Obama Could Save His Presidency With Internet Gambling Regulations

President Obama was saddled with one of the worst recessions of all-time when he took office in January of last year. Now, with the economy still a sour subject for many people in the US, President Obama is searching for a way to save his presidency before it is too late.

Millions of people throughout the US are yearning for online gambling regulations from the government. The Internet gambling issue is one that is gaining steam in Washington, and already there are bills that have been introduced to change the current laws in the country.

Back in 2006, the Unlawful Internet Gambling Enforcement Act was created by lawmakers, and the law went into effect in June of this year. Opponents of the law claim that it still does not address which games are legal or illegal to play online. Financial institutions are upset that they have been left with the burden of enforcing the law.

The law states that financial institutions cannot allow transactions to and from online gambling sites. The law does not criminalize the gamblers, instead, it focuses on the offshore gambling operations and the financial institutions.

The biggest problem facing President Obama is the economy. His administration has been unable to effectively deal with the unemployment rate in the US to date. With unemployment rising, proponents of online gambling see a law change that could not only make millions of Americans happy, but also help with budget restraints and employment.

"If Obama and current lawmakers in Washington would do their research, they would see the billions of dollars in tax revenue and thousands of jobs that could be created if online gambling was regulated," said Gaming Analyst Brad Dawkins. "It is a simple solution, and with bipartisan support, it would make sense to move legislation along rapidly."

Representative Barney Frank has proposed legislation that has already been approved in the House Finance Committee. Frank, however, does not believe there is a strong chance that the bill would move to the House floor before the midterm elections in November.

September 22, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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