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online gambling
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online gambling

vampireJvampireJ Member
edited December 2012 in General

I am exploring this idea. What are the legal stuffs or anything else that I need to note of in building one?

Comments

  • TazTaz Member
    edited December 2012

    It is illegal.

  • dumb
    /thread

  • @vampireJ said: I am exploring this idea. What are the legal stuffs or anything else that I need to note of in building one?

    Same rules apply to these as to real casinos. Does not make a difference if it is cyberspace or not.

  • @auroaZ in USA, you can't have online casino. And since money Booker is like the only processor who accepts these casinos, I don't even want to go through that route.

  • Here is your issue:

    You get it up and running, the problem is the money. 99% of payment processors won't touch you and if you get one who will, getting the money transferred from payment processor to your bank account to allow you to operate your business is the biggest problem you will encounter.

    Previous operations tried it, such as the recent big name sites that went down within the past 2 years. Their slick attempt was to buy and operate a bank solely to allow funds to be transferred in to allow them to cash out and that's how they got busted.

    Has this information been enough to discourage you?

  • You're an imbecile

  • NHRoelNHRoel Member
    edited December 2012

    @HalfEatenPie said: imbecile

    Nice choice of word. @HalfEatenPie

  • haseltinehaseltine Member
    edited December 2012

    My friend once dream of this and I explained to him for his stupidity.

    Don't look far, just check the legal rules of all the nations around the world.

    The reason countries do not allow such activity is that it promotes the free flow of currency out of its country, pure, without any tradeoffs and production cost. It is simply killing a country's currency and making it shrink. It is a whole different story when a tourist visit another country, or the citizen goes to the casino at the local casino or simply put, the American goes to Las Vegas. The currency itself flows within the community, protecting the currency from collapsing. But if you're talking about international casino on the web, gambling, so to say. Any government will try their best to put your business out of reach from their citizens.

  • legality by country http://en.wikipedia.org/wiki/Online_gambling ...move to Antigua

  • Wow. A lot of misinformation here.

    Online gambling is perfectly legal, if you choose the right jurisdiction, and you essentially have two options:
    1. Go for something licensed and regulated.
    2. Start up in a jurisdiction that lacks relevant laws and run your business legally but with no license and regulation.

    There are hundreds of payment processors and banks that do gambling. US companies generally shy away from touching gambling, though some still do it through foreign subsidiaries (like PayPal).

  • @MrX Most countries do not as per explained on the problem with pure currency out flows. Not to mention islamic countries who certainly will ban such activity.

  • @haseltine Why would anyone look at those countries to set up a gambling company? I have no intention to sound like a prick - I'm just not sure I understand what your point is. There are plenty of countries that offer licenses and regulation, and a handful that lack laws and therefore allow you to operate.

    I know the industry very well, having been active in it for a number of years.

  • @haseltine said: Not to mention islamic countries who certainly will ban such activity.

    Pokerstars Limited... Doha, Qatar..... so, no :p

  • @MrX said: Online gambling is perfectly legal

    The United States Court of Appeals for the Fifth Circuit ruled[9] in November 2002 that the Federal Wire Act prohibits electronic transmission of information for sports betting across telecommunications lines but affirmed a lower court ruling[10] that the Wire Act "'in plain language' does not prohibit Internet gambling on a game of chance." But the federal Department of Justice continues, publicly, to take the position that the Wire Act covers all forms of gambling.[11]

  • If online gambling was to be illegal, how is the NYSE allowed to operate? I see a lot of similarities there :)

  • haseltinehaseltine Member
    edited December 2012

    @MrX When Country A export goods to Country B, there is an exchange of production, yes?

    A person from Country A gambled with a system made from a citizen of Country B loses, he loses his pure profit yes? Hence when he pays his money to citizen from Country B, country B earned a pure profit perhaps a tax made from country A considering the fact that some already arguing there are in fact gambling legal rule made in developed countries. There is no trade offs within the production between country. It is as such that made the whole economic system flawed. The basis of gambling is that the person who created the game have a higher percentage of winning strike than the player who plays the game. Certainly, international countries will delegate rules to reduce such activity that can suck up the currency fluctuation.
    I hope you understand what happens when a currency fluctuate. International countries will all in attempt to reduce the outflow of pure profit, hence even if legal rules has been delegated for international games, international countries will delegate even stricter laws to reduce the negative cash flow out of the country.

    I studied economics..And no hard feelings..theoritically this is how economic system works. In the absence of government intervention, then gambling is all good. These days, most countries, including China since the 90s formed a semi free trade and government based management, which is why. One will most favour its country, more than the other to survive. Your own country allows people to gamble among the citizens of your own. Your neighbouring country will protect themself from having such outflow. To go into further details, because of regional trading blocks like North American Free Trade Agreement, depending on what has been agreed upon, it may be allowed. But to tell you the truth, it will never happen among developed countries, and developing countries. There are too much things I want to addresed, but I fear no one will value this text anyway. If you wish for an even detailed explanation, I'd do it for free. lol

  • Offtopic.

  • joepie91joepie91 Member, Patron Provider

    Basically, if you have to ask this, you're not going to be able to run a successful online casino.

    @curtisg said: The United States Court of Appeals for the Fifth Circuit ruled[9] in November 2002 that the Federal Wire Act prohibits electronic transmission of information for sports betting across telecommunications lines but affirmed a lower court ruling[10] that the Wire Act "'in plain language' does not prohibit Internet gambling on a game of chance." But the federal Department of Justice continues, publicly, to take the position that the Wire Act covers all forms of gambling.[11]

    And this is relevant how?

  • people said it was illegal where it is not.

  • erhwegesrgsrerhwegesrgsr Member
    edited December 2012

    @joepie91 said: And this is relevant how?

    Because he thinks that when it isn't prohibited by one law, it isn't prohibited at all, which is of course, incorrect.

  • @curstisg said: people said it was illegal where it is not.

    It isn't prohibited for the Wire Act, it is for different laws, the Wire Act law is just defending itself

  • BronzeByte, yes I know it just depends where he would run it, but if you are asking how to run it, ect. Then he shouldn't run it at all. Plus he'd have to have the funds to pay the players when they win, ect.

  • @curtisg said: it just depends where he would run it

    It's not that simple... You will need licenses and such, and regarding the funds, most casinos ARE banks and they are designed to make people lose rather than win. In a single game one person can win while all the others in the same game all lose.

  • You can run it but can only cash out to a customers in EU

  • MrXMrX Member
    edited December 2012

    @curtisg - There are more countries than the US. I also note that you edited out the part where I state "if you choose the right jurisdiction." The US is clearly not "the right jurisdiction."

    @haseltine - That was not at all what I was asking. I was asking why anyone would even consider setting up a gambling company in a country that bars gambling.

    It's illegal in the US, so you don't do it there. You do it in for example Malta or Gibraltar instead. You can then pick and choose which other jurisdictions' laws to comply with. For example, most gambling companies do not accept players from the US. Many also block France, Italy, Spain, and a few other because of national licensing requirements; some open country-specific sites for those countries.

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