Group Admins
Bill HR2267 – Online Gambling Bill
Public Group active 1 year, 1 month agoWith the House Financial Services Committee voting it forward by 41 to 22, Barney Frank’s HR2267 bill seeking to legalize online gambling in the United States.
-
Sebahattin Devecioglu joined the group
Bill HR2267 – Online Gambling Bill 1 year, 1 month ago -
Todd Bordewick joined the group
Bill HR2267 – Online Gambling Bill 1 year, 6 months ago -
-
Troy Potter joined the group
Bill HR2267 – Online Gambling Bill 1 year, 8 months ago -
-
Glenn Grgurich joined the group
Bill HR2267 – Online Gambling Bill 1 year, 9 months ago -
Todd MacPherson posted an update in the group
Bill HR2267 – Online Gambling Bill: 1 year, 9 months agoI personally think that this will become law because the Feds stand to make a fortune in tax revenue. The Vegas Lobby Group stand in its way but I think that money will win out in the end.
So Assuming that this becomes law, will that not legitimize the ASM platform? SRI is great but I love my ASM.
Thoughts?
-
Todd MacPherson created the group
Bill HR2267 – Online Gambling Bill 1 year, 9 months ago
I was made aware of this bill being drafted right after we engaged our principal law firm in Washington. They are part of the main group involved in moving this forward. In fact, I had a number of discussions concerning the potential impact of passage and what it could mean for our efforts.
First, this will not be easy to pass. Yes, there is a…[Read more]
No disrespect intended, but I hope you are dead wrong. I will not bother arguing the hypocrisy of the anti-gambling lobby, but suffice to say that most, if not all, are all involved in gambling in some way.
I have never been a fan of Barney Frank, but I am rooting for him on this.
I still do not think that ASM was gambling but others disagree…[Read more]
Personally, I have an issue with gambling because it is not a productive enterprise. It serves no beneficial systemic economic purpose and generally creates more social damage that must be paid by society across the tax base (bankruptcies, foreclosures, divorce, substance abuse, etc.). There is plenty of broad-based long-term data supporting this…[Read more]
Well that depends on your definition of gambling – as far as playing poker, one-armed bandits, etc – very very rarely. I actually become bored with that rather quickly.
So where am I coming from? Three reasons that I can think of.
- The stock market is nothing but a casino (and, with high-frequency trading software, CDO’s, credit default…[Read more]
The stock markets CAN be gambling but are not by nature. They do serve a legitimate economic purpose in the economy.
Yes, governments certainly make a great deal of money taxing gambling operations of various kinds. That doesn’t make an extension automatically justified. Governments also make a great deal of money taxing tobacco, alcohol and…[Read more]
As far as ASM being a gambling instrument, this is something we had studied at the Federal level by the same firm that helped us draft the SRI. While it is not absolutely clear in the code, as long as the dividend payment system based on match wins/losses remains in the protocol, the consensus was that it COULD be construed as a gambling…[Read more]
Both of you have some good points. While on one hand I can see the downside of gambling as Chris suggested I can also see the hypocrisy of how things are structured now as Todd has suggested.
I certainly do not want to start a subject outside of what’s being discussed but how do either of you feel about the FairTax? If we’re on the subject…[Read more]
I am always amused by references to “the Feds” and “the Government” like it is some separate entity from us. We are a self-governed people. However, in my view, we are a people governed by the people (who show up). So… show up..
Tax policy at the highest level goes back to the fundamental question of “What kind of society do we want?”…[Read more]
What I’m finding tough to do is reconcile the excitement of ASM with the SRI. I’ll be honest. I haven’t found it yet. ASM while I think it was a form of gambling was exciting because it was in real-time and based on the outcome of games or athlete performance. And dividends were tied to those outcomes. For me personally that element…[Read more]
We are bidding out the MLB SRI simulator project right now. That will help everyone understand what trading the SRI looks like in real-time using historical data. I believe the simulator and the educational system will make it much easier to understand what the SRI is all about.
As far as game-related payments, that simply won’t be possible with…[Read more]
Great reading everyone. Thank you all for your great insights and discussion.