It appears that the United States legal system is closer than ever before to cutting off ties with any type of online gambling within its boundaries. This includes poker, casinos, and sports betting among others. Generally speaking, anything that has to do with transmitting money via the internet as far as gambling is concerned is being cracked down on quite harshly. For quite some time the United States House of Representatives has been trying to pass a bill that will make it much more difficult for people to get away with breaking the online gambling laws.
Not to mention stricter penalties for those who are caught. In July 2006 they finally got what they were hoping for when legislation was passed with a vote of 317 to 93. By passing legislation, it appears imminent that the Wire Act of 1961 is going to be updated to more closely coincide with the internet world of today. Basically, the Wire Act states that it is a felony to transmit bets via wire communications. The next step in the process is for the bill to go in front of the Senate. If they agree with the first round of voting it is safe to say that things are going to change drastically.
The changes that are going to be made to the Wire Act are quite simple. First and foremost the internet will be added to the list of wire communications that are prohibited. Of course the internet was not around in 1961 so it was not included in the first draft.
In addition, penalties for breaking the Wire Act will increase from a maximum of two years in prison to five. With this movement the United States has taken a different approach to online gambling. Whereas other countries are working with these services to regulate them, the United States is attempting to prohibit them once and for all. By doing this they are missing out on the ability to tax internet gambling instead of getting rid of it entirely.
Conservative estimates have shown that taxing these services could make the government in upwards of $6 billion a year. So you are based in the United States and worried about your money and current situation, right? If so, there is one thing that you should do right away in order to protect yourself. Close down your account, and switch your funds over to an offshore or overseas service. Not only will this ensure that you are doing everything legally, but you will also be able to keep your money safe.
If you are like a lot of players you may have quite a bit of money in your online gambling account. Do you want to lose all of that if something happens? It is better to be safe than sorry in this case. Switching a service located outside of the United States it not hard to do. In fact it is quite easy since there are many quality services to choose from.
The most difficult thing that you will need to do is find the one that best suits your needs. Overall, the majority of people feel that the United States is missing the boat on this matter. Instead of simply regulating the industry like the rest of the countries in the world, they are trying to get rid of it altogether. This may have some benefits, but for the most part there is a chance that it could end up back firing. It will be interesting to see what the Senate decides to do in the upcoming months.
Wallace Willis is the editor of SportsBetting1Stop. They partner with reputable companies that established more than 30 years to provide users with a one stop shop for all of their wagering needs. For details, visit www.sportsbetting1stop.com