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 The Internet Gambling Regulation, Consumer Protection, and Enforcement Act was re-introduced in the US House of Representatives yesterday. Congressman Barney Frank and Congressman John Campbell are once again making the push for legalized and regulated online gambling in the U.S. The bill is identical to the one that Frank successfully passed out of the House Financial Services Committee last year. While the bill never made it to vote in front of the entire house legislatures are hopefully that they'll be able to make progress with the bill this year as the bill gains even broader bipartisan support.
For those unfamiliar with the bill, it would essentially overturn the Unlawful Internet Gambling Enforcement Act (UIGEA) and institute a framework for the federal government to regulate the online gambling industry. The federal government would provide select companies with licenses to operate in the U.S. and the government would stand to earn billions of dollars in tax revenue. However, the main point that legislatures are emphasizing at the moment is that a regulated market would provide protections to online players and keep minors and compulsive gamblers from wagering online.
Frustrated with progress on the federal level many states have already begun debating their own intrastate online gambling bills. While most would prefer legalization on the federal level legalized online gambling has been a way for many states to help solve budget deficits. If certain state's successfully pass online gambling laws prior to those on the federal level they could stand to earn more tax revenue for their state but many simply don't see legislation on the federal level going anywhere any time soon.
As always, stay tuned to Casinofan for more news and updates.
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