The U.S. Congressional Record – A SYNOPSIS
What’s gambling? Gambling is normally the wagering any event with an unknown outcome with an intention of winning some something of monetary value. Like in sports, there are two ways on how you can gamble: one is by playing a sport itself, like playing poker or playing a slot machine game; and the other is betting on some other things (like basketball odds, etc). Gambling thus involves three elements: risk, consideration, and a reward. Putting it simple, risks involve items that might fail 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 instance if you should be able to get your next hand or if your luck will just go out.
The American Gambling Awareness Center (AGAC) defines gambling as “the discretionary quest for chance to attain a desirable result”. In the eyes of a specialist, to say a person is a gambler is not only based on the conduct of the person but also by the attitude she or he shows towards the matter. For instance, if a gambler thinks that 마이다스 바카라 the casino’s it’s likely that 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 worries of losing something valuable.
Speculation involves conducting a financial transaction having an unknown objective and outcome, except that in the case of gambling, the purpose of the gambler would be to gain something from the transaction. Periodically a gambler is driven by speculation; however, it will not be taken to mean that all gambling is speculative. There are certain types of gambling which involves the expected return, such as the lottery games.
Expecting a particular sort of return from any financial transaction is purely speculation. Therefore the gambler has no assurance that he will actually come out with what he has wagered. However, the gambler can gain a particular advantage from gambling by gambling on something which is predictable to obtain a certain amount of expected return. The gambler doesn’t need to place a complete bet on the merchandise since what he wants to achieve is a small return.
There are various types of gambling, the most common ones are betting on horse races, bridge gambling, lotteries, sports gambling, etc. If you’re a gambler and you want to take bets on horse races for wagering, you must register first with the race promoters. This is why an application called the Wire Act was introduced. Even though Wire Act has been suspended in most states, it is still very important to visitors to know its provisions.
A different type of gambling is taken through telephone or wire transfer. This is done through the web or by taking a fax. The U.S. authorities has implemented and continues to enforce the federal law called the Wire Act in order 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 more so than any other form of gambling and the states are likely to stick to its requirements.
For example, 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 someone who is addicted to gambling and facilitates gambling activities for him is also guilty of gambling and aiding and abetting the gambling enterprise. The Wire Act also prohibits a person from transferring funds to a person whom he knows or has reasonable cause to believe 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 person 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. In order to be familiar with the federal law regarding online gambling, it is best that a person study the U.S. Congressional Record and find out about the different pieces of legislation that relate to 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 require a list of gambling topics to look up so that he can find out the pieces of legislation that directly concern gambling. This will help someone in learning the different pieces of laws that concern gambling.