The U.S. Congressional Record – A SYNOPSIS
What’s gambling? Gambling is normally the wagering any event with an unknown outcome having an intention of winning some something of value. Like in sports, you can find two ways on how one can gamble: one is by playing a sport itself, like playing poker or playing a slot machine; and another is betting on some other things (like basketball odds, etc). Gambling thus involves three elements: risk, consideration, and an incentive. Putting it simple, risks involve things that might go wrong at any given moment, such as losing a hand once you had the cards in your pocket or having a smoke at the casino. Consideration involves items that are worth considering for example if you will be able to get the next hand or if your luck will just run out.
The American Gambling Awareness Center (AGAC) defines gambling as “the discretionary quest for chance to attain an appealing result”. In the eyes of a specialist, to say a person is a gambler isn’t only based on the conduct of the person but additionally by the attitude he or she shows towards the matter. For example, if a gambler thinks that the casino’s odds are too low, then this might mean that the gambler isn’t ready to take the chance of losing that casino’s prize money; this may be caused by the fear of losing something valuable.
Speculation involves conducting a financial transaction with an unknown objective and outcome, except that in the case of gambling, the purpose of the gambler is to gain something from the transaction. Periodically a gambler is driven by speculation; however, it should not be taken to mean that all gambling is speculative. There are certain types of gambling which involves the expected return, including the lottery games.
Expecting a certain sort of return from any financial transaction is purely speculation. Because of this the gambler does not have any assurance that he will in actuality come out with what he has wagered. However, the gambler can gain a certain advantage from gambling by gambling on a product which is predictable to obtain a specific amount of expected return. The gambler does not need to place a whole bet on the product since what he wants to achieve is really a small return.
There are lots of types of gambling, the most typical ones are betting on horse races, bridge gambling, lotteries, sports gambling, etc. If you are a gambler and you desire to take bets on horse races for wagering, it is advisable to register first with the race promoters. This is exactly why a form called the Wire Act was introduced. Even though Wire Act has been suspended in most states, it is still very important to 고객센터 visitors to know its provisions.
A different type of gambling is taken through telephone or wire transfer. This is done through the Internet or by firmly taking a fax. The U.S. federal government has implemented and continues to enforce the federal law called the Wire Act as a way to strictly implement the financial transaction and financial surveillance along with stopping the abuse and misuse of gambling. Although that is applicable in all states, the Wire Act regulates online gaming way more than any other form of gambling and the states are likely to stick to its requirements.
For instance, the Wire Act regulates and prohibits persons from offering any gambling device or service to others, if the device or service is tangible or not, or if the offer will probably bring about injury or death to the person or harm to his property. In addition, one who is an immediate relative or partner of somebody who is dependent on gambling and facilitates gambling activities for him can be guilty of gambling and aiding and abetting the gambling enterprise. The Wire Act also prohibits an individual from transferring funds to a person whom he knows or has reasonable cause to trust is addicted to gambling, for instance, by a one who owns, manages or owns property a person uses to gamble. The Wire Act also requires that the individual facilitating the gambling take reasonable steps to ensure that the individual won’t get addicted.
The Wire Act has many provisions, including a ban on the transfer of real or personal property between individuals or within any gambling enterprise and the protection of players from unfair and deceptive acts or practices. To become acquainted with the federal law regarding online gambling, it is advisable a person study the U.S. Congressional Record and discover about the different pieces of legislation that relate with gambling. The U.S. Congress enacts laws concerning gambling and each state follows suit. Someone who is interested in studying the U.S. Congressional Record will need a list of gambling topics to check up so that he is able to find out the pieces of legislation that directly concern gambling. This can help someone in learning the different bits of laws that concern gambling.