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trigger
04-12-2008, 10:41 AM
Official moves to block bet regulations
http://www.lvrj.com/business/17575559.html

Congress Moves to Suspend Internet Gambling Ban
http://www.foxbusiness.com/article/congress-moves-suspend-internet-gambling-ban_559013_1.html

More details:
No Text available yet on HR 5767 (Prohibit Enforcement Unlawful Internet Gambling Enforcement Act of 2006-(UIGEA)):
http://www.govtrack.us/congress/bill.xpd?bill=h110-5767


Click on "Full Text" to read HR5523 bill (Internet Gambling Tax) details:
http://www.govtrack.us/congress/bill.xpd?tab=main&bill=h110-5523

DeanT
04-12-2008, 11:29 AM
Gosh, let's hope so. The people who run racing who had this nonsensical thought that not allowing it will raise racing handles clearly did not happen. Time to get rid of it and work with the offshores to grow the game.

Australia is doing that right now:

Betfair and TOTE link Up. You can now bet into betfair, and have a link right through it to bet Aussie racing right into the pools. No separate accounts, no moving money from account A to B, all tracks covered in one interface, all types of betting (exotics and exchange) in a one-stop shop, and lower prices for every player. It's the future. Laws like "not being able to bet a race from Arizona" are the long ago past.

http://www.news.com.au/heraldsun/story/0,21985,23504020-5006021,00.html

Cangamble
04-12-2008, 11:30 AM
Official moves to block bet regulations
http://www.lvrj.com/business/17575559.html

Congress Moves to Suspend Internet Gambling Ban
http://www.foxbusiness.com/article/congress-moves-suspend-internet-gambling-ban_559013_1.html

More details:
No Text available yet on HR 5767 (Prohibit Enforcement Unlawful Internet Gambling Enforcement Act of 2006-(UIGEA)):
http://www.govtrack.us/congress/bill.xpd?bill=h110-5767


Click on "Full Text" to read HR5523 bill (Internet Gambling Tax) details:
http://www.govtrack.us/congress/bill.xpd?tab=main&bill=h110-5523

Great news. How can a Capitalistic Democratic society tell people not to bet on the internet when they also allow lotteries and horse racing and Vegas.

WEG is trying to get an internet ban here in Canada. It is their way of trying to compete.

Cangamble
04-12-2008, 11:32 AM
Gosh, let's hope so. The people who run racing who had this nonsensical thought that not allowing it will raise racing handles clearly did not happen. Time to get rid of it and work with the offshores to grow the game.

Australia is doing that right now:

Betfair and TOTE link Up. You can now bet into betfair, and have a link right through it to bet Aussie racing right into the pools. No separate accounts, no moving money from account A to B, all tracks covered in one interface, all types of betting (exotics and exchange) in a one-stop shop, and lower prices for every player. It's the future. Laws like "not being able to bet a race from Arizona" are the long ago past.

http://www.news.com.au/heraldsun/story/0,21985,23504020-5006021,00.html

I don't think the US needs to embrace Betfair. They should just set up their own exchange and hub it out of Vegas, and give some of the profits to the tracks they take action on.

DeanT
04-12-2008, 11:37 AM
I don't think the US needs to embrace Betfair. They should just set up their own exchange and hub it out of Vegas, and give some of the profits to the tracks they take action on.

They don't have to, all they have to do is license them as an ADW. Betfair will sell the US pools right on their website, just like Youbet or PTC does. Immediately you gain a world-wide customer base of bettors.

We know that won't happen, just look at the 19th century guys at Lone Star that think we still bet with a chalkboard, or tracks that think PTC is the devil for giving bettors a price break.

bigmack
04-12-2008, 11:45 AM
Go Barney, Go!

http://i165.photobucket.com/albums/u70/macktime/200px-1981_Barney_Frank_p62.jpg

Cangamble
04-12-2008, 11:51 AM
They don't have to, all they have to do is license them as an ADW. Betfair will sell the US pools right on their website, just like Youbet or PTC does. Immediately you gain a world-wide customer base of bettors.

We know that won't happen, just look at the 19th century guys at Lone Star that think we still bet with a chalkboard, or tracks that think PTC is the devil for giving bettors a price break.
I think it would be more profitable if the US racetracks got together and competed with Betfair, instead of joining them. What is to stop a US hub from taking worldwide customers. Sure, the growth at the beginning while the war is started will be rough, but in the end, the horsemen and racetracks will end up with a bigger chunk of the profits IMO.

