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Legalized Internet Gambling On The Horizon: Wanna Bet?

Bush stirred up a hornet’s nest when he signed the Unlawful Internet Gambling Act in 2006 and its effects are still being felt today. However, with the new president taking on the reins in January, new hopes are being raised. The American Gaming Association, in particular, has been aggressively trying to re-establish its position with the government. One result could be that Internet gambling can be reinstated pretty soon.

The Sun Times has this report:

The new sense of urgency comes as a presidential administration that appears friendlier toward the prospect of legalized Internet gambling prepares to take office.

To present a unified front, members of the association have to work through at least three viewpoints. Some casino companies support federal regulation of Internet gambling. Other members want that authority to rest with the states, like the regulation of non-tribal casinos. Still others, fearing competition from land-based casinos with online outlets, oppose regulation that would open the door to new rivals.

So what exactly have they been doing?

As a first step, the association has formed a working group to study bills that have cropped up in the past year.

Rep. Barney Frank, D-Mass., chairman of the House Committee on Financial Services, has introduced a bill to regulate online gambling sites by exempting licensed operators from the federal ban and creating protections against underage gambling, compulsive gambling, money laundering and fraud.
Other bills were introduced in Congress last year and this year to legalize online poker at the federal level.

In California, state Assemblyman Lloyd Levine has introduced a bill to legalize Internet poker for California residents.

So what is your bet going to be? I am going for legalized gambling. Let’s keep our fingers crossed!