The U.S. Congressional Record – An Overview
What’s gambling? Gambling is generally the wagering any event with 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 an activity itself, like playing poker or playing a slot machine; and the other is betting on various other things (like basketball odds, etc). Gambling thus involves three elements: risk, consideration, and an incentive. To put it simply, risks involve things 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 items that are worth considering for example if you can 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 an appealing result”. In the eyes of an expert, to say a person is a gambler is not only based on the conduct of the person but also by the attitude he / she shows towards the matter. For example, if 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 may be caused by worries of losing something valuable.
Speculation involves conducting a financial transaction with an unknown objective and outcome, except that in the case of gambling, the purpose of the gambler is to gain something from the transaction. There are times when a gambler is 현금 포커 사이트 driven by speculation; however, it will not be taken to imply that all gambling is speculative. There are specific types of gambling that involves the expected return, including the lottery games.
Expecting a particular kind of return from any financial transaction is purely speculation. Which means that the gambler does not have any 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 a product which is predictable to secure a specific amount of expected return. The gambler does not need to place a whole bet on the product since what he wants to achieve is really a small return.
There are several types of gambling, the most frequent 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, it is advisable to register first with the race promoters. That is why a form 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.
Another type of gambling is taken through telephone or wire transfer. This is done through the web or by firmly taking a fax. The U.S. federal government has implemented and continues to enforce the federal law called the Wire Act to be able to strictly implement the financial transaction and financial surveillance along with stopping the abuse and misuse of gambling. Although this is applicable in every states, the Wire Act regulates online gaming way more than any other form of gambling and the states are likely to stick to its requirements.
For instance, the Wire Act regulates and prohibits persons from offering any gambling device or service to others, whether the device or service is tangible or not, or if the offer will probably result in injury or death to the individual or harm to his property. In addition, person 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 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 that 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. To become familiar with the federal law regarding online gambling, it is advisable a person study the U.S. Congressional Record and find out about the different pieces of legislation that relate with gambling. The U.S. Congress enacts laws concerning gambling and each state follows suit. Somebody who is interested in studying the U.S. Congressional Record will need a listing of gambling topics to check up so that he can find out the pieces of legislation that directly concern gambling. This will help someone in learning the different bits of laws that concern gambling.