America will Regulated Online Gambling Soon

Fri, 26 Feb 2010 09:57

A new bill has been introduced in the United States

Legislators in the US have proposed a bill which could make online gambling a regulated activity charging the operators a 2% licensing fee on the monthly receipts. Republican Senator Judd Gregg and Democratic Senator Ron Wyden put forth the tax proposal together in the US Congress. The bill primarily addresses changes to simplify tax codes and brackets but has the added component of taxing online gambling within the legislation.

It is hoped by many that this will be perceived as a win, win situation for both parties with a compromise before a long and heated debate. Michael Waxman, from the Safe and Secure Internet Gambling Initiative spoke about the development, “With so much media focus on the differences between Democrats and Republicans in Congress, this bipartisan initiative highlights the growing support on both ends of Capitol Hill for replacing the failed prohibition on Internet gambling with a system to regulate the industry, protect consumers and generate billions in new revenue.” Good public relations for the countries two parties that are usually consider at opposite ends of the political arena. The proposed bill came with a qualifying statement: “Internet gambling in the United States should be controlled by a strict Federal licensing and regulatory framework to protect underage and otherwise vulnerable individuals, to ensure the games are fair, to address the concerns of law enforcement and to enforce any limitations on the activity established by the States and Indian tribes.

Barney Frank's proposed bill is similar in approach and has in depth the ways and means to accomplish legalization. The Poker Player’s Alliance has already said this is positive with John Pappas saying, “We’re pleased with it. The prospects of this legislation are unclear. This is a sign of things to come, perhaps seeing internet gambling being added as pay-for in other bills.”

Now that there are anti-UIGEA bills in both the Senate and the House, hopefully this issue will move ahead faster. The legislators in favor of legalizing online gambling are chasing the deadline of June 1, 2010 when the UIGEA rules will go into effect.

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