Casino Gambling Guide

Will Federal Banking Regulations Force Online Casinos to Fold? Until recently, online casinos operated outside of the reach of the United States Government. Now, in an innovative effort at law making, Congress has charged banks and other financial institutions with preventing the operation of online casinos in the US market. By requiring banks to shun transactions from gambling sites, Congress hopes to cut off the interaction between sites and their customers on US soil. Whether this will be successful is unknown. This discussion will explore what the new regulations will do to both the banking and gaming industries. More importantly it will examine whether this is an appropriate and acceptable form of law enforcement. Will this law overburden banks by making them the agents of the federal government, or will it be an easy to incorporate standard that will make banks more secure? Should online gambling be outright prohibited in the United States or should Congress merely regulate and tax this activity? These and many other questions will be explored during the lecture. Speakers include: Steve Verdier, Senior Vice President and Director of Congressional Relations Group for the Independent Community Bankers of America Houman Shadab, Senior Research Fellow, Mercatus Center Regulatory Studies Program Michael Borden, Office of Congressman Jim Leach Moderated by: Gavin Young, Counsel for the Senate Judiciary Committee. Music performed by Two Violins and licensed under Creative …

Will Federal Banking Regulations Force Online Casinos to Fold? Until recently, online casinos operated outside of the reach of the United States Government. Now, in an innovative effort at law making, Congress has charged banks and other financial institutions with preventing the operation of online casinos in the US market. By requiring banks to shun transactions from gambling sites, Congress hopes to cut off the interaction between sites and their customers on US soil. Whether this will be successful is unknown. This discussion will explore what the new regulations will do to both the banking and gaming industries. More importantly it will examine whether this is an appropriate and acceptable form of law enforcement. Will this law overburden banks by making them the agents of the federal government, or will it be an easy to incorporate standard that will make banks more secure? Should online gambling be outright prohibited in the United States or should Congress merely regulate and tax this activity? These and many other questions will be explored during the lecture. Speakers include: Steve Verdier, Senior Vice President and Director of Congressional Relations Group for the Independent Community Bankers of America Houman Shadab, Senior Research Fellow, Mercatus Center Regulatory Studies Program Michael Borden, Office of Congressman Jim Leach Moderated by: Gavin Young, Counsel for the Senate Judiciary Committee.

A Centre for the New Europe debate

In a case brought by Antigua, the WTO has recently ruled that a US ban on gaming is illegal. The US is now refusing to to take heed of the WTO finding, and the conflict now threatens to spark a trade war between the US and not merely Antigua but the EU, too, given EU companies’ expertise and operations in online gaming. Over €80 billion in possible trade concessions is now at stake between the EU and US.

The case is analogous to Ecuador’s victory over the EU in its dispute over banana imports, showing that WTO disputes can deliver results for smaller countries. The issue here is: what next?

More info at http://www.cne.org/events/by_date/event_2007_1010_WTO.htm