Online Gambling is a fun and exciting way to play games of chance, but it can be risky if you do not know what you are doing. In the past, many government agencies slowed down or completely banned online gambling, but it is now legal in some states.
The first online poker rooms were launched in 1997, and by the late 1990s, there were over 200 gambling sites on the Internet. In fact, the revenues from Internet gambling reached $830 million in 1998. But as online gambling became more popular, questions arose regarding whether it was legal.
In response, Congress introduced the Internet Gambling Prohibition Act, or IGPA, in 1999. This bill would have made it illegal for any individual in the US to gamble on the Internet.
In April 2007, Rep. Barney Frank introduced a bill, HR 2046, which would regulate online gambling by requiring internet gambling facilities to be licensed by the director of the Financial Crimes Enforcement Network.
The bill also made banks responsible for handling online gambling payments. However, the Justice Department argued that the law should be interpreted to apply to all forms of Internet gambling.
Since then, lawmakers have tried to update the law. In the House, several similar bills have been introduced.
In the Senate, there are two different bills. One would have limited the activities of online casinos and poker to those conducted in a few select states, including New Jersey. The other bill, titled “Jon Kyl’s Act,” would have regulated online gambling.
Comments are closed, but trackbacks and pingbacks are open.