I am not sure if this has been posted as I have not seen it yet this is the definitions of the new bill signed by our wonderful pres. :mad:

`Sec. 5362. Definitions

`In this subchapter, the following definitions shall apply:

`(1) BET OR WAGER- The term `bet or wager'--

`(A) means the staking or risking by any person of something of value upon the outcome of a contest of others, a sporting event, or a game subject to chance, upon an agreement or understanding that the person or another person will receive something of value in the event of a certain outcome;

`(B) includes the purchase of a chance or opportunity to win a lottery or other prize (which opportunity to win is predominantly subject to chance);

`(C) includes any scheme of a type described in section 3702 of title 28;

`(D) includes any instructions or information pertaining to the establishment or movement of funds by the bettor or customer in, to, or from an account with the business of betting or wagering; and

`(E) does not include--

`(i) any activity governed by the securities laws (as that term is defined in section 3(a)(47) of the Securities Exchange Act of 1934 for the purchase or sale of securities (as that term is defined in section 3(a)(10) of that Act);

`(ii) any transaction conducted on or subject to the rules of a registered entity or exempt board of trade under the Commodity Exchange Act;

`(iii) any over-the-counter derivative instrument;

`(iv) any other transaction that--

`(I) is excluded or exempt from regulation under the Commodity Exchange Act; or

`(II) is exempt from State gaming or bucket shop laws under section 12(e) of the Commodity Exchange Act or section 28(a) of the Securities Exchange Act of 1934;

`(v) any contract of indemnity or guarantee;

`(vi) any contract for insurance;

`(vii) any deposit or other transaction with an insured depository institution; or

`(viii) any participation in a simulation sports game, an educational game, or a contest, that--

`(I) is not dependent solely on the outcome of any single sporting event or nonparticipant's singular individual performance in any single sporting event;

`(II) has an outcome that reflects the relative knowledge of the participants, or their skill at physical reaction or physical manipulation (but not chance), and, in the case of a simulation sports game, has an outcome that is determined predominantly by accumulated statistical results of sporting events; and

`(III) offers a prize or award to a participant that is established in advance of the game or contest and is not determined by the number of participants or the amount of any fees paid by those participants.

`(2) BUSINESS OF BETTING OR WAGERING- The term `business of betting or wagering' does not include a financial transaction provider, or any interactive computer service or telecommunications service.

`(3) DESIGNATED PAYMENT SYSTEM- The term `designated payment system' means any system utilized by a financial transaction provider that the Secretary, in consultation with the Board of Governors of the Federal Reserve System and the Attorney General, determines, by regulation or order, could be utilized in connection with, or to facilitate, any restricted transaction.

`(4) FINANCIAL TRANSACTION PROVIDER- The term `financial transaction provider' means a creditor, credit card issuer, financial institution, operator of a terminal at which an electronic fund transfer may be initiated, money transmitting business, or international, national, regional, or local network utilized to effect a credit transaction, electronic fund transfer, stored value product transaction, or money transmitting service, or a participant in such network, or other participant in a designated payment system.

`(5) INTERNET- The term `Internet' means the international computer network of interoperable packet switched data networks.

`(6) INTERACTIVE COMPUTER SERVICE- The term `interactive computer service' has the same meaning as in section 230(f) of the Communications Act of 1934.

`(7) RESTRICTED TRANSACTION- The term `restricted transaction' means any transaction or transmittal involving any credit, funds, instrument, or proceeds described in any paragraph of section 5363 which the recipient is prohibited from accepting under section 5363.

`(8) SECRETARY- The term `Secretary' means the Secretary of the Treasury.

`(9) UNLAWFUL INTERNET GAMBLING-

`(A) IN GENERAL- The term `unlawful Internet gambling' means to place, receive, or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the Internet where such bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received, or otherwise made.

