On Mon, Feb 26, 2001 at 12:20:47PM -0700, Chris Rasch wrote:
> Bad news for those interested in idea futures markets...
Back when I was running the back end servers for DataCash, we gobbled
up about 80% of the UK online gambling market. It's legal in the UK --
albeit strictly controlled -- as are activities like spread betting.
So you might want to look into jurisdictions outside the USA that
regulate legal gambling. Get the system set up so that the punters open
a UK bank account with one of the online banks (e.g. egg) and move money
from _that_ to the futures market, and it's outwith the US control.
Note that this isn't going to be trivial; for example, under anti-
drugs money laundering laws in the UK proof of identity is required
before you can open a bank account.
This archive was generated by hypermail 2b30 : Mon May 28 2001 - 09:56:48 MDT