TIME TO FOLD ON INTERNET GAMBLING SAYS WSJ - Online-Casinos.com

Barney Frank may be on to something by introduced a bill to regulate online gambling, says US business journal.

The internationally respected US business and financial publication the Wall Street Journal appears to approve of the idea of regulated and licensed online gambling in an op-ed article this week, observing that Congressman Barney Frank's Internet Gambling Regulation and Enforcement Act proposal could resolve several problems now facing the US as a consequence of its anti-online gambling legislative policy.

The journal summarised the various problems confronting US enforcement and banking authorities as a result of the Unlawful Internet Gambling Enforcement Act introduced in October 2006, and the consequences it has generated in terms of World Trade Organisation actions against the United States, and difficulties in implementation being experienced by the authorities and the American financial industry.

"For a change, the Europeans stand on the side of free trade, while America dabbles in regulatory overreach," the article observes, going on to describe the international litigation against the USA, notably by the European Union on grounds that US policy discriminates against European companies unfairly.

"Brussels is making a narrow legal point that Washington discriminates against Europeans by simultaneously permitting U.S. Internet horse betting. That's against World Trade Organization rules," the article comments before describing previous US defeats in the WTO at the hands of Antigua and Barbuda in its long-running dispute over Internet gambling restrictions.

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