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drunkguy
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 		    Posted 4/14/2005 5:26 PM (GMT -5)    Quote This PostAlert An Admin About This Post.
Let's say a US resident were to invest in a publicly traded sportsbook such as BOS.  Would they be liable under US anti-gambling statutes?
 
I assume these kind of securities would not be cross-listed in the American markets (i.e. ADRs, international mutual funds, etc), but I imagine there are ways for Americans to own them.
 
What about a company like Neteller who is indirectly a large part of the offshore gambling economy?
 
Seems like there is a possibility of prosecution, in that the stockholder "owns" the casino/sportsbook, and is thereby indirectly taking bets...
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TOW
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 		    Posted 4/14/2005 6:22 PM (GMT -5)    Quote This PostAlert An Admin About This Post.
I guess you might be right Drunkguy....lets hope to have a lawyer amongst our posters, so he or she may widen our horizons on this very interesting question.
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bigboydan
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 		    Posted 4/14/2005 7:44 PM (GMT -5)    Quote This PostAlert An Admin About This Post.
i wouldn't seem to think the share holder would be liable at all on this. because, there just a stock holder.

a good capper is only as good as his info.

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pier0
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 		    Posted 4/16/2005 8:22 AM (GMT -5)    Quote This PostAlert An Admin About This Post.
drunkguy said...
 
Seems like there is a possibility of prosecution, in that the stockholder "owns" the casino/sportsbook, and is thereby indirectly taking bets...
      Where did you hear this? 
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TOW
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 		    Posted 4/16/2005 9:28 AM (GMT -5)    Quote This PostAlert An Admin About This Post.
I would say that the real legal issue could be profiting from gambling losses.
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bigboydan
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 		    Posted 4/16/2005 10:47 AM (GMT -5)    Quote This PostAlert An Admin About This Post.
TOW said...
I would say that the real legal issue could be profiting from gambling losses.
true, but that would be part of your porfolio though. and, in the US goverments eyes stocks are considered legal.

a good capper is only as good as his info.

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merlyn
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 		    Posted 4/16/2005 11:46 AM (GMT -5)    Quote This PostAlert An Admin About This Post.
I won't comment on this....
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pier0
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 		    Posted 4/16/2005 4:51 PM (GMT -5)    Quote This PostAlert An Admin About This Post.
TOW said...
I would say that the real legal issue could be profiting from gambling losses.
      What?
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TOW
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 		    Posted 4/16/2005 6:22 PM (GMT -5)    Quote This PostAlert An Admin About This Post.
Pier,

The "climate" in the U.S. is much different from Europe. Let me make an example to you : affiliate deals are illegal in the U.S. since the affiliate profits from gamblers' net losses, therefore financially benefits from an illegal activity (bookmaking).

Even if a bit streched the same could be said for dividends deriving stocks held in a gaming company. I concurr it sounds, and is, absurd for us Europeans, but that's the way things go on this side of the ocean........
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pier0
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 		    Posted 4/16/2005 6:29 PM (GMT -5)    Quote This PostAlert An Admin About This Post.
TOW said...
Pier,

The "climate" in the U.S. is much different from Europe. Let me make an example to you : affiliate deals are illegal in the U.S. since the affiliate profits from gamblers' net losses, therefore financially benefits from an illegal activity (bookmaking).

Even if a bit streched the same could be said for dividends deriving stocks held in a gaming company. I concurr it sounds, and is, absurd for us Europeans, but that's the way things go on this side of the ocean........
      Affiliate deals are one thing...owning shares of companies regularly licensed and floated on foreign stock markets is a different story...
 
I'm sure Americans might own casino/sportsbook stocks without being liable of anti-gambling statutes... 
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TOW
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 		    Posted 4/16/2005 6:39 PM (GMT -5)    Quote This PostAlert An Admin About This Post.
I'm not sure as you are.....but since its an intriguing question I'll shoot it to a good attorney I know and will post his reply.
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pier0
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 		    Posted 4/16/2005 7:02 PM (GMT -5)    Quote This PostAlert An Admin About This Post.
BTW,

which anti-gambling statutes are we talking about?

I thought the recent WTO ruling made clear that there are no such laws prohibiting gambling...
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TOW
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 		    Posted 4/16/2005 7:12 PM (GMT -5)    Quote This PostAlert An Admin About This Post.
Pier,

First of all the WTO ruling concerns books operating out of Antigua ONLY. Despite the ruling, the U.S. will still maintain its hostile position towards gambling. Gambling on sports is illegal in the U.S., with the exception of Las Vegas. Holding stocks must be declared. The problem might arise if and when dividends are paid, since they are profits from an illegal activity.

Having said that I will drop a note to the attorney mentioning this specific example. Lets see what he comes back with.
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pier0
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 		    Posted 4/16/2005 7:39 PM (GMT -5)    Quote This PostAlert An Admin About This Post.
Is betting illegal?

or is bookmaking illegal?
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TOW
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 		    Posted 4/16/2005 7:44 PM (GMT -5)    Quote This PostAlert An Admin About This Post.
bookmaking is illegal, and profiting from an illegal activity is illegal as well.
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Concorde
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 		    Posted 4/16/2005 9:01 PM (GMT -5)    Quote This PostAlert An Admin About This Post.
Nearly everithing on this World is illegal ...
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bigboydan
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 		    Posted 4/16/2005 10:57 PM (GMT -5)    Quote This PostAlert An Admin About This Post.
TOW said...
bookmaking is illegal, and profiting from an illegal activity is illegal as well.
but owning shares of stock is not illegal roberto. as long as there legit bussinesses there legal.

a good capper is only as good as his info.

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