US Congress look at new Online Gambling bill
The Bill to regulate online gambling in the US was revealed to congress by Barney Frank yesterday.
The bill could see congress make a u-turn on the current Unlawful Internet Gambling Enforcement Act, that currently restricts financial institutions from transferring money between online gambling sites and customers.
Understandably US citizens and gambling operators are very excited at the prospect.
If the bill is passed by congress, the US public will be allowed to play at sites like PKR.com and 888.com, although online gambling operations will be taxed by the government.
Barney Frank told American television broadcaster Fox News that, “Since gambling is available in sundry forms and outlets through land-based establishments, denying online gaming rights becomes a problem of consistency, as well as interference with personal choice and liberty.”
The US being open to online gambling again will not just help US operators though, European operators, who at the moment reject US players, will also be able to expand into the US market.
Price WaterHouse Coopers suggested that the US government could earn up to $52 billion in tax revenue if they tax and regulate the industry.
