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WASHINGTON, July 21 /PRNewswire-USNewswire/ — Dr. Jeffrey L. Derevensky, a leading professor at McGill University, contends that Rep. Spencer Bachus (R-Ala.) incorrectly cited the university’s research on gambling addiction in arguing for the continued prohibition on Internet gambling. Derevensky in fact believes that the regulation of online gambling is an opportunity to put in place safeguards to combat problem and underage gambling.

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WASHINGTON — If Internet gambling is legalized and taxed, Nevada could receive more than $300 million during the next decade to boost education and job training for foster children in the state, according to advocates of a bill introduced this week in the House.

Rep. Jim McDermott, D-Wash., who offered the bill, described it as a revision of legislation he introduced last year to tax Internet gambling companies if they are licensed and regulated by the Department of Treasury.

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At a time when most economic news is bleak, maybe we can take a tip from England, and the British Open bets that will be placed this week with that nation’s legal bookmakers. There, winnings are easily taxed.

Here? More and more sports wagering is conducted online, through offshore websites.

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Poker Players Alliance Executive Director John Pappas talks about the organization’s stance on the new legislation, which is now in its nascent state: “McDermott is on the tax writing committee in the U.S. House of Representatives and he’s been an advocate for extracting revenue from internet gambling.

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WASHINGTON, July 16 /PRNewswire-USNewswire/ — Rep. Jim McDermott (D-Wash.) introduced legislation yesterday that directs a potential $40 billion over the next 10 years to be spent on job training for those in the declining sectors of the economy and educational assistance for foster care youth. The legislation, Investing in our Human Resources Act of 2008 (H.R. 6501), would be funded through new revenue generated by regulated Internet gambling activities.

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According to Gordon Price, expert gambling analyst from CasinoGamblingWeb.com, Republican members of the United States congress, “overly influenced by the ignorance of the religious moralists of their party,” are opening up a corrupt industry to the American market.

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When trade emissaries from the European Union arrive in Washington later this month to talk to officials in Congress, the Justice Department, and other executive branch agencies, they’ll have some difficult questions to ask. In particular, they’ll ask about some gambling laws that rank among some the worst written sections of the United States Code. If things go poorly a trade conflict with vast implications for the United States banking sector could ensue.

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Barney Frank does not play poker or blackjack. The games bore him, and he thinks he would be terrible at them even if he tried. He’s never played a slot machine, doesn’t go to casinos, and has never tried to gamble online.

“I wouldn’t place a bet with your money,” he said.

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WASHINGTON — Despite a stunning setback in his effort to roll back a ban on Internet gambling, Rep. Barney Frank, D-Mass., says the issue is not going away.

“At this point, Im waiting to see what the Republicans, who voted against this, plan to do after getting the heat for killing it,” Frank said this week.

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