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Our beloved President , signed the ports security act today.

http://www.foxnews.com/story/0,2933,220496,00.html

Hidden inside this law is the Unlawful Internet Gambling Act The UIGA would make it illegal for banks, credit card companies and other financial intermediaries to transfer funds to online gambling sites. It does not outlaw the sites, just makes it illegal to settle online wages.

It sounds as if this law just pushes the sports betting back onto the streets where you can get action from a regular bookie As far as poker goes, I'm sure there are many home games in our neighborhoods.

There are overseas intermediaries who will take your money. Neteller is one, they're located in the UK. It's similar to paypal.

SharkOnLand wrote:There are overseas intermediaries who will take your money. Neteller is one, they're located in the UK. It's similar to paypal.

It appears they will be impacted http://investors.neteller.com/neteller/ ... t067am.pdf

SharkOnLand wrote:There are overseas intermediaries who will take your money. Neteller is one, they're located in the UK. It's similar to paypal.

The problem is now getting the money back. It is now illegal to "settle" bets. You can send money, but you'll have to gamble it all away.

That could be why one UK group sold off their US division for $1.
http://www.forbes.com/markets/2006/10/1 ... ets02.html

My guess as to what will happen...
A company will "sell gaming tokens". Where of course no financial prize will be given. In return, members may win "prizes" or "tokens" which may be used or exchanged for money at another site.

land_shark3 wrote:

SharkOnLand wrote:There are overseas intermediaries who will take your money. Neteller is one, they're located in the UK. It's similar to paypal.

The problem is now getting the money back. It is now illegal to "settle" bets. You can send money, but you'll have to gamble it all away.

That could be why one UK group sold off their US division for $1.
http://www.forbes.com/markets/2006/10/1 ... ets02.html

My guess as to what will happen...
A company will "sell gaming tokens". Where of course no financial prize will be given. In return, members may win "prizes" or "tokens" which may be used or exchanged for money at another site.

Internet gambling sites will just 'settle' your money back to your Neteller (or similar) account. Since they're not us-based, they are not in violation of the law.