Online Gambling in the US – A New Chance

The biggest potential change would be in the United States, where Representative Barney Frank, Democrat of Massachusetts, is expected to introduce legislation within days, aimed at overturning the Unlawful Internet Gambling Enforcement Act. “He supports it and wants to move forward on it,” said Steve Adamske, communications director for the House Financial Services Committee, of which Mr. Frank is chairman. “There is a lot of gambling where no revenue coming in to the governments,” said Gavin Kelleher researcher at H2 Gambling Capital in Ireland.

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Mr. Frank failed to do so once before, in 2007 but advocates of liberalization think they might get a friendlier hearing in Washington this time tektok slot . President Barack Obama, boasted of his poker prowess during the election campaign and the Democrats, who are seen as less hostile to Internet gambling than the Republicans, have tightened their grip on Congress.

Analysts say that may be getting a little bit ahead of the game. Opponents of a repeal, including the Christian Coalition of America and the National Football League, have vowed to fight any effort to end the ban. Michele Combs, a spokeswoman for the Christian Coalition, said the group was gearing up for a massive campaign of letter-writing and lobbying to try to prevent any loosening of the law.

U.S. sports leagues, meanwhile, worry that the ease of online betting increases the chances of game-fixing. Even the most bullish advocates of online casino games and gambling acknowledge that Internet sports betting – as opposed to poker or casino games – is highly unlikely to be legalized. “There’s now a better chance for some sort of gaming legislation to be approved,” said Nick.

Batram, an analyst at KBC Peel Hunt, a brokerage firm in London. “But it took longer than expected to put anti-gaming legislation in place so maybe it will take longer than expected to remove it.”

Since the 2006 law was passed, North America has been passed by Europe and Asia, according to figures from H2 Gambling Capital. The law makes it illegal for financial institutions to handle payments to online gambling and casino games [http://www.casinogamearena.com] sites. Some people using overseas payment processors to ensure that online gambling remains an excellent business.

Now analysts say one possibility for European companies should the ban be lifted, would be to form partnerships with American casino operators. That would allow the European companies like PartyGaming to share their online expertise. Operating alone, they might struggle to obtain licenses, given their history of run-ins with U.S. law enforcement, analysts said.

So far, Las Vegas executives have maintained a cautious stance about legalization of online gambling. Steve Wynn, chief executive of Wynn Resorts, said in an e-mail message that he thought it would be “impossible to regulate and even though it would be a benefit to our company, we are strongly opposed,” he said.

Several other online gambling companies whose shares are traded in London, including 888 Holdings and Sportingbet, are still in talks with the U.S. Justice Department. Analysts expect them, along with companies like Bwin International, whose stock is traded in Vienna, to be involved in a round of consolidation in the industry – along with a possible eventual move back into the U.S..

In light of the recent events surrounding online gambling in America, whether it is casino poker sports betting or bingo we are again being asked the million dollar question, is it illegal for me to gamble online if I live in the USA?

The answer we give is the same as it has always been although now our position has been backed up by the U.S. Government. The Bill that supposedly made it illegal in 2006 did not in fact make it illegal for you to play at all but instead made it it illegal for America banks to process gaming transactions. This in itself was ineffective as many of the gambling companies did not use American banks anyway.

It absolutely did not make it an offense for an individual to play at an online casino or poker site. Given this glaring hole in the legislation even the banks fought back claiming they should not be put in the position of policing online gambling. At the same time Sen. Barney Frank was preparing a bill to make the ban obsolete and instead do the right thing and regulate the online gambling industry.

Tuesday 1st December is the day the UIEGA Gambling ban was to come into force. This was to be 2 days before Sen Barney Frank was to have his Regulation Bill heard by committee on Thursday the 3rd December.

On Friday 27th November however something happened, the U.S. Government postponed the enforcement of the Gambling Ban by six months until the 1st June 2010. This can only to be to allow the correct approach of regulation and allowing Barney Franks bill to be sent through the channels.

To look at it pragmatically everyone involved knows that online gambling in America will be legalized, regulated and taxed within the next 18 months so why put any further pressure on an already stretched banking system for something that will be overturned in such a short time? It appears that common sense has prevailed and the road is now open for the legalization of online gambling in the United States of America.

This of course was the only course of action open to the U.S. Government and was inevitable. The question this leaves is where do the big Las Vegas casinos go from here? As we have previously written the likes of MGM and Las Vegas Sands have not been exactly proactive in their move towards readiness for the coming legalization.