Licensing, Not Prohibition, Is Best Approach to Online Gambling, Some Say

By Brian Monroe

Legalizing and regulating Internet gambling will help eliminate a forum terrorists use to finance their operations, say gambling experts and opponents of a U.S. ban on online betting. In October, the U.S. prohibited financial institutions from knowingly taking funds from Internet gambling operations or facilitating transactions for such businesses partly out of concern that criminals and terrorists might use the industry to move their money. But the U.S. measure could make it easier for money launderers to carry out their plots because as large public companies exit the illegal business, they are replaced by smaller, less-reputable companies based in countries...