According to the OnlineCasinoReports the FBI has began investigating the NCAA March Madness pools that Facebook hosts.
A violation of interstate wagering laws, the FBI calls it. That of course is against the controversial UIGEA law passed in late 2006, just before Facebook made its great leap and introduced such applications as the betting pools. Entry fees and prizes are two major components of online gambling.
In FBI spokesman Ross Rice words: “It is fair to say this raises questions. There could be a violation if there’s a payout and if the operators take a cut.”
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