US And Australia May Be Next In Line For Regulated Online Gambling

The US and Australia have developed online gambling laws in their countries that virtually mirror one another. The countries may soon have a lot more similarities when it comes to Internet gambling with lawmakers in both countries looking to overhaul the current laws.

In the US, the Unlawful Internet Gambling Enforcement Act was put in place back in late 2006. Since then, there has been a public outcry denouncing the law. The financial institutions claim that it is not possible for them to take on the extra burden of being responsible for blocking online gambling transactions.

Residents of the US are also upset with the law. There are millions of Internet gamblers in the US, and currently they are having to choose between a bunch of online gambling sites that are unregulated by the country.

Representative Barney Frank is leading the charge to correct the ill-advised UIGEA. Frank has proposed legislation that would overturn the UIGEA. The legislation also calls for a regulated Internet gambling industry, complete with licenses and taxes. Sixty-two lawmakers have already signed on as co-sponsors for the proposed legislation.

In Australia, the Interactive Gambling Act was put in place back in 2001. It has been compared to the UIGEA in its ineffectiveness. The Australian Productivity Commission has recently released their latest report on the gambling industry in the country, and the report calls for legalized and regulated Internet gambling.

The fear in Australia is similar to the fear in the US. Residents of the country are already taking part in the activity of Internet gambling, yet they are not protected by their country's laws. That leaves them susceptible to possible injustices caused by the current system.

Other countries have also been working on their online gambling laws. Spain, France, and Italy have all spent a long amount of time examining their laws. These countries have either already changed their laws, or are in the process of doing so.

October 24, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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