Online gambling law update

06-06-2009

When the United States Congress has broken betting on the Internet in 2006. The growth of the industry shifted away from companies, once darlings of the stock market, to private operators in offshore centers, such as Antigua and the Isle of Man. But now, leaders of some European companies whisper excitation May they soon be a second chance in the United States. Meanwhile, a number of European countries have long maintained that the gates are in motion, under pressure from the regulatory, legal and tax online gambling.

Still a lot of US online gambling

"There is still a lot of game, where there is no revenue for governments," said Gavin Kelleher, an analyst at research firm H2 Gambling Capital in Ireland. “ The biggest potential change is in the United States, where, perhaps within days, Representative Barney Frank, Democrat of Massachusetts is expected to introduce legislation to the cancellation of the illegal Internet Gambling Enforcement Act. "He supports the repeal and wants to move forward," said Steve Adamski, communications director for the House Financial Services Committee, which Mr. Frank is chairman.

Barney Frank the online casino king

Mr. Frank has tried and failed to do so once before, in 2007. President Barack Obama, they note, boasted of his prowess at poker during the election campaign. And the Democrats, who are perceived as less hostile to the Internet Thursday that the Republicans, have tightened their grip on Congress. A study by PricewaterhouseCoopers says the U.S. government could do more than 50 billion over 10 years of tax on the legalization of online gaming. Some analysts say that May be a little ahead of the game. Opponents of the repeal, including the Christian Coalition of America and the National Football League have promised to fight against any new effort to end the ban. Michele Combs, a spokesman for the Christian Coalition, said the group prepares for a "massive campaign of letter writing and lobbying to try to prevent any relaxation of the law. “There’s a better chance now for some sort of gaming legislation to be approved,” said Nick Batram, an analyst at KBC Peel Hunt, a brokerage firm in London. “But it took longer than expected to put anti-gaming legislation in place, and it will probably take longer than expected to remove it.”