"Prohibition Era lessons be damned," was the message of US Congress as they approved the Unlawful Internet Gambling Enforcement Act (UIGEA) in October of
2006. The bill, effectively outlawing online gambling in the United States, is seen by many as an outdated fearful reaction to the perceived social threat espoused by opponents to any form of gaming. Or leisure, for that matter.
The Last Laugh
Not that this is a laughing matter, but what the fat white men on Capital Hill seem to be missing is the long term economic effects that are only beginning to be realized, according to a recent study by Eli Lehrer, a senior fellow at the Competitive Enterprise Institute of Washington, DC. According to the study, the UIGEA "seems unlikely to stop Internet gambling and could even threaten the stable, smooth operation of America's banking system. UIGEA and its currently proposed enabling regulations will undermine the financial privacy of all Americans and reduce the security of their bank accounts."
"Exaggeration", you declare? Consider the facts:
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