| RECENT NEWS
On
October 13, 2006 President Bush signed legislation that effectively
makes online gambling illegal. The new law prohibits people from
using credit cards and other electronic transfer mechanisms to place
bets using their computer.
The
law makes it a federal offense for companies to accept or handle
money obtained from Internet betting in the US. There are still
some things unclear about the Bill and the Government has nine months
in which to issue regulations state that financial institutions
must block gambling related transactions.
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