ironpanther said:that’s why I’m saying—the law needs more fine-tuning—it’s not even an issue, just like how it wasn't an issue for them to slap a tax on every single cent of profit
I honestly think we still have plenty of options here in the US, and I wouldn't call the selection bad. Just look at our neighbors in Canada—they’ve got laws set up where only one single entity, a state-run lottery, is allowed to run betting in the whole country. What would those guys even have to say about it?
Saying the selection isn't bad is something only someone who doesn't know the first thing about gambling could say—or someone intentionally lying to us about what domestic books actually offer.
The selection is so much worse than what foreign sites offer that it puts American citizens in a seriously unfair position compared to people living in countries where these online companies are totally legal.
Actually, nobody has ever even bothered to write about this publicly in any of our media outlets—how betting through local American books almost GUARANTEES long-term financial ruin.
As for regulations—how on earth is the government supposed to track the origin of money coming through PayPal without sending a formal request to PayPal to see the user's private info (which, in my opinion, PayPal would unfortunately comply with)??
Besides, the letter of the law says it's forbidden
to deposit from within the USA:
1. the government can't prove I deposited anything if I just hold an account with an online book or if I simply sent a payment to that book...
2. they can't prove I was actually making those deposits from US soil
Both of those points could be proven if they had access to the private data held by the online company. But why would that company hand that over to the American IRS? Look, I'm no expert in international law, maybe there really is some statute that covers this...
If not—the US can ask, say, FanDuel to stop taking players from the States, but at the end of the day, it's their call whether they actually stop doing it or not.
My point is, as things stand right now, the government can't prove basically anything based on how this law is written, and it's nothing but a total cash grab.
The other problem, though, is that we all know how our legal system works, and I wouldn't be surprised if rulings are handed down based more on "the spirit of the law" than the actual text.