The U.S. Congressional Record – An Overview
What is gambling? Gambling is generally the wagering any event having an unknown outcome having an intention of winning some something of value. Like in sports, you can find 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 when you had the cards in your pocket or having a smoke at the casino. Consideration involves things that are worth considering for example if you will be able to get the next hand or if your luck will just go out.
The American Gambling Awareness Center (AGAC) defines gambling as “the discretionary pursuit of 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 they shows towards the matter. For example, in case a gambler thinks that the casino’s odds are too low, then this may mean that the gambler is not ready to take the chance of losing that casino’s prize money; this can be caused by the fear of losing something valuable.
Speculation involves conducting a financial transaction having an unknown objective and outcome, except that regarding gambling, the goal of the gambler is 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, including the lottery games.
Expecting a particular sort of return from any financial transaction is purely speculation. Which means that the gambler has no assurance that he will actually 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 certain amount of expected return. The gambler doesn’t need to place a whole bet on the merchandise since what 올인 119 he really wants to achieve is really 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 are a gambler and you want to take bets on horse races for wagering, you have to register first with the race promoters. This is exactly why an application called the Wire Act was introduced. Although the Wire Act has been suspended in most states, it is still very important to people to know its provisions.
A different type of gambling is taken through telephone or wire transfer. That 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 so as to strictly implement the financial transaction and financial surveillance alongside stopping the abuse and misuse of gambling. Although that is applicable in every states, the Wire Act regulates online gaming more so than any other type of gambling and the states are supposed to adhere 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 is likely to bring about injury or death to the person or harm to his property. In addition, one who is an immediate relative or partner of a person 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 an individual from transferring funds to a person whom he knows or has reasonable cause to believe is addicted to gambling, for example, by a one who owns, manages or owns property that a person uses to gamble. The Wire Act also requires that the person facilitating the gambling take reasonable steps to make sure 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 familiar 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 require a listing 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.