- Thread starter Aprilj4
- Start date
Online Casinos
The US Congress passed a law making it illegal for people to use credit cards for the purpose of online gambling. So even if your online business is there, any transactions originating from the USA would break federal law.
SEC. 3. PROHIBITION ON ACCEPTANCE OF ANY BANK INSTRUMENT FOR UNLAWFUL INTERNET GAMBLING .
(a) IN GENERAL- No person engaged in the business of betting or wagering may knowingly accept, in connection with the participation of another person in unlawful Internet gambling --
(1) credit, or the proceeds of credit, extended to or on behalf of such other person (including credit extended through the use of a credit card);
(2) an electronic fund transfer or funds transmitted by or through a money transmitting business, or the proceeds of an electronic fund transfer or money transmitting service, from or on behalf of the other person;
(3) any check, draft, or similar instrument which is drawn by or on behalf of the other person and is drawn on or payable at or through any financial institution; or
(4) the proceeds of any other form of financial transaction as the Secretary may prescribe by regulation which involves a financial institution as a payor or financial intermediary on behalf of or for the benefit of the other person.
SEC. 3. PROHIBITION ON ACCEPTANCE OF ANY BANK INSTRUMENT FOR UNLAWFUL INTERNET GAMBLING .
(a) IN GENERAL- No person engaged in the business of betting or wagering may knowingly accept, in connection with the participation of another person in unlawful Internet gambling --
(1) credit, or the proceeds of credit, extended to or on behalf of such other person (including credit extended through the use of a credit card);
(2) an electronic fund transfer or funds transmitted by or through a money transmitting business, or the proceeds of an electronic fund transfer or money transmitting service, from or on behalf of the other person;
(3) any check, draft, or similar instrument which is drawn by or on behalf of the other person and is drawn on or payable at or through any financial institution; or
(4) the proceeds of any other form of financial transaction as the Secretary may prescribe by regulation which involves a financial institution as a payor or financial intermediary on behalf of or for the benefit of the other person.
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casinos
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How many posts on the old online casino startup have we seen in the last few years? How many new online casinos in the DR? Zero. Zero new gentlemens clubs, whorehouses, etc., run by gringos. Some day they will learn. Someday.
How many posts on the old online casino startup have we seen in the last few years? How many new online casinos in the DR? Zero. Zero new gentlemens clubs, whorehouses, etc., run by gringos. Some day they will learn. Someday.
G
gary short
Guest
DCfred said:
That's Law in the US... meaning you can't operate an online Casino based in the USA receiving bet payments from anywhere by bank instrument (Eg: Credit Cards)... which basically makes the operation of a US based online casino near impossible.
It could also mean that it would be illegal for gamblers within the US to use their credit cards to place bets anywhere in the world.
But I don't see how the above law would affect in anyway an operator of a casino based outside the USA to accept credit card payments from anywhere, yes, even ones originating from the US as this would be the only responsibility of US based gamblers disregarding the law affecting them. (?)
In other words, the US congress has no jurisdiction outside of Irak... ehm the USA
... J-D.