The whole world of virtual casinos comes to a standstill, when the conversation turns to the point when online gambling in the USA will become legal and whether it will happen or not. The answers to these topical questions are still not on the surface, though there are some positive trends in this sphere. Letâ€™s turn exactly to what has happened during this Summer.
First of all, positive news arrived from Democrat House Representative from Washington, Jim McDermott. He introduced a companion bill to the HR 2267 called the Internet Gambling Regulation and Tax Enforcement Act of 2010 or the HR 4976. Its main aim is to set regulations in the sphere of taxation. So according to the bill all gambling operators at the territory of the USA are to pay high taxes. Moreover, then how these taxes are spent should be under strict control. Arbitrage betting is getting popular day by day. Everyone is found following this method. Because investing in different outcomes in one go helps in maintaining the loss and profits ratios. Even if you lose in some, the chances of making profits still remain high. So follow this method to get more money than facing losses only.
As a matter of fact, the HR 4976 may help to push Barney Frankâ€™s bill forward. By the way, he himself said that it would be of no reason in hearing these two bills separately, as they are closely connected with each other, and many people supported his point of view. But again there is a problem, as the HR 4976 should be firstly marked up by the House Ways and Means Committee, and this hearing is postponed due to the elections in November.
Second, good news came from the House Financial Service Committee, which in July marked up the bill HR 2267. It was not the first effort of Barney Frank, but all previous ones finally came to grief. However, it is just the middle of the hard road to complete legalization of online casinos and poker rooms in the USA. After it, the bill should go to the full House, then to the Senate and then be signed by the President. And the last part is the most difficult one.
It has become known from the first-hand source that hearing by the full House wonâ€™t take place until November, as its schedule is cramped due to forthcoming mid-term elections. There is a loophole, but there are no guarantees that it will work in the end.
And even if the full hearing will take place before the elections, then the bills should be passed to the Senate, where Senate Majority Leader Democrat Harry Reid holds the key and his support will be necessary for a final decision. The problem is that Harry Reid comes from Nevada, the state of land-based casinos and he is not ready to do any harm to them or take away working places. However, land-based casinos are also divided into two groups, as the part of them would like to establish their own gambling sites and the other is strongly against such turn of events. What way Senator Reid will take, nobody knows.