According to a newspaper wire report on March 24, 2009 ...
... "A New Jersey lawmaker is asking a judge to overturn a federal law that bans sports betting in 46 states.
"State Senator Raymond Lesniak filed a lawsuit that says the federal law is unconstitutional because it treats four states differently than the rest.
"The law prohibits sports betting in all states except Nevada, Delaware, Montana and Oregon. Of those, only Nevada and Montana currently allow sports wagering."
The federal law in question is most likely linked to the RICO (Racketeering Influence and Corrupt Organizations) Act.
Which means that any of you who bet on sports online at off-shore gambling casinos may be breaking RICO Act laws, which comes complete with some undesirable penalties if caught.
Non-sports casino games that are not allowed in certain establishments in certain states according to state law are another matter ... as is using a telephone wire (RICO Act again) to place a bet, and "telephone wire" now means any kind of telecommunications, including satelite.
Indeed, one of the last acts that GWB did was to sign into law a prophibition against U.S. financial institutions from financing on-line casino transactions, which means you can't use your U.S. corporation credit card to place on-line bets ... with the financial institution receiving the penalty if you do.
Some believe that the law is gray with regard to U.S. users using off-shore on-line gambling casinos.
Regardless, many lawmakers don't want us to throw our money away gambling, and, if we manage to win, and, of course, not declare the taxable winnings, these lawmakers don't like that either (but who cares what they like, right -- these hypocrits want a share of our winnings but they won't let us deduct our gambling losses! Talk about money-grubbers!).
However, I can understand the point with regard to traditional parlor games like blackjack, roulette, slotmachines, craps, etc. These are dead losers no matter what strategy the player employs, it's always just a matter of time.
In California it is truly sad, as you can walk into any Indian gaming casino and see gray-hairs throwing their social security money away like it was going out of style -- talk about getting scalped!
But ... what about sports betting?
Sports betting is entirely different.
With parlor games, there's nothing the player can do to change his long-term odds: it's a dead loser.
But with sports betting, well, that's more like playing the stock market (you know, "legalized" gambling), as the more information you have, the more likely you are to make a sound educated decision on which way the sporting event is likely to go.
Indeed, there are sports handicappers all over the web selling their prognosticating wares, and it's all perfectly legal.
It's what we do with the information we buy from them that pushes the envelope.
I think that sports gambling should be allowed freely, everywhere.
Yes, I know that some of you who have gone up against me regarding other vices will find it strange that I'm taking this stance on the matter.
But ... I will qualify my statement: I think that sports gambling should be allowed freely, everywhere, just as along as gambling in the stock market is allowed.
If there's anything that should be made illegal, it's the auto and medical insurance rackets -- they really look crooked to me.
And, I think that parlor games should be made illegal everywhere except as home and charity entertainment, as they play upon a gambling addiction that, like with drugs, is a no-win situation for the player.
But sports, that's different, that's just like playing the stock market, right?
Well ... what say ye on the matter?
... "A New Jersey lawmaker is asking a judge to overturn a federal law that bans sports betting in 46 states.
"State Senator Raymond Lesniak filed a lawsuit that says the federal law is unconstitutional because it treats four states differently than the rest.
"The law prohibits sports betting in all states except Nevada, Delaware, Montana and Oregon. Of those, only Nevada and Montana currently allow sports wagering."
The federal law in question is most likely linked to the RICO (Racketeering Influence and Corrupt Organizations) Act.
Which means that any of you who bet on sports online at off-shore gambling casinos may be breaking RICO Act laws, which comes complete with some undesirable penalties if caught.
Non-sports casino games that are not allowed in certain establishments in certain states according to state law are another matter ... as is using a telephone wire (RICO Act again) to place a bet, and "telephone wire" now means any kind of telecommunications, including satelite.
Indeed, one of the last acts that GWB did was to sign into law a prophibition against U.S. financial institutions from financing on-line casino transactions, which means you can't use your U.S. corporation credit card to place on-line bets ... with the financial institution receiving the penalty if you do.
Some believe that the law is gray with regard to U.S. users using off-shore on-line gambling casinos.
Regardless, many lawmakers don't want us to throw our money away gambling, and, if we manage to win, and, of course, not declare the taxable winnings, these lawmakers don't like that either (but who cares what they like, right -- these hypocrits want a share of our winnings but they won't let us deduct our gambling losses! Talk about money-grubbers!).
However, I can understand the point with regard to traditional parlor games like blackjack, roulette, slotmachines, craps, etc. These are dead losers no matter what strategy the player employs, it's always just a matter of time.
In California it is truly sad, as you can walk into any Indian gaming casino and see gray-hairs throwing their social security money away like it was going out of style -- talk about getting scalped!
But ... what about sports betting?
Sports betting is entirely different.
With parlor games, there's nothing the player can do to change his long-term odds: it's a dead loser.
But with sports betting, well, that's more like playing the stock market (you know, "legalized" gambling), as the more information you have, the more likely you are to make a sound educated decision on which way the sporting event is likely to go.
Indeed, there are sports handicappers all over the web selling their prognosticating wares, and it's all perfectly legal.
It's what we do with the information we buy from them that pushes the envelope.
I think that sports gambling should be allowed freely, everywhere.
Yes, I know that some of you who have gone up against me regarding other vices will find it strange that I'm taking this stance on the matter.
But ... I will qualify my statement: I think that sports gambling should be allowed freely, everywhere, just as along as gambling in the stock market is allowed.
If there's anything that should be made illegal, it's the auto and medical insurance rackets -- they really look crooked to me.
And, I think that parlor games should be made illegal everywhere except as home and charity entertainment, as they play upon a gambling addiction that, like with drugs, is a no-win situation for the player.
But sports, that's different, that's just like playing the stock market, right?
Well ... what say ye on the matter?
