Congress Moves to Re-Legalize Online Gambling

Move could bring in $42 billion in taxes

By Kevin Spak, Newser Staff

Posted Jul 29, 2010 9:40 AM CDT

(Newser) – Online gambling might soon be legal again, just four years after it was originally banned. The House Financial Services Committee approved a pair of bills to re-legalize and tax Internet casinos yesterday, the New York Times reports. The ban has just driven gamblers to overseas sites, supporters argue, while legalization could produce $42 billion in tax revenues. But many brick-and-mortar casinos oppose the bill, as do backers of the original ban.

“People sometimes resort to drastic things when they are strapped for cash,” said one Republican Virginia rep, calling the proposals “unfathomable.” But bill champion Barney Frank dismissed that argument. “Some adults will spend their money foolishly,” he said, “but it is not the purpose of the federal government to prevent them legally from doing it.”

[Images (2)]

[Quotes (1)]

An online Casino's website is pictured on the internet on July 27, 2004 in London. (Getty Images)

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We will not pass an Internet gaming bill. We will pass a
bill to do something very important, funded by
Internet gaming. - Brad Sherman, Democratic
Rep. from California

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COMMENTS

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Showing 3 of 19 comments

jagerhans

Jul 30, 2010 1:27 AM CDT

no point in keeping the pot ban and allowing online gambling .

zdaydream

Jul 29, 2010 11:57 PM CDT

This should stay illegal. In my opinion. <:-)

Non-deep-thinker

Jul 29, 2010 5:23 PM CDT

Here's a pretty good example of politicians at work. For years they sanctimoniously told us online gambling was bad and morally wrong and terrible for America and hurt the economy and on and on and on. Now it turns out the real problem was something else entirely: they weren't get their end. Once as they get their % of the take it's not quite as bad as they thought and all the deep moralizing suddenly comes to a screeching halt.

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New York Times (Source Grid »)

Politics • Technology

House Financial Services Committee • Barney Frank • Internet gambling • Unlawful Internet Gambling Enforcement Act • online casinos • gambling industry

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Congress Moves to Re-Legalize Online Gambling