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Written by Pino | Tuesday, July 27th, 2010
The Internet Gambling Regulation, Consumer Protection, and Enforcement Bill that would legalize Internet gambling in the United States is evidently being heard today by the Financial Services Committee in the House of Representatives. If it goes all the way through, this bill that was first proposed last year will open the gate for legalized online gaming with the main beneficiary being online poker. The catch being that only players who reside in states that allow online gambling will be in the clear. Online sports wagering will not be included, other than the already legal pari-mutuel horseracing betting.
Each section of the bill will be considered in a “mark up” session where committee members will be able to suggest changes. Promoted by Barney Frank, committee chairman and Democrat, the bill will then go on to consideration by the House of Representatives. Although it is expected to draw strong opposition, if the bill prevails it would open the door for such online poker brands as PartyGaming to re-enter the market after they pulled out of the US online gambling business in wake of the UIGEA back in 2006.
The UIGEA actually prohibited banks in the US from processing online gambling payments, but did not prohibit online gaming sites or the players from taking part in online gambling activity. However, as part of a non-prosecution arrangement, PartyGaming paid a $105 million fine/fee for accepting bets from US players prior to the UIGEA. It is highly likely that PartyGaming has complied with the wishes of the US government so that when online poker does become legal in the US, they will be smiled upon by the government, whereas brands like PokerStars and Full Tilt may not be.
What the new bill means for players, though, is the start of a path towards further legalization in many states within the US.
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Written by Pino · Filed Under news · |
