WSJ Debate: Should Online Gambling Be Banned?

[Rick Nebiolo]

Am in the process of reading this debate on the WSJ website. I don't plan to post much on this but am curious regarding others impressions. From the intro:

Should Online Gambling Be Banned?
A WALL STREET JOURNAL ONLINE NEWS ROUNDUP
April 4, 2006

Internet gambling is booming as Americans continue to wager billions of dollars on online sports books, Web casinos and virtual poker rooms even though the U.S. Department of Justice considers such activities illegal.

Several U.S. lawmakers are trying to crack down on the industry by clarifying existing U.S. laws and making it easier to go after offenders. One of those measures, the Unlawful Internet Gambling Act, seeks to curb online gambling by trying to cut off the money supply: the bill would outlaw the use of credit cards, checks or money transfers to settle wagers.

The bill is sponsored by Rep. Jim Leach (R-Iowa). The Wall Street Journal Online asked Rep. Leach and David Carruthers, chief executive of BetOnSports Plc, an online sports book and casino based in Costa Rica, to debate whether Internet gambling should be banned in the U.S. Their exchange, carried out over email, is below.