Click Now!

Online Casino Bill Approved by House

A U.S. House panel has approved controversial new legislation to tighten up on laws that would ban gaming at online casino sites. The Internet Prohibition Act, sponsored by Virginian Senators Bob Goodlatte and Rick Boucher, has made headlines in recent months for its potential to change the face of the online casino industry. The bill’s success in the House is widely regarded as a preliminary step that may lead to its enforcement by the U.S. Congress.

The vote by the House’s judiciary subcommittee was passed unanimously this week, giving Senator Bob Goodlatte good cause to celebrate. The online casino opponent has castigated the online casino industry in recent months, blaming it for a range of social problems including money laundering, gambling addiction and underage gambling. Under the bill, U.S. financial institutions would be forced to refuse to conduct financial transactions to online casino sites based outside the U.S.

However, according to some, the bill does not go far enough. One Virginian Democrat has said the legislation will still not bar individuals from gambling at online casino sites. The American Gaming Association has declared itself to be neutral on Goodlatte’s legislation. Other politicians point out that while the bill explicitly bans gambling at online casino sites, it fails to address the lucrative horse betting industry.

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.

COMMENTS

comments