INTERNET BUSINESS NEWS-(C)1995-2002 M2 COMMUNICATIONS LTD

A US Congressional panel has voted to update the Wire Act of 1961 that bans interstate wagering to now include online gambling.

The House Judiciary subcommittee voted unanimously on the proposal to make the Act also apply to the Internet and other modern communications as well as telephone lines. The amendments to the bill would also allow US federal agents to obtain a court order requiring a credit card company to cut off transactions with a gambling site based outside of the US.

A Reuters study found that online gambling sites took an estimated USD2.2bn in revenues in 2000 and is expected to collect USD6.4bn by 2003.

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