Friday, October 06, 2006

I. Nelson Rose analyzes the Unlawful Internet Gambling Enforcement Act of 2006. Overall, my feeling that the law won't make a big difference is unchanged, but it still remains an open question as to how this will impact Neteller. It seems possible that government regulations developed in response to the new law could ban transactions with third-parties like Neteller as well as casinos, but time will tell. It is worth noting that the law changes nothing regarding the legality of placing on-line bets (the one breaking the law is the person taking the bet or facilitating the wagering, not the bettor). It is also worth noting that the bill was rushed through so quickly that at least one portion seems blatantly contradictory to the rest of the bill, and most likely is simply a typo, that, like the notion of corporations as people, shall now be the law of the land.

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