Archive for February 27th, 2009
New bill could open US to online gambling
Two articles did the rounds at the JackpotCity mothership this week. Both Mediapost and Canada.com picked up on the story of Representative Barney Frank’s plan to introduce a bill that could legalise online gambling in the US.
This bill will challenge the 2006 Unlawful Internet Gambling Enforcement Act, Mr Franksaying the current law ” burdens the financial service industry at a time of economic crisis”.
He tried unsuccessfully in 2007 to introduce the Internet Gambling Regulation and Enforcement Act which would control underage and compulsive gambling, money laundering and fraud. While Mr Frank seems to agree their is need for control he clearly disagrees with the Republican’s somewhat draconian outright banning of online gambling.
This conincides with the European Commission’s investigation into whether the US is singling out EU based companies for different treatment to American online gambling businesses. European gambling sites have petitioned the Commisssion to investigae and report their fidnings at the World Trade Organisation in a bid to reverse the laws that have cost them millions of dollars in revenue.
Will the change of leadership mean a change in online gambling regulations. It has been widely reported that in his days as Senator of Illinois, President Obama was a keen poker player. This, however, is in contrast to his concerns about the dangers of gambling in poorer communities. His words in 2003, “I think the moral and social cost of gambling, particularly in low-income communities could be devastating.”
It seems that despite support from the European Union, Mr Frank is going to have his work cut out for him getting his bill passed. Whatever the outcome, Online Casinos the world over will be paying close attention to the result.
