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8 Reasons Not to Ban Online Gambling

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Chasse Rehwinkel

I gamble, therefore I write...or I write, therefore I gamble...honestly, they're pretty similar professions…

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As reported in the Tribune this past Saturday, November 28, the U.S. Treasury Department and the Federal Reserve are extending the date for U.S. based financial institutions to comply with new anti-internet gambling regulations by six months. Both sides of the debate have listed plenty of reasons why internet gambling should or should not be legal, so I decided to share with you, the readers, eight reasons why I believe internet gambling should not be banned.

The move would make it difficult, if not impossible, to transfer money to and from online betting sites, effectively ending online casinos from hosting American players.

Let me make it clear, however, that online gambling is still a debated term and multiple institutions have come forward to question whether certain games of skill, such as poker, count under the new regulations--by the way, the already taxed gambling institutions of horse betting and state lotteries don't count in the new federal ban.

That being said, what is being proposed could, in effect, cripple the internet gambling industry, a industry that has roughly half of it's revenue stream based in the United States.The move would make it difficult, if not impossible, to transfer money to and from online betting sites, effectively ending online casinos from hosting American players.

 

 

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3 Comments

Fernando Diaz said:

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Isn't the stock market basically a the world's largest casino? This wouldn't apply to the E-Trade and Ameritrade folks, right? Cuz it should. What's good for the goose...

Chasse Rehwinkel said:

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Plus I love how online horse betting and lotteries don't count in the restrictions either...incredibly hypocritical.

Goose said:

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The American Government: If you can't tax it, destroy it.

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