The online gambling industry appears on the verge of making tremendous strides, as the United States Congress has once again broached the subject of online gambling.  Representative Barney Frank (D-MA) continues to be the chief proponent of the online gambling bill that has been marked up in the House by a vote of 41-22.  

Yes!  The online gambling news is positive in the United States today.   Bill HR 2267 is the bill proposed by Frank that will amend the existing title 31, United States code, and will curtail the enactment of the existing Unlawful Internet Gambling Enforcement Act (UIGEA).  The new bill is intended to:

·        Protect consumers in their use on the Internet

·        Enforce the U.S. Tax Code

·        Increase the tax revenue for the government

The bill would have the following benefits:

·        Credit unions and other financial institutions would be afforded protection from the financial liability they are exposed to under the present UIGEA.

·        Internet gaming providers would be required to pay licensing fees.

·        Tribal land governments in the United States, as well as gaming facilities, would be allowed to operate online gaming sites.

·        It will provide a set of regulations and safeguards for an already burgeoning industry.

The European nations appear to be far ahead of the online gambling curve.  The European countries are making no pretence about their vision of online gambling – it provides a tremendous source of income in terms of tax revenue to boost their economies.  This approach is more practical than the social and moral model espoused in the States.  

The European countries basically feel that the Internet is an integral part of peoples’ lives, and that the Internet is what it is.  The Internet can be used as a benefit to countries that embrace its upside.  That is why Europe has become the leader in online gambling, accounting for $12.5 billion of the online gambling industry’s $29.3 billion total revenue for the calendar year 2009.

Onlinegambling.co.uk will continue to provide up-to-the-minute online gambling news for its readers, and will keep a particularly close watch on the subject of online gambling and its effects on the international global markets.