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The sluggish economy could indeed be the savior of online casinos and online casinos may be the savior of the economy.  A bill introduced by Barney Frank, the Chairmen of the House of Representatives Financial Services Committee, may overturn the Unlawful Internet Gambling Enforcement Act.  This repeal will not only appease the demands of the European Union but, perhaps, help stimulate the economy.  According to a spokes person for Rep. Barney Frank “The bill introduction should happen in the next month.”

Online casinos and Internet gambling may be the multibillion dollar industry needed to help kick start the American economy.  In order for that to happen Federal legislators must overturn the Unlawful Internet Gambling Enforcement Act, a law passed during the Bush Administration, and regulate online casinos in the United States. 

While this action will help the economy it should also help international relations with Europe.  The Unlawful Internet Gambling Enforcement Act has largely been considered an act of protectionism by the international community.  The European Union is in the process of filing another complaint against the United States to the World Trade Organization for its policies against online casinos.

“Mr. Frank will bring back legislation to repeal the Unlawful Internet Gambling Enforcement Act,” stated the spokesman.

If the United States Congress follows through and online casinos are regulated, the country stands to earn billion from taxation and regulation of the industry.  Companies lost billions of dollars in market value when the Unlawful Internet Gambling Enforcement Act pulled the United States out of the online casino market.

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