`(B) INTRASTATE TRANSACTIONS- The term `unlawful Internet gambling' shall not include placing, receiving, or otherwise transmitting a bet or wager where--

`(i) the bet or wager is initiated and received or otherwise made exclusively within a single State;

`(ii) the bet or wager and the method by which the bet or wager is initiated and received or otherwise made is expressly authorized by and placed in accordance with the laws of such State, and the State law or regulations include--

`(I) age and location verification requirements reasonably designed to block access to minors and persons located out of such State; and

`(II) appropriate data security standards to prevent unauthorized access by any person whose age and current location has not been verified in accordance with such State's law or regulations; and

`(iii) the bet or wager does not violate any provision of the--

`(I) Interstate Horseracing Act;

`(II) Professional and Amateur Sports Protection Act;

`(III) Gambling Devices Transportation Act; or

`(IV) Indian Gaming Regulatory Act.

`(C) INTRATRIBAL TRANSACTIONS- The term `unlawful Internet gambling' shall not include placing, receiving, or otherwise transmitting a bet or wager where--

`(i) the bet or wager is initiated and received or otherwise made exclusively--

`(I) within the Indian lands of a single Indian tribe (as those terms are defined by the Indian Gaming Regulatory Act); or

`(II) between the Indian lands of 2 or more Indian tribes to the extent that intertribal gaming is authorized by the Indian Gaming Regulatory Act;

`(ii) the bet or wager and the method by which the bet or wager is initiated and received or otherwise made is expressly authorized by and complies with the requirements of--

`(I) the applicable tribal ordinance or resolution approved by the Chairman of the National Indian Gaming Commission; and

`(II) with respect to class III gaming, the applicable Tribal-State Compact;

`(iii) the applicable tribal ordinance or resolution or Tribal-State compact includes--

`(I) age and location verification requirements reasonably designed to block access to minors and persons located out of the applicable Tribal lands; and

`(II) appropriate data security standards to prevent unauthorized access by any person whose age and current location has not been verified in accordance with the applicable tribal ordinance or resolution or Tribal-State Compact; and

`(iv) the bet or wager does not violate any provision of the--

`(I) Interstate Horseracing Act;

`(II) the Professional and Amateur Sports Protection Act;

`(III) the Gambling Devices Transportation Act; or

`(IV) the Indian Gaming Regulatory Act.

`(D) INTERSTATE HORSERACING- The term `unlawful Internet gambling' shall not include placing, receiving, or otherwise transmitting a bet or wager that is governed by and complies with the Interstate Horseracing Act of 1978.

`(E) INTERMEDIATE ROUTING- The intermediate routing of electronic data shall not determine the location or locations in which a bet or wager is initiated, received, or otherwise made.

`(10) OTHER TERMS-

`(A) CREDIT; CREDITOR; CREDIT CARD; AND CARD ISSUER- The terms `credit', `creditor', `credit card', and `card issuer' have the same meanings as in section 103 of the Truth in Lending Act.

`(B) ELECTRONIC FUND TRANSFER- The term `electronic fund transfer'--

`(i) has the same meaning as in section 903 of the Electronic Fund Transfer Act, except that such term includes transfers that would otherwise be excluded under section 903(6)(E) of that Act; and

`(ii) includes any fund transfer covered by Article 4A of the Uniform Commercial Code, as in effect in any State.

`(C) FINANCIAL INSTITUTION- The term `financial institution' has the same meaning as in section 903 of the Electronic Fund Transfer Act, except that such term does not include a casino, sports book, or other business at or through which bets or wagers may be placed or received.

`(D) INSURED DEPOSITORY INSTITUTION- The term `insured depository institution'--

`(i) has the same meaning as in section 3 of the Federal Deposit Insurance Act; and

`(ii) includes an insured credit union (as defined in section 101 of the Federal Credit Union Act).

`(E) MONEY TRANSMITTING BUSINESS AND MONEY TRANSMITTING SERVICE- The terms `money transmitting business' and `money transmitting service' have the same meanings as in section 5330(d) (determined without regard to any regulations issued by the Secretary thereunder).



More infor on this bill for those who have not seen this yet can be found at
http://thomas.loc.gov/cgi-bin/query/.../~c109nfP3Yw::