Barney Frank to Unveil Online Gambling Bill Wednesday

[Brock Landers]

Barney Frank to Unveil Online Gambling Bill Wednesday


Submitted by Guest on Tue, 05/05/2009 - 12:14.

WASHINGTON, May 5 (Reuters) - U.S. Representative Barney Frank will unveil legislation on Wednesday to roll back a U.S. ban on online gambling, he said in a statement on Tuesday.
The new bill would exempt operators that are licensed and regulated from the ban enacted in 2006, Frank said.
The Massachusetts Democrat said his legislation "will enable Americans to bet online and put an end to an inappropriate interference with their personal freedom."
The Frank bill is likely to be opposed by anti-gambling Republicans. The ban was imposed during the Bush administration and has damaged U.S.-European Union trade ties.
European online gambling firms lost billions of euros in value after Congress made it illegal for banks and credit card companies to make payments to online gambling sites.
Republicans controlled the White House and Congress when the law was approved. Now, Democrats are in control in both branches of the government, but it is unclear how the Obama administration will handle the issue.

[jjgold]

Common let this pass!!!

[Brock Landers]

God, i pray that Pinnaclesports.com will come back to the US with this kind of news. Considering nothing changed for me, except the access to Neteller, since the law got ramed into place back in 06, i will not get my hopes up too high.

[Brock Landers]

Common let this pass!!!

JJ, you need to create your own book in the US once this passes!!

JJGOLDSPORTS.COM

Offer reduced juice, poker, horses, casino, essentially be a clone of what Pinnacle, the best book in the world, Was.

This would be the thing JJ.

[Casperwaits]

I miss Pinnacle

[Tsoprano]

I miss Pinnacle

+1

[Igetp2s]

Now if only we could choose where we send our kids to school, instead of Democrats/Teachers Unions Slaves deciding for us.

[Enforcer_23]

I wonder if anything will really happen

[DwightShrute]

Phuk that would be awesome

[Brock Landers]

Online Gambling Measure Draws Support From Harrah’s, Youbet.com

By Jonathan D. Salant and Lorraine Woellert

May 5 (Bloomberg) -- Legislation allowing Internet gambling in the U.S. is scheduled to be introduced again tomorrow by Representative Barney Frank.

Although similar legislation failed in the last Congress, Frank, a Massachusetts Democrat, has support from such companies as Youbet.com Inc. and Harrah’s Entertainment Inc., in addition to the Poker Players Alliance, formed to overturn a 2006 ban on Internet poker.

Supporters “have been mobilizing,” Frank said in an interview last week. “This is a grassroots thing.”

The legislation would allow licensed gambling operators to accept online wagers from people in the U.S. The bill would revise the Unlawful Internet Gambling Enforcement Act of 2006, which made it a crime for banks or other institutions to process financial transactions used to place illegal bets online.

Regulations implementing the law took effect in January, and some payment processors have until Dec. 1 to comply.

Online gambling operations, banks, state lotteries and poker aficionados opposed the 2006 law. Some critics said the law makes no distinction between legal and illegal online wagering. For example, some states such as California allow lottery tickets to be purchased online. In addition, the ban doesn’t affect online betting on horse racing.