Last week the United States signed into law what some people are calling the second prohibition. The law says no bank or financial institution to transfer funds to online casinos, but this is doomed to fail just like the banning of alcohol.

Last year an estimated 12 million Americans bet over 6 billion dollars in online casinos or sportsbetting websites, and with no regard for the people overseas, some of which are in third world nations, the United States basically killed the economy of these countries.

The online gambling industry employs over 10,000 people, and many of these people are in extremely poor countries, that because of online gambling were finally starting to see some improvements in their economies.

The stock of the larges online gambling business, based in Gibraltar dropped 58% in less then 1 hour after the congress passed the bill killing 5 billion dollars in market value, while a British company watched its stock drop 88 percent.

Fans of the new law say the fact of the matter was these activities were already illegal, because of the 1961 wire act, and that online gambling sends billions of dollars overseas that could be better spent here.

Critics of the New Online Gambling Ban say if the government wants the money to stay in the country they should legalize and regulate the industry not try to destroy it, and enjoy all the extra tax money that could be used for schools and other social programs, but as usual the Government does not seem to have learned from history.