Online Gambling Ban could see an end in 2008

The so called 'Online Gambling Ban' that prohibits U.S. financial institutes from accepting
transactions to fund or withdraw money from online casinos may see an end in 2008 if certain
U.S. Representatives have their say. Democrat Steve Israel and Republican Pete King of New Jersey published an editorial in the New York Post recently, debating the Port Bill's
effectiveness. Instead, in their article "Web Gambling: Tax, Don't Ban", they review why they
are opposed to the bill, and are in support of regulating and taxing online gambling.

Perhaps their biggest arguments is that the U.S. Treasury Dept. has many more important
issues at hand than trying to monitor and disallow online casino gambling. Further discussed
is the fact that gamblers are going to gamble, whether it's at home on their computer, in
land based casinos or where ever the opportunity presents itself. Where there's a will
there's a way and without proper regulation there will be no safeguards in place where a
players personal and financial security are concerned.

Steve Israel and Pete King are not pushing for things to go back to the way things were
before the bill, but instead they want a framework to be set up under a bill they are putting
together, the Internet Gambling Regulation and Enforcement Act that would regulate and tax
the industry effectively.