Online Poker

Barney Frank to Introduce New Gaming Bill

by Poker Team

Today marks a very important day in the world of online gaming and online poker.  This battle is not going to be happening in any casino, virtual or brick and mortar.  The debate will not be taking place on any of the top internet forums, though one would suspect it will be discussed their at great length.  No, this battle will be taking place on Capitol Hill where Congressman Barney Frank (D-MA) will be making his first big push since the dawning of the new Obama administration to attempt to do away with the Unlawful Internet Gambling Enforcement Act (UIGEA).

This announcement has generated much buzz and anticipation for several weeks and now the day has finally arrived.  Similar to Frank’s previous attempt with HR 2046, the Internet Gambling Regulation and Enforcement Act

The time couldn’t be better to make this push by Frank.  With domestic and international economies in a state of decline, and just about everyone trying to find new revenue streams, Frank may be able to sway some historical conservatives with his economic proof alone.  Frank is expected to introduce regulatory guidelines as well as licensing parameters which would make gambling over the internet in the US a reality.  Specifically, Frank is looking to carve out exemptions from the UIGEA for companies which are licensed and regulated by the United States; contrary to some reports, he is not looking to do away with the UIGEA in its totality.

The strongest argument from an economic standpoint is that early estimates believe that Frank’s legislation would generate an additional $52 billion in revenue for the country over a 10-year period, and during times like these would be an avenue worth taking a closer look at.  Frank’s previous attempt at gaming regulation was met with some resistance but did accrue 49 co-sponsors.

Once released, we will be posting the full details.

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