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Online Gambling: Lessons from the Internet and Bookmaking

POLICY FORUM
Thursday, October 23, 2003
11:45 am

Featuring Rep. Barney Frank (D-Mass.); Koleman Strumpf, UNC Chapel Hill; Raymond Sauer, Clemson University; and Robin Hanson, George Mason University.

The Cato Institute
1000 Massachusetts Avenue, NW
Washington, DC 20001

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Sports wagering is big business in the U.S., with current estimates at over $100 billion in bets per year. Because sports betting is illegal in all but a few states, most of those wagers are placed with local illegal bookmaking organizations. Recently a growing portion of those sports wagers are being placed over the Internet with organizations outside the U.S. The federal government is pursuing several options to eliminate Internet betting.

This panel will discuss whether regulation of this new form of wagering is possible, drawing on research and practical experience. Topics will include lessons from illegal bookmaking and Prohibition, the manner in which the Internet architecture makes government intervention more difficult, the manner in which current Internet operations are run, and the future of sports betting.