Financial Crisis Trumps Online Gambling Bill

September 29, 2008

What a terrible time for the country to go down the proverbial toilet! Indeed, just as it seemed that online gambling was starting to gain a little momentum, the housing crisis loomed its ugly head again and a bill that might have passed muster was put on the back burner.

The Payment Systems Protection Act is Barney Frank�s latest attempt to get the UIGEA reeled back in. It passed committee last week, but with the financial climate the way it is, experts say that this may be the last we see of it again until next year.

However, some say that this would be a major mistake. They say that by ignoring the online gambling issue that there is a real potential for economic disruption. But with the current session concentrating on the bailout, it is unlikely that there will be any mention of the bill before their official close on Friday. This means that there could be no vote on it before the new Congress convenes next year.

The bill is not only important to the online gambling industry, but it is also important to voters to be able to show where they stand on the issue. Many are angry that our current elected officials passed a bill that they had no business passing. But until the financial market crisis has passed or at least seems manageable, there will be no vote on online gambling.

 

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