Could the US Government use $52 Billion

The big accounting firm PriceWaterhouseCoopers did a study of the result of taxing and regulating Internet gambling.  Their study indicates that over a ten-year period the income from taxing and regulating Internet gambling could be $51.9 Billion.  This study echoes a similar study done one year before.

This new study has added ammunition to Barney Frank's bill that he introduced, in HR2046, The Internet Gambling and Enforcement Act.  This bill would handle licensing and regulation of the Internet gambling industry in the United States.  The licensing and regulations would be scrupulously enforced and would make online gaming toe the line like they do in Europe.  Congressman Franks plans to reintroduce the bill in March of this year.

The UIGEA law has severely crippled this industry in the US and forced all online casinos to operate outside the country and in many cases the operations have very lax oversight.  It also put many US poker players at an unfair disadvantage, as they cannot play in many of the better online poker rooms.  This law has been extremely disliked by all poker players in the US and it is also not very effective, as poker players have found other online sites that will take their business and even figured out other ways to fund their casino account. The law also put banks in the law enforcement business and has resulted in problems with other wise responsible customers.

Maybe with another poker playing President now in office, this new bill in the newly elected Congress will have a better reception by the US lawmakers. Prohibition took a while to be repealed, but unfortunately there are more drinkers than poker players.  On the other hand poker players are a determined and opinionated group of people who really want to see US players get to play anywhere in the world legally.  This skillful game should not be penalized by lawmakers who are trying to get the votes of people who are against all forms of gaming.  The cynical part of the law that was passed in 2006 was a Congressman that had the horse racing people as big contributors to his campaign pushed the law.   It was sold to the other legislators as a way to protect the youth of the nation from gambling.

As avid poker players await this law change, maybe the need for money will be the path for the government to repeal this stupid infringement on use of personal money.

Tagsinternet gambling, online gambling, online players, online poker, UIGEA, US government

See also

• The History of PokerStars.com
  The story behind the world-famous PokerStars is indeed a true rags to riches story, and the family that owns and operates the said online poker room never thought that the simple beginnings of their site will become a huge success that it is now considered as one of the biggest and most popular online poker [...]
• Poker Playing Activities Remain Strong in Recession
  Despite the fact that the economy has been in a bad position for the past year and doesn't show any signs of immediate improvement, and despite all the talk about the need for stimulus packages and government assistance, online poker playing endeavors are not seeing the super decline in gambling endeavors that Vegas gambling sites [...]