Forget Jailing Online Gamblers; How About Jailing Online Gambling Execs?
from the whoops dept
Last week, when the House of Representatives tried to clarify online gambling laws to make it clear that poker was bad and deserved jailtime, but horse racing and lotteries were good, the various online casinos laughed it off, with BetOnSports CEO, David Carruthers, particularly dismissive of the bill in the press, noting: “We continue to believe that the likelihood of the bill passing the Senate is remote.” Investors agreed, pushing the stock of many online gambling sites up, as investors laughed their way to the bank. Who’s laughing now, however? Authorities apparently detained Carruthers at a US airport during a stopover on his flight from the UK back to his home base in Costa Rica today. Investors aren’t quite as happy, with the stock price of many online gambling sites dropping on the news.
Comments on “Forget Jailing Online Gamblers; How About Jailing Online Gambling Execs?”
I love watching the online Don Quixote’s (politicians) charging their web-based windmills (gambling, downloads).
Why was he detained? Was it just for comments made?
Re: Incomplete Story
good question, I have seen a few articles stating he was arrested, but none of which had any reference to why he was arrested.
Re: Incomplete Story
Bloomberg says he “was indicted by a federal grand jury on charges of racketeering conspiracy in connection with a U.S. gambling probe”.
along with the stock market.
Maybe it’s not gambling per se that’s bad but rather gambling competition.
maybe expect to be goverend by stupid laws
especially in countries where something is deemed illegal ?
if i am not happy with an enacted law, and i choose not to accept it, i would avoid that area.
Dont you get it? US based lotteries, horse betting and casinos built on real estate provide an income source to run the govenrment thru income tax and business tax revenues. Virtual casinos offshore don’t kick back an economic benefit to the US government or it’s citizens like state lotteries. If they did there would be no problem. The economic benefit goes to Costa Rica, Gibraltar, Jamaica, or wherever there are gambling servers.
So here we are pouring billions of US dollars into foreign accounts. The problem? The government has to print more money to keep up supply, because it isnt replenished thus increasing inflation because now your dollar isn’t worth as much as before.
I bet if the Senate enacted a law to tax winnings enforceably by every US based virtual gambler, then there wouldn’t be a problem. But how to tax an online gambler and collect when they can’t begin to collect on goods bought over the internet? I didn’t win any money last week, did you? What winnings?
yep, ‘follow the money’… work out why Congress is so happy with horse racing find out where all the money goes and who’s getting kickbacks…
now theres something worth jailing…
next they will want to arrest me for using play money to play poker…. no monopoly board is safe!!!!
So lets get this straight
does this proposal only affect online gambling sites in which there is actual money at stake?
Its all about goverment control. If they don’t run it, keep it in check, or aren’t given the lion’s share of the profit then it must be illegalized.
Re: So lets get this straight
An example recently in the news: Casinos in NJ had to close because of the govt. shutdown. The state regulators could not be present to make sure the state got it’s share of taxes…
So, the other gambling site owners take note:
1. Move to a non-extradition country.
2. Buy you own long-range jet for travel, to avoid where you aren’t welcome.
3. Use alternative funding mechanisms for payments.
4. Continue business.
5. But, don’t make enough money to be worth an invasion.
show me one major industry where million/billions of dollars ARENT going overseas
most of america’s industries are owned by foreign investors, tons of profits go overseas every year, and tons of them manage to avoid paying alot of taxes as well, by basing their companies out of p.o. boxes on grand cayman or something 😉
i think maybe congress is just fishing for their payoff
provide the whole story
what this story doesn’t inform you about is the fact that it was asso’d w/ the Gambino crime family. need proof?
search the page for “fafone”
i’m all for free enterprise, but fuck the mafia.
It’s indeed the very truth that government would never be Jailing Online gambling Execs. Gambling yields the biggest economy to the country though it be online or real. US based lotteries, horse betting and casinos built on real estate provide an income source to run the government through income tax and business tax revenues