Online Casino Transfer: News - UIGEA Deemed Ineffective

02/26/2010		Online Casino Style: News UIGEA Deemed Ineffective
Home History Games News Dictionary		An article published this week by the information technology magazine Network World took the time to acutely recap the developments of potential legalization in the US, with the battle being led by Congressman Barney Frank. While the Unlawful Internet Gambling Enforcement Act has yet to be repealed, the bills set forth by Frank and his co-signors would reverse the ban enforce on internet casinos by the 2006 law, and build a regulatory framework for the liberalization of the American online gambling market. One of the key points of the article is the analysis of just how ineffectual the UIGEA actually is, doing little if anything to prohibit the access and use of online casinos by American residents. US citizens alone illegally participated in offshore online casinos for $8 billion of action, a number equivalent to every bettor spending only $500 a year. An estimated 16 million players gamble online, meaning that one in four persons over 21 years of age frequent online gambling services, however conservatively. Yet another supporting point is the answer to a question presented by the US News and World Report, which asked in an online poll to Americans the simple question “Should online gambling be legalized?” An overwhelming 91 percent of respondents said, “Yes.” The Network World article, penned by Mark Gibbs, continues, comprehensively examining the arguments presented by the industry’s opponents, such as the discrimination against internet casinos despite the continued success of tribal casinos and state lotteries in the same nation. In the end, it all boils down to money, Gibbs opines. While tribal casinos and state lotteries make their respective governments around $18 billion annually, online gambling would generate as much as $42 billion in taxes over the next ten years, should legalization be achieved. “I can't find any reasonable moral or ethical grounds to oppose it and, as someone once said, gambling is a tax on people who are bad at math,” writes Gibbs. “In fact, I find it surprising that in the land of the brave and the home of the free anyone would want to tell you what you can and can't do with your money. After all, if it's good enough for the states and good enough for Indian tribes, then why wouldn't it be good enough for Internet users?"

02/26/2010

Online Casino Style: News
UIGEA Deemed Ineffective

An article published this week by the information technology magazine Network World took the time to acutely recap the developments of potential legalization in the US, with the battle being led by Congressman Barney Frank. While the Unlawful Internet Gambling Enforcement Act has yet to be repealed, the bills set forth by Frank and his co-signors would reverse the ban enforce on internet casinos by the 2006 law, and build a regulatory framework for the liberalization of the American online gambling market.

One of the key points of the article is the analysis of just how ineffectual the UIGEA actually is, doing little if anything to prohibit the access and use of online casinos by American residents. US citizens alone illegally participated in offshore online casinos for $8 billion of action, a number equivalent to every bettor spending only $500 a year. An estimated 16 million players gamble online, meaning that one in four persons over 21 years of age frequent online gambling services, however conservatively.

Yet another supporting point is the answer to a question presented by the US News and World Report, which asked in an online poll to Americans the simple question “Should online gambling be legalized?” An overwhelming 91 percent of respondents said, “Yes.” The Network World article, penned by Mark Gibbs, continues, comprehensively examining the arguments presented by the industry’s opponents, such as the discrimination against internet casinos despite the continued success of tribal casinos and state lotteries in the same nation.

In the end, it all boils down to money, Gibbs opines. While tribal casinos and state lotteries make their respective governments around $18 billion annually, online gambling would generate as much as $42 billion in taxes over the next ten years, should legalization be achieved. “I can't find any reasonable moral or ethical grounds to oppose it and, as someone once said, gambling is a tax on people who are bad at math,” writes Gibbs. “In fact, I find it surprising that in the land of the brave and the home of the free anyone would want to tell you what you can and can't do with your money. After all, if it's good enough for the states and good enough for Indian tribes, then why wouldn't it be good enough for Internet users?"