‘Nothing is forever’ and ‘life is unpredictable’ are two expressions that are really proving themselves in these troubled times. Many things are swinging violently and what was great yesterday is a disaster today. Online gambling sustained a blow with the passing of the Unlawful Internet Gambling Enforcement Act of 2006. Part of the online gambling industry immediately moved offshore to places like Gibraltar and Antigua. Another part went underground. Other businesses folded and closed their operations or began operating only in those counties which sanctioned online gambling. Many Americans were happy with the Act and many Americans were unhappy and some Americans were violently angry and swore to get online gambling back on the US rails as soon as possible. Today there is a lobby in the US senate under the leadership of Congressman Barney Frank, who in April 2007 introduced a bill to overturn the gambling aspects of the Act, saying “The existing legislation is an inappropriate interference on the personal freedom of Americans and this interference should be undone.” Additionally the bill sets up the framework for taxing and regulating online gambling by individuals within the United States. With the election of a new US President will come a new struggle to legalize online gambling. But there is also another reason that is probably even more compelling. The Wall Street melt-down. The US economy is in a mess. Money is scarce and the US treasury is rushing around pouring money on fires all over the place. Gentlemen, I offer you a ready source of funds – online gambling. Take a look at the annual turnover figures, perhaps those before UIGEA, and be amazed. Imagine if all this online gambling was legal and under government regulation and taxed! You would be swamped out with money. Money to do all the things you have been promising the people and never did, like fixing up hurricane damage and preparing for more hurricanes; upgrading defense systems; why there is no limit to what good, legal money will buy. Most of all, you will be keeping all that green US money right at home where it belongs! Posted on: December 23, 2008
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