Legalization of Internet gambling in U.S. progressescomment (0)
August 12, 2010
WASHINGTON — Congressional advocates for legalizing Internet gambling in the United States have made progress in their effort less than two months after rules implementing a 2006 law that cracked down on the practice finally took effect. The Financial Services Committee of the House of Representatives voted 41–22 to forward to the full chamber the Internet Gambling Regulation, Consumer Protection and Enforcement Act, H.R. 2267.
The bill would have the effect of rescinding the four-year-old Unlawful Internet Gambling Enforcement Act, which largely barred online gambling in the United States by requiring financial institutions to block credit card and other payments to Internet wagering businesses. Long-delayed regulations enforcing the law went into effect June 1. The new online gambling measure, sponsored by Rep. Barney Frank, D-Mass., would both legalize such wagering and authorize the federal government to regulate it.
Before the current restriction on Internet gambling was enacted, Americans were expected to pay $5.9 billion, about half of the $12 billion wagered worldwide on Internet gambling, to overseas online casinos in 2006, supporters of the ban said. Online gambling sites frequently act as fronts for money laundering, drug trafficking and financing for terrorists, foes said.