I have been commanded to speculate: what to do?

[ukgaz]

Keep in mind that internet gaming is illegal. That's been true for a while but it wasn't really enforced. Now, it is very difficult to find a site that will accept accounts from US residents. Or they will accept accounts but funding the account is extremely difficult. You can't use your credit card. You can't transfer funds from your bank account. I know a lot of folks who are very upset about this but our government has decided they don't want people gambling online.

It's pretty difficult to be enforced. I've gambled online for about 6 years (bet on the fights). The UIGEA is just a stupid act but there are many ways round it

[disneysteve]

It's pretty difficult to be enforced. I've gambled online for about 6 years (bet on the fights). The UIGEA is just a stupid act but there are many ways round it

Agreed. It has just gotten harder. How do you fund your account?

[ukgaz]

Agreed. It has just gotten harder. How do you fund your account?

Easiest way is to contact the sportsbook/Website via email/phone or live chat. They will give you the latest workaround/funding option. At the moment Gold Pay works for some sites but these processes come and go on a monthly basis. There is the option of WU/MG but that is a hassle of leaving the house, etc. I think it will get better one day. For sports I know the NFL, NHL and NBA are against online gambling but fine with Vegas. Lucky for me if they make online gambling so difficult to do I can always drive 2 hours to Reno

[ukgaz]

Also as funding is difficult if you do find a site make sure they pay out. There are forums out there that keep track on the companies that don't pay

[Scanner]

I thought internet gambling was regulated by the state you lived in, not by the Federal gov't.

I confess - I know next to nothing about the subject.

I know they don't seem to have backgammon betting in Atlantic City though.

[disneysteve]

I thought internet gambling was regulated by the state you lived in, not by the Federal gov't.

I confess - I know next to nothing about the subject.

I know they don't seem to have backgammon betting in Atlantic City though.

Nope, that's the Feds. You can blow your paycheck or mortgage payment in casinos and racetracks across the country and nearly every state has a lottery but they've decided that wagering online shouldn't be allowed. Why? Because they haven't figured out how to tax it yet. I don't doubt that the day will come when it will get worked out.

AC offers all the typical casino games but that's it. No backgammon.

Previously, you could fund an online account with your credit card or wire transfer from your bank. Now, no such luck. There have been pre-paid Visa cards that worked after the law changed, but even some of those, like NetSpend, no longer permit casino-related payments. And, as ukgaz mentioned, there is the issue of getting your money back if you do somehow manage to make a deposit. Personally, I've given up on trying at this point.

[gambler2075]

-So where does that leave you? I would say you should swing trade. Find some biotechs that have hit support and are running up into an FDA meeting. AVNR is one, for example... currently pulling back on a bearish post on gekkowire. I am thinking of buying soon as I think there is quite a good shot of FDA approval on April 30th, as I think they have appropriately addressed the FDA concerns from the complete response letter of 2006... the only think I think is questionable is whether the FDA will get hung up on the increased level of dizziness that people had. No position currently. Current price 3.10

g

Hehe... I guess I was right on AVNR. Approved on Friday and doubled afterhours.

Avanir Drug Nuedexta Wins FDA Approval for Uncontrolled Laughing, Crying - Bloomberg

Brings my number of 100K$+ days to 4.

g

p.s. just as an aside, to be absolutely clear, I do not own any shares after selling out at 5$ on friday. I think this may go higher but I am absolutely not touching it at this point, just like I didn't want to touch CHTP at 7...