Effect of Law Against On-Line Gambling | IXGAMES

Gaming industry leaders say Internet gambling will thrive despite a recent law effectively barring online betting in the United States. In October, President Bush signed legislation making it illegal for U.S. banks and credit card companies to process payments to gambling Websites But some traditional U.S. casino operators view the rules as temporary and say a shift away from online gaming is unlikely over the long-term. In 2005, Americans bet $8 million at Websites. But legislation passed by the U.S. Congress has made it harder to gamble online — at least for now. Industry leaders, like Frank Fahrenkopf doubt it will be enough to stop U.S. gamblers. “I think what’s going to happen is, number one, they will continue to bet. They’ll find other means to get their money to these offshore sites”. In Las Vegas, the home of American gambling, there’s a different view of the ‘Unlawful Internet Gambling Enforcement Act’ from the one in Washington. While lawmakers aim to curb online gaming, Vegas is skeptical. Casino operators believe demand will force Congress to permit online gambling — under strict government supervision. As U.S. officials work toward a June 2007 deadline to find ways to enforce the new rules – other countries are easing restrictions. The U.K. is looking to regulate rather than restrict online gaming, bolstering the hopes of Internet gambling businesses. Britain has warned that the U.S. legislation could drive the industry underground. The casino industry, fearing competition, has not always supported online gambling but now it sees the Internet as a way to attract new gamblers. For now the U.S. government is pressing ahead — first it must find out how to distinguish Internet gambling payments from other transactions in order to block them. But the American Gaming Association estimates $5 billion is still being bet online by U.S. residents — a number it believes is unlikely to go down, whatever action Congress decides to take next.