Obama Gives A Huge Gift To The Online Gambling Industry

BI:  A Justice Department opinion made public this week provides a huge opening for the online gambling industry.

Online gambling in all forms has been prohibited by the Wire Act of 1961, which forbids gambling via telecommunications across state lines.

The new opinion, however, says that the act applies only to sports betting.

Online lotteries in New York and Illinois are on the table now. This could open the door for online gambling -- which was slammed by the DoJ only months.

Online gambling provides an easy revenue source for beleaguered states. Similarly the DoJ has pursued new revenue by authorizing new powers for investigating tax dodgers from California to Switzerland.

Read more: https://www.businessinsider.com/obama-gives-a-huge-gift-to-the-online-gambling-industry-2011-12#ixzz1hnHMRMSL