What is wrong with the UIGEA?

First of all, the way the bill was passed. in a last ditch effort in the dead of night at the end of the legislative session. In a political backdoor maneuver, it was attached to the totally unrelated, must-pass Safe Port Act. There was minimal debate on the issue, and many Senators were surprised to find out in the next day that they had voted to pass the act as part of the Safe Port Bill.

Some form of gambling is sanctioned by almost every state. Most Americans consider gambling a form of entertainment and treat it as such. The Internet is one of the primary technologies that American's use today to entertain themselves. An adult American citizen should have the right to spend his own money on the entertainment he chooses, in the privacy of his own home, as long as it doesn't infringe on another's rights.

The very idea that it is ok to burn $500 dollars worth of fossil fuel to drive across six states, to spend $350 a night on a $99 hotel room, pay $200 a ticket for over priced show tickets, and to lose half a years of your kids college tuition in a weekend is perfectly legal. However, to climb in bed in your pajamas in your own bedroom and play a $10 poker tournament on the Internet is engaging in criminal activity? It's Absurd!

Probation has already proved itself no cure for social issues,  it only allows organized criminal organizations to come in and flourish where legitimate, public companies openly competed against one another.

The real answer is regulation and taxation of companies providing American's with the entertainment choices they desire. In internet style gambling, every poker hand is recorded and documented, every dice roll, every sportsbet, every bingo ball on every game played every day. The technology of the Internet makes the monitoring and regulating of the games an easier matter than the traditional gambling available throughout the US.

The money for social programs that could be generated through the regulation and taxation, or even better yet the operation of worldwide internet gambling is mind boggling. What if the US government were to host a internet poker room and a stock exchange type Sportsbetting operation? The world would come to play! What could we completely fund from such a program?  Perhaps all of social security or a national health care plan.

The UIGEA, on the other hand will cost banks and financial instructions millions of dollars to  enforce the guidelines given them by the Federal Reserve to comply with this act. Who will ultimately foot the bill for that compliance? Every single American citizen whether he gambles or not.

The UIGEA was poorly conceived, poorly written and according to US Congressman Barney Frank," one of the
stupidest laws every passed". Quite simply it is bad law and should be repealed