On the recordJune 10, 2003
I am pleased to support it, the Unlawful Internet Gambling Funding Prohibition Act, because it is an important first step in the fight against Internet gambling. It hits illegal gambling institutions where it hurts the most: their pockets. By shutting off the financial lifeblood of this illegal industry, this bill will help to starve out unlawful Internet gambling sites and in the process close off opportunities for money launderers, terrorists, and organized crime. Gambling on the Internet has become an extremely lucrative business. The Internet gambling industry revenues grew from $445 million in 1997 to an estimated $4.2 billion this year. Furthermore, industry analysts estimate that Internet gambling could soon easily become a $10 billion a year industry. The problems with Internet gambling are many. The instant access to online gambling is particularly disturbing. This illegal activity is available to adults and children alike with the simple click of a mouse. In addition, the social problems associated with traditional forms of gambling have increased with the proliferation of Internet gambling.
Source
govinfo.gov




