Even though online gambling is becoming a multimillion dollar a year business, successful through out Europe and Asia, and becoming more popular by the day, it is not an industry supported by the United States. Lawmakers have been afraid of the pitfalls of allowing legalized online gambling. They claim that they are trying to protect the consumer from the obvious crimes and scams that happen with most internet enterprises. Identity theft and fraud are much easier online and online casinos can be a prime target. Lawmakers also want to protect gamblers from themselves. Compulsive gambling can be as destructive as substance or alcohol abuse. Of course, some feel that lawmakers are also protecting their constituents. Who needs to go to Atlantic City when I can gamble in my living room?
However, steps are being taken to introduce bills in the federal government that would legalize online gambling. The United States has a history of learning that prohibitions don’t work. They have learned that controlling and regulating a controversial activity is a more effective way of protecting its citizens than banning it. They have also learned that tax revenue can be generated from these activities. Representative Barney Frank of Massachusetts has been one of the industry’s biggest supporters. He introduced the Internet Gambling Regulation, Consumer Protection and Enforcement Act last year. Now he has some help.
Two senators co-sponsored the senate counterpart to Rep. Frank’s bill. Senators Ron Wyden, a Democrat from Oregon, and Republican Judd Gregg of New Hampshire introduced the Bipartisan Tax Fairness and Simplification Act of 2010. This proposed legislation would help formulate ways for the federal government to legalize and, more importantly, regulate online casino and gambling activities within the United States.
The bills proposed in both house of the U.S. Congress would not only generate billions of dollars in revenue, (which maybe could help fund some form of health care) but would create a means to patrol the online gambling industry. The bill, though, would still keep the ban on sports betting.
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