Ron Paul and Barney Frank introduced bill HR 5767 to prohibit the US government from banning online gambling in the United States, this after the introduction of the actual ban called UIGEA (Law Enforcement of illegal gambling on the Internet). The bill recently came to a vote in the US government and lost. His goal was to stop this ban and have the US government regulate the national game, which in turn would generate billions in revenue for the government over the course of a decade.
It is quite shocking and sad to see that the bill did not pass in Congress. First, the bill would have been a great help to the already damaged American economy, as the revenue that government regulation would bring to the government runs into the billions over the course of a decade, and that’s just the beginning. Another positive fact is that if the bill had passed, the government could successfully, or improve its monitoring of American citizens who make bets online, as the current situation clearly states that Americans continue to gamble despite the fact that there is a current ban on internet gambling operations, and that the UIGEA law has failed. It is far better for the government to regulate and stop preventing Americans from gambling online than to ban the entire process altogether and to fail the ban itself without earning revenue from online gambling operations.
The bill was rejected in part because Las Vegas businessmen and operators lobbied the government to succeed in the ban due to the reasoning that since Americans will not be able to gamble online, where else other than? Let Las Vegas make bets, bets, and have a good time in general, thus promoting tourism and economic activity in the city.
The future is quite bleak after HR 5767 failed, as now the ban remains and Americans will not be able to play online, at least for a long time until another bill like this comes to the Senate for discussion. It would have been better for the government to lift the ban and encourage Las Vegas entrepreneurs to compete with each other over the Internet than to ban the operation of gambling and stop earning billions in taxes and profits from regulation.
In places like most European countries, this type of game has become acceptable and has gained astonishing popularity. Governments derive income from online gambling operations and bettors are happy to place bets online on fair regulated markets. US based casino operators should learn from these UFA already successful methods of gambling operations and try to promote them in their own country rather than trying to prevent their customers from physically going to their casinos. It is much cheaper and more effective to have virtual portals online than to spend billions on physical infrastructure.