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Online Casino News:
Bill Gets More Sponsors
by Joanne R Sunday November 8, 2009 at
11:20 PM
Representative Barney Frank is truly a
champion of the online casino industry.
He has worked long and hard to try and
get the Unlawful Internet Gambling
Enforcement Act or UIGEA overturned. His
goal is to see an online casino gambling
industry that is regulated and taxed so
that not only does the government and
our country get money from this
billion-dollar industry, but that those
that decide to participate in online
casino gambling will be protected.
He has two bills that he is trying to
get passed through at the moment. One
would overturn the UIGEA and make online
casino gambling legal and regulated. The
other would hold off the implementation
of the UIGEA's regulations for a year,
giving them time to be reworked so that
they could be more effective. Frank is
not alone in his desire to see the
regulations pushed off for a while, as
the banks and financial institutions
have that same desire.
The UIGEA has many problems, and the
regulations that were pushed through for
the online casino industry really are
not solving anything. The banks are
worried because they feel that undue
pressure has been put on them to block
out these online casino transactions,
and they say that this is really
impossible. They support the
postponement as they feel that there is
a better plan for the implementation of
these online casino laws.
Frank's bill as recently gotten to more
sponsors from Peter Welch of Vermont and
John Larson of Connecticut. These two
gentlemen are now the 60th and 61st
members to endorse the online casino
gambling act. This of course does not
mean that the bill for the online
casinos is going to pass, but for every
signature that they get it puts them one
step closer to seeing the industry
legalized.
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