Dave Schwartz
04-12-2008, 12:33 PM
I don't think the US needs to embrace Betfair. They should just set up their own exchange and hub it out of Vegas, and give some of the profits to the tracks they take action on.

Great idea, but not yet legal in Nevada. Apparently they are working on it, however.

Kelso
04-12-2008, 09:46 PM
From the Las Vegas Review Journal article:
"(The proposal is) a necessary one in light of the warnings from the Treasury and Federal Reserve that they did not know how to write regulations to solve the problems created by (the Internet gambling ban)," Sandman <<Jeff Sandman, a spokesman for the Safe and Secure Internet Gambling Initiative>> said in a statement.


I find it most reassuring that the Law of Unintended Consequences has not, and cannot, be repealed. :)

highnote
04-13-2008, 12:20 AM
I don't think the US needs to embrace Betfair. They should just set up their own exchange and hub it out of Vegas, and give some of the profits to the tracks they take action on.


There should be many exchanges. A bettor can choose among them for the best price and/or service.

Cangamble
04-13-2008, 01:08 AM
There should be many exchanges. A bettor can choose among them for the best price and/or service.
I'd rather have one North American based exchange that provided lots of liquidity.

InsideThePylons-MW
04-13-2008, 01:17 AM
I think it would be more profitable if the US racetracks got together and competed with Betfair, instead of joining them.

You've got to be kidding. Racetracks don't know how to compete.

Racetracks would want to charge 15% on exchange wagering. The last match race they charged about the equivalent of 35% commission.

LottaKash
04-13-2008, 03:09 AM
I don't think the US needs to embrace Betfair. They should just set up their own exchange and hub it out of Vegas, and give some of the profits to the tracks they take action on.


Well Said, and sound reasoning......:cool:

rrbauer
04-13-2008, 11:09 AM
Frank and his legislation to get government out of our pockets and get right-wing you-must-look-like-us-sound-like-us-and-pray-like-us elements shipped back to the 19th-century is funded by and primarily driven by various poker groups.

Might I suggest that everyone who lurks/posts here take the trouble to contact their federal representatives in the House and Senate and let them know that you support HR5767.

Here's a link that will get you contact info for officials in your state.

http://www.congress.org/congressorg/home/

Time to be proactive!

cj
04-13-2008, 11:35 AM
Great idea, I've already contacted them.

highnote
04-13-2008, 12:59 PM
Here's a link that will get you contact info for officials in your state.

http://www.congress.org/congressorg/home/

Time to be proactive!


Not only have I contacted them, I've contacted them about starting a US based betting exchange as far back as 1998. The only thing that stopped me from starting a US based exchange back then was the fact that I'd be thrown in jail.

Now 10 years later there is finally talk of legalizing them.

Sometimes it doesn't pay to be ahead of the technological curve.

It will be interesting to see what wins out -- 1 centralized US exchange perhaps owned jointly by the tracks -- like Equibase. Or many exchanges owned privately -- like ADWs.

I prefer private ownership.

Kelso
04-13-2008, 02:18 PM
I suggest that everyone who lurks/posts here take the trouble to contact their federal representatives in the House and Senate and let them know that you support HR5767.



Done.
I also urged repeal of the "Unlawful Internet Gambling Enforcement Act of 2006."

Oddzilla
04-19-2008, 10:00 PM
"The Safe and Secure Internet Gambling Initiative promotes the freedom of individuals to gamble online with the proper safeguards to protect consumers and ensure the integrity of financial transactions."

Sounds good to me!

Tom
04-20-2008, 01:10 AM
Perhaps it is time to totally outlaw betting on races over the internet and phones.

That should weed out 80% of the tracks. The whales could take up sumo wrestling.

rrbauer
04-20-2008, 10:43 AM
Perhaps it is time to totally outlaw betting on races over the internet and phones.

That should weed out 80% of the tracks. The whales could take up sumo wrestling.

that is funny! :lol:

rrbauer
04-20-2008, 10:48 AM
Frank and his legislation to get government out of our pockets and get right-wing you-must-look-like-us-sound-like-us-and-pray-like-us elements shipped back to the 19th-century is funded by and primarily driven by various poker groups.

