Rep. Barney Frank’s new bill and the revenue it could bring:

So in our last article I touched on Rep Frank’s Bill but now I would like to go into a little more detail on what this bill could do for US gamblers or even the US as a whole. The bill will be introduced around April 20 which is fast approaching and this will be an interesting bill to watch. Rep. Franks has made it known that he won’t make the bill a rider to any critical legislation unlike the Republicans sneaky move in 2006. Everyone remembers how the UIEGA was passed, as a rider on the Safe Port Act during wee hours of the night. Franks has made it clear he wants this legislation to be discussed, with hearings, and a vote on the legislation itself not something it’s attached too.
The new bill has not yet been released but the speculations are that it will remove the ban for online gambling, regulate it, and finally tax it. This seems to be the best move that could possibly happen for both the government and the US players. On one hand the US players will once again play in rebuttable casinos and poker rooms with the government reaping in the tax benefits. According to PricewaterhouseCoopers, the US could collect up to $52 billion over the next ten years off of online gambling. Now looking at the US economy, if not the world economy at this point, it seems like this is money that could be well used. So legalizing online gambling is really the only logical thing to do, as all eyes turn to Washington once again all we can do is wait and see.