Thursday, July 23, 2020

What is considered illegal gambling?

Antonia Quinnett: Usually it crosses the line into illegal gambling when the house gets a cut of the pot. If you're just playing poker with your friends you're ok, but if you're doing it at your house and you keep 10% of every pot it's illegal.

Coleman Petropoulos: The key word here is "profit". The law varies from state to state, and most states have laws against for-profit gambling business.A church is non-profit, so bingo at a fund raiser is legal. Also, a bet between 2 friends is not a business, and therfore is legal.Stocks are not considered gambling since the buyer owns the stock (although at times it may seem ss risky as gampling!)I'm not a lawyer, but this is how I understand it....Show more

Lionel Tanen: Sounds interested

Rena Pepe: 1

No comments:

Post a Comment