Online Gambling Bills To Be Heard Next Week
10 April 2010
Rep. Barney Frank’s hard work is about to pay off. His online gambling bills, the Reasonable Prudence in Regulation Act (HR2266) and Internet Gambling Regulation, Consumer Protection and Enforcement Act (HR 2267), are to be heard by the House Committee on Financial Services on April 16.
With the provisions of UIGEA set to be enforced starting June 1st, and no more extensions expected, it is a bit of good news for online gambling. The hearings will focus on, among other things, the problems banks will be facing trying to implement the provisions of UIGEA.
Michael Waxman, spokesperson of the Safe and Secure Internet Gambling Initiative, stated: “This hearing will provide further evidence that UIGEA is a poorly-crafted law that simply does not work”. He goes on to say that a more common sense method of protecting the American people is needed.
Among the many provisions of the bills, are ones to further delay the implementation of UIGEA, and to create a regulatory framework for online gambling to work within, subject to government oversight. The Consumer Protection and Enforcement Act also allows the individual states to decide for themselves whether to allow online gambling within their borders or not.
Coincidentally, next week is the Washington DC Ante Up For Africa charity tournament, being held in the capitol on April 14th. Joining the many professional poker players will be Senator Robert Menendez (D-NJ) and Rep. Jim McDermott (D-WA).
25 March 2010Gaming Lobby Open To Legalized Internet Gambling
The American Gaming Association (AGA) has released in a new policy statement that it is open to the idea of legalized internet gambling as long as the proper regulatory structure was enacted to protect consumers and the integrity of the game. However, while changing its stance on legalized internet gambling, it has still not endorsed any of the bills now before Congress.Internet gambling is estimated to be a $26 billion a year industry.AGA Chief Executive Officer Frqank fahrenkopf Jr.Read full article
27 March 2010The Time To Repeal UIGEA IS Now
With the signing into law of the health care reform legislation, the United States Congress will be free to finally start working on other legislation which has been forced onto back burners for much of the last year. The biggest bill of this group is Barney Frank’s (D-MA) HR 2267, the InternetGambling Regulation, Consumer Protection, and Enforcement Act. As the name implies, this bill would regulate and tax internet gaming, and would protect consumers from racketeering and money laundering.Read full article
11 April 2010Not All Credit Card Abuse Is Gambling
Not all credit card abuse is gambling. A woman’s 12 year old son ran up a total of more than £900 in bills using his savings account and her credit card on, of all things, Face Book’s Farmville game. The tab on her credit card eventually ended up being £625. This was all done without the woman’s knowledge between March 14th when the first charge was made and the 29th when she discovered the usage and stopped the card.Read full article