Hi Say you start a gambling casino or adult site hosted outside your country (which disallows most forms of gambling or adult stuff), would there be problems with bringing profits back into your bank account in your country? Of 'cos, the banking rules may vary from country to country but generally, how do these webmasters bring their money back? Or they just keep the money in overseas account? Thanks
If you are standing on US soil, you are under US law. Having your servers outside of the country won't exempt you from any laws you are breaking.
You'll need to wash the money and filter it through a legitimate company. Doing that is also highly illegal. To be honest, there are no real easy ways to get your cash from online casino sites without taking a big risk. If you cut out the IRS, you might as well cut off one of your hands. It usually catches up to you, unfortunately.
Usually they use casinos affiliate programs. They get referrals commissions to their casino/gambling accounts and redeem them to real money without braking rules.
Read my post again. If YOU--as in you, yourself, your physical body, your shell--are standing on USA soil, you are under USA law. If you want some proof of what I said, go read the news about gambling execs that have been arrested when they step foot on our soil. That will get you started down the right path.
Say, company A is a legitimate gambling operation incorporated and operating in country A, where gambling is legal. Person B is resident and citizen of country B, where gambling is illegal. Person B owns stock in company A. Is there a problem with that?
Technically yes. Ownership of stock is ownership of the company. Therefore, by purchasing the stock, the person is now part owner of the illegal business. Also, the business's sole mission is activity that's illegal--gambling in this case. The same principle can be applied to state law in Washington State. It's a class C felony to gambling online in that state. If you live there and are an affiliate of an online gambling site/company, you are helping to facilitate an illegal activity and are in violation of state law. Thus, you can be prosecuted under the law.
Hello Actually MarketJunktion is wrong in this issue, i have experience in this. Anyway i will not go deeper and explane my self, but you should consult a lawyer, he knows how to fix you up, legally.... AND NO IM NOT A LAWYER AND IM NOT GIVING LEGAL ADVISE, just pointing you in the right direction... Sir. Uuno Turhapuro
But wouldn't such casino related income (i.e. referral commissions from casino/gambling) be deemed the same as casino/gambling income by authorities?
It can be deemed as won from casino unless to encash your money from casino account is illegal. Who knows how do you get your money, from winning in poker or using affiliate, because money is sent to the same account. I think it can be used as a gap in law.
Yea probably. Don't read the news or law or anything. turhapuro, aside from vague claims. What proof can you offer us that you are right? I'm sure the gambling execs sitting it USA custody awaiting trial would love to know that the DOJ made a mistake in arresting them. To the OP, you should consult a lawyer always. This thread is a prime example of why you should never take forum advice. Like I said in my first post. Go read the news for your first clues. One exec was arrested when he stepped on USA soil for minutes to exchange flights on his way from one foreign country to another.