Wall Street Journal Asks Should Web Gambling be Legalized?
08 March 2011
There has been a poll put up on the Wall Street Journal community board that asks a pretty basic question: Should web gambling be legalized? This is not the first time the WSJ has posed such a question on its boards and the results as of this article are overwhelmingly in favor.
This is not a formal poll by any means and as of today just shows 358 total votes but 78.2% of those voting favor legalizing online gambling. Currently there are several states looking to bridge state revenue gaps by regulating some forms of intrastate internet gambling.
According to a commenter on the poll, “People play games online by the millions and there is a confluence of online gaming and online gambling and online ecommerce. Burying ours heads in the sand will not stop technology or human nature”
According to Rep. James Leach, the online gambling industry is booming. Americans alone will send $6 billion to off shore online casinos in 2011. That accounts for half of the $12 billion bet worldwide. None of this money is being looked after by any regulatory committee and no portion stays in the U.S. in the form of fees or taxes.
So the debate continues across America. Some states are looking to regulate their own version of intrastate online gambling and there is rumor that April of this year a new Federal bill will be proposed that is co-written by Republican Congressman John Campbell and Democrat Congressman Barney Frank. It has been a bumpy ride for those who want regulated online gambling in the U.S. and this year, so far, looks to be more of the same.
14 May 2010Canadian Man Pleads Guilty in U.S. Online Gambling Charge
Douglas Rennick, a Canadian man, has pleaded guilty to a count of processing offshore bets of U.S. citizens. Originally Rennick was looking at a charge of conspiracy and bank fraud. He had allegedly laundered $350 million dollars for overseas internet gambling companies. Rennick was indicted in August and on Tuesday entered a guilty plea to the one charge in New York Federal court. Part of the plea was forfeiting $17.1 million and a possible prison term of 6-12 months.Read full article
02 June 2010France to Award 30 Licenses for Online Gambling
Today the government of France approved a new online gambling bill. The bill passed the French parliament by a narrow 299-233 vote. The French will grant only 30 licenses to operate online casinos and poker rooms within its borders. Though it is now official and France says that licenses will be granted in time for the 2010 World Cup, not everyone is excited about the French market.Read full article
09 June 2010France Issues 11 Licenses For Online Gambling
France acknowledged that 11 companies have been granted license and have been registered to conduct online sports and horse race betting as well as online poker within France. According to Arjel president Jean-Francois Vilotte, the regulator of gaming in France, “There were 35 requests for licenses and we have retained 17 at this stage. None have been formally rejected.Read full article