As you may know, Congress has taken a significant step toward outlawing the majority of internet gambling.

They are attempting to make processing or handling money unlawful rather than seeking to abolish gambling websites, which would be impossible given that almost all of them are located outside of the US. As a result, gamblers would not be able to finance their accounts directly from US bank accounts, debit cards, or even credit cards.

The ubiquitous accessibility of the Internet, according to proponents of the ban, makes gambling too simple and leads to gambling addictions 

It is estimated that online casinos make $12 billion a year. This $12 billion is made up in part by American gamblers. It was stated by opponents of this proposed rule that taxation and industry regulation would be more beneficial than outright banning it. Alcohol didn’t benefit from prohibition. Gaming won’t be possible with it.

The government had the chance to control online gambling and benefit from the tax money. According to a recent analysis, the federal government could earn $3.3 billion annually from the regulation and taxation of just Internet poker.

Instead, they have converted financial institutions into law enforcement. The maximum punishment for infractions will also be increased, from two to five years in prison.

The bill’s two Republican sponsors, Bob Goodlatte of Virginia and Jim Leach of Iowa, managed to smuggle exclusions for the state lotteries and the horse racing business. Allowing internet lotteries and betting on horse races while outlawing other sports betting, casino games, and card games like poker isn’t exactly fair.

Many governments have decided to regulate online gambling rather than outright outlaw it. In addition to being far more useful, it serves as a sort of enjoyment for many people.

Thank goodness, there are still intelligent legislators in Washington who question the bill’s efficacy and have even referred to it as a “feel-good” piece of legislation. a bill that prioritizes press coverage over enacting law.

Leave a Reply

Your email address will not be published. Required fields are marked *