The Offshore Wire Forum > Public Forums > Offshore Sportbooks > sportsbooks that are publicly traded |
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TOW
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Date Joined Mar 2005
Total Posts : 196
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Posted 4/14/2005 7:22 PM (GMT -4) |
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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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TOW
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Date Joined Mar 2005
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Posted 4/16/2005 10:28 AM (GMT -4) |
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I would say that the real legal issue could be profiting from gambling losses. |
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merlyn
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Date Joined Mar 2005
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Posted 4/16/2005 12:46 PM (GMT -4) |
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TOW
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Date Joined Mar 2005
Total Posts : 196
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Posted 4/16/2005 7:22 PM (GMT -4) |
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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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TOW
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Date Joined Mar 2005
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Posted 4/16/2005 7:39 PM (GMT -4) |
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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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Date Joined Apr 2005
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Posted 4/16/2005 8:02 PM (GMT -4) |
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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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Date Joined Mar 2005
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Posted 4/16/2005 8:12 PM (GMT -4) |
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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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Date Joined Apr 2005
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Posted 4/16/2005 8:39 PM (GMT -4) |
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Is betting illegal?
or is bookmaking illegal? |
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TOW
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Date Joined Mar 2005
Total Posts : 196
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Posted 4/16/2005 8:44 PM (GMT -4) |
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bookmaking is illegal, and profiting from an illegal activity is illegal as well. |
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Concorde
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Date Joined Mar 2005
Total Posts : 33
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Posted 4/16/2005 10:01 PM (GMT -4) |
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Nearly everithing on this World is illegal ... |
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