Legal Online Gambling May Return to US

According to a story on News.com, legal online gambling may return to the US. The ban, put into place last year, is now in jeopardy thanks to the efforts of folks like Barney Frank, the Democratic chairman of the House Financial Services committee. Frank is of the opinion that adults should police themselves for excessive gambling, and the government should stay out of their way. "Friday's hearing included witnesses from companies that process online payments. In general, they echoed the arguments once used in favor of ending alcohol prohibition and that are now being invoked to decriminalize marijuana: It's better to legalize, tax and carefully regulate an industry than let it flourish with far less oversight in the black market. Some countries already do just that. In the United Kingdom, for instance, Internet gambling is legal and strictly regulated. Some of the larger online casino operators are publicly traded on the London Stock Exchange. "

Re:About that, Mr. Frank...

[imamac]

The thing is, he knows he can tax it when it's legal again.

I would've loved Barney Frank...

[mi]

If his opinion on adults' ability to police themselves extended into non-entertainment areas of life...

If he grew the understanding, that we are likewise capable of saving for retirement, finding job, choosing health-care options, etcetera, I would even have forgiven his copious amounts of non-help in the case of my grandmother's immigration to the US.

Re:hmm

[ptbarnett]

While Frank is a policy wonk, and usually tries to find reasonable solutions to real problems unlike many of his colleagues, I can't help but wonder who is paying for this.

I agree that he isn't likely to be "taking one for the team" because he thinks it's the right thing to do.

But, there's a larger issue here: The US has repeatedly lost to Antigua [iht.com] in the WTO, who has ruled that the US law against online gambling (while exempting other gambling within the US) is illegal under the WTO treaty.

The US has responded by saying "we will renegotiate the treaty". Needless to say, this hasn't gone over well with other members of the WTO.

Antigua has threatened to retaliate, but their options are limited. One proposal is for Antigua to sell US-copywrited material (i.e. music) online, without paying the royalties.

Re:Reversal?

[Anonymous Coward]

It's kind of interesting to see the Bush Administration in favor of restricting commerce, while Barney Frank (a Democrat) wants to allow a freer (albeit still heavily regulated) market.

You can say there are typically at least six wings or factions in the Republican Party: the Religious Right (lead by Bush and Southern Republicans), interventionists (led by Cheney and Rumsfeld), States rights, social conservatives (like Ronald Reagan and John McCain), fiscal conservatives (like Alan Greenspan and Newt Gingrich), and libertarians (like Ron Paul). Today only the Religious Right and the interventionists have much power in the Republican Party. The Religious Right thinks it is immoral and should be banned and the interventionists don't care either way. The groups that would logically oppose it--States rights, fiscal conservatives, and libertarians--have no power. So we have the Democrats proposing a freer market. This is bizarre but so is the situation that led the neocon alliance to gain power over the traditional conservatives in the Republican Party.

Re:hmm

[Score Whore]

No. Seatbelt laws are based on one thing: insurance company profits.

Additionally, if we were going to go with total freedom, as those who want unrestricted online gambling appear to desire, then it is up to the passengers to not ride with a non-seatbelt wearing person. What's more, in a traffic accident no one ever gets charged with manslaughter unless it was intentional or they were DUI.

Re:I would've loved Barney Frank...

[mi]

I, unlike millions of Americans, presently have the option

Are you — along with Mr. Frank — telling me, that "millions" of natively born and raised Americans have somebody but themselves (and, maybe, their own parents) to blame for not being able to afford anything they darn please by adulthood?

Millions of (would be) immigrants dream of coming to this country — legally and otherwise. And when they do, most of them manage to not only prosper, but to help out their extended families back at home — all without the tremendous headstart afforded by having grown up here, knowing the language, the customs, and the culture.

But Mr. Frank's ilk of illiberals are happy to score votes by saying, that the failures aren't really your fault. It is racism. It is poor education. It is "corporate greed". Everybody is at fault, but you, poor sap. Because you aren't an adult capable of controlling your own life in this free country.

Except, when it comes to entertainment, that is...

Re:About that, Mr. Frank...

[Adult film producer]

Well, ya, that's the point. Online gambling hasn't stopped because of the ban, it just goes on in the shadows . Hopefully they'll do something about cannabis as well. Taxing it like beer & gambling seems like a better option than wasting money on incarcerating people.