Rep Frank Hopes To Bring Gambling Bill To Floor This Year
21 May 2010
Rep. Barney Frank, the Chairman of the House Financial Services Committee has said that he plans to bring his bill legalizing online gambling before his committee in July and hopes to have it passed by the House this year.
Frank testified before the House Ways and Means Committee on Wednesday in support of a bill by Rep. Jim McDermott, which sets up a framework for taxing online gambling. The committee was hearing evidence for and against such a proposal.
Frank’s two bills would legalize online gambling and then set up the framework to regulate it.
The regulations of the UIGEA bill, passed in 2006, are set to go into effect on June 1. Frank has argued that when those regulations go into effect, they will force the banks and other financial institutions to enforce those regulations and to determine which financial transactions are illegal under the act. This, he argues, will place a great hardship and strain on the banks.
Frank says that he expects the banks to protest loudly that they are being forced to police the online gambling industry.
17 June 2010Virgin Group Setting Up New Game Site
Feel like a little online wagering? Feel like doing it all in the United States? Relax… the chance is here. Virgin Gaming, is announcing on Tuesday, at the E3 video game industry show, that it will be offering video gamers online, a chance to go head to head against others players online and win large cash prizes. To get around the US laws against gambling, they have to make sure that they label their games and games of skill and not chance. That way, it is not gambling.Read full article
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13 June 2010New Danish Gambling Law Goes Back To European Commission
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