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Question for short-term investors

BigGameBulls

By BigGameBulls
in The Trough

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BigGameBulls

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Will any of you be using an online sportsbook this football season? I was speaking with some friends and they mentioned that banks will not cash/deposit checks from these offshore sites. Is this true? I thought the law passed last year but never really took effect. Any info and recommended sites are appreciated...

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It appears that the Federal Reserve Board has not enacted rules to enforce the ban... and there is a case filed to block it as well...

Interactive Media Entertainment and Gaming Association, Inc. v. Federal Reserve System, No. 07-2625 (D. N.J., filed June 5, 2007). Action to challenge implementation of the Unlawful Internet Gambling Enforcement Act of 2006.  (filed in the US District Court of New Jersey)

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Joe Toro Magnifico

Joe

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Be careful, the feds are trying to restrict banks paying out from online sportsbooks. You can put money in and never get it back unless you have an overseas account.

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