US Congress Changes Could Affect Online Gambling

The new United States Congress could also mean a new approach to online gambling and the laws that are related to it. The Republicans passed a highly controversial law in 2006 that was signed by President George W. Bush that put serious restrictions on internet gambling and moving money to and from online casinos. Banks in the United States however immediately complained that the law was virtually impossible to enforce and that it was not cost effective to do so. Beyond that online casino payment method companies quickly developed ways around the law to make it worthless. With the United States Government facing serious deficits and a recession that has not gone away it is looking more possible that the new Republican Congress could work with Democrat President Barack Obama to lessen the restrictions.

While many Republicans remain opposed to easing restrictions there are more libertarian types within the party that argue that the 2006 law cost them support and a majority in the Congress.

Harry Reid, Democrat leader of the Senate, is also working to ease restrictions as the Las Vegas Gaming industry wants to expand into the online casino area to increase revenue as they believe that their businesses are being harmed by the growing industry online.

The government also realizes that there has been an INCREASE in online gambling activity since that 2006 law was passed and that they are passing up huge sources of potential revenue on a pointless law.

With the government needing money to close the gap of the red ink and with the online casino industry continuing to explode a compromise bill could be coming soon.