BingoT
Nurses love to give shots
- Joined
- Dec 16, 2004
- Location
- Palm Bay Florida
An online gambling fix
A proposed licensing program would provide oversight to wagering.
Congress cracked down on most forms of online gambling four years ago, concerned that the explosion in unregulated (and questionably legal) poker and sports betting sites was promoting organized crime, money laundering, underage betting and a host of other ills. The effect, though, was simply to drive U.S. residents to sites in other countries where online gambling is legal — no less convenient and, potentially, just as unregulated.
House Financial Services Committee Chairman Barney Frank (D-Mass.) now wants to take the opposite approach; his bill (HR 2267) would create a licensing program for online gambling sites that would permit them to accept wagers from players in the United States. Rather than pretending that Americans aren't gambling online, Frank's bill would bring more protection to players and minors in states that are ready to stop the charade of prohibition.
Federal law has long banned betting remotely on "any sporting event or contest," with the exception of remote betting on horse races at off-track betting parlors and tracks. Nevertheless, online gaming had grown into a multibillion-dollar business in the U.S. by the end of 2005, prompting Congress in 2006 to bar banks and credit-card companies from processing transactions linked to Internet gambling.
A proposed licensing program would provide oversight to wagering.
Congress cracked down on most forms of online gambling four years ago, concerned that the explosion in unregulated (and questionably legal) poker and sports betting sites was promoting organized crime, money laundering, underage betting and a host of other ills. The effect, though, was simply to drive U.S. residents to sites in other countries where online gambling is legal — no less convenient and, potentially, just as unregulated.
House Financial Services Committee Chairman Barney Frank (D-Mass.) now wants to take the opposite approach; his bill (HR 2267) would create a licensing program for online gambling sites that would permit them to accept wagers from players in the United States. Rather than pretending that Americans aren't gambling online, Frank's bill would bring more protection to players and minors in states that are ready to stop the charade of prohibition.
Federal law has long banned betting remotely on "any sporting event or contest," with the exception of remote betting on horse races at off-track betting parlors and tracks. Nevertheless, online gaming had grown into a multibillion-dollar business in the U.S. by the end of 2005, prompting Congress in 2006 to bar banks and credit-card companies from processing transactions linked to Internet gambling.
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