Brian,
I respect your opinion but am not convinced. As you know, lawyers are like economists, you could find one anywhere to support a point of view. It is against the law in the U.S. to gamble over communication methods. Yes, they can conduct their business offshore, but as soon as it done in the U.S., it is illegal. Internet or phone, it's the same thing.

45 yr old law or not, it is the law and we can't just decide which ones we will obey and which ones we won't.

I certainly am not telling you or anyone how to live your life. But, we are a nation of law not misguided whims.