A week later & updated thoughts about the Gambling Bill and future of Cappers Mall

[Dr. Jack]

What is going on now has nothing to do with MVP/BoS. Although I understand the comparisons they really don’t have anything to do with each other. BoS broke the law, took a borderline business as it is and added unethical practices to the equation. It was not as simple as acting like an honest, reputable Bookmaker, casino or poker room.

Over the last week or so I have spoken to so many people regarding this. I have read everything. Of course everything is a guessing game but here is what I firmly believe.

This online gambling bill will clean up the industry a bit. It will eliminate some books that are not true Bookmakers but just marketers who go overboard and ruin it for others. It will also clean up some books that are not 100% legitimate. I also feel it will make it difficult for the average young adult or older teen from being able to just toss money in an account and bet or play poker.

But for the guys who are responsible, knowledgeable, forum visitors, etc should not see much of a difference with online gambling. A very important note to this bill is this bill does not contain any language concerning “making a bet is breaking the law”. It’s a non issue. This is about banks only. It may be tougher to send/receive money but let’s face it; probably less than 25% of people probably use credit cards and real banks to complete much of these transactions. Companies like neteller and future netellers will never go away. Even if neteller (a public traded company) decided it was in their best interest of their “stockholders” to stop doing business with the US, there would be 10 more netellers pop up. Each will learn from the past mistakes of other companies and they will fix and upgrade and create more loopholes. Just think back 10 years ago, anyone hear of paypal, swiftpay, firepay, click2pay, moneybookers or neteller? Of course you didn’t and 10 years from now there will be 50 of them. Sure an individual might be made an example of but the bottom line is this will not stop online gambling but it might take it out of the public limelight like it has been for the last several years.

Years ago when Jay Cohen was arrested and “convicted” there were people that said the online gambling industry would not survive. Besides it surviving it will continue to grow by leaps and bounds. In fact, Jay Cohen’s former site is still thriving better than ever.

How about when some credit card companies back in 2001 said they would now block gambling transactions? Sure it inconvenienced some but has it stopped?

What about when Paypal was purchased by Ebay and they announced that they would no longer allow their transactions to be associated with gambling? Remember, you used to pay or receive money from sportsbooks with paypal. When they stopped it was tough for some, what are we going to do? Well do you really miss paypal right now?

No one is trying to fool you and this is just my opinion. Of course there is reason for some concern. Stay focused, be smart and pay attention.

To answer the question/post about Cappers Mall folding – This is not happening. Cappers Mall will go on and things will remain status quo. I do not foresee any changes, like membership fees, etc. As of now there will not be any changes at all.

We are prepared though. We already have the domain cappersmall.co.uk, as well as several others (it forwards now to this forum) which can be ready at anytime on its own and if necessary – Cappers Mall current site would forward to that URL and the site would be hosted in Canada or the UK. We are making arrangements for backup plans with regards to this but know this; Cappers Mall is not going anywhere and will continue to grow. Even if is there was no offshore books – there is a market for Cappers Mall and it will be here for all of you to talk sports, handicapping and whatever else in the future.

The panic button will only get worse in recent times before it gets better. Watch how the panic triples when President Bush signs the bill – there will be a new panic session. You will hear about some public companies and others companies that may decide to stop dealing with the US. This will probably increase in the near future, however books that are privately owned and financially secure will not be going anywhere. Many of these strong books all have plans and none of them include given in to the pressure of politics.

I understand the rollercoaster and emotion of this entire thing. One minute you read something positive and the next minute its gloom and doom. It’s the same for most of us. We are all in this together. There will be some people who quit, or say it’s not worth it and I believe the bottom line is this just might clean up some of the problems with online gambling. Regardless of how long it takes to take care of itself, know that online gambling is not going away.

[uva3021]

good read, uplifting and very optimistic

[Brother Love]

you are rite jack, gambling has been around since biblical times and has survived many times when ppl has tried to stop it, its kinda like a cockroach. bottom line when there is a will there is always a way, & when there is a demand there will also be a supply.

What is dumb bout this to me is that the US govt create this situation where they cant profit from this, then gets jealous with countries who do. thats US political hipocracy rite there. You would think these politicians would learn from the past cuz we had this situation before in this countries history.

