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Anti Online Casino Bill Makes Progress

It seems that the American Gaming Association’s call, for a congressional committee that should look into online casino gambling before any deciding action is taken, wasn’t heard. A United States House of Representatives subcommittee approved, this week, a bill to ban online casino sites and Internet gambling. The bill still has a way to go before final approval, and will now move to a full committee for further consideration. Nonetheless, this new development in online casino legislation is a great step forward for Bob Goodlatte, who supported the proposal and working to pass anti online casino legislation.

The anti online casino bill is trying to change an existing law that addresses interstate gambling within the United States. The idea is to expand the law to include online casino sites, and to bar gambling business from accepting payment in the form of credit cards, checks, wire, and Internet transfers. The bill also addresses offshore gambling sites and will ban 2,300 online casino sites that are working form outside of the United States.

As mentioned, the bill has a few more obstacles to surpass before implementation, but the online casino industry is already reacting with top online casino group’s shares losing value. Any news concerning anti online casino legislation is a blow to the online gambling companies’ businesses, and the online casino industry awaits further developments.

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.

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