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Reinforcing Online Casinos

The whole of the US got a reminder this week that there are dangers to the online casino gambling industry – and more pointedly, that these dangers exist when the market is unregulated. The US internet gambling market is banned by the flawed UIGEA, and that is basically creating a regulatory black hole. The “Sixty Minutes” special that aired in the fall just aired again last Sunday. And although producers aimed some of the show at showing the dangers of the online casinos as a whole, really it just goes to prove the point that Barney Frank and those supporters in the US have been matra-ing –that the internet gambling industry is potentionally very harmful if the government doesn’t put protections in place.

The special was very hyped over the past year and a half as the producers of the show gathered information from the online casino gambling industry and really focused on the Absolute Poker scandal that rocked the foundation of the internet gambling industry. The show looks at the scandal, as well as the Ultimate Poker one that followed, and analyzes the effect of internet gambling on the population. The online casino industry really feared some negative backlash last fall when the show aired, but it could be a lot worse really.

And although the producers of the show did not entirely intend for it to act as a testament to the US need for new online casino gambling regulations, the first airing of the show boosted the support that Barney Frank was receiving for his campaigning efforts on behalf of a licensed and regulated internet gambling industry. Frank is the most active member of Congress on this issue, and the “Sixty Minutes” program would have been perfectly timed to coincide with the hearings that were to take place in Congress this week but have now been delayed.