Sorry for bringing up an old post but I'm curious if you still hold this opinion that investing in sdice is risky from a legal sense. Do you still think that as an investor in sidice you risk being prosecuted?
I do, though as a practical matter, this risk is very small. 18 USC 1955.Quote
What do you think of Erik's argumentation JoelKatz?
I think it goes to the level of risk, not the legality. It comes down to an interpretation of 18 USC 1955(b)(1)(i), whether Satoshi Dice "is a violation of the law of a State or political subdivision in which it is conducted". That will come down to what locations are the ones "in which it is conducted" and whether it violates any laws of that subdivision. I can't specifically cite any subdivision in which it would be considered conducted nor any specific laws it violates, but if there are any, then anyone who "owns all or part of" the business is in violation of US law.Also see 31 USC 5362(10)(A), "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". While this doesn't apply to owners directly, like most Federal crimes, you can be charged with aiding, abetting, or conspiring to commit violations, being an accomplice to a violation, and so on.
As a completely passive owner, though, I would think the risk would be very small.
Thank you so much JoelKatz for your critical view. I appreciate it highly.
