Tax Online Gambling Instead Of Banning It
U.S. Representatives Steve Israel and Pete King (R-NY) published an engaging editorial in the NewYork Post yesterday outlining why they are such staunch supporters to regulate and tax online poker and online gambling instead of banning it. Under Frank’s bill, online gambling would be licensed and regulated by the Financial Crimes Enforcement Network and exempt from the Unlawful Internet Gambling Enforcement Act (UIGEA). It would also be taxed. (Simply taxing Web betting would generate significant revenues that could be used for a variety of domestic priorities). 
US residents will always find ways to gamble online! (In the end -Â there is the question of how much we want government to be involved in our private lives: For many, playing poker with friends on the Internet is a way to unwind at the end of the day. Technology aside, Web gambling isn’t so different than the way Americans have relaxed and enjoyed the company of friends for decades) In Britain -Â where Internet gambling is legal and regulated, technology checks ensure that gamblers are of age and are not problem gamblers: watch lists work to prevent money-laundering.