After Black Friday and the more recent “Black Tuesday” and the sad turn of events for US online poker rooms, there has been a constant increase in pressure on the government to approve the online gambling legislation. Even now even the American Gaming Association (AGA) as well as Brian Sandoval, the Governor of Nevada have joined this group in order to gain a positive response from the government regarding internet gambling.
After the rally on Capitol hill and protests made by several groups, Michael Waxman, one of the supporters from the Safe and Secure Internet Gambling Initiative, made a statement claiming that it would serve as a shock to their organization if Congress chose to ignore this kind of a support from the public, the media and some government officials. According to Waxman, it had to be enough for the Congress to make a move regarding the issue.
Millions of Americans gamble online, and more than a thousand operators provide online poker services for the American customer base. Asa a result, it is pointless to try and stop internet gambling, due to the immense demand, and hence the sensible thing to do is to agree to regulating internet gambling and using the revenues for the development of the nation.
The CEO and president of the AGA, Frank J. Fahrenkopf Jr., also argued for this regulation, and stated that once approved the AGA can support and ensure the regulation of internet gambling, since they know how the licensed gaming firms in the US function. This will ensure safe and responsible usage of the service, along with customer protection from fraud and it will also increase employment and revenue based on returns of the multi-billion dollar industry.
Nevada is the state wherein a bill to regulate intrastate internet poker was recently approved. Governor Brian Sandoval clearly states that he is in favor of internet gambling regulation and legalization. Nevada regulators can create rules for those approved bills only if internet poker is legalized in the country. The Governor believes that internet gambling is futuristic and promising and hopes that once legalized Nevada could set up the structure for licensing it out in the area.
Internet gambling can be regulated and controlled to an extent under the Internet Gambling Regulation, Consumer Protection, and Enforcement Act (H.R. 1174), which was incorporated as a legislation by the Representative John Campbell (R-CA), this year. This bill enforces a few controlling measures on internet gambling.
A market research organization projected figures in regards to US online gambling. They stated that due to the regulation of all forms of internet gambling other than sports wagering there would be a gross expenditure of $67 billion in five years’ time and this would create more than 25000 jobs. As of now, the country’s economy is not reaping the benefits of the US online poker market, which entirely goes to the offshore companies presently.