Those following the news around the Unlawful Internet Gambling Enforcement Act (UIGEA) know that Democrat Barney Frank has been working to overturn the bill and put legislation in place that will allow regulated online gambling in the United States. But Frank’s progress on overturning the UIGEA has come in stops and starts, partly because there have been more critical issues for congress to tackle, including unemployment. But recently Frank showed signs of breathing more life into his bill H.R. 2267 also known as the Internet Gambling Regulation, Consumer Protection, and Enforcement Act. Fortunately no one has started calling it the IGRCPEA -yet.
Last week, Barney Frank had a hearing for his bill HR 2267 but there was concern at that time that no mark up session had been scheduled since this could mean that the bill wouldn’t move past the hearing stage. But now a mark up session has been scheduled for HR 2267 for Tuesday.
One of the arguments supporting the bill is that it would allow Americans to gamble online, if they so choose, while protecting the security and safety of players. It would also allow for tax revenue to be collected from casinos and frankly relieve financial institutions of the burden of trying to follow the somewhat vague rules of the UIGEA. Opponents of the UIGEA have pointed out that no one has actually defined what “unlawful internet gambling” actually consists of. Right now financial institutions bear the burden of determining of a transaction is legal or not.
Frank’s bill is receiving support from the Poker Players Alliance and others. But there is still opposition from land based casinos and their lobbyist because they haven’t yet found a way to benefit from the bill. But lately some land based gambling destinations, such as Atlantic City, haven’t been able to handle other land based competition. Unfortunately forcing people not to gamble online won’t make them go to Atlantic City.