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Worldwide Economic Chaos Causes Lawmakers to Give Online Gambling a Second Look
The United States Government intervened with little fanfare or warning, in 2006, and enacted the Unlawful Internet Gambling Enforcement Act (UIGEA). This legislation outlawed Internet gambling and controlled how financial institutions handled monies to online gambling sites. Almost six years later and because of a very poor economic climate lawmakers are giving online gambling a second look. The UIGEA Rethinking Its Position With Online Gambling InstitutionsGiven the tough economic times the US Congress is now rethinking the UIGEA so that Internet gambling would be a source of tax revenue but would include a tough regulatory venue. A recent investication indicates the U.S. federal government could bring in extra revenue of US $42 billion from Internet gambling taxes over the next ten years. It's going to be really tough to ignore these types of large tax revenues in an economic downturn. It has long been estimated that the internet gambling industry is a multi-bilion dollar affair. But the US is notorious for making negative financial decisions in order to control its citizens. There is plenty of evidence to suggest the 2006 law only hurt the US economy. Gamblers Will Always Find a Way to GambleIf gamblers want to gamble you won't be able to stop them, they will always find a way. Just look around and it is easy to see the proliferation of gambling in our daily lives. It is everywhere. Just take a look at all of the sporting events like football, baseball, basketball, hockey, horseracing, poker rooms and the list goes on and on. Without people's desire to gamble, cities like Las Vegas would not be the sin city capitals of the world. Gambling on the Internet is just another natural way to implement this type of activity. So it should be no surprise that outlawing Internet gambling in the U.S. has done nothing but to hurt its own citizens by funneling those revenues to outside interest. Just another lost revenue source. While US publicly traded Internet gambling companies hit rock bottom, most Internet gambling sites simply moved out of the U.S. and provided links to new offshore sites where online gambling is not regulated and welcomes the US gambler with open arms. In fact this move by the US proved to help those non regulated venues become worse perpetrators than they originally were. Now the out of country casinos are tempted to take great advantage of this situation. If the website fails to pay a winner, that winner cannot help from the courts in the U.S. to collect, since online gambling is illegal. This leaves the US gambler between a rock and a hard place to fend for themselves. If this happens to them any legal persuit to make things right becomes cost prohibited to go to that website country to fight illegal actions -- not to mention payment of litigation fees once they get there. The US gambler has adjusted to this situation. Apparently, neither the UIGEA nor other federal laws explicitly prohibit Internet poker because it is a game of skill. Internet casinos promote poker as a game of skill rather than a game of chance. Unless the US specifically tries to outlaw each game, the government cannot stop them. As a result, Internet poker has grown significantly especially with the help of the cable network's glorifications. This of course doesn't set well with the US anti-gambling forces. Taking Control
If the US does relent and repeal the current laws, you can bet it will come with a lot of regulations and control. And rightfully so. There should be laws to protect its citizens. That is one of the main responsibilities of government. It's sad that money (the need of it by the government) is the controlling factor that will bring things full circle. But that is par for US legislators.
If this sounds anti-government, you are totally wrong for thinking that. Unfortunately, it is the nature of the beast along with its track record to prove this writer correct. So if the law does by chance get repealed, legalization of online gambling won't happen over night. Most probably the land base casinos will expand into an internet roll since they are already ingaged in mountains of regulations and have the staffs available to wade through the paper animal in order to profit. And the tug of war for the gambling dollar will once again be pulled from across the seas back into US. But not to worry. The US government will most probably be compelled to help stabalize the offshore companies new financial losses by giving them some of our money anyway in some type of aid or loans. It's just the nature of the beast---really! |
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| Caution: Although the NEWS Media has reported in December 2011 that gambling online in the United States will soon be legalized, you should check in your own State or Juristiction on the laws and statutes governing these casino games. Site content - copyright © 2011. |