Money Makes Congress Aware of Online Casino Freedoms

The proposal to regulate online casinos is finally getting attention, now that profit can be found by advocating for citizens' rights.

The principles of the Constitution and the vast majority will of the people have called for a removal of the online casino ban and a respect for individual freedom. But, as money to be made increasingly becomes the cause behind Internet gambling regulation, it is now that the elected leaders of the US notice the need to repeal the UIGEA and establish rules for online gaming.

A Congressional study found that, if online gambling were regulated as suggested in Barney Frank's bill, the estimated revenue produced over the next decade would roughly amount to $42 billion. The opinion was rendered by the Joint Committee on Taxation, which applied Frank's prescribed regulation.

"I'm always looking for money to deal with some of the problems I see out there," said Representative Jim McDermott to the Wall Street Journal, commenting on the attempt to remove the prohibition of freedom of choice. "This looked like a good place to find some revenue."

Industry experts say the US residents deposit over $100 billion a year at online casinos and Internet poker rooms.

Frank says he still hopes his regulatory bill is formally considered by the House Financial Services Committee before the end of the year. Frank is the committee chairman.