| President Obama should in fact legalize online gambling | | | | politicians argued the case as the industry would |
| for numerous reasons. The first and most important | | | | indeed earn billions for the government if properly |
| one is that by prohibiting it, Americans who have the | | | | regulated the industry, but the bills that were |
| means to still gamble amidst the prohibition are doing | | | | recently put into motion such as the one from |
| so by using illegal internet casinos, some of which are | | | | Barney Frank (HR 5767) fell just short of acceptance. |
| used by Al Qaeda to launder money, and foment | | | | Some Americans who actually have the means to |
| terrorism growth and operations. The other major | | | | open foreign accounts and who actually really do |
| reason is that the economy will benefit as billions in | | | | want to gamble do so anyway in today's world as |
| taxes will be generated from this regulation, not to | | | | the ban is not properly put into place, and the worst |
| mention thousands of jobs. The economy is in its | | | | part of this issue is that the government could be |
| worse shape this generation has seen on a global | | | | making billions if they properly looked at the industry, |
| basis. The credit crisis has hit so hard, that even | | | | and regulated it and taxed it instead of negligently |
| former FED chair Alan Greenspan has come out to | | | | banning it. This of course is the main issue as to why |
| say he was wrong about certain maneuvers that | | | | President Obama would indeed legalize the industry |
| were taken place during his latest term as FED chair. | | | | given the fact that the economy has been hit in a |
| Major corporations are cutting jobs, others have | | | | sharp manner in his country, and legal entities struggle |
| gone bankrupt, countries such as Argentina and other | | | | to survive. In fact, Mr. Obama is in favor of this |
| second world countries have called for help to the | | | | industry being legalized as he has voted IN FAVOR |
| International Monetary Fund. Goldman Sachs, the | | | | to government regulation in recent industry related |
| premier investment banking firm in the world has | | | | bills. |
| declared it will cut its workforce. And lastly, chartists | | | | His favorable view along with an economic recession |
| and speculators claim the DOW might fall below 5,000 | | | | leading into depression might indeed make for a |
| over the course of the 09-10 leaving all value behind. | | | | perfect storm leading the government into regulation |
| To put it simply, the world is REALLY becoming a | | | | and the cessation of the UIGEA ban not to mention |
| difficult place to live as companies and governments | | | | a stop of funding terrorism bt Americans using illegal |
| struggle to make ends meet all across the board. As | | | | terrorist owned casinos. This point alone combined |
| far as the online gambling industry is concerned, it | | | | with the fact that the European Commission has |
| was legal for its citizens to play and it was also legal | | | | recently formally complained to the World Trade |
| to advertise online. This until 2004, when a bill called | | | | Organization regarding the fact that the USA is acting |
| the UIGEA (Unlawful Internet Gambling Act) was | | | | in an illegal manner by banning foreign companies to |
| passed by Congress, therefore making the whole | | | | trade in their soil (the agreement binds the USA to |
| industry illegal. After this took place, many major | | | | let this industry and others into action in the US |
| corporations went broke, and a lot lost a high | | | | market) are two major points that the new US |
| percentage of income as US citizens were simply not | | | | government will have in favor to lift the ban. |
| allowed to play and gamble online. Numerous | | | | |