Move by British lawmakers to legalize and
regulate online gambling businesses sure to anger American counterparts.
The move by the British seems aimed at grabbing a slice of a
$7.5 billion pie, one that is moving toward doubling in five years.
But in the United States, online gambling remains illegal, though an
estimated 20 million Americans bet over the Internet on everything from
power to NCAA basketball.
The rest of Europe may have its concerns over the British move as well.
In some countries, casinos are run by or linked deeply into governments.
Money moving online takes away from those casinos.
Arguments by the US government about online casinos offering safe haven
for money launderers underscores the point made by those in favor of
legalization. By making it legal and regulating (and taxing) online
casinos, they can keep an eye out for illegal activities.