Online Betting Rules Need Clarification in the USA

Published Wednesday, August 10, 2011 - Online-Casinos.com
Online Betting Rules Need Clarification in the USA

The USA is in conflict over rules governing internet wagering and some politicians in the country feel those rules need some clarification.
Republican U.S. Representative from New York, Chris Gibson, has introduced a bill to make things a little less muddy in the murky waters of internet betting in the States. Current federal policy on Internet wagering is causing some financial institutions to block credit card transactions to legal advance-deposit wagering sites. The Congressman is pointing out that betting on the ponies via the internet is still legal in the USA.

The New York Racing Association has been struggling to maintain equilibrium and needs the revenue garnered from off track betting. Advance-deposit wagering (ADW), allows customers to wager by phone or the web, and has become vital in New York since the closure of New York City Off-Track Betting outlets. There has been a significant increase in punters form New York using the internet to place their bets since the changes were introduced.

A release regarding the proposed legislation stated,  Recently, the Department of Treasury and the Federal Reserve implemented a new set of rules on Internet gambling which could negatively impact the horseracing industry. While the rules were designed to crack down on illegal Internet gambling, they have unintentionally created confusion regarding the validity of credit card transactions for legitimate Internet-based wagers on horseracing that are sanctioned by the federal Interstate Horseracing Act. As a result, several credit card companies have decided not to process any gaming transactions, even legal Internet gaming transactions on horseracing.

NYRA President Charlie Hayward commented, “We appreciate Representative Gibson's efforts to protect the future of racing for NYRA, Saratoga Race Course, and the entire New York horse racing and breeding industry."

 

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