- This topic has 27 replies, 17 voices, and was last updated 19 years, 5 months ago by
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- Posts
On second thoughts its probably better not to advertise that fact on here, all I will say is that it is possible to access BF in the States with software that can be downloaded from the internet and I’m definatley not Bill Gates.
CR,
If you get caught, you’ll still be breaking the law under the Wire Act. Not really a problem for people here for a week or two on their hols or here for business, but too much of a risk for likes of me who reside here, whilst the neo-fascists that run the country enjoy their latest witch hunt.
Drinkers, communsits, gamblers…….
Who’s next?
betting in america is definitely in the dark ages,ive lived here twenty years and the whole set-up is a disaster for the serious punter,its not all bad however,i like that its virtually free of charge to attend the racetrack,viewing, seating,eating and betting facilities are usually excellent,as for the drawbacks to racing in america i could write a book!
Pegwell,
I don’t think its the Wire Act (or any of the other federal anti-gambling legislation) that criminalises the punter:
http://www.gambling-law-us.com/Federal-Laws/
The federal stuff all targets the person "in business" – be it bookie, exchange or other gambling facilitator charging/ taking a rake-off from the activity – and is there to give inter-state and international assistance to laws of the individual states.
<br>Its the state laws that hit the punter:
http://www.gambling-law-us.com/State-Law-Summary/
which is why places like Indian reservations in theory can make their own rules (though apparently none have yet done it in practice).
best regards
wit
Zorro
Have PMd you on this. Message back if you need further details, though I guess it’s a bit late for you to jump on a plane now…
…. it might be worth him doing so though.
These bits of Kentucky state law noted on Chuck’s site raise the possibility that Zorro could go to Churchill Downs, bet thousands back to UK bookies/exchanges, and then claim back all the losing stakes:
…and if he doesn’t reclaim them within 6 months of paying them, it seems any other(s) of us could step in (totally risk free of being criminally prosecuted) and ask for three times his money back!
http://www.gambling-law-us.com/State-Laws/Kentucky/
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
372.020 Recovery of gambling losses from winner or his transferee.
If any person loses to another at one (1) time, or within twenty-four (24) hours, five dollars ($5) or more, or anything of that value, and pays, transfers or delivers it, the loser or any of his creditors may recover it, or its value, from the winner, or any transferee of the winner, having notice of the consideration, by action brought within five (5) years after the payment, transfer or delivery.
Recovery may be had against the winner, although the payment, transfer or delivery was made to the endorsee, assignee, or transferee of the winner…..
<br>372.040 Suit by third person where loser or creditor does not sue.
If the loser or his creditor does not, within six (6) months after its payment or delivery to the winner, sue for the money or thing lost, and prosecute the suit to recovery with due diligence, any other person may sue the winner, and recover treble the value of the money or thing lost, if suit is brought within five (5) years from the delivery or payment.
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
<br>…that civil aspect could well be a bigger incentive to UK bookies / exchanges not to accept bets from Kentucky (made by whatever means) than than the criminal sanctions…
best regards
wit
<br>WARNING: The above is a casual observation only, not legal advice of any kind.  Don’t do, or omit to do, anything in reliance on it.  Get your own specific detailed Kentucky and English legal advice.<br>
(Edited by wit at 10:07 am on Nov. 1, 2006)
The Yanks look after their own. More power to their elbows.
What am I saying! I should have said the neocon Republicans look after their own monied supporters.
Although it’s true, I believe, that in the past they have been more prepared to protect their own indstries and workers. Which relative to us, admittedly, is not saying a lot.
(Edited by Grimes at 7:59 pm on Oct. 31, 2006)
I am in the same boat as you Zerro. I want to bet on the exchanges but can’t legally due to this darn government.  On top of everything else, if I leave the country to bet legally and make money, I have to declare it so they can tax it:angry:  Not only do they make it a pain in the arse to place the bets, but they want their cut if you are successful also.  Land of the free my arse!!! ÂÂÂ
(Edited by 3rdeye at 2:12 am on Nov. 4, 2006)<br>
(Edited by 3rdeye at 2:14 am on Nov. 4, 2006)
Quote: from 3rdeye on 2:11 am on Nov. 4, 2006[br]I am in the same boat as you Zerro. I want to bet on the exchanges but can’t legally due to this darn government.  On top of everything else, if I leave the country to bet legally and make money, I have to declare it so they can tax it:angry:  Not only do they make it a pain in the arse to place the bets, but they want their cut if you are successful also.  Land of the free my arse!!! ÂÂÂ
How can they tax you on income that is earned in another country? Surely you are subject to the tax laws of the country that you earned the money in?<br>Anyway, how can they tax you for a pursuit that is illegal in that country? Sounds like they want to save their cake whilst eating it.<br>
The US taxes its own on the basis that they hold its passport, and follows them around the world
Most countries tax their own (on income and capital gains at least – not necessarily on death taxes) on the basis of residence.
As to those who are not their own, both the above tax outsiders on anything those outsiders make within their geographical borders through any sufficiently permanent branch, agency or similar establishment (ie from trading in, rather than trading with, their country).
Where there’s a danger of the same income being taxed twice, the OECD tax treaty system is meant to prevent it on the basis of bi-lateral arrangement between the countries concerned.
bit more detail at
https://theracingforum.co.uk/cgi-bin … opic=10035
its quite common for countries to tax the proceeds of illegal activity – applies in UK as well.   its how the US got Al Capone.
rationale would be why is it only the law-abiding who should have to pay tax?  its the law-breakers who the tax revenues have to be spent catching, convicting and accommodating.
best regards
wit
(Edited by wit at 3:33 pm on Nov. 4, 2006)
It is legal from a US perspective for a US citizen to bet on the exchanges while outside of the USA, as it would not be violating any US law.  The US wire act et al that make it illegal to place bets do not apply outside of the USA.  But Wit is right, even if it was illegal, you have to declare your proceeds or violate US tax laws.  Since the US is supposedly a democracy, I wonder who the heck made up these laws?  Certainly not the general population.  BTW, i didn’t vote for this administration, i guarrentee you that!! Next they’ll want to send me to G-bay for expressing my thoughts. Wait, who’s that at the door……?:o
(Edited by 3rdeye at 6:04 pm on Nov. 4, 2006)
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