A shift in political winds combined with a crumbling economy could help pave the way for the return of legalized online gaming to the U.S., possibly as early as later this year.
Mark Ament of SportsBiz reports on a series of developments that would overturn actions in 2006 by the Bush Administration and Republican Congress that led to the passage of the Unlawful Internet Gambling Enforcement Act.
House Financial Services Committee Chairman Barney Frank plans to introduce a bill this month to repeal UIGEA and establish a regulatory framework within which online gaming could legally operate and be regulated by the federal government.
There could be financial incentive to pass the bill. The international accounting firm PricewaterhouseCoopers estimated that the U.S. could likely receive up to $52 billion in tax revenue over a 10-year period by legalizing and regulating online gaming.
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