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December 2, 2008 7:25:03 AM CST



Internet Gambling track this thread

Started by K Schwartz; Last updated by D Lim | View history

Internet Gambling

"Money won is twice as sweet as money earned." -Paul Newman

It's not such easy money. The US has been cracking down on Internet wagering in recent years: An October 2006 law made it illegal for credit card companies to accept charges for online gambling, effectively closing the market to foreign companies.

Stories

8 Stories

  • December 2008
    • Lines Keep Moving in Fight Over Online Gambling

      Lines Keep Moving in Fight Over Online Gambling

      (Newser) - Can 20th-century laws designed to stop old-school bookies put the kibosh on the multi-billion online gambling industry? Anti-gambling crusaders say they can, and they’re doing their best to prove it. Federal prosecutors have used the 1961 Wire Act to shut down several huge operations, the Washington Post reports—but critics say all the government is doing is driving companies, and their tax revenue, overseas. More »

  • November 2008
    • Feds Block Online Gambling

      Feds Block Online Gambling

      (Newser) - The Treasury Department and Federal Reserve will effectively outlaw most forms of online gambling with new rules that bar banks and credit card companies from processing transactions related to internet betting. The banking and gaming industry and House Financial Services Chairman Barney Frank oppose the new rules, reports the Wall Street Journal. The regulations, issued yesterday, will give companies just over a year to fully comply. More »

  • June 2008
    • Fantasy Sports Ruling: Bet on Hypocrisy

      Fantasy Sports Ruling: Bet on Hypocrisy

      (Newser) - Fantasy sports are A-OK with the Supreme Court and the US government—even though they’re essentially thinly disguised gambling games, writes Jacob Sullum of Reason Online. Many leagues openly include an entrance fee and a cash prize—which seems an awful lot like sports betting. But it’s not, the government insists, driving home how arbitrary gambling laws really are. More »

  • March 2008
    • Internet Addiction Rising

      Internet Addiction Rising

      (Newser) - Internet addiction is no longer a punchline—it’s a serious mental malady that’s gained acceptance from the scientific community, Ars Technica reports. A significant percentage of the US population feels “disconnect anxiety” when away from the internet or their cell phones, an extensive research effort by the Solutions Research Group found. More »

    • Judge Upholds Ban on Internet Gambling

      Judge Upholds Ban on Internet Gambling

      (Newser) - A Congressional ban on Internet gambling doesn’t violate the Constitution, says a federal judge. An online gambling association that challenged the law failed to show sufficient cause to stop its enforcement, the judge ruled, but does have legal standing to appeal the case. The group plans to do so within two months, reports AP. More »

  • January 2008
    • Bookies Pay Out on Longshot Clinton Bets

      Bookies Pay Out on Longshot Clinton Bets

      (Newser) - Clinton supporters of an apolitical kind had reason to celebrate after her surprise win in New Hampshire: bettors on a Hillary victory reaped huge payoffs after her odds dropped to a low of 100-to-1. Bloomberg reports that the Dublin-based Intrade had made an Obama result a near certainty, leaving contrarians who bet $100 holding a bag of $10,000. More »

  • December 2007
    • Big Sites Fold on Net Gambling

      Big Sites Fold on Net Gambling

      (Newser) - Microsoft, Google, and Yahoo have agreed to cough up $31.5 million to settle Justice Department charges they promoted Internet gambling by accepting advertising from gambling sites for the past 10 years, Reuters reports. The high-tech giants will pay some of that amount in fines, and will create PSAs telling young adults and teenagers that Internet gambling is illegal. More »

  • August 2007
    • China Unleashes Web Cops

      China Unleashes Web Cops

      (Newser) - Beijing police have an answer for Internet users who might be tempted to gamble or watch the Paris Hilton sex video: an animated officer who moves across your screen in a virtual car, motorcycle or on foot while admonishing you to steer clear of illegal content. The cartoon alerts will appear every half-hour on China’s 13 main portals starting Sept. 1, the AP reports. More »

8 Stories

In this image released Tuesday Aug. 28, 2007 by the Beijing Public Security Bureau, shown is cartoon figures of "virtual police". Police in Beijing said Tuesday they will soon begin patrolling the web...   (Associated Press)
Nate Silver left his job at a large financial firm and now plays poker on the Internet as his primary source of income. The Chicago resident says he expects to make $100,000 doing so this year.   (KRT Photos)
Steve Buding gestures as he speaks during an interview Tuesday, Oct. 2, 2007 in Miami. Budin, a self-styled offshore sports gambling "pioneer" who built a multimillion-dollar business, saw it all come...   (Associated Press)
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Background

gambling
The Columbia Encyclopedia, Sixth Edition

gambling or gaming, betting of money or valuables on, and often participation in, games of chance (some involving degrees of skill). In England and in the United States, gambling was not a common-law crime if conducted privately. Even in colonial America, however, gambling was liable to ...

» Read more about gambling at Encyclopedia.com

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