)

Quick google search "state gambling laws" does the trick.

i love the whole idea of piggybagging a new law on top of another totally unrelated law... who ever came up with that idea was a fucking wonder!

Smoking is next not porn!!

I'm from Sweden and our government is totally different. Instead
of cracking down on online gambling the government
started their own online gambling sites, including
online poker... :thumbsup

I will never understand why the US has such a problem with gambling. It reminds me of prohibition. A man or woman works hard for their money and should be able to spend it on a harmless activity. This is hardly drugs, we're talking. My wife loves to play online bingo but, had we elected to live in the states, her little bit of afternoon fun would be taken away from her. The US legal system is crazy. I wish I was more intelligent on the subject so I could fathom a reason why it takes such a stance. My only idea is law-making which is heavily influenced by evangelicals and the church.

Oh this is all about money. If they make it illegal, then they have control of all legal activities, and now it can be taxed.

It isn't illegal to gamble; it's illegal to do it outside of a state regulated area that they can?t tax.

don't mean shit.
lots of ways to move money.
their has been a "war on drugs" since Ronald Reagan, that worked real good didn't it?
this is more laughable than anything.

Yes, that I can believe. :Oh crap

I don't believe that internet gambling is illegal in every state but I stand to be corrected. It is a murky area.

Here's a few qoutes from a recent article in regards to Peter Dicks(SportingBet) being released.

"Offshore Internet gambling, however, is not a crime in New York, and Gov. George Pataki said the state law only permitted extradition if the accused person was physically present in the place where he is accused of breaking the law."

"Eight U.S. states have laws prohibiting Internet gambling: Washington, Nevada, Illinois, Indiana, Louisiana, South Dakota, Michigan and Oregon. Federal law also bans sports bets over the phone, even if the business is from overseas."

i dont see gambling ending soon , people will just find ways around it..

Gambling has very strict rules everywhere, not just the us. So only a moron still thinks the internet is a place where real world rules dont apply. The internet is a part of the real world! The only suprise about this, is it took so long to happen.

As long as it's legal to sell porn on dvd stores, magazines, etc.... there's no reason to stop it on the net.

Yes, the challenge that legislators have is the global nature of the internet.

Adult material is forbidden in serveral countries. However, it is difficult to censor the web...

Tim Berners-Lee rocks!:thumbsup

technically you are gambling on an indian reserve in another country.

it's legit.

You are aware that many counties in the US have a no-porn status... and others would not accept throat gagging ....
So the throat gagging sites should not be able to accept credit card transactions from these citizens ????

On-line Gambling is going to dissapear in the US , just like the drugs did from the streets ....

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well no matter what I am hoping maybe all those gamblers will now spend thier money on porn instead.

Internet gambling investments are risky?

NO!!

Question is... what will happen to Epassporte?

Porn is not exactly the same as gamling

Shhhhhhhhhhhhh........

Is porn next? Nope.

Gambling and porn are completely different situations. Gambling is basically illegal, except in very specific licensed locations. This legislation attempts to stop the flow of money to what is an illegal activity.

Porn is not illegal. Any attempt to solidly block payment to porn would get blown out in the courts within seconds.

Carry on.

Alex

I thought that the US was actually in the process of liberalising offline casinos.

It used to be just legal in Nevada, now many more states, or?

Well I am not aware of every law in the US, and I guess you guys have some pretty stupid ones.

But I AM aware that porn sells in the US, legally, in very large volumes, much more offline than online. So that makes me think most of the stuff is legal in most states. I dont care about the midget with horses niche getting banned.