During the tenure of Bush’s presidency, Unlawful Internet Gambling Act (UIGEA) was passed but was revoked later. This is an anti-gambling bill. It is meant for prohibiting transaction of money, from banking organizations for the sake of gambling.
UIGEA had been encumbrance to the banking agencies, demanding not to aid for gambling related activities. But, the law failed to actually define which activities fall under gambling and which do not. In financial crisis, banking systems could not spend time in enforcing such an unspecific law. Besides, the banking systems feel that it is more or less impossible to differentiate games as legal and illegal, especially when it comes to horse racing, interstate lotteries and fantasy sports. The worst part was that the banking agencies were ordered to bear the cost of implementation of the law.
Basically, gambling for online poker games is an illegal activity. But, this law had some provisions to promote such kind of games. This created a strong chaos in the minds of people. Besides, there was an additional confusion whether online poker was a game of ‘skill’ or ‘chance’. However, even if it is admitted to be a game of ‘skill’, chance equally influences the game.
As a solution for the national debt and budget deficit, there was a need to create regulations for online poker games, which can in turn mint revenue for the nation in the form of tax. As a result the problem of national debt and budget deficit can be dealt with, to some extent. Anyway, there is a high chance that the government will lose the revenue received from casinos. This is one of the main reasons why government has been delaying the process of regulating and legalizing ‘online’ poker games. Land-based casinos had been aiding UIGEA to some extent. In fact, casinos are facing dull time, since they have already lost most of their visitors due to online poker games (even before creating the regulations!).
Over and above, underage gambling activities are being carried in online poker rooms, since some poker rooms fail to verify the age of the participant. Lastly, completely prohibiting online poker games, is deemed to snatch the freedom of internet users by dictating them what has to be done and what not, with the internet and money!
In conclusion, online poker industry ought to be legalized and regulated, taking all the above points into consideration.
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