It was just 2 ½ years ago when online gambling appeared to have the death bells toll on its behalf.  It was a misty day in October when Republican politicians killed off gambling on the Internet in the by passing the Unlawful Internet Gambling Enforcement Act (UIGEA).  The UIGEA was attached to an unrelated Port bill, without the ability to debate and 15 minutes prior to vote!

Supporters of the ban argued that online gambling takes billions out of the economy, serves as a vehicle for money laundering and damages families.  The truth of the matter that the U.S. ban on internet gambling has not stopped citizens from gambling online and has hurt trade ties with the European Union.  In fact, the World Trade Organization has ruled that the is in violation of treaty obligations by not giving full access to online gambling companies. 

It looks now that executives in the top European Internet gambling companies see the light at the end of the tunnel.  There appears to be internal pressures from regulators to legalize online gambling, thus ensuring a baleful of tax monies for the U. S. Government.  With the Democrats in power and Obama calling the shots from the White House, there is reason for optimism in this instance.  

Sometime during the month of May or in early June, Representative Barney Frank (D-MA) is expected to move forward to repeal the UIGEA and present a bill that would legalize Internet gambling in the , and make all profits subject to taxation.  A recent study on this issue, conducted by the respected accounting firm of PriceWaterhouseCoopers, estimated that the U.S. Government can raise as much as $52 billion in revenue over the next ten years from taxes on legalized online casino gambling.

While there are still opponents to this bill, such as the Christian Coalition of and the National Football League, it does appear that the political and economic climates have created the perfect storm for the repeal of the anti-gambling bill, and the legalization of online gambling once again in the .  As Barney Frank said, “This is about freedom. I’m not just concerned with poker.  What’s next? Mahjong?”