The Barney Frank bill holds great promise for the online casino industry. If indeed the new proposal would go through and his bill becomes reality, some of the largest companies in the United States might take a sudden interest in online gambling. Right now, banks and other financial companies are unable to process transactions made by firms that offer online gambling. However, once this barrier is lifted, financial bodies will be able to not only assist the industry, but to profit of it! Alan Feldman, Senior Vice-President of MGM Mirage, said that they would act immediately if the bill is enacted.
MGM are not the only one interested. The list includes Sony, Apple, Universal, Columbia, Time Warner and many more. Practically, the entire entertainment industry is interested in regulated casinos over the internet. Frank's Internet Gambling Regulation and Enforcement Act opens the window for the online casino industry and might bring it back to the United States, only this time fully legal. The potential of this thing is much bigger than people believe. Sites like MySpace and Facebook that consists of enormous social networking platforms would be able to offer online casino games and other gambling offers for their users. The magnitude is overwhelming.
Frank's new pro online gambling bill is not only good for gambling firms, but it will benefit other industries as well. The internet community is excited about the possibilities of legal online casino playing with investors and capitalists are waiting in line. Regulating the industry will promise responsible gambling and taxation programs could help the United States' government raise more funds. Lifting the ban over online gambling would then help the American market in ways that we could not even imagine. Such economic potential should not be gone to waste.
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