(I am talking about pre UIGEA times here)
I thought financial spread bookmakers (like IGIndex, Spreadex, Finspreads etc) refused to accept american customers for the same reason that the most cautious of traditional sports bookmakers have always refused american cutomers. ie Based on their legal advice taken on the legality of accepting bets from the US based upon the interpretation of the Wire Act.
However, I've now been told that finspread bookmakers actually rejected american customers for an entirely separate reason to traditional bookmakers, namely, that it would be illegal for americans to bet on foreign based derivatives.
Does anyone know if this is true and could you expand upon the legal side?
I thought financial spread bookmakers (like IGIndex, Spreadex, Finspreads etc) refused to accept american customers for the same reason that the most cautious of traditional sports bookmakers have always refused american cutomers. ie Based on their legal advice taken on the legality of accepting bets from the US based upon the interpretation of the Wire Act.
However, I've now been told that finspread bookmakers actually rejected american customers for an entirely separate reason to traditional bookmakers, namely, that it would be illegal for americans to bet on foreign based derivatives.
Does anyone know if this is true and could you expand upon the legal side?
