On-Line Sports Betting Legal Regulation --- Would You Pay A Small Tax?
On-Line Sports Betting Legal Regulation --- Would You Pay A Small Tax
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My experience betting with my On-Line accounts is very satisfying except there is no CASH FLOW. Of course your winning or losing is added to or deducted from your account balance. This is done by computer software and is there for you to withdraw your funds over a period of time.
I have never had a problem collecting on-line but you can wait 1 to 3 weeks to receive your money. The same thing when adding funds to your account. Waiting two weeks for money to show up in your account is annoying when you account balance needs replenishing.
Before Neteller became a target of our politicians and their archaic laws against internet gambling, Neteller was the best way to withdraw or deposit funds. Most On-line Sports Books used Neteller as their service provider along with major credit cards.
My transactions to Sporting Index and others was done in minutes (usually about 5 to 10 minutes to add to or withdraw from my account).
This was the solution to the Cash Flow problem that exists today.
This was before the 2006 US laws passed against the rights of US bettors to use credit cards togamble On-line. Neteller was forced to shut off access to all US bettors. The Unlawfull Internet Gambling Act was attached to the Port Security Bill to get it passed and signed by President Bush. One had nothing to do with the other. It basically choked off all types of betting funds transfer choicesto legimate Off-Shore gambling accounts.
Also, many Off-Shore betting websites lost 50% to 70% of their business and were dissolved or forced into eliminating many jobs.
Will thischange back someday to a Regulation Law permitting funds transfer toOff-Shore betting outlets forUS bettors. I believe any Regulation Law would be embraced by the gambling market.
Will the betting public be willing to pay a small tax for the right to betonline without the hassles that exist today. Perhaps a small fee of $99 yearlyto be deducted from winning bets over a 6 month period.This is just speculation but can ideas like this merit any consideration.
If or when lawfull regulation is enacted, the tax revenues will be many millions of dollars just like the lotteries that exist today. I wonder how the UK went about their lawfull regulation of internet gambling and if they imposed a small tax?