INTERNET LAW - Paying Online Gambling: Complex Realities of Cyber-Funding
Highlighted here are the peculiar financial aspects and high risk of involvement with online wagering for those who choose to flaunting the U.S. gaming laws. Those living in the U.S., especially if working or dealing with online gambling, risk prosecution much more than a casual U.S. gamer. Since Internet betting is illegal in America, anyone breaking the law could be targeted by the U.S. Federal authorities. For instance, a large gambling ring was discovered operating in U.S and has been prosecuted on RICO charges for misusing payment schemes.
A grand jury in Salt Lake City, UT handed down indictments in early May 2007, based upon the Racketeer Influenced and Corrupt Organizations Act (RICO) and alleging “conspiracy, bank fraud, violations of the wire-wager act, and money laundering” of those involved in online gambling. Seven persons were charged with “unlawful use of credit cards to handle payments for online casinos, a felony that involved transfer of $150 million from U.S. bettors,” all felonies. This case highlights the peculiar financial aspects and high risk of involvement with online wagering for those living in the U.S., especially if working or dealing with online casinos, since ‘Net betting is illegal in America. This article details the legal and illegal use of payment types for Internet stakes, especially as regards credit cards.
