Online Casino Edition – Casino News News about online casinos and gambling

Many US residents and lawmakers are of the opinion that the US government has turned down an opportunity to create thousands of jobs in the country even as they brace up for the State of the Union address by the President. The President is expected to discuss a number of hot topics with creation of new jobs topping the agenda.

Thousands of jobs could have been there for the asking for US residents if online gambling regulation bill brought to the table by Representative Barney Frank and Senator Harry Reid had become a law. It would have changed the lives of thousands of unemployed Americans.

According to gaming analyst Steve Schwartz, the online gambling industry is one of the most profitable industries in the world. Regulations of the gambling industry at the federal and state level can assist the government create a million plus jobs within the industry.

Under the plans that have been put up for approval, all online gaming companies would have got the requisite licenses to operate legally in the US. This would have brought in foreign companies and their need for staff to handle hundreds of operations. The promise of creating more than a million jobs as estimated by Steve Schwartz does not look much off the mark under the present circumstances.

While lawmakers from the US irrespective of their political affiliations are truly serious about their efforts to generate new jobs, they do not seem to be interested in tapping into the huge potential of job generation that the internet gambling market can offer. The online gambling market in the US has largely remained unexplored by the federal government.

Supporters of the online casino legalization bill have tried every trick in the book to make the decision makers see sense in the tremendous potential of this untapped pool of revenue and job generation. As it stands today, all US customers must send their money overseas to be able to play at their favorite online poker sites.

The President is also expected to speak in the State of the Union address about reducing the deficit. This is another area where legalizing of online gaming industry can help to a great extent. Regulating the online gambling industry can literally bring in billions of dollars to the government coffers and can help the government have a better control on the rickety economic situation.

Bipartisan support is the biggest stumbling block in getting the online gambling bills passed. Many conservatives have in the recent past shown signs of being positive in making some changes to the current online gambling laws. However, when it comes to the crunch, their commitment levels falls much short of expectations. Gambling prohibition is a top of hot discussion whenever there is a debate about the economic affairs of the country.

The key word is cooperation. Unless both parties come together on a common platform, the online gambling legalization bill will continue to flounder at the post as it has done so many times in the past. The President is expected to stress on the need to make a definitive move on the issue at the earliest. The need for cooperation is central to providing millions of online poker players the protection that they deserve while playing online.

Online gambling enthusiasts in the U.S can now look forward to a great year in 2011 and towards 2012. The absence of any gambling related legislation getting passed during the just concluded lame-duck session has pushed away any chances of the gambling legislation coming into effect the coming year.

For most online players, this essentially means that their skills will continue to be well compensated. The bill that Senator Harry Reid has been pushing for would have halted all online poker action for more than 18 months. It was therefore quite unlikely that online gambling companies would have continued to patronize American clients as this would have meant risking their license. It is been observed that the bill introduced by Senator Reid has many flaws. Even those lawmakers who are strongly in favor of online gambling legislation point out that the Reid bill will in only help the bigger establishments located ostensibly in Las Vegas and Atlantic City. It is speculated in political circles that there is more than meets the eye as far as not taking up the online gambling bill in the current session is concerned.

The biggest piece of legislation that was passed in the lame duck session was the tax cuts bill. It is being argued that Senator Reid could have attached the online poker bill to the tax cuts legislation which needed to be passed at all costs. However, Republicans who were well aware of such a move was being planned long before the session began took the appropriate steps to get it stalled before it could be put up for vote.

Online gamblers are not too bothered by the development. For several years now, they have enjoyed their online gambling games without being protected by any legislation. That’s how they like it and hope to continue without being harassed by unnecessary and restrictive legislation. They are well aware of the fact that the Conservatives who have gained control of the house during the November mid-term election have amongst them some of the biggest anti-legislation crusaders. This would make it highly unlikely for the online gambling legislation to come into effect at an early date.

Representative Barney Frank is among those few senators who have made continuous and sustained efforts to have the Unlawful Internet Gambling Enforcement Act of 2006 turned back. The effort has met with little success despite some dogged persistence. His bill appears as good as dead with his loss of control in the House Finance Committee, though it has passed the Committee.

There is more news about online gambling legislation emerging from North Carolina. The state is facing a huge multi-billion dollar deficit forcing Governor Bev Perdue to explore gambling legislation as an option to generate more revenue for the state and bridge the huge fiscal gap. Online gambling is thriving in North Carolina. There is however, a huge question mark over the legality of these gambling outlets the state is not many any tax money from these gambling establishments. There has been a persistent effort by the authorities to shut down many such gambling outlets but for every unit closed, there are many more that opens at different locations in the state.

The Governor believes that providing licenses to these outlets can help the state authorities’ control them better while earning great revenues for them at the same time.