Yet another bill has been presented to the US Congress called the online gaming Regulation, Consumer Protection and Enforcement Act (H.R. 1174), to get the ball rolling again on the legalization of online gambling within the USA.

Massachusetts Democratic Representative, Barney Frank and California Republican Rep. John Campbell have introduced the bill with the support of Colorado Democratic Rep. Ed Perlmutter and New York Republican Rep. Peter King. The bipartisan delegation looks promising but as skeptics have pointed out this bill is a mighty long way from becoming law.

The bill which applies to both offshore and domestic operators is the same as the bill presented to the Financial Services Committee last August. Barney Frank and John Cambell's bill would not dispose of the Unlawful online gaming Enforcement Act but would make a Federal regulatory template. This would allow online gambling operators to apply for a license from the Treasury Department giving them the authority to accept bets over the internet form consumers in the USA.

The Treasury Department would be in full control of all online gambling activities. The Department would have the means to regulate, authorize, terminate or suspend licenses. The Treasury would be able to enforce and maintain the act with it’s legally provided powers. Licensees would have to comply with Department of the Treasury guidelines to be granted a license to operate in the States.

This bill H.R. 1174 includes the legalization of other casino games besides poker but maintains a prohibition on sports wagering. Nevada Senator Reid’s proposed act would have only allowed internet poker to be legalized on a Federal level and it is not sure that his supporters are ready for the extended gaming offerings. Restrictions introduced as part of the bill will include the prohibited use of credit cards to gamble online; debit cards would be accepted or funds put in a prepaid account. Sports betting will be prohibited, except for pari-mutuel racing permitted by state law. The bill will not allow any operator that had taken bets from the U.S. in violation of federal or state laws to obtain a license.

Posted by: vicstan at 06:08 PM | No Comments | Add Comment
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