Legalized Online Gambling: New Gold Mine for State Governments?
The Obama Administration has re-interpreted the Wire Act of 1961. Under the previous interpretation of this law, ALL online gambling has been prohibited, period. With the Justice Department’s new interpretation, the Wire Act only applies to bets on sporting events or contests. Everything else — lottery tickets, Internet poker, etc. — is now up to each individual state.
I. Nelson Rose, a gaming law expert, said:
“The United States Department of Justice has given the online gaming community a big, big present” and that the Justice Department’s new interpretation will eliminate “almost every federal anti-gambling law that could apply to gaming that is legal under state laws.”
Theoretically, state governments will be able to bring in another huge source of revenue by legalizing Internet poker or creating online lotteries.
Think it’ll work this way?