Online Gambling in a current process to be legalized in USA

Online Gambling in a current process to be legalized in the USA
http://www.articlesnatch.com/Article/Online-Gambling-in-a-current-process-to-be-legalized-in-the-USA/611418

This article starts to showcase a current process to attempt to legalize online gambling in the USA given the events from late last year until the date.

It all starts when former president Bush enforces banks in the USA to reject any operation having to do with gambling. This also includes credit card usage. This was accepted by his government and passed right before he left office. Current President Obama steps in (he is known for his poker abilities as he likes to play cards) with a different, progressive government if you will, and the industry accepts him with wide open arms as rumors mount in terms for his administration to reject UIGEA and approve online gambling sometime within three years. This combined with numerous economic factors that tend for the opening of this industry as brick and mortar casinos go bankrupt, operations and activity drops as less tourists head to Las Vegas to play.

Studies come up by Price Waterhouse Coopers stating that the Government will benefit in the excess of 50 billion dollars if they regulate the industry instead of prohibiting it over the next decade (2010 – 2020). Supporters of this statement come out stating that by prohibiting the industry, the government is directly funding terrorism as Americans who wish to gamble can easily bypass the prohibition and are actively doing so by using foreign banks and sophisticated internet financial tools. The main problem lies in Al Qaeda owned casinos among other terrorist groups accepting US players when other European established brands don’t. Americans head to these casinos, place bets, and lose money as these casinos are rigged, and therefore, fund terrorist organizations. By legalizing the industry, a major growth in jobs will be exerted alongside the billions in revenue.

Organizations like the WTO by some European members and others like IMEGA (The Interactive Media Entertainment & Gaming Association) challenge the current prohibition. The Europeans state that the USA is not following trade laws and therefore should immediately unban European online companies from operating in the USA. IMEGA states that congress cannot state what is lawful and unlawful when it comes to actually enforcing credit card companies and banks what to do. States like Minnesota and Illinois have banned some websites in the state, and online lottery transactions respectively, while others such as California have made attempts to legalize branches of the industry such as Poker.
Recently, financial services committee chairman, Barney Frank, has introduced ¨The Internet Gambling Regulation Consumer Protection & Enforcement Act¨ in order to end the ban and start regulating and taxing the industry. Stocks of major gaming companies such as PartyGaming have climbed dramatically. This one being the latest in a major sequence of events in order to try to legalize the industry after the UIGEA implementation and the bank freeze imposed by Mr. Bush.

In conclusion, online gambling was expected by many analysts to become legal again after three years of this administration, but it may become legal before given the new entrance of this bill alongside the popular study where the government could benefit in troubled times while also creating jobs. If the bill does not pass, there is hope on the state level as some analysts believe this will be the key element of legalization. Once California passes online poker, more will follow, and eventually, many if not all will pass the legalization of the industry.

Posted:22.04.2010, 06:25 (No subject)

I hope online gambling gets legalized in USA. I have heard that many people are just holding their breath for that. Online gambling is thrilling and exciting and I really feel sad for the people who can't enjoy it. I don't understand why countries need to ban it. It is totally harmless and really entertaining.

Posted:22.04.2010, 07:45 (No subject)

Posted:24.06.2010, 00:47 (No subject)

Although some states in the US now legalized online poker, i guess US will now come our way to legalize online gambling.

Posted:28.07.2010, 22:01 (No subject)

Looks like this has taken a big step forward:

http://online.wsj.com/article/BT-CO-20100728-721058.html