[The Judge]

Great post Jack. I have a couple of comments on statements that you make:

Originally Posted by Dr. Jack

This online gambling bill will clean up the industry a bit. It will eliminate some books that are not true Bookmakers but just marketers who go overboard and ruin it for others.

I know from the conversation that I had over dinner with three gentlemen in Costa Rica that the “marketers” are despised by the those that have remained true Bookmakers. I know that I am constantly bombarded with email messages and regular mail from this type and they are certainly to blame for much of the unwanted publicity that offshores are receiving.

Originally Posted by Dr. Jack

But for the guys who are responsible, knowledgeable, forum visitors, etc should not see much of a difference with online gambling. A very important note to this bill is this bill does not contain any language concerning “making a bet is breaking the law”. It’s a non issue. This is about banks only. It may be tougher to send/receive money but let’s face it; probably less than 25% of people probably use credit cards and real banks to complete much of these transactions. Companies like neteller and future netellers will never go away. Even if neteller (a public traded company) decided it was in their best interest of their “stockholders” to stop doing business with the US, there would be 10 more netellers pop up. Each will learn from the past mistakes of other companies and they will fix and upgrade and create more loopholes.

Some interesting language in the Act allows the federal regulators to exempt transactions where it would be impractical to require identifying and blocking. This obviously applies to paper checks. Banks have no way now of reading who the payee is on paper checks and cannot be expected to go into that business. Banks tried to defeat this bill, not because they cared about patrons’ privacy, but because they knew that it would cost them billions of dollars to set up systems to read paper checks.

Originally Posted by Dr. Jack

We are prepared though. We already have the domain cappersmall.co.uk, as well as several others (it forwards now to this forum) which can be ready at anytime on its own and if necessary – Cappers Mall current site would forward to that URL and the site would be hosted in Canada or the UK. We are making arrangements for backup plans with regards to this but know this; Cappers Mall is not going anywhere and will continue to grow. Even if is there was no offshore books – there is a market for Cappers Mall and it will be here for all of you to talk sports, handicapping and whatever else in the future.

I am glad to see that you are thinking this far ahead and have emailed you some information on my concerns about this.

[yoffff]

I sure do hope you are right!!!!!!!!!!!!!!!!!!!!!!

[Dr. Peebody]

Originally Posted by Dr. Jack

.

Even if neteller (a public traded company) decided it was in their best interest of their “stockholders” to stop doing business with the US,

was this meant to be sarcastic? i hope so. as a neteller stock holder i can tell you that both times all these shenanigans sprang up about eliminating gambling, the ntlr plc gets sh*t on.

if they're worried about stockholders, they should consider offering a BONUS to customers depositing to sportsbooks/poker sites.

when is bush supposed to sign this thing?

[robertg]

so...............I won't need to neteller you(jack) some cash anytime soon to keep coming to cappersmall. Whewwwwwwwww

[The Judge]

Originally Posted by Dr. Peebody

was this meant to be sarcastic? i hope so. as a neteller stock holder i can tell you that both times all these shenanigans sprang up about eliminating gambling, the ntlr plc gets sh*t on.

if they're worried about stockholders, they should consider offering a BONUS to customers depositing to sportsbooks/poker sites.

when is bush supposed to sign this thing?

Give me a break, man. If you are truly a stockholder in NeTeller, you should be aware that the stock is currently at 170.00 which is the highest it has been since last November. No question that it has been very volitile stock over the past week but it reached 230.89 on Wedneday trading.

Sorry you missed out on a gigantic payday.

[johnny1212]

Originally Posted by Dr. Jack

The panic button will only get worse in recent times before it gets better. Watch how the panic triples when President Bush signs the bill – there will be a new panic session. You will hear about some public companies and others companies that may decide to stop dealing with the US. This will probably increase in the near future, however books that are privately owned and financially secure will not be going anywhere. Many of these strong books all have plans and none of them include given in to the pressure of politics.

I understand the rollercoaster and emotion of this entire thing. One minute you read something positive and the next minute its gloom and doom. It’s the same for most of us. We are all in this together. There will be some people who quit, or say it’s not worth it and I believe the bottom line is this just might clean up some of the problems with online gambling. Regardless of how long it takes to take care of itself, know that online gambling is not going away.

u were 1000% right about panic getting worse b4 it gets better