Online gambling could return to U.S. soil as soon as May after the State of Nevada Gaming Commission approved 888 Holdings PLC's request for licensure to manufacture, distribute and provide interactive gaming systems in the state. Upon receipt of the license, 888 will be the first company to legally provide online gambling in the U.S. since the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) was passed.

The most famous UIGEA-related case came in April 2011 when the U.S. Department of Justice seized the Internet domains of PokerStars, Full Tilt Poker and Absolute Poker. Although civil complaints between the federal government and the three companies were dismissed in July 2012, criminal indictments against specific individuals associated with the companies remained active.

The criminal indictments were for payment processing activities designed to circumvent the UIGEA. Preet Bharara, U.S. Attorney for the Southern District of New York, summarized the case in 2011:

"As charged, these defendants concocted an elaborate criminal fraud scheme, alternately tricking some U.S. banks and effectively bribing others to assure the continued flow of billions in illegal gambling profits. Moreover, as we allege, in their zeal to circumvent the gambling laws, the defendants also engaged in massive money laundering and bank fraud."

Whether they have had a change of heart on principle or know that the potential tax revenue is too good to pass up, more governments are supporting legalized online gambling. Currently three states in the U.S. have legalized Internet gambling: Nevada, Delaware and New Jersey. Federal legislation legalizing online gambling is expected later this spring.

Gibraltar-based 888 has deals with Caesar's Palace to provide an online version of the World Series of Poker, re-branded online poker to Treasure Island and online slots with WMS Gaming, Inc. 888 also offers a no-download casino that allows players to enjoy casino games without downloading software and has an option where players can have a live dealer. Once the U.S. online gambling market opens up, 888 will have competition from bwin.party Digital Entertainment, the world's largest publicly traded online gambling company.

It wasn’t long ago that Nevada and Atlantic City were the only places one could legally go for casino gambling. While restrictive laws about casinos may have been enacted on moral grounds, the potential revenue that gambling generates is too tempting to pass up. Currently, 48 out of the 50 states in the U.S. allow at least some form of gambling, whether it’s a lottery, pari-mutuel, commercial, tribal or racetrack. Only Hawaii and Utah do not allow any of these forms of gambling. Barring those exceptions, there is clearly little, if any, moral objection to gambling from governments; it’s simply a matter of regulation and taxation. Because of their expertise in running similar operations in Europe, 888 and bwin.party are first in line for the online gambling equivalent of an Oklahoma land run.