Online Gambling Regulation Bill Passed

Online Gambling Regulation Bill Passed by House Committee

By Gaby on Jul 30, 2010

On some terrific news it was reported that the House of Financial Services Committee approved a bill that will legalize and regulate online gambling in the United States. The bill was passed last Wednesday after a few ammendments were made.

The bill was passed in a 41-22-1 vote and it was bill HR 2267, the one that Committee Chairman Barney Frank had been fighting for since 2008 as it aimed to repel the Unlawful Internet Gambling Enforcement Act. His first attempt with the bill failed on a 32-32 vote but this time things worked out well for him, and everyone in the industry.

Barney Frank, John Campbell and Brad Sherman took care of making ammendments to the bill such as punishing all sites that have broken the law before by not granting them a license and prohibiting all types of advertisements directed to minors. Another ammendment is that from now on all online gaming sites will require a license to be able to operate in the United States.

The fact is, online poker is not going away, said former Sen. Alfonse DAmato, chairman of the Poker Players Alliance, in a statement. Congress has a choice - it can license and regulate it to provide government oversight and consumer protections, or our lawmakers can stick their heads in the sand, ignore it, and leave consumers to play on non-U.S. regulated websites in all 50 states. Im glad the Financial Services Committee today overwhelmingly chose to act and protect Americans as well as preserve the fundamental freedoms of adults and the Internet.

zactly...gambling is here to stay...theres just too much money involved here for lawmakers to turn their backs without getting a cut.

I'm with ishin

Getting to play at any MG of my choice may be getting closer!

Yipeeee we will have tons of fun lol

This is awesome, a step in the right direction for sure...



:-*

This is GR8 NEWS :0)  I've been getting sick & tired of jumping thru hoops just 2 enjoy my one & only vice :0)

testimony and various industry experts.

Gambling bill details
Under Frank's bill:

•The Department of the Treasury would have exclusive authority to license Internet gambling operators and establish regulations for the operation of such businesses.
•Applicants would be subject to review of their financial condition and corporate structure, business experience, and suitability. They also would be subject to criminal background checks, and would have to agree to be subject to federal laws.
•Licensed online gambling operations would be prohibited from accepting any bet that is initiated or terminated in a state or tribal land that bans that type of Internet gambling.
•Any Internet gambling operator receiving a license would be required to ensure that everyone placing a bet is of legal age as defined by the law of the state or tribal area in which the individual is located. The operator also must protect the privacy and security of anyone who places an online bet.
•The Department of the Treasury could revoke or terminate the license of any operator who fails to comply with the bill's provisions. Violators could be fined or imprisoned for up to five years -- or both.

hi gang , this also means the land casinos will have a chance for online as well, hello playteck . i hope Netteller comes back, ty josie46