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Online Gambling Ban Gets Reconsidered by Congress
In the midst of our cash-strapped economy, the federal government is now looking into legalizing online gambling. The New York Times reports that the House Financial Services Committee approved a bill that would allow "online poker and other nonsports betting, overturning a 2006 federal ban," which was mostly ineffective in the first place. The Times notes that the bill would have the Treasury Department regulate online gambling businesses, while a second measure would have the IRS tax the operations. Supporters claim those taxes could pull in $42 billion over ten years.But the bills aren't near passing, and have a legion of detractors, ranging from casinos and American Indian tribes to Republican congressmen who say that there is a bitter irony in blasting Wall Street's unfettered expenditures while promoting at-home gambling. Representative Barney Frank, leader of the Financial Service Committee and supporter of the bill, has said, "Some adults will spend their money foolishly, but it is not the purpose of the federal government to prevent them legally from doing it."
Despite the 1961 Federal Wire Act, which prohibits interstate and foreign gambling "on any sporting event or contest," and the 2006 measure barring financial institutions from doing electronic business with gambling operators, one cannot escape the fact that online gambling is thriving. Online gamblers have found ways to circumvent the law, and the Times notes that the quasi-underground industry may be raking in $6 billion per year.
The bill incorporates measures that would ban the marketing of gambling to children, discourage compulsive betters, and allow states and American Indian tribes to opt out entirely. [From: New York Times]
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Comments
33
Subscribe to commentsbenedettajAug 2nd 2010 1:00AM
Hey Button,
I'm a single man of 55 who likes to gamble. I have NO KIDS TO FEED, so why should there be a law to stop me. If you don't gamble it will NOT effect YOU. And as far as somebody elses kids, thats none of your or my business.
I Say any NEW TAXES should go strictly only towards the National Debt with a matching Federal program cut.
My Name is John and I approve this message.
John F.C. TaylorJul 30th 2010 12:59PM
There used to be computer programs that were designed for picking lottery numbers. I believe these were killed by this same bill that is now being reconsidered. Sure would like to see it over turned just for that alone. Never hit anything over $100 using the program, but it sure made picking the numbers more convenient.
Tom JacksonAug 2nd 2010 10:14AM
The states already control the slots/ table games and numbers rackets. Why shouldn't the Feds get their piece with online gambling?? Does anyone really think that the mob was pushed out of these rackets for any other reason than to clear out the competition? Can anyone tell me the differance between the government running gambling vs. the mob? They both seem the same to me. Either can kill you or destroy your life at the drop of a dime! God help us!
DonnaJul 30th 2010 1:39PM
There goes all the unemployment checks.
AnnaJul 30th 2010 1:49PM
How can they be certain those gambling online arre 21 or over? Until they find a way, I don't believe it should be legalized.
Tom JacksonJul 30th 2010 1:54PM
Anna,
Quite simply, they don't care they just want the money!
dctoymanJul 30th 2010 2:00PM
I bet 3 to 10 it passes
wyldsyde53Jul 30th 2010 3:10PM
Why is it that people still complain about the rich? If not for people who have alot of money there would be no jobs. If you want something go out and earn it.
shavspalaceJul 30th 2010 4:10PM
If the government wants more tax revenue why don't they spend their energy trying to figure out how to collect taxes on internet purchases in all 50 states instead of screwing around with online gambling and the problems it will create.
TitangirlAug 1st 2010 10:11PM
Well you aren't throwing your money away...
Really getting the money from the person who played on slot machine for a while (pouring money into it).
I remember when I only had $1... I was broke....
I played 21 and I won $30.
You just have to know how to play.
RobAug 1st 2010 11:07PM
When I was a kid, my state didn't even allow the lottery. We had relatives in a state that did and bought tickets through them on occasion through USPS, so I grew up believing gambling was taboo since it was not allowed. Now it's EVERYWHERE what happened? Strange to me how society can take such huge ethical swings from one side to another. I'm not saying we should all be like the Amish people, but I'd say gambling will get the people nowhere. Why not encourage people to be wise with their money? Why offer the people a stupid gamble? Sure we have a choice but folks aren't falling through the cracks anymore, they're being swept into the cracks. In this bad economy people are more likely to do something desperate like gamble and end up worse off than before. It has more potential to ruin people than enrich peoples lives.
dklugmx5Aug 2nd 2010 1:16AM
Isn't our entire country already based on gambling? Yep, that's right. what do you think Wallstreet is? People betting that the money they invest makes them money. Whenever you put your money into a stock you are gambling or "betting" that you are going to make money but also knowing that you might lose every cent that you just put in. Sounds a lot like gambling to me....
N2themmysticAug 6th 2010 11:27PM
You really should listen to the words of Rep. Frank: "Some adults will spend their money foolishly, but it is not the purpose of the federal government to prevent them legally from doing it."
Do we really need someone telling us how and where to spend our hard earned money? I don't hear anyone telling you that you will not be allowed to spend thousands of your own dollars on roller coaster rides and bad food in Orlando.
Do you realize that one provision of the 2006 law makes a special exception for online wagering on horse races. Its perfectly legal to bet on a horse to win a race but not on yourself to win a poker tournament. So absurd.