Big Push for Online Gambling Bill

May 22, 2009

Professional poker players have some big names behind them pushing for the bill to overturn the online gambling ban. Names like Harrah�s Entertainment Inc. and YouBet.com have both thrown their support behind the legislation that Rep. Barney Frank has put forth to overturn the UIGEA.

Frank has been trying for a very long time to get online gambling legalized and regulated, and with a new administration in office it is time to strike while the iron is hot. Frank introduced legislation that would not only remove the online gambling ban, but it would also hold off on the regulations that were put in place at the end of the former president�s term that make it immensely difficult for the banks to do their job. In doing so, he has bought the banks more time and has bought online gambling supporters more time as well.

Frank maintains that the government should not be involved with the online gambling community and that there is no reason for them to feel as though they have a right to. Frank is hoping that the House Financial Services Committee will act on the bill before they take their summer recess in August, so that they can get to work on legalizing and regulating online gambling.

The legislation would have online gambling companies registering with the US Treasury Department. The online gambling companies would have to have a license, and they would have to have checks and balances in place to make for a secure gaming environment as well as safeguards to keep underage gamblers from participating.
 

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