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House Gets Online Gambling Bill

Bloomberg News

A U.S. House committee approved a bill that would outlaw Internet casinos and most other forms of online gambling. The Judiciary Committee voted 21-8 to send the legislation to the full House. The measure would would impose a fine equal to the value of the bet or $20,000, whichever is greater, and a maximum four-year prison sentence. Supporters said the bill will help control an unregulated and growing industry. The FBI estimates that Internet gambling revenue more than doubled to $651 million in 1999, from $300 million in 1998.


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