Click Now!

The U.S. Government and the Online Casino

It seems the US Congress is beginning another law campaign with the arrival of the New Year against the online casino industry and online gambling in general. The government’s fervent anti-online casino standing is doing little to stop the average online casinos player. A call for halting the transfer of online casino funds to operators and sites has been put out throughout the halls of Congress, but the result of this move is still unclear.

‘The Congressman told his colleagues that Americans will bet $5.9 billion on Internet gambling this year, while the chief executive of a major online casino and sports betting firm estimates that 12.5 million Americans wager online. Clearly, if all these people are betting all this money, they have found other ways to deposit funds into their accounts at Internet gambling sites. If that many Americans enjoy this activity, nothing that Congress can do will stop them,’ said Rick Smith, executive director of the Interactive Gaming Council, of Rep. Jim Leach (Republican –Iowa). It is clear that online casino sites and online gambling are here to stay. The question is when, and if, these online casino portals will be legalized and regulated by the U.S.

Some political magazines and analysts do feel that there is hope that 2007 will witness the U.S.’s acceptance, legalization and regulation of online casino sites. This is very possible, although not set in stone. In the meantime, online casino players will continue to have their fun at their favorite online gambling sites, and the U.S. government will continue the battle between those who wish to accept online gambling and find the best course of action regarding regulation, and those who wish to see Internet gambling banished from the face of the Earth.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.