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If I have a Gaming License from my state would I be allowed to operate a casino in Second Life?


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Rolig is right. 

However... there are some gray areas. Media on a prim has made some interesting gray space. Have your attorney contact the Lab's attorney. From there your attorney will have to make a call based on the ToS wording and conversations with the Lab. If he disagrees with the Lab's attorney and you proceed, the Lab will likely shut you down and you would have to take it to court.

The item people quibble over is: '... to wager in games in the Second Life® environment ...' Is a web site linked to via media within SL really within SL? The Lab is likely to say yes. But, many would say no. There is a technical and syntactic argument to be made for where the wager is actually made. All the matters is what the judge says that gets your case. If you own a judge, you're prolly good to go.

The end result would be the Lab would change the ToS to better define 'environment' and block any path around your attorney is bright enough to think up.

The expensive answer is may be. The practical answer is NO.

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