Just recently The US Department of Justice made almost every form of intrastate online gambling legal under Federal law. Sports’ betting is still illegal everywhere besides Nevada.

This was due to some digression about whether New York and Illinois selling lottery tickets to in-state adults violated any of the Federal Wire Act of 1961. The Dept. of Justice clarified the legality of online gambling, stating that interstate lotteries are still illegal, and poker is not a lottery under Federal law.

According to an article at news.google.com there are still several laws written in the Wire Act that are aimed at combating organized crime, much like the great online poker indictment that happened April 2011. On that fateful Friday three prominent online poker sites were seized by the Government and several players and companies lost millions of dollars. Online gambling Expert, and Law Professor at Whittier Law School, Nelson Rose is quoted saying: ““Congress will continue to do nothing while internet gambling will explode across the nation when it is made legal under state laws.” The online gambling industry is a cash cow, one that the Government does not feel the need to cash in on. Taxing and regulating online poker alone would produce around 6 billion dollars in one year. Many officials agree this is just what the “cash-strapped” economy needs, while others argue that by regulating online gambling the Government is essentially placing a “Federal stamp of approval” on the act.

States that have legalized intrastate games such as poker, like Washington DC and Nevada, run the risk of getting in trouble for interstate gambling due to the fact that there is no federal law for online gambling.

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Ira Rubin Pleaded Guilty

Ira Rubin Pleaded guilty last month to several counts related to breaking US gambling laws while deceiving several US banks. Rubin, who has been living in Costa Rica for the past several years due to telemarketing fraud charges, assisted the three major sites involved in the indictment last April 15th. Rubin pleaded guilty to one count of breaking US laws against internet gambling and one count each of conspiracy to commit bank and wire fraud, and also participating in a money laundering conspiracy.

The three sites involved were Absolute Poker, PokerStars and Fully Tilt Poker. Along with Rubin, Brent Beckley, co-owner of Absolute Poker also pleaded guilty to similar charges late last year.

According to this article: http://blogs.wsj.com/corruption-currents/2012/01/17/man-pleads-guilty-in-us-internet-gambling-crackdown/ Rubin helped the sites transfers tens of millions of dollars in illegal gambling wagers. Currently the US Government does not regulate online gambling. That fateful April day that left visitors an all black screen informing them that the domain had been seized by the Government was a disturbing realization that the online gambling industry needs a little bit of Government regulation. In fact, the online gambling industry may be the only industry vying for the Government to get involved.

It’s no surprise that the “cash-strapped” economy couldn’t use the 40 billion dollars in tax revenue that could be generated in just ten short years on just poker. If the whole industry were to be taxed it could make a significant dent in the US debt. The only question not if, but when?