Internet Gambling Bill Has Republican Senators Split

The new Internet Gambling Bill that would block financial transactions to offshore gambling websites appears to have reached a snag in the Senate. The new bill would cut the flow from financial institutions to gambling Web sites. The offshore gambling site would simply not be able to collect the debt owned by the casino gambler.

However, a top congressional aide said Republican senators are split on the bill and the bill is not likely to come up in the Senate before Friday's recess and it is "unlikely" if the measure will even come up before November's elections.

About 8 million Americans bet $5.9 billion on the Internet in 2005, according to a report released earlier this year by Christiansen Capital Advisors, a group that tracks economic statistics in the entertainment business.

The report also showed that Internet gaming revenue that year, the most recent for which statistics are available, was about $12 billion and is expected to double by 2010.

Supporters of the legislation say the bill is needed to clarify that the intent of a 1961 federal gambling law banning telephone betting across state lines also covers online gambling.

August 3, 2006
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!