What Will You Do When Online Gambling Is Illegal
Below is a MRR and PLR article in category Recreation Sports -> subcategory Gambling Casinos.
What Will You Do When Online Gambling Becomes Illegal?
Summary
Congress is moving towards a significant ban on online gambling, focusing on making payment processing illegal rather than targeting the gambling sites themselves.Article
Recently, Congress has been considering a major move to ban most online gambling. Instead of attempting to shut down gambling websites, which are mostly based outside the United States, the focus is on prohibiting payment processing. This means that using credit cards, debit cards, or making direct transfers from U.S. bank accounts for gambling would become illegal.
Proponents of the ban argue that the easy access to online gambling fosters addiction and financial issues. Despite these concerns, the online gambling industry rakes in around $12 billion annually, with half of this revenue coming from the U.S. Critics of the ban suggest that regulation and taxation would be more effective than an outright ban, noting historical failures such as alcohol prohibition.
The potential tax revenue is significant. A recent study suggests that regulating and taxing online poker alone could bring in $3.3 billion annually for the federal government. Instead, the current proposal would turn financial institutions into enforcers, increasing penalties for violations up to five years in prison.
Interestingly, the bill's sponsors, Republican Representatives Bob Goodlatte of Virginia and Jim Leach of Iowa, have included exemptions for horse racing and state lotteries. This selective approach raises questions about fairness, as it allows certain types of betting to continue while cracking down on others like sports betting and poker.
Many countries have opted to regulate rather than ban online gambling, recognizing its recreational value for many people. Fortunately, some lawmakers in Washington question the bill's effectiveness, labeling it as more of a publicity stunt than a practical solution.
A more sensible approach might be to bring the industry to the U.S. and regulate it domestically. This situation is definitely something that online gamblers should watch closely.
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