Study to Show Pros and Cons of Online Gambling

November 27, 2007

The state Gaming Control Board are wanting to find exactly what the pros and cons are in regulating businesses that were banned by the United States government.  The University of Nevada, located in Las Vegas was commissioned by the state to do a study in gathering this information.

"This will be valuable information for policymakers," said board chairman Dennis Neilander in the story with the Sun.

Findings of the study should be released within a few weeks, and it may show large amounts of money that still goes to offshore online gaming, which would warrant taxing those revenues, according to a story posted in the Las Vegas Sun.

Tony Cabot, Las Vegas gaming attorney, has consulted with several online operators, and feels that state regulation would be warranted.

"It's historically been policy of the state of Nevada to regulate gaming so that we can protect patrons and make sure they get paid when they win," he said.

In October 2006, the Unlawful Internet Gambling Enforcement Act was passed, which made it illegal for transactions between financial institutions and online gaming sites.

Because of the act constantly being challenged, Rep. Barney Frank brought in a bill, which would help regulate online gaming by overturning many parts of the current bill and this idea of Rep. Barney Frank is gaining more constituents who feel his bill may have possibilities of giving online gambling the regulations that it needs rather than being ban from American players use.

Recently the Poker Players Alliance held meetings in Washington to have the voice of poker players heard for they’re close to one million members. During these meetings several poker players who are members of this group spoke to legislatures about online gambling and to gain support for legalizing online poker.

While there continues to be no change in the Unlawful Internet Gambling Enforcement Act, the opposition is growing including the European Union who recently hand a member in Washington for meetings and who spoke out about the United States legalizing online gambling.