gambling

Online gambling could generate $52 billion in revenue in the U.S. over the next ten years if the three-year-old-ban on Internet gambling was repealed and the government taxed the industry, according to a new study. The study by accounting firm PricewaterhouseCoopers could influence Congress to lift the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA).

Though Representative Barney Frank has gotten most of his attention due to his role in handling the economic crisis, the chairman of the House Financial Services Committee is also known for his nearly lone opposition to the Unlawful Internet Gambling Enforcement Act, almost unanimously passed in late 2006. Frank is holding steady on that opposition and, according to Reuters, will introduce legislation next month to repeal that law.

The Kentucky Court of Appeals ruled late Tuesday that the state could not seize 141 online gambling domains because they do not constitute a gambling device under Kentucky law.The ruling overturns a controversial decision made by Franklin County Circuit Court Judge Thomas Wingate in October that said online gambling domains could be seized by the state because the domains were illegal gambling devices that violated Kentucky law.

The U.S. Department of the Treasury and the Federal Reserve have issued the final rule to implement the controversial Unlawful Internet Gambling Enforcement Act (UIGEA).The Act prohibits gambling businesses from accepting payments from unlawful Internet gambling sites, including payments made with credit cards, electronic funds transfers, and checks.

The Bush Administration is working to finalize regulations to enforce a ban on Internet gambling despite concerns raised by banks calling the regulations ambiguous, burdensome and unlikely to stop Americans from gambling online.

 Murdok has just received the 44-page order and opinion from Franklin County Circuit Court Judge Thomas Wingate regarding the seizure of 141 online gambling domain names.Like China, Kentucky is now trampling on the freedoms of the citizens of the Commonwealth by blocking domains that are legal in most parts of the world.

The Interactive Media Entertainment & Gaming Association (iMEGA) a nonprofit corporation, has filed a brief with the US Court of Appeals, 3rd Circuit, in the matter of iMEGA v. Keisler, et al.

Kentucky Governor Steve Beshear has announced he wants to shut down 141 illegal Internet gambling sites in the state in an effort to stop unregulated online gaming.Beshear has filed a civil suit against the 141 domain names and is asking the court to force the sites to block access to Kentucky users or give up control of their domain names.