No. The internet is too slippery for effective regulation. I would want to gamble only on sites that have a certain stamp of approval, and you can't make those assurances on the web.

I think of it like those gaming cafes that are springing up. I went to one in Florida thinking they had slot machines. Instead, there is a room full of computer terminals connected to the internet - and ready to be packed up and folded down on a moment's notice. The walls are covered with signs stating that this is not gambling, it is just prepaid internet services. That was all the warning I needed, and I left. I don't mind risking my money on gambling when I know the location is regulated by the state (or a tribal government), they have the right and the power to enter the facility and check the machines, and they are required to account to the government for money received and spent. If it is recognized and regulated gambling, I know the odds are against me, but I know the payoff can still come. If it is an unregulated activity or one incapable of effective strong regulation, though, I have only the "honor" or "trust" of an unknown provider to rely upon.

If I lose at a legitimate casino, I know I lost fair and square. The internet carries no such assurance.