USA Close to Online Gambling Legalization?

The bill that could legalize online poker playing and online casinos in the United States was heard recently members of the House of Representatives.

Although it could be some time before any final decision is made about the legalization of online casinos and virtual poker rooms, what is known is that Rep. Barney Frank’s (D-Mass.) bill would overturn some of the stipulations in the Unlawful Internet Gaming Enforcement Act, which is set to take effect in June.

Currently, it is illegal for online casinos and virtual poker rooms to operate in the United States. Though online poker playing and casino playing have both become popular in recent years, none of the major online casinos and poker rooms are located in the United States. They operate offshore, and have found ways to receive payments from American players. The UGIEA would crack down on some of the loopholes, and would make it very difficult for Americans to gamble online.

One of the good things that could come out of any new regulation would be additional jobs. According to figures released by the House Finance Committee this week, the legalization of online gambling could result in the creation of nearly 32,000 jobs. In addition, it could result in a revenue benefit of more than $57 billion to this country’s economy. These benefits might be seen over a 5-year period.

Barney’s bill includes the legalization and regulation of online casinos based in the United States. While the bill still many hurdles to jump through, many watchers are confident that the legalization of online gambling for American citizens is just around the corner.