How much will the US have to pay by withdrawing gaming?

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I have read that other countries can file for future estimated losses.

I have also read that Antigua gaming revenue has fallen from $1b to 130mm per year.

I have to imagine that Costa Rica, Panama, Jamaica, and many many othre countries will step up to grab their share. I doubt the UK does, but they could - they too are sick of US greed and regulations and they do have a new administration coming in....

I don't know how the WTO figures out the concession, but I would assume it is the future value of losses. This could be quite a hefty hefty sum. If you figure 66% of the $12b industry is US based, that's $8b per year over however many years into the future the WTO looks. I also imagine they look at growth rate.

I suspect this is not the end of this matter. The WTO is not gonna like this bitch slap and when the fine is much higher than the US believes it will be, we shall see what they do... It is also likely the whole fining process could delay past Bush...

Sean
 

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Why $0? Seriously? I could really care less what they have to pay, but how will they be able to drop this from the WTO without paying the penalties the WTO allows for?

Sean
 

I can't dance
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Look at it this way.

The World Trade Organization agreements cover the trade in goods and services.

Gambling related websites is trade of services.

The US government has said trade in this kind of service is illegal.

This is not much different from the US government saying that trading in sleath technology for its aircraft, that trade in this kind of stealth goods to be treason & illegal.

Even though there is a trade treaty, any country who signs it, still has it right to make its own laws.

Those Carribean countries may get some compensation, but I doubt it.
 

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Even though there is a trade treaty, any country who signs it, still has it right to make its own laws.

Those Carribean countries may get some compensation, but I doubt it.

This makes total sense. Usually when the US does up a free trade agreement with a country they usually leave themselves plenty of wiggle room for stuff like this. The US has never said Antigua cannot host Sportsbooks they just made it illegal for their citizens to place bets offshore in the ¨Interest and protection of its children and families¨. Antigua is still free to do what it wants. Does anyone have a link of the Free Trade Agreement with Antigua?

FI
 

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The federal government has not made it illegal for US citizens or people living in the US to place offshore wagers.

The federal government has made it civilly (not criminially) illegal for banks to send money to these offshore books. The US has not written this law yet. It is due in June or July.

Sean
 

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The federal government has not made it illegal for US citizens or people living in the US to place offshore wagers.

The federal government has made it civilly (not criminially) illegal for banks to send money to these offshore books. The US has not written this law yet. It is due in June or July.

Sean

Your right Sean they hit the gamblers financially by cutting off their only possible way to send monies offshore using the merchant tools. This has to be the first step towards regulation. I cannot see them allowing Indian Casinos in every State and Las Vegas and Atlantic City and getting rid of online Gambling altogether. Look at beautiful New York trying to lead the way by offering its people the option to wager online on horses. Its only a matter of time.....

FI
 

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I have read that other countries can file for future estimated losses.

I have also read that Antigua gaming revenue has fallen from $1b to 130mm per year.

I have to imagine that Costa Rica, Panama, Jamaica, and many many othre countries will step up to grab their share. I doubt the UK does, but they could - they too are sick of US greed and regulations and they do have a new administration coming in....

I don't know how the WTO figures out the concession, but I would assume it is the future value of losses. This could be quite a hefty hefty sum. If you figure 66% of the $12b industry is US based, that's $8b per year over however many years into the future the WTO looks. I also imagine they look at growth rate.

I suspect this is not the end of this matter. The WTO is not gonna like this bitch slap and when the fine is much higher than the US believes it will be, we shall see what they do... It is also likely the whole fining process could delay past Bush...

Sean

But, you also have to realize who controls the WTO -- it is primarily the developed countries. U.S., UK, Japan, the European Community.
 

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So what happens if the UK asks for lost revenue? Very unlikely but with the share losses experienced it is not impossible. We have had trade disputes with our allies in the past.

Most importantly, the US killed neteller. Most gamblers have never heard of neteller. Most gamblers either bet on credit, sent a wire, WU, or bank check from time to time.

Getting rid of neteller will hurt people on this forum, but at least 90% of gamblers just gamble at one book and will continue.

3 years from now, when we look back, Antigua will be making more gambling money than they did last year.

In a few years, the US will find something new to pick on... In the 80s it was cocaine, in the early 90s, porn, then hookers, and now gaming. You will notice all the other ones survived just fine...

Sean
 

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Look at it this way.

The World Trade Organization agreements cover the trade in goods and services.

Gambling related websites is trade of services.

The US government has said trade in this kind of service is illegal.

This is not much different from the US government saying that trading in sleath technology for its aircraft, that trade in this kind of stealth goods to be treason & illegal.

Even though there is a trade treaty, any country who signs it, still has it right to make its own laws.

Those Carribean countries may get some compensation, but I doubt it.

Look at it this way.

Gambling related websites are trade in recreational services.

The US has said this is illegal, unless it happens to be a website for betting at US racetracks from within the US.

This is not much different from saying our citizens can bet online on horse races but not if it involves trade with a foreign country.

Even though there is a trade treaty a country still has the right to make its own laws, but not apply them in a discriminatory fashion that is protectionist, a restraint of trade and an abrogation of the trade agreement it signed.

The WTO may award the Carribean countries significant compensatiion, but who knows whether the US will pay up.
 

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The US has more guns. The US has ALLLL the power. It rules the world in case you didn't notice
 

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The U.S. government extracts 2.5 trillion (that's right trillion with a "t") from its citizens in federal income taxes. Now that is power !! Barely a whimper is heard. Think about how amazing that is. Antigua is going to mess with that?? Right...

On a side not, it's amusing to listen to the people complain about gas prices, mere pennies compared to the government extraction which takes place every year. The propagandists in this country are experts, the best the world has ever seen.
 

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I seriously doubt if the USA will pay anyone anything. We do what the fuck we want and if they don't like it what are they going to do? Besides, how much money do we pay these a-holes to support their countries? Look that up first and then I'll tell you how much we're NOT giving anyone!
 

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