Internet Gambling Bill Has Dim Prospects

Pokernews.com is reporting that the internet gambling and taxation legislation proposed by Rep. Jim McDermott is not likely to move forward before the November election. Historically, not much legislation gets done in "lame duck" sessions, so the prospects for federal legislation to allow internet gambling are pretty dim.

In addition, I'm not aware that the Senate has any sponsors for the bill on their side. Both houses of Congress need to pass the legislation before heading to the White House for signature. With the election and not enough traction, I think we're not going to see a legalized and regulated internet gambling structure from the federal level anytime soon. If it happens, it will have to be at the state level or from the Indian tribes.

As is expected, Republicans will take over control of the House of Representatives. Historically, Republicans aren't in favor of internet gambling. That should put the prospect of federally regulated internet gambling on the back burner for several more years, or until the budget situation is so bad, that the money will just be too attractive to resist.