By guest host Jane Clayson:
Billions of American dollars are spent every year at offshore internet gambling sites, but Congress is trying to stamp out this steady flow of online gambling money.
On September 30, the last day before adjourning for midterm elections, Congress passed the Unlawful Internet Gambling Enforcement Act — making it a crime for financial institutions to transfer funds to Americans betting online.
The industry felt the shockwaves and stock prices for big companies like PartyGaming, 888 Holdings, and SportingBet tanked. Some praise the legislation as a first step, but others say the bill is worthless and easy to circumvent.
Hear about Congress’s effort to ban online gambling.
Guests:
Jessica Vascellaro, Wall Street Journal Reporter.
Representative Jim Leach (R-IA).;
Sue Schneider, President and CEO of River City Group.
John Kindt, Professor of Business and Legal Policy at the University of Illinois Urbana-Champaign.