Might I suggest that everyone who lurks/posts here take the trouble to contact their federal representatives in the House and Senate and let them know that you support HR5767.

Here's a link that will get you contact info for officials in your state.

http://www.congress.org/congressorg/home/

Time to be proactive!

And, this is SAD because after emailing my congressman,

I get a two-page letter back that begins,
"Thank you for your correspondence in opposition to the Federal Reserve Bank."

The letter then goes on to tell me how the Fed operates and what part it plays in our national banking system. It never discusses any issues vis-a-vis HR5767.

BCOURTNEY
06-01-2008, 05:53 PM
Gambling and Pari-Mutel wagering should be defined seperately. With the exception of social stigma, Pari-Mutel wagering more closely resembles the stock exchange and should be taxed and regulated in the same way. This is the difference between zero and non-zero sum games, and gambling for entertainment purposes and investing.

Tom Barrister
06-01-2008, 08:30 PM
Of course, the government doesn't give a rat's ass if there's gambling of almost any acceptable variety, as long as they get their share of the revenue. The various jurisdictions aren't getting a thing from money being bet offshore. Once it's set up in the U.S., it'll receive the blessing of the Feds, and state, county, and local governments, all of whom will be back-slapping with one hand while holding the other hand out for their cut.

BCOURTNEY
06-02-2008, 01:38 AM
Of course, the government doesn't give a rat's ass if there's gambling of almost any acceptable variety, as long as they get their share of the revenue. The various jurisdictions aren't getting a thing from money being bet offshore. Once it's set up in the U.S., it'll receive the blessing of the Feds, and state, county, and local governments, all of whom will be back-slapping with one hand while holding the other hand out for their cut.

Absolutely, let's make them understand how pari-mutuel is different and deserves a smaller cut, this is due to the difference between zero sum and non zero sum games, which is exactly why the pari-mutuel world cannot afford a higher tax rate, all the winnings are divided amongst the wagerers. In fact, since it can being shown that successful handicapping is skill based -- like successful investing why is it even in the ball park with gambling? Most likely due to the fact that some individuals turn in into gambling. Maybe they should levy a nice high tax on daytraders on wall street, penalize the individual investor.

In summary, I think if/when you contact your member, you should make sure that long term they understand firstly that pari-mutel wagering is investment, and that it needs to be seperated from gambling and casino, mentality, in fact I'll go as far to say that pari-mutuels biggest challenge today is seperating and distancing itself from gambling especially as indian casinos are popping up everywhere and runining communities and lifes. Can't avoid this eventual backslash unless there is clear seperation.

BCOURTNEY
06-02-2008, 01:41 AM
And, this is SAD because after emailing my congressman,

I get a two-page letter back that begins,
"Thank you for your correspondence in opposition to the Federal Reserve Bank."

The letter then goes on to tell me how the Fed operates and what part it plays in our national banking system. It never discusses any issues vis-a-vis HR5767.

Sounds like the canned email scanner autoresponder unit didn't function properly. Look at how truly sad we have let these representatives and their state of the art autoresponders become. Lol.

jcrabboy
06-02-2008, 01:10 PM
They don't have to, all they have to do is license them as an ADW. Betfair will sell the US pools right on their website, just like Youbet or PTC does. Immediately you gain a world-wide customer base of bettors.

We know that won't happen, just look at the 19th century guys at Lone Star that think we still bet with a chalkboard, or tracks that think PTC is the devil for giving bettors a price break.

Hi DeanT:

I live 10 minutes from Lone Star, but rarely go since the Magna takeover. Customer service sucks and the facility itself has really gone downhill.

I actually miss Trinity Meadows.

Jimmie

trigger
06-26-2008, 04:36 PM
http://www.lvrj.com/business/21712069.html

KMS
06-26-2008, 08:49 PM
And, this is SAD because after emailing my congressman,

I get a two-page letter back that begins,
"Thank you for your correspondence in opposition to the Federal Reserve Bank."

The letter then goes on to tell me how the Fed operates and what part it plays in our national banking system. It never discusses any issues vis-a-vis HR5767.

