Legalizing and regulating Internet gambling is the best stance the U.S. government could adopt to reduce any threat posed by Internet gambling. The UIGEA’s asserted benefits do not justify its cost on financial institutions and consumers. The government should enforce a regulatory scheme that forces Internet gambling operators to follow stringent standards while paying taxes. Congress could also transform the industry into a “pay-to-bet” scheme that would force Internet casinos to maintain a license. This is the best situation for the United States because it increases tax revenues and forces Internet gambling Web sites to eliminate morally offensive underage gambling. New regulation will solve the question of the UIGEA’s constitutionality without subverting any state regulations. For these reasons, this type of regulation should be adopted in lieu of the current regime under the UIGEA.
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Topics: Internet Gambling, UIGEA
Published In: Art, Entertainment & Sports Updates, Tax Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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