Most of the gambling industry is under the impression that online casinos will soon be regulated in the United States.  Some forms of online gambling are already considered legal, but the industry as a whole does not have any real regulation.  A debate has arisen as to whether regulations will take place on a federal level or on a state by state level.

A large part of the gaming community believes and hopes that online casinos and the rest of online gambling industry will finally be regulated on a state by state basis.  Gambling legislation has always been the providence of the state.  Many people in the industry hope states take charge because legislation simply moves faster through state governments.

As Betfair prepares to launch their all new networking site to accompany their newly purchased TV Games Network, they are anticipating state by state regulation. Massachusetts Congressman Barney Frank is already trying to overturn the Unlawful Internet Gambling Enforcement Act on a federal level, but hearings on his proposed bills will not commence until September of this year.

The site being constructed by Betfair’s Silicon Valley team is designed on a modular basis. This means the same basic site will be adjustable to the various particular laws that may arise from state regulation. The team would simply be able to turn certain features on and off according to states law.  Betfair will make its income from the site by taking between a 2 percent and 5 percent commission from the money paid out to winners.