Hi
I just got this off the web, very interesting, I sure hope it happens
Read Below.
Fans of Internet-based casino and card games could be in for a big win in 2011.
Ever since a 2006 law effectively outlawed online gambling, they’ve been marginalized, either turning to pretend-money alternatives, quitting altogether, or relying on dicey workarounds to avoid the long arm of the law. But rumors of an upcoming bipartisan effort to legalize the industry -- and bring it under the watchful eye of the federal government -- have given online gamblers new hope.
Strictly speaking, online gambling isn’t actually illegal under federal law, although several states (such as New York, Washington, and Nevada) have banned it for their residents. Instead, the 2006 federal law (bizarrely shoehorned into a bill focusing on tightening security at U.S. seaports) prevents businesses from accepting credit cards, wire transfers, checks, and other transactions if they were to be used in “unlawful Internet gambling.”
If you recall much about the 1920s chapter of your history book, you won’t be surprised to hear that such a prohibition didn’t stop online gambling. Some of the more legitimate sites did shut down, and others stopped accepting payments from inside the U.S., but gamblers quickly found alternatives. Like, say, passing funds through fly-by-night, overseas e-payment companies -- a hazardous solution.
Broken and ineffective, the law hasn’t entirely escaped the attention of politicians -- notably Barney Frank, Democratic House Representative for Massachusetts, who’s repeatedly tried to legalize (and, naturally, tax) online gambling over the last few years. Former Senate Majority Leader Harry Reid was working to slip a bill through in December’s lame-duck session, too, but to no avail.
It’s easy to see why they keep trying. Federal and state governments, battered by recession and beset by public demands for simultaneous cuts in taxes and budget deficits, are looking desperately for new sources of revenue that don’t involve the expenditure of significant political capital. What could be softer than slipping a few percent onto online poker winnings?
Cash-strapped or not, past attempts have fizzled in the face of stiff opposition from socially conservative lawmakers. Alabama Republican Spencer Bachus has been a key opponent, calling the legalization of Internet casinos a “gamble that simply is not worth taking” in a 2009 article and alleging it would lead to addiction, bankruptcy, and crime. And after last November’s election handed control of both houses to the Republican party, getting any legislation passed will take some serious cross-party cooperation.
All that has online gambling fans looking to the GOP for help -- and they’re finding it at the door of California representative John Campbell, a Republican of a rather more libertarian bent than Bachus. Campbell is reportedly preparing to introduce a new bill later this year along the lines of Frank’s most recent effort, which successfully passed the House Financial Services Committee in July. Campbell is said to have Frank on board as a co-sponsor. Could online gambling’s fans -- and the businesses that are ready to serve them -- finally be staring at a winning hand?
Their first hurdle’s going to be a high one. Frank’s last bill indeed cleared the Finance Committee without undue hardship, but the aftershocks of November’s elections included some changes in that committee’s makeup. One major change, in fact: it has a new chairman.
As of last month, out went gambling-friendly Barney Frank -- and in came none other than Spencer Bachus. Bipartisan or not, any bill that relaxes restrictions on Internet gambling is likely to have a harder time getting past the committee stage this year.
Even if it does, there’s still a long road between there and a vote. But above all else, the new Congress has a clear mandate from voters: reduce the deficit. Anything that produces extra revenue -- and has the potential to create jobs for out-of-work Americans -- is likely to be on the table. Campbell is expected to show his hand in the next few weeks; time will tell whether he’ll come up trumps for online gambling’s many fans.
pevangel
Edited by moderator Wednesday, August 20, 2014 3:03:46 AM(UTC)
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