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Barney Frank Introduces New Online Poker Bill

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Barney Frank Introduces New Online Poker Bill

Post by datsme53 on Fri Mar 25, 2011 8:35 pm

Congressmen Barney Frank and John Campbell introduced a new bipartisan online gambling bill in the House of Representatives on March 17th. HR 1174, or The Internet Gambling Regulation, Consumer Protection and Enforcement Act, is apparently identical to the bill that passed in the House Financial Services Committee by a vote of 41-22-1 in July of 2010, but different than the bill Harry Reid tried to pass last December. The bill is being introduced on the heels of a bill that was vetoed in New Jersey and at a time when intrastate bills in a handful of other states are gaining traction.

According to a press release issued by Barney Frank, the new federal bill ?would establish a federal regulatory and enforcement framework under which Internet gambling operators could obtain licenses authorizing them to accept bets and wagers from individuals in the United States.?

The Frank bill differs from intrastate bills in that players would be able to play poker across state lines rather than being restricted within a state?s borders. The bill would require companies offering internet gambling to be licensed in the United States. Companies that have participated in ?illegal gambling? would not be eligible for a license -- although the argument could be raised on what is legal/illegal. States would automatically be opted in to the legislation unless the state opted out through legislative measures. The bill would become law 90 days after regulations are issued, which have to be done within 120 days after the bill has been signed.

A press release from the PPA (Poker Players Alliance) supported the introduction of the new legislation saying ?we look forward to supporting this vital legislation as it moves through the legislative process.? In addition to highlighting the benefits of US players? poker rights, the PPA noted positive changes to the processes of preventing tax avoidance, money laundering, fraud, underage gambling and adding requirements on responsible gambling.

Barney Frank has been at the forefront of online gambling regulation ever since the passage of the anti-gambling UIGEA was passed. Despite the success of last year?s committee vote and increasing support from legislators previously against regulation, the bill faces hard challenges ahead. Spencer Bachus is now chairman of the House Financial Services Committee, where the bill may have to originate. The bill seen today could also be quite different than any bill that eventually processes through committee.

Regards,
Shane

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