Anthon 08/15/2013

Congress is looking into the need for rules and regulations in the new online gambling market. According to experts, Internet gambling could easily grow out of control since Internet gambling regulations were loosened by Obama one and a half years ago. Presently, states that are eager to develop Internet gambling are unable to identify and fight fraudulent behavior in this realm. As a result, law enforcement officials and others are urging Congress to repair the Wire Act to account for the need for regulations.

Statue of Justice

Development is Slow.

Technological advancements are often quick to show up in the tool kits used by law enforcement agencies, particularly at local and state levels. Still, the need for modern safeguards against online money laundering is unlikely to be satisfied any time soon. Many expect development to take years, especially considering the complexity of money laundering that occurs across borders. As of now, many states still struggle to define regulations for bingo and other small community gambling events. For these reasons, federal action has been requested for help in regulating online gaming.

Evolution of Gambling

Some say that with the explosive growth occurring in online gambling, state enforcement is probably unrealistic. Instead, federal regulation is necessary. When the senate’s consumer protection subcommittee considered a hearing on Internet gambling recently, it was their first time doing so this session. According to some, lack of federal regulations could spur the uncontrolled growth of a massive new online gaming industry. Although online poker and other games aren’t going anywhere, federal gaming standards would serve consumers and create a practical framework for Native American tribes.

Founding Online Gambling Regulations

Thus far, most online gaming legislation is happening in cooperation with casino lobbyists and gaming advocates out of view of the public. Now, meetings are looking at how online gaming affects Native American tribes and establishing the need for federal regulations. As a result, a strong foundation has been laid for future efforts at controlling online gambling.

Slow Beginnings

Senators are working with corporations that own Las Vegas casinos as they lay the framework for a hopefully nationwide online poker market like the one in Nevada, where it is legal. One bill would make online poker legal, and another would legalize a wider range of Internet gambling games. At the same time, both of those bills make regulations that prohibit gambling addicts and minors from playing. Representatives from numerous casinos, both online and offline, are watching closely.

Lottery Industry Benefits

Some say that the Obama administration is behind the present uncertainty over online gambling. When this administration changed the 1961 Wire Act to only apply to sports gambling, lottery interests benefited in a big way. That industry has been looking at online lottery games after the revisions were passed on December 23, when most senators were not present to vote.

Many senators were surprised at the changes made by the Justice Department. Now, gambling is set to grow and change extensively for the foreseeable future. In order to keep online gambling under control, however, the federal government may need to determine the best ways of regulating the massive new market.