And what will You do When Online Gambling Is Illegal?

As you might have heard, Congress has taken a large step toward banning most online gambling.

In place of wanting to outlaw gambling sites, which would be impossible to do since almost all are outside the US, they are attempting to make processing or handling payments illegal. The effect, gamblers wouldn’t have the ability to use bank cards, debit cards, or even make direct transfers from US bank accounts to fund their accounts.

Supporters of the ban claim the Internet’s widespread availability makes it too simple to gamble and creates betting addictions and financial problems.

Internet gambling sites are estimated to consume $12 billion annually. Half this $12 billion arises from gamblers in the US. Critics with this proposed law เกมยิงปลาฟรีเครดิต argued that regulating the industry and collecting taxes will be more effective than outlawing it. Prohibition didn’t work for alcohol. It won’t work for gambling.

The government had a chance to regulate online gambling and make the most of the tax revenue. A current study estimates Internet poker alone, if regulated and taxed, could net the federal government $3.3 billion each year.

But instead they’ve turned the financial institutions into the police. In addition they propose to increase the maximum penalty for violations from two to five years in prison.

The two Republican representatives who sponsored the bill, Bob Goodlatte of Virginia and Jim Leach of Iowa managed to slide in exemptions for the horse racing industry and state lotteries. Not really fair allowing online lotteries and Internet betting on horse racing while cracking down on other types of sports betting, casino games and card games like poker.

In lots of countries the federal government has chosen to regulate online gambling as opposed to ban it. It’s far more practical and besides, it’s a form of recreation for many people.

Fortunately there are still some thinking congressmen in Washington who have doubts about the bill’s effectiveness and have gone so far as to call it a feel-good piece of legislation. A bill more about news-making than lawmaking.

A more effective approach would be to allow the industry to come to the United States and regulate it. This is a situation everyone who’s or has gambled online would want to keep an eye on.

Leave a comment

Your email address will not be published. Required fields are marked *