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US considers legalising online gambling
THE HARD UP US federal government is looking to raise cash by reversing its ban on Internet gambling.
Four years ago the US outlawed online gambling, forcing many gambling websites out of the country. However now the House Financial Services Committee has approved a bill that will effectively legalise online "non sports" gambling such as poker. It also will mean that the government will be able to tax winnings, with some saying it could bring in over $4 billion a year.
The bill, which still has a long way to go before it becomes law, is one of a number of initiatives Congress is looking at to generate cash for states that are struggling not to end up bankrupt like California. While the committee voted 41 to 22 in favour of the measure, it's not known yet if or when it might get to the floor of the House.
The initial ban was pushed by Republicans who were distraught at the prospect of giving citizens freedom to decide what is good or bad for them. One called the proposal "unfathomable" with another saying it would lead to "Open casinos in every home and every bedroom and every dorm room, and on every iPhone, every BlackBerry, every laptop." We're surprised he stopped there, perhaps banning the sale of playing cards would help?
It's no great surprise that online gambling websites are happy to hear that the law could be overturned with many hiring lobbyists to fight for the cause. However, it is likely that the revenues generated from taxation might outweigh grandstanding Republicans' hysterical claims that online gambling will lead to widespread moral bankruptcy in helping to get the ban revoked. µ
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It's not about the site operators, Dom; it's about the taxing jurisdictions (the states and the IRS). Consider the amount spent in the United States on illegal gaming annually, and how little of that is ever recovered (in the form of fines, penalties, seizures, etc.) If just ten percent of that can be directed into legal gaming, it could actually either help balance, if not balance, the books of a lot of states (and without raising already-high property/sales/income taxes). Also, this would save the government money, as that would be one less area they would have to spend manpower and money on. (Notice that it costs less to regulate the beer/wine/liquor industry today than it did during Prohibition; and that is despite inflation since Prohibition's repeal.) And that assume *no* US-based site operations whatsoever.
From a legal standpoint, current law is in violation of international law (the WTO, in fact, found for Antigua in a case it brought against the United States concerning the prohibition on Internet wagering); from that point of view, the United States is, in effect, stuck. It therefore has two options - ban all wagering (and three-fourth of the states have state lotteries; and over half of those participate in multi-jurisdiction lotteries, including Maryland, Virginia, and Washington, DC itself), or regulate and tax Internet/multi-jurisdiction wagering (which can actually be a benefit to the Treasury and the states, as an additional revenue source; even prospective bettors have no problem with that).
The hue and cry of hte moralists can't wish away the need foradditionaal revenue.
Is what the US will see if the legalize it. Most of the gambling sites will likely not be in the US.
If they find a way to limit it to US based only then this may work but impossible since that would violate international laws
My father (rest his soul) was a big man in the mental health field. One of the things that he shared with me is that when state allowed gambeling within 2 years the divorce rate when up 70%.
The only reason to legalize internet gambeling is to skim money no matter the cost. People can play poker at eachothers house and nobody cares. On the web, as much as I don't think people should be stopped from doing anything they want to, this is not a good thing for society. But I bet there will be some fat cats on the hill fattening they're wallet in this one, and that is the ONLY reason it would pass. How corrupt is our government: when she sits around the house, she literaly sits around the house.
They institutionalize hate and war against Muslims and they execute scores of prisoners in their penal systems in the name of Puritan, Christian Faith but on the other hand they allow Gay marriage and now are thinking of this online gambling!
What gives?