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President George W. Bush has signed a bill that cuts off the use of credit cards and various bank instruments for online gambling, which took effect on October 13. The new law is intended to shut down the $7bn online gaming industry in the USA.
Although internet gaming is technically illegal in the States, an estimated 23m US citizens could and did legally and conveniently gamble online, using foreign-based internet casinos.
In light of this new legislation, millions of American gamblers may simply set up overseas bank accounts. The US amusement-industry trade associations have monitored this issue for a long time, especially since this legislation has been pending for years. Their main concern was to ensure that its language would not accidentally ban skilled, networked video-game contests with cash prizes.
AAMA legal advisors have stated that the new legislation prohibits online “bets or wagers” that are defined in language that bypasses skill-based games.
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