A couple of things need to be corrected:
1). This is an updating of 1961 Act. It has said so at the top of each version of this bill. It actualy updates all the terminology of the 40 year old law to include the internet.
2). What the Senate passed is a compromise bill. The most controversal part of the bill was the section mandating that ISP's ban access to gambling sites. That was not included in the Senate version.
3). This bill applies to individuals and banks. I'll have to closely look at what the Senate passed, but other versions imposed a term of up to 5 years in prison for anyone who deposited gambling winnings into their bank account. (See you are allowed to gamble, but not collect your winnings, which is very tricky).
4). This bill includes anything that can be considered a "money transfer service or business."
5).They do have 270 days to implement it, if the Democrats win back control, expect this law to be changed.
6). The original House bill would have made places like Covers illegal for US citizens because Covers, "promotes and advertises gambling."
7). This bill is designed to put pressure on EFT services not to accept money from US customers who gamble. The only way to police this might be if banks stop processing Firepay and Neteller, unless these types of services agree not to process gambling transactions.
8). The ability to fund gambling directly through your bank account is dead. Sportsbooks will be hurt by this, but this is designed to be a kill shot to poker.
9). Speaking of poker, you can blame its popularity for this ban. Without the poker boom, social conservatives would not have gotten all up in arms and demanded this ban. As soon as ESPN started glorifying poker and websites got bold with their advertising, the religious conservatives started to rumble.
10). This whole thingisabout the social conservatives and the GOP's vital need for them to vote November 7th. A subplot here is that Bill Frist will be running for President in 2008, and he is thinks he can get to the White House by being the anti-McCain. Remember, gambling is a sin and this is why Frist pushed so hard for the ban.
11). I deal with politics everyday. I don't mean to sound preachy, but if most of you spent more time paying attention to what your elected officials stand for and what they are doing in office, instead of some meaningless sporting event, then perhaps people like Frist would not have gotten to be where they are today. Gamblers, like the poor, or immigrants are an easy group to pick on because they don't have a lobby or give big campaign contributions. I would respectfully suggest to every person who reads that that you would not bet on a game without doing some research first, so take a few minutes and get to know the candidates running in your state. In many places, it is not too late to register to vote. How many of you who are upset about the events of tonight, did not bother to vote in the last election? For those of you who always thought that politics do not impact your life. I guess that you found out tonight that they do.