Internet Gaming Bill Introduced in the US
Posted on May 13th, 2009
The global recession has created many winners and losers. In the UK online bingo has been a big winner during the ongoing recession. Not only in the internet bingo industry thriving in the UK, it is one of the few industries experiencing growth and creating new employment opportunities. Across the Atlantic internet bingo has not fared well since the passage of laws that prohibit US financial institutions from processing transactions related to internet gambling including internet bingo.
The recent unveiling of a bill by US Congressman Barnet Frank that would legalize, tax, and regulate internet gaming indicates that there is strong support for the legalization of internet bingo in the US. This is good news for internet bingo providers. Frank’s bill could re-open the US internet bingo market. Land based bingo in both the US and the UK face similar problems largely caused by smoking bans. Many land based players in the US have indicated a willingness to switch to internet bingo once it becomes widely available.
While Frank’s bill has a lot of support there is also strong opposition from the powerful anti gambling lobby. Also the new Obama administration faces a severe economic recession and re-legalizing internet bingo and gambling is hardly likely to be a high priority. There have been suggestions that Frank could use the same tactic used to make internet gaming illegal by tacking his bill on to an unrelated stimulus bill.
Should Frank’s bill pass it would create a unique opportunity for online UK bingo providers. Internet bingo sites in the UK are highly regulated and are seen as safe and above board. This makes UK licensed internet bingo websites attractive for US players who would be looking for reputable places to play their favorite game online. The illegality of internet bingo in the US actually puts US players at risk. Many sites that currently accept US players may not be properly licensed or may be licensed in a jurisdiction where rules are either loose or nonexistent.
Most industry experts believe that the US will soon tax and regulate online gaming including internet bingo. Bingo websites will compete for US players by offering larger bingo bonuses, more games, and more player perks. Player perks usually include a bingo sign up bonus and a bingo deposit bonus. Bingo sites are ready for new American players.
Hopefully Congressman Frank’s bill will overcome its opposition and US internet bingo players can once again enjoy their favorite game without worry.
