Headlines: Poker, Law, and Politics (12/19/07)

articles:
US moves to preserve online gambling ban (Associated Press, 12/17/07)

Europe’s Online Gambling Sites Get Unlucky (Business Week, 12/18/07)

Banks attack conflicting US gambling rules (Financial Times, 12/18/07)

Mass. Gov: Don’t Moralize Gambling (Associated Press, 12/18/07 – MA)

A big deal (The Economist, 12/19/07)

media:
Charles Nesson Harvard Law Professor Charles Nesson testifies before the Massachusetts legislature about Internet poker (12/17/07)

blogs:
U.S. Partially Settles Internet Gambling Trade Dispute (Reason, 12/18/07)

Let’s Make a Deal: How the United States Bought its Way Out of Treaty Obligations and Shunned Billions in Tax Revenue in the Process (Lou Krieger, 12/18/07)

excerpts:

US moves to preserve online gambling ban (Associated Press, 12/17/07)
“The United States said Monday it has agreed to maintain concessions for companies from the European Union, Canada and Japan who want to do business in the U.S. so it can preserve its Internet gambling ban that has been ruled illegal by the World Trade Organization. The 27-nation EU said earlier in the day it had received trade concessions in mail services and warehousing as well as U.S. market opportunities for European companies offering testing and analysis services.”

Europe’s Online Gambling Sites Get Unlucky (Business Week, 12/18/07)
“The odds seem to be stacked against Europe’s online betting sector. After being shut out of the U.S. market last year, companies such as Britain’s Partygaming (PRTY.L) and Austria’s Bwin (BWIN.BE) were dealt another blow on Dec. 17 when the European Commission announced a trade settlement with the U.S. that scuppers their chances of re-entering that lucrative market.”

Banks attack conflicting US gambling rules (Financial Times, 12/18/07)
“Banking lobbyists are warning the US Treasury that regulations proposed in the wake of last year’s sweeping anti-gambling law will be impossible to comply with unless the Bush administration clarifies its conflicting views on online betting. The Financial Services Roundtable, which represents dozens of banks and other financial services firms, said it was “very concerned” that adoption of the rules could impose “significant” and costly compliance burdens on banks”

Mass. Gov: Don’t Moralize Gambling (Associated Press, 12/18/07)
“Gov. Deval Patrick, leading off a casino gambling hearing that lured Las Vegas chief executives to Beacon Hill, testified Tuesday that lawmakers shouldn’t moralize against casino gambling. The Democratic governor pushed his three-casino legislation as a way to create new revenues and jobs at a time when Massachusetts needs both. He said Massachusetts residents currently spend $1 billion annually at Connecticut’s two casinos.”

A big deal (The Economist, 12/19/07)
“Doyle Brunson is a poker legend. Twice winner of the game’s most prestigious annual tournament, the World Series of Poker (WSOP), held in Las Vegas, the cowboy-hat-clad southerner affectionately known as Texas Dolly also wrote what many consider to be the bible of poker theory, “Super System: A Course in Power Poker”. His reputation among card-shufflers borders on the superhuman. Indeed, after fighting off supposedly terminal cancer in the 1960s, he celebrated his return to the cardrooms with 53 straight wins.”

media:
Charles Nesson Harvard Law Professor Charles Nesson testifies before the Massachusetts legislature about Internet poker (12/17/07)

blogs:
U.S. Partially Settles Internet Gambling Trade Dispute (Reason, 12/18/07)
“It’s too bad Europe, Japan, and Canada caved. Here’s hoping little Antigua stays plucky. A few observations: First, and most obviously, the U.S. government is so hellbent on policing the online habits of its citizens, it’s willing to pay what will likely be tens of billions of dollars of money in trade reparations—taken from same said U.S. citizens in tax receipts—to maintain its dumb ban on consensual online wagering.”

Let’s Make a Deal: How the United States Bought its Way Out of Treaty Obligations and Shunned Billions in Tax Revenue in the Process (Lou Krieger, 12/18/07)
“According to an agreement signed a few days ago, the US will provide the European Union (EU) with trade concessions in mail services and warehousing as compensation for removing gambling services from its World Trade Organization (WTO) commitment. Although the EU sought $100 billion in concessions, these accommodations fall far short of the mark.”

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