I contacted my Senators and Representatives opposing the internet gambling prohibition last year. Two didn't bother to answer, and the one who did basically gave me a lecture on the evils of gambling. This was the guy who was in the news recently for consorting with prostitutes, allegedly while wearing diapers.

overthehill
07-26-2008, 05:41 AM
Clearly the money you wasted on gambling was diverted from prostitution

Topcat
07-26-2008, 07:19 PM
Of course, the government doesn't give a rat's ass if there's gambling of almost any acceptable variety, as long as they get their share of the revenue. The various jurisdictions aren't getting a thing from money being bet offshore. Once it's set up in the U.S., it'll receive the blessing of the Feds, and state, county, and local governments, all of whom will be back-slapping with one hand while holding the other hand out for their cut.

You're right Tom. On this one, I find myslef agreeing with Ron Paul,
R-Texas, who said individuals should be allowed to spend money any way they want.

The trouble is we are being out lobbied by the thorougbred and race track associations who want the ban. They see it as "their" money and see Internet betting as taking it out of "their" pools and until that is changed we don't stand much chance. It really speaks to the larger subject of rebates. What didn't help things is there were a lot of bettors who would bet/fund via a charge card and then when they lost they would claim the card was stolen and the charge not theirs.

MNslappy
07-28-2008, 01:04 AM
someone do some sleuthing on .gov and post the vote by vote breakdown, who voted what.....as a typically center-right voter, I find it outfreakingrageous the way this vote played out. :bang:

Space Monkey
01-08-2010, 08:25 PM
Don't want to get too political here, but I'm just wondering when blue collar america is going to come to their senses and realize that the Republican party is doing absolutely nothing to benefit anybody,,,well except the top 2% in income and of course the large corporations that are the ones that really are running this country. . They preach and legislate their hypocritical "christian" beliefs on us while they are acting like whores themselves,,Mark Sanford, John Ensign, Larry Craig, anybody. Don't gamble, but its ok to bang anything thats breathing. C Street house anyone! Oh, Craig fought hard against the horse anti-slaughter bill too. F him.

BTW, I'm a left of center independent that believes that all the republicans are bought and paid for and most of the dems are. Theres a few good ones out there, but they are in the minority. Our political system is broken. We need a major overhaul.

Boats
01-09-2010, 02:50 PM
Space - you got that right. I used to have an account with Canbet. A book from England. Worked great until the republicans stopped it.

For an eye opener go to their web site https://www.canbet.com/

And click on 'join now' about 200 countries show up. But not the good old US of A.

Can anyone find a country except the US that is not on there?

We are also about the only country that can't travel to Cuba.

46zilzal
01-09-2010, 06:20 PM
S
We are also about the only country that can't travel to Cuba.
US citizens do it all the time by starting their trip here and the Cuban officials know enough to realize the influx of $$$$$$$$ NOT to even stamp the passport.

When I was in Europe last year I was really taken with all the innovative ways to bet. On the back of one edition of the Racing Post, extrabet.com (phone 0800 377 7171), has a bet allowing one to wager on the horse that stays in front to three furlongs out, and then collecting THEN and not waiting till the wire.

Laying bets to insure that a short priced horse does not win..I would kill them here with many of the come from the clouds dirt horse that NEVER get up in time.

gopony
04-26-2010, 02:54 PM
Isn't HR5767 the one that proposes a tax on ADW. Where if I put money into an ADW a percentage is immediately pulled out for taxes.

rrbauer
04-26-2010, 03:07 PM
Isn't HR5767 the one that proposes a tax on ADW. Where if I put money into an ADW a percentage is immediately pulled out for taxes.

There is no such legislation proposed for ADW's. Kentucky wants to tax ADW wagers made by Kentucky residents, 5% when they are made because wagers made at live racing meets and simulcast sites are taxed. This justification (taxing B because we tax A) can be extended to whatever level of ridicule you can dream up.

gopony
04-26-2010, 05:04 PM
What the heck is this guy talking about then?
http://www.miamiherald.com/2010/04/25/1595400_p2/is-online-gambling-a-win-win.html

gopony
04-26-2010, 05:40 PM
This one breaks it down better and explains more of what 5767 is and is not.

http://www.ogpaper.com/news/news-02151.html

HR 5523 is the one including taxes.

shouldacoulda
06-08-2010, 11:50 AM
It will be interesting to see what wins out -- 1 centralized US exchange perhaps owned jointly by the tracks -- like Equibase. Or many exchanges owned privately -- like ADWs.

I prefer private ownership.

Real private ownership. If you get the bureaucracies involved that are killing racing now they will just bleed it dry.