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Cashing in on Online Gambling

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    Former Senator Al D’Amato on whether we need a nationwide federal push to allow online gambling.

  • Duration 3:51
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This transcript is automatically generated

Ice -- -- on online gambling Internet gambling legal now and only three states.

But that soon could change in some public companies are ready to jump -- Pushing for national online poker wagering.

We have former senator Al D'Amato chairman of the poker player -- That's what I understand play poker player yourself as -- a number of members of of congress to ten million Americans play online poker we got three states -- say it's OK so far.

Do we need a nationwide federal push.

That would be the way to go.

And you would let states opt in nor out so that the -- -- who opposed to a they can opt out -- -- now we don't wanna be part of it but you know you want good regulation 21 she did gain shall -- and by the way.

There's lots of revenue to can be raised.

And when we talk about the Internet we using it for everything.

So imagine what we're saying is fitted for the 21 century let people play they're playing through out the world on the Internet.

And the -- initiated on this game show on us.

Have a regulatory system that which -- rather easy to set up.

Particularly.

Federal government to raise two to three billion dollars a year.

In taxes.

And you were only up twenty years behind on this into the online's been around since the ninety's now -- group poker players alliance is funded in part.

By offshore gambling large companies rather than by incumbent casino companies like Las Vegas Sands and Wynn Resorts here in the US.

-- that incumbent casinos the giants are they.

An obstacle to getting broader approval poker online -- are they and -- -- in general they have been up until we should do you polish -- they see it coming they see the move taking place and you'll see them.

Beginning to get involved they're going to have to get involved.

-- will otherwise is going to take place state by state.

But I have I want to commend the governor of New Jersey in the legislature.

For moving forward if they just approved a law and get that law favors the incumbent casinos in Atlantic City it says before I can open up -- gambling parlor online I have to have one of those standing casino licenses throughout bad -- -- not a bad thing goes initially it makes you an easier job for them to -- that the people who are in this business have already.

Met certain standard showed a pretty rigorous standards to have to meet.

So I think that's a good way to start this it will be broadened in the fullness of kinda.

What if you're going to start you wanna make sure that whoever reputable operators and in 2011 in the Justice Department southern district Manhattan on its -- -- after the three most popular web -- for poker and shut down filled full tilt toward -- it's easy money and then you broke back then that justices quote making millions of Americans victims and attempt to make online -- illegal without the support of legislators or the public.

Has justice eased off now or they still a problem well.

-- law.

It shelf is one.

That is full of loopholes.

And was never intended really to regulate the -- that they're operating umbrella under never intended to.

Prohibit.

The the kind of thing that we see today on the Internet they're talking about the -- of the the news utilization of a lot of was passed.

Back in a thirty as the current warriors yeah but does -- get it again -- back -- if justice is beginning -- get -- and by the way they just as did the right thing in going after some.

Of those companies.

Who took money that belonged to the players and distributed within the company I got -- although they casinos they take your money anyway.

-- -- -- -- to cut poker -- -- thanks for being with us senator D'Amato appreciated their effect.

Disease are well well.

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