Respected internet gambling expert talks about the impacts of the upcoming presidential election on the gambling industry

The highly respected Las Vegas lawyer, Anthony Cabot who is known for his expertise on internet gambling law, voiced his opinion this week on the possible influence the two candidates for the presidency may have on the internet gambling industry if elected to the White House.

He spoke to the Las Vegas Business Press in an interview about the changes of cancelling the controversial Unlawful Internet Gambling Enforcement after the election of a new US president in November.

The law passed in October 2006 and was meant to disrupt any illegal financial transactions to online gambling and to make the banks and credit card institutions police the various transactions going to offshore gambling sites. The law excluded domestic horse racing and placed the burden of enforcement on the bank and credit card companies in the US, without a clear definition of what characterises an illegal financial transaction.

At the moment several legislations is being processed in the Congressional system to define what an illegal transaction is, and to legalize online gambling or to start up an independent enquiry into the market of online gambling.

Cabot told the paper that the lawmakers where up against a lot of problems in applying the ban. “It is nearly impossible for a bank or a credit card company to identify a legal or illegal financial transaction” Cabot said.

The imminent US presidential election could impact the efforts to create new laws to set UIGEA out of play. “If John McCain is elected, the UIGEA will never be repealed.”

However if, the senator from Illinois Barack Obama wins the election, the legislation could very well be up for changes, Cabot said, indicating that one of Obamas supporters is the gambling friendly Massachusetts Democrat Barney Frank, who is chairman in the House Financial Services Committee and in opposition to any gambling ban of online gambling.

"I think if Senator Obama was elected, UIGEA would be more likely to be repealed," Cabot said.

Cabot is an expert in his field, he has been practising law related to the gaming industry for more than 27 years. His field of interests has been online gambling, sweepstakes and contests. He joined the Las Vegas bases law firm Lewis and Roca after his time as chairman of Lionel Sawyer & Collins' gaming practice.

His move to Las Vegas from Arizona took place back in 1981, when he got there to work for the state’s most prominent law firm in 1981, where respected names former Governor  Grant Sawyer and Bob Faiss mentored him.

Cabot's work in Internet gaming led him to found the International Masters of Gaming Law Foundation.