With some members of Congress looking for ways to bring in extra tax revenues and casino moguls like Donald Trump calling for the legalization of internet gambling, a U.S. House panel today convenes a hearing about online gaming - and whether it's a "sure bet."
"The purpose of this hearing is to examine the status of Internet gaming in the United States and to consider how consumers and other stakeholders would be affected if current legal restrictions were eased," read a briefing memo sent to members of the House Energy and Commerce Committee.
The witnesses include those for and against the idea of opening up the spigot on internet gambling in the United States, with everything from the Poker Players Alliance to the National Council on Problem Gambling.
"Gambling has benefits but also has well documented negative consequences," says Keith Whyte, the Executive Director of the National Council on Problem Gambling.
"And internet gambling is no exception," he added.
One of the more familiar voices will be that of former U.S. Senator Al d'Amato, a Republican from New York, who now represents the Poker Players Alliance.
He argues that right now, Americans can engage in many forms of internet gambling - except for one big thing.
"What players cannot do, however, is play on a site that is located in the U.S.; that employs U.S. citizens; that pays U.S. taxes or is regulated by any level of government in the U.S," d'Amato says in his prepared testimony for lawmakers.
"Along with legislation to license Internet poker, Congress should finally clarify the laws governing Internet gambling and create effective enforcement against whatever is illegal," says d'Amato, making the case that change is needed.
Right now for example, I can open a betting account to wager on horse racing all around the country, even if I live in a state that does not allow parimutuel wagering.
If you lose a bunch, you can always wire some money into your account to bet on a few more races.
But you can't send money the same way into an account that will let you play casino type games for money.
That strikes some lawmakers as patently unfair.
Five years ago, the Congress tried to address questions about online gambling with legislation, but in the end, all lawmakers really did was block payments to banks for "unlawful internet gambling."
Some like Donald Trump want Congress to open up online gambling to U.S. companies for obvious reasons - they think they can make money.
Some aren't so sure that needs to happen.
"Legalization of Internet gaming is a controversial policy issue that must be carefully examined," said Ernest Stevens, Jr., Chairman of the National Indian Gaming Association.
In other words, the casinos run by Native Americans could see some of their profits slide away if people can just go online and gamble.
But there are other pressures in play as well - like finding ways to bring in more tax revenues to Uncle Sam.
The legalization of online gaming has been rumored to be under consideration by the Super Committee in Congress, which is looking for ways to rein in the budget deficit.
For some though, it's not about money, it's not about gambling - it's about freedom.
"The ban on Internet gambling infringes upon two freedoms that are important to many Americans," said Rep. Ron Paul (R-TX) at a hearing earlier this year, "the ability to do with their money as they see fit, and the freedom from government interference with the Internet."
We'll see where this hearing goes today.
