Fahrenkopf Jr: Federal Bill taking too long to get passed

With a lot of money at stake, head of the main lobbying group of the gambling industry is sounding a pessimistic note with regards to the prospect of the online gambling regulatory laws getting passed this year by the Congress.

Frank Fahrenkopf Jr., chief of the American Gaming Associated, believes that the online wagering, which will be hosted by a number of sites in the coming period, is going to be the next frontier of the gambling industry in the country.

While answering questions of the reporters in Las Vegas, Fahrenkopt said that passing such a measure, which is being backed by Arizona’s Jon Kyl, Republican Senate, as well as Harry Reid, Senate and Democratic Majority Leader, would need quick action. He believes that things should be taken care of during the congressional session following the election.

During a media briefing, “We are going to need a lot of hard work to see the Federal Bill receive the green signal in this year. We would also need to have a bit of gambler’s luck as well. Obviously, there is no doubt that nothing can happen prior to the election. This means that only their lame session following the election is our chance to see the bill getting passed this year.”

Being a former national chairman of the Republican Party, Fahrenkopf said that around 85 nations have already legalized internet casino. Some of those casinos have also estimated that billions are on the cards to be pounced upon in the coming years including the millions contributed from US.

He said that the millions of dollars, as found out by H2 Gaming Capital, are generated by the minor participation of the US population. What would happen, if a chunk of people starts participating at online casinos across US following the federal bell?

Tweet