Frist
Targets Internet Gambling - An Interesting Proposition
Senate majority leader Bill
Frist played his usual form of sneaky partisan
politics by attaching an online gaming ban to
a defense bill designed to boost security at the
nation’s ports last week.
The Safe Port Act provides $3.4 billion for U.S.
port security. Oh, and by the way, Republicans
attached a section making it unlawful for banks
to send money to Internet gambling sites.
Naturally, the timing was disgustingly suspect
with a crucial mid-term election a mere five (5)
weeks away.
The legislation bans banks and credit card companies
from accepting transactions from companies that
conduct online gambling. Although it will not
target the player, it does call for prison time
for those that run online gaming companies (two
CEOs have been arrested already). Banks that don’t
comply with the bill may also face punishment.
The bill passed the House with flying colors
last July, meaning that it only awaits the president’s
signature before becoming law.
PartyGaming, whose shares on the London stock
fell a staggering 59% on the news, said in a statement:
"If the President signs the act into law,
the company will suspend all real money gaming
business with U.S. residents, and such suspension
will continue indefinitely."
Enter PinnacleSports.com with a proposition that
caught my eye.
(this line was available as of 10/9/2006 11:00
AM PT)
World Series Of Poker: 2007 WSOP Main Event
Mon 12/4 How many entrants in the 2007 WSOP Main
Event?
05:00 PM 101 Over 7650 players +114
102 Under 7650 players -130
A gambler who I respect came to me with this
wager as he knows I follow the poker scene rather
closely. Immediately, I told him the under was
the correct side in this wager.
This year's field featured 8,773 players thanks
to droves of amateur players who qualified online.
The impact of this legislation is still speculative,
but most industry analysts believe that this bill
effectively cripples the business model with the
inclusion of the term "intermediaries"
(meaning money brokers like NetTeller and Fire
Pay will be impacted as well).
The Under was quickly bet down from even money
to -130 and I believe, but was unable to confirm,
that the number itself came down slightly as well.
In my mind, finding 7,650 poker players to find
their own way to Vegas and pony up $10,000 of
their own money will be a difficult proposition.
J.W. Williams is a documented member of The Professional
Handicappers League.
Read more of his articles and get his premium
plays here.
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