NEW YORK (CNNMoney.com) -- "Hey, Tony ... I mean Mr. Soprano. I could use some advice."

The beefy, balding hood looked up, and motioned for the top-hatted man to have a seat. "You need something? A little something to eat? Some pasti?"

"No, no," said the elderly gentleman, looking around a little nervously. "I'm fine."

"S'alright, what can I do for you, Uncle Sam?"

"It's about gambling ..."

Tony looked at him sharply.

"No, no not your thing," Uncle Sam continued. "I'm talking about Internet gambling. Offshore Internet gambling. You know, where these web sites operated in places like Ireland and Costa Rica let people play casino games or bet on sports."

"Yeah, I'm familiar. So what?"

"Well, I figure it is at least a $12 billion-a-year business. Maybe even more. And anywhere from half to two-thirds of the revenue comes from people in the United States. And, well, I don't ... I'm not getting ..."

"...You think you should get your taste."

"Exactly," said Uncle Sam.

"Well, do your law thing," Tony shrugged.

"I am," Uncle Sam sighed. "But it's really hard. How am I going to make my laws apply to some outfit overseas?"

"Go after their business?"

"Yes, yes. I'm doing that. The House of Representatives passed a bill hitting the credit card companies and banks that allow payments to gambling sites. The Senate probably won't get it done this year, though, so we'll have to try again next year."

"So you squeeze them ... but how do you get your money then?"

"I dunno. You see, I'm sorta doing this in the name of the consumer. You know, protecting the fairness of the game, guarding against gambling addicts, etc."

"Yeah, you say that and I'm sure it plays well in some circles," Tony's eyes twinkled. "But I also notice in your legislation that you're making sure horse racing and state lotteries are still around. And Las Vegas, Atlantic City, the Indian casinos, riverboats ..."

"All regulated for the protection of the consumer ..."

"And that regulation makes it so easy to make sure you get your cut," Tony snapped.

Uncle Sam sat back and shrugged, with a faint smile on his face.

"Here, I got a solution for ya," said Tony, flipping the penne in his bowl. "There's this guy in the Internet gambling biz ... runs one of the bigger ones: BetonSports.com."

"I've heard of it. Does casino stuff and sports bets."

"Right, Internet sports betting, which Feds have won convictions on. This guy, a CEO named David Carruthers, he's going to be taking a flight from London to Costa Rica soon. He's got a layover in Texas. Here," Tony slid a piece of paper across the table.

Uncle Sam blinked at the information on the paper: "What do I do?"

"You grab him. You charge him and his crew. And you shake them down for the money you think they owe you. Call it a payment for all the 'federal wagering excise taxes' you think they failed to pay over the years while taking bets from Americans. How much do you think you could get?"

"Maybe $4.5 billion."

"Nice. Now I was talking to this guy - a professor up at State University of New York in Buffalo - Joseph Kelly. Smart guy, helped Antigua with their gambling regulations. He told me picking on Carruthers would send a message: 'He's a public figure,' Prof. Kelly said. 'He goes all over the country, gives talks. He's a very public figure;..looking at what happens to Carruthers, other site owners and directors may get worried.'

Tony swallowed and continued: "What the professor was saying is simple. Grab Carruthers and people will notice and worry about whether or not you are going to do it to them."

Uncle Sam scratched his head: "So how does that cure my problem?"

"With that much money involved and you playing tough guy ... well, now it's in the offshore guys interest to see if they can find a way to give you a taste. Capiche?"

Uncle Sam leaned back and grinned with a glint in his eye: "Yeah. I'd bet on it."

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Allen Wastler is Managing Editor of CNNMoney.com and appears on CNN's "In the Money." He can be emailed at wastlerswanderings@cnn.com.