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U.S. Online Casino Ban Edges Forward

The US online casino ban is edging forward as the two bans receive approval from the U.S. House Judiciary Committee. Online casino industry analysts still remain optimistic. The uncertain future of online casinos in the American market has once again taken a beating. The attempted online casino bans which are being pushed forward by two US law makers are edging forward in the legislative levels. U.S. House Judiciary Committee approved Rep. Bob Goodlatte’s HR 4777, “Internet Gambling Prohibition Act” as well as Rep. James Leach’s HR 4411, “Unlawful Internet Gambling Enforcement Act of 2006.” This decision means that both potential laws affecting the online casino industry will proceed to the full House of Representatives for further consideration.

One sticky point regarding online casino horse racing betting came up and was discussed by the committee. In the end, an amendment was introduced that clarifies that HR4777 makes no judgment about the legality of online casino race wagering and instead leaves the issue to the Department of Justice to interpret whether or not it considers the Interstate Horseracing Act to allow such wagering. The move was seen as a compromise to avoid expected leniencies that have had such a negative effect on earlier attempts to strangle online casino gambling.

The intention of the Internet Gambling Prohibition Act allows states to continue to regulate online casino betting within their borders with tight controls to be sure that it does not extend beyond their borders or to minors. It also prohibits an online casino from accepting certain forms of payment, including credit cards, checks, wire and Internet transfers, in illegal gambling transactions.

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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