Regulation to Replace Failed Internet Gambling Prohibition
09 November 2009
Things are beginning to look up for the online gambling businesses. More and more are leaning to license and regulate the online gambling industry in the US!
In an op-ed published in today’s Roll Call, Rep. Jared Polis (D-CO) argues regulating Internet gambling in order to protect consumers and generate up to $42 billion in new revenue is a “sensible approach.”
Based on his experience of having started and managed several Internet-based companies, Rep. Polis says Congress should “…scrap the ineffective attempt to ban Internet gambling in the U.S. and, instead, replace it with a regulated environment where adult consumers can elect to place a wager online with assurances that they are protected from fraud and abuse.”
“Regardless of what one thinks of the proper public policy approach to gaming in general, it’s time to acknowledge that this incidence of ill-conceived prohibition has failed, is failing and will continue to fail because it completely ignores the reality of the Internet,” states Rep. Polis. “A new policy approach is needed to address this issue and protect Americans and the freedom of the Internet.”
Rep. Polis further encourages support for the Internet Gambling Regulation, Consumer Protection and Enforcement Act (H.R. 2267), introduced by Rep. Barney Frank, which would “replace the current, ineffective ban on Internet gambling with a strict regulatory environment where operators must be licensed and required to implement safeguards to protect against compulsive and underage gambling, money laundering, fraud and identify theft.”
Click here to read the entire Roll Call op-ed.