Page:United States Statutes at Large Volume 120.djvu/1984

 PUBLIC LAW 109–347—OCT. 13, 2006

120 STAT. 1953

prohibitions or regulations on the Internet, especially where such gambling crosses State or national borders. ‘‘(b) RULE OF CONSTRUCTION.—No provision of this subchapter shall be construed as altering, limiting, or extending any Federal or State law or Tribal-State compact prohibiting, permitting, or regulating gambling within the United States. ‘‘§ 5362. Definitions ‘‘In this subchapter: ‘‘(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; ‘‘(viii) participation in any game or contest in which participants do not stake or risk anything of value other than— ‘‘(I) personal efforts of the participants in playing the game or contest or obtaining access to the Internet; or ‘‘(II) points or credits that the sponsor of the game or contest provides to participants free of charge and that can be used or redeemed only for participation in games or contests offered by the sponsor; or

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