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USA Online GamblingMany people thought that USA online gambling would suffer because of the law that was passed in 2006 that gave the government the right to go after banks that process payments for online casinos , a large amount of online casinos just stopped taking transactions from Americans online. Some states are more strict as far as online gambling then others and these states include New Jersey, Nevada, Washington, New York, Wisconsin, Illinois, Indiana, Louisiana, Oregon, South Dakota and Michigan. While it has been a gray area as to whether casinos can recieve money for gambling or not , the USA online gambling market was initially hurt by the 2006 law and many publicly trading companies that accepted payment from americans for online gambling purposes shut down this side of their service, there are still quite a few online casinos that are still accepting money from american bettors. The USA online gambling market still generates over 100 billion dollars every year, so as you can see this law did not prevent Americans from placing their bets online, it probably did the opposite and encouraged more underground betting. There is however a ray of hope on the herizon for American online gambling as a few politicians are introducing new bills berfore congress as of May that could change all of this around finally. The 2 politicians are Barney Frank who happens to be a very well respected man on Capital Hill who also happens to be the Chairman of the House Committee on Financial Services and another supporter Representative Jim McDermott. Both men introduced bills that would regulate internet gambling and eventually make it taxable. Franks bill was made mainly for licensing of online casinos and to protect the consumer against fraud, but the bill that is being ontroduced by the very respect Mcdermott aims to regulate taxes from revenues of online waging profits from individual as well as corporate taxes. Imagine the billions of dollars that could be collected over the next 5 to 10 years if this bill passes. This money could be put to so many uses from helping families that are struggling to energizing the economy through the investment into future technologies such as alternative energy to stop our dependence on oil. I have never for the life of me understand why the American government ever chose to ban online gambling in the first place when they allow it in certain states plus for native american tribes in many states. Online gambling is still happening so why not go with the flow and start regulating it and make a profit out of it. The bills have the endorsement and support of many gaming institutions such as the UC group and the European Gaming and Betting Association. Hopefully congress will do the sensible thing and makes sure it passes. With the way the economy is In America many feel that this is the perfect financial environment to introduce a bill like this and quickly pass it. If congress is behind it and president Obama has an open mind and is ready for change it can happen and Americans in all states can gamble from the comfort of the homes with no worries about their individual state laws on gambling online.
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