Bill to fully regulate online gaming in USA now in Congress

[belgamo]

* Rep. Frank's bill reverses ban on online bets * U.S. Treasury would get authority to license operators WASHINGTON, May 6 (Reuters) - Legislation aimed at reversing a three-year-old ban on Americans placing online bets was introduced on Wednesday by U.S. House Financial Services Committee Chairman Barney Frank. The Internet Gambling Regulation Consumer Protection & Enforcement Act would establish a federal regulatory and enforcement framework for online gaming. Frank said the bill would give the U.S. Treasury Department the authority to establish regulations and license Internet gambling operators. The Treasury would also have the authority to revoke or terminate the license of any operator that violates the law. Enforcement actions could also include fines, according to the bill. "The government should not interfere with people's liberties," said Frank. The Massachusetts Democrat also told reporters he is introducing separate legislation to freeze the implementation of online gambling regulations under a Bush administration-era law. European online gambling firms lost billions of euros in value after Congress made it illegal for banks and credit card companies to make payments to online gambling sites. Republicans controlled the White House and Congress when the Bush-era law was approved. Now, Democrats are in control in both branches of the government, but it is unclear how the Obama administration will handle the issue. Companies involved in the issue include PartyGaming Plc (PRTY.L ) and 888.com (888.L ). Frank's bill quickly drew criticism from a senior Republican lawmaker opposed to gambling. "Illegal off-shore Internet gambling sites are a criminal enterprise," said Representative Spencer Bachus, the top Republican on the financial services committee. "Allowing them to operate unfettered in the United States would present a clear danger to our youth, who are subject to becoming addicted to gambling at an early age," said Bachus from Alabama. Orginal article at http://www.reuters.com/article/marketsNews/idUSN0622204920090506

 

[virgie]

this is great news.... they are worried about kids gambling on line. but they already gamble at  land  based casinos and get away with it if they dont win big.i have seen teens playing. they look older and even got offered drinks as the are looking older every year.but we as adults have a right to choose what we want to do or not do...i think we are in the right direction. we know it was really because about  the government losing out all of the tax money that they collect at land based casinos...as anything over 1200 in a single bet is taxed here and lottery anything over 599 is sent a 1099. now the governement will be able to keep track of people winnings. it will be interesting to see how they do that. if it will be what a person cahes out at one time or a single win....hopefully if this works out, we will get the progressives back. i sure miss  mega moolah and i want to play the game that we make our own slot...nt wait and hope this i will be soon.maybe then micro will open back to usa players.boy big money is at stake for the online gaming..thanks bel for this post

 

[Sookie]

WOO..HOO !!

 

[Janet0023]

Thanks belgamo for the inf!!! I wish it will work for us gamblers!!!

 

[tecknomania]

Except for not being able to play any Microgaming casinos I didn't have an account with, I don't mind it being illegal here. I've figured out the ways around using my bank or credit card and I've never had a problem cashing out or cashing a check from a casino. It's sometimes a pain in the ass to deal with funding options, but I like not paying taxes on the money I win.

 

[smosey]

I miss microgamming I wonder how fast this will be voted on?

 

[ring657130]

I too am glad and hoping it will come thru for us. However I always found away to deposit and can still play at micro's except no progressives.

 

[hildamae29]

I found a way to deposit also, only bad thing is when you win over 19,000 dollars and cannot cash out because you are from a forbidden state that stinks. This happened to me a couple of months ago at Capital Casino. They wanted all of my info and what I was going to do with the money, then realized I was from a banned state, confiscated my money and banned me from the casino. So I  hope this ban gets lifted because that was a bummer for me but guess it was my own fault knowing full well I was from a banned state, just never thought I would win big like that.Hildamae

 

[heartofluck]

Well, it would be a great news if that bill was pass to the congress i bet all gambling enthusiast from US will be delighted and can't wait to the final decision they will made. Good luck to all of us.

 

[Percival12]

QUOTE: i think we are in the right direction. we know it was really because about the government losing out all of the tax money that they collect at land based casinos...UNQUOTE"
"
Very true! and I would like to add that if any member of the Bush administration had had an interest in Moneybookers or Neteller, this anti-online gambling act would never have gone through. It is all about money, the land-based casinos money and the money from the people in power... "
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Also, the republican's criticism does not make sense IMO, because with this bill online casinos will be monitored and regulated... its a win-win situation!

 

[I_am_Loni]

I have mixed feelings about online gambling. It is my obsesssion, 24/7, and I'm ashamed to say that during a time when I was very vulnerable, just months after my son died and I'd lost my job of five years due to my mourning and depression, I found something to keep my mind from drifting to the visions of the night he died: online casinos. That was the worst thing that could have happened to me besides the loss of my only chiId! I deposited everything I had in the bank, and then some! Citadel, a funding company for these sites made it just way too easy to keep depositing money I did not have! I am responsible for my actions, but they allowed me to make 46 transactions within three days, totalling over $9,000!! Now, I live in Las Vegas, and I know that no dealer on the strip would allow someone to sit down at the table and hand him or her a check! Citadel allowed me to make those transactions without even checking my bank account! I worked it out with the Casino, and my bank, but that is just one example of how online gaming can really affect a person."
"
If a person can't control themselves, it can cause so much anguish and it can destroy that person if there is no one there to tell them they need to stop. But every forum I belong to encourages depositing, because it is how referers (I don't think that's a word, but it works here) make their living. That scares me. I never had a gambling problem, although I have lived in the gambling capital of the world: Las Vegas. It's just so easy to do in the privacy of your room at your computer. I'd like to think that all the patrons of the sites have control of their spending, but we all know that the temptation of making big money, fast may be the undoing of many."
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So, how can we address this problem? I'm open to any input anyone has."
"
Blessings."
Peace."
Out."
"
"
Loni Roberts-Green

 

[krystalkitty]

Will be interesting to see what happens!! Personally, it wouldn't bother me if I couldn't gamble online. Would just save that money for a land-based casino and go only a few times a year!