What is the name of your state? WV
I have been considering starting my own internet gambling site where I allow users to gamble against one another, and possibly in some cases against me, "The House".
This raises several questions, some of which fit here, while others fit elsewhere. I'll just throw them out there and see if anyone from this forum can answer rather than cross-posting (or I'll seperate my questions if I receive no answers here).
Question 1:
In setting up this sole proprietership, do I need licenses, etc? Or can I simply take the site live and start taking paypal cash?
Question 2:
Does server location matter? Do I need a server located in a place where gambling is legal, or does the internet count as a gambling-legal place (like a riverboat, etc).
Question 3:
Is it possible or necessary to write a disclaimer, informing all visitors that in the event that they should bet all their money and lose it all that I am not responsible for said losses, or is that assumed by the nature of the site?
Question 4:
What kind of accounting will I be responsible for come tax time? Will I just be able to fill out a form whatever whatever C and report my earnings from the site and be done with it, or is more documentation required?
Question 5:
Is there a mandatory fairness inspection process for gambling websites? It would be easy to make a craps table that always crapped out when a certain amount of money was on the table. I assume this would be highly illegal, but, there's always the accidental chance that in coding a card-game that one makes it impossible to draw a given card (messing up an array, etc)... this offset could be seen as unfair, but, should this accident be made, would I be held responsible/sued? Could I disclaimer this, as well, with a "To the best of our knowledge all games are as fair as their real life equivalents"?
Question 6:
Is there a legal way to set up the site so that a disputed roll/draw/loss could be ignored as not to get bogged down in legal issues? I ask this for the situation where someone presses "roll dice" and the server gets the request, but the page does not refresh because their internet service went out. In such an event, the server decides the outcome, tries to display it, and since the person lost, takes their money (or gives them their credit).
To what extent am I liable to ensure error-free gameplay when money is involved? Can I also disclaimer that?
Anyway, thanks for any informed replies you can muster!
-JX
I have been considering starting my own internet gambling site where I allow users to gamble against one another, and possibly in some cases against me, "The House".
This raises several questions, some of which fit here, while others fit elsewhere. I'll just throw them out there and see if anyone from this forum can answer rather than cross-posting (or I'll seperate my questions if I receive no answers here).
Question 1:
In setting up this sole proprietership, do I need licenses, etc? Or can I simply take the site live and start taking paypal cash?
Question 2:
Does server location matter? Do I need a server located in a place where gambling is legal, or does the internet count as a gambling-legal place (like a riverboat, etc).
Question 3:
Is it possible or necessary to write a disclaimer, informing all visitors that in the event that they should bet all their money and lose it all that I am not responsible for said losses, or is that assumed by the nature of the site?
Question 4:
What kind of accounting will I be responsible for come tax time? Will I just be able to fill out a form whatever whatever C and report my earnings from the site and be done with it, or is more documentation required?
Question 5:
Is there a mandatory fairness inspection process for gambling websites? It would be easy to make a craps table that always crapped out when a certain amount of money was on the table. I assume this would be highly illegal, but, there's always the accidental chance that in coding a card-game that one makes it impossible to draw a given card (messing up an array, etc)... this offset could be seen as unfair, but, should this accident be made, would I be held responsible/sued? Could I disclaimer this, as well, with a "To the best of our knowledge all games are as fair as their real life equivalents"?
Question 6:
Is there a legal way to set up the site so that a disputed roll/draw/loss could be ignored as not to get bogged down in legal issues? I ask this for the situation where someone presses "roll dice" and the server gets the request, but the page does not refresh because their internet service went out. In such an event, the server decides the outcome, tries to display it, and since the person lost, takes their money (or gives them their credit).
To what extent am I liable to ensure error-free gameplay when money is involved? Can I also disclaimer that?
Anyway, thanks for any informed replies you can muster!
-JX