"Internet, GAMBLING Prohibition ACT" has a Subcommittee Markup today.

Fishhead · May 3, 2006

</TD></TR></TBODY></TABLE><TABLE cellSpacing=0 cellPadding=10 width=541 border=0><TBODY><TR><TD class=tenptblack>
<TABLE id=ChildPage1_Crux1_CruxControl_InformationTable style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0><TBODY><TR id=ChildPage1_Crux1_CruxControl_DescriptionRow><TD class=tenptblack>5/3/2006 Subcommittee Markup of H.R. 4777, the "Internet, Gambling Prohibition Act" and H.R. 5092, the "Bureau of Alcohol, Tobacco, Firearms, and Explosives (BATFE) Modernization and Reform Act of 2006".
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Fishhead · May 3, 2006

Ok LAW experts, feel free to comment on this.

Fishhead · May 3, 2006

APPROVED

[URL="http://www.reuters.com/"]

[/URL] Updated: 7:47 p.m. ET May 3, 2006

WASHINGTON - A House of Representatives subcommittee Wednesday approved a bill that would ban Internet gambling, estimated to be a $12 billion industry.

The legislation would update and expand an existing federal law to cover all forms of interstate gambling within the United States, and would bar a gambling business from accepting payment in the form of credit cards, checks, wire and Internet transfers. It would also prohibit gambling on an estimated 2,300 Internet gambling sites.

Shares of some British-based gaming companies fell on news that the bill had progressed another step. PartyGaming Plc and 888 Holdings tumbled about 5 percent each on the London Stock Exchange.

Fishhead · May 3, 2006

Fishhead said:
APPROVED

[URL="http://www.reuters.com/"] [/URL] Updated: 7:47 p.m. ET May 3, 2006

WASHINGTON - A House of Representatives subcommittee Wednesday approved a bill that would ban Internet gambling, estimated to be a $12 billion industry.

The legislation would update and expand an existing federal law to cover all forms of interstate gambling within the United States, and would bar a gambling business from accepting payment in the form of credit cards, checks, wire and Internet transfers. It would also prohibit gambling on an estimated 2,300 Internet gambling sites.

Shares of some British-based gaming companies fell on news that the bill had progressed another step. PartyGaming Plc and 888 Holdings tumbled about 5 percent each on the London Stock Exchange.

The bill was approved on a voice vote by the House Judiciary subcommittee on crime. It will go to the full committee for consideration.
However, it remains unclear whether the legislation will reach floor votes in the House and Senate. Congress has a relatively short schedule this year because of the November congressional elections.
"Virtual betting parlors have attempted to avoid the application of United States law by locating themselves offshore and out of our jurisdictional reach," said Rep. Bob Goodlatte, a Virginia Republican who wrote the bill. The offshore companies use Internet sites that are "unlicensed, untaxed and unregulated," he said.
Under U.S. law, interstate gambling over telephone wires is illegal and other gambling is banned unless regulated by the states.

WildBill · May 3, 2006

Unreal, such a non-event today and shares were off 5 percent? These traders and so called investors are just plain dumb. This thing won't be decided in a public forum, it will be decided in some back room or bar in Washington.

Dante · May 4, 2006

Fishhead said:
The bill was approved on a voice vote by the House Judiciary subcommittee on crime. It will go to the full committee for consideration.
However, it remains unclear whether the legislation will reach floor votes in the House and Senate. Congress has a relatively short schedule this year because of the November congressional elections.
"Virtual betting parlors have attempted to avoid the application of United States law by locating themselves offshore and out of our jurisdictional reach," said Rep. Bob Goodlatte, a Virginia Republican who wrote the bill. The offshore companies use Internet sites that are "unlicensed, untaxed and unregulated," he said.
Under U.S. law, interstate gambling over telephone wires is illegal and other gambling is banned unless regulated by the states.

very nice:thumbsup2: thanks for the read fisherface

Whoson1st · May 4, 2006

Dante said:
very nice:thumbsup2: thanks for the read fisherface

Goodlatte must not be up for re-election this coming Nov. Since I live in Virginia it would give me the greatest of pleasure to send him back to whatever business he came from

Coffee Maker? Goodlatte.

Dante · May 4, 2006

Whoson1st said:
Goodlatte must not be up for re-election this coming Nov. Since I live in Virginia it would give me the greatest of pleasure to send him back to whatever business he came from

Coffee Maker? Goodlatte.

thats the spirit WHO!!!:thumbsup2:

gopherbob · May 4, 2006

Whoson1st said:
Goodlatte must not be up for re-election this coming Nov. Since I live in Virginia it would give me the greatest of pleasure to send him back to whatever business he came from

Coffee Maker? Goodlatte.

all congressmen are up for re election this november, you might not live in his district though.

patswin · May 4, 2006

Fishhead said:
The bill was approved on a voice vote by the House Judiciary subcommittee on crime. It will go to the full committee for consideration.
However, it remains unclear whether the legislation will reach floor votes in the House and Senate. Congress has a relatively short schedule this year because of the November congressional elections.
"Virtual betting parlors have attempted to avoid the application of United States law by locating themselves offshore and out of our jurisdictional reach," said Rep. Bob Goodlatte, a Virginia Republican who wrote the bill. The offshore companies use Internet sites that are "unlicensed, untaxed and unregulated," he said.
Under U.S. law, interstate gambling over telephone wires is illegal and other gambling is banned unless regulated by the states.

They key word for me out of that whole paragraph is UNTAXED

Masxmenos · May 4, 2006

Whoson1st said:
Goodlatte must not be up for re-election this coming Nov. Since I live in Virginia it would give me the greatest of pleasure to send him back to whatever business he came from

Coffee Maker? Goodlatte.

Goodlatte isn't in my district, so I can't vote for his opponent. But I encourage all who can vote AGAINST goodlatte to do so... this way he is aware that his bill is stupid.

BDiz..