Ron Paul and Barney Frank introduced bill HR 5767 in order to prohibit the US government to ban online gambling in the United States, this following the introduction of the actual ban itself called the UIGEA (Unlawful Internet Gambling Enforcement Act). The bill recently stumbled on vote in the US government and lost. Its aim was to stop this ban and have the US government regulate national gambling, which would in turn generate billions in revenue for the federal government over the span of a decade.
It is quite shocking and sad to note that the bill didn't pass in congress. First of all, the bill could have been a great help to the already damaged US economy whilst the revenues the federal government regulation would bring into the federal government have been in the billions over the span of a decade, and that is just the start. Another positive simple truth is that if the bill were to have passed, the federal government would manage to successfully, or improve its monitoring on US citizens making bets online, as the existing situation clearly states that Americans continue to be gambling despite the fact that there surely is a current ban on internet gambling operations, and that the UIGEA law has failed. It is definitely better for the federal government to regulate and stop impeding Americans to gamble online than to ban the entire process altogether and fail in the ban itself while not taking in revenues from online gambling operations.
The bill was rejected simply because of the Las Vegas entrepreneurs and operators lobbying the federal government in order to succeed in the ban because of the reasoning that since Americans will not manage to gamble online mega388, where else than Vegas to create bets, wagers, and have a great time in general, therefore promoting tourism and economic activity in the city.
The long run is very grim after HR 5767 didn't pass as now the ban remains, and Americans will not manage to gamble online, at the least for a long time until another bill like that one comes to the senate floor for discussion. It could have been better for the federal government to lift the ban, and promote the Las Vegas entrepreneurs to compete with each other over the internet than to ban the gambling operation and stop from gaining billions in taxes and earnings from regulation.
In places like most European countries, this type of gambling has become acceptable, and has grown in staggering popularity. Governments ingest revenue from online gambling operations, and punters are happy performing bets online in fair regulated markets. USA based casino operators should learn from these already successful ways of gambling operation s and make an effort to promote it in their very own country rather than trying to impede it in order to make their clients go in a real manner for their casinos. It is much cheaper and much more effective to have online virtual portals than to invest billions in physical infrastructure.
No comments:
Post a Comment