from:link

According to a Reuters press release, U.S. Representative and House Financial Services Committee Chairman Barney Frank will be officially unveiling his long-awaited online gambling bill on Wednesday.

Frank, according to the release, said that his legislation will "enable Americans to bet online and put an end to an inappropriate interference with their personal freedom."

The legislation will be officially introduced at a 10 am ET press conference on Wednesday morning.

This isn't Frank's first attempt at passing pro-online gambling legislation.

In April of 2007, Frank introduced H.R. 2046, which was the Internet Gambling Regulation and Enforcement Act of 2007. This bill had 48 cosponsors but ultimately wasn't passed.

H.R. 2046 sought to license and regulate online gambling companies in the United States, and Frank's new bill is likely to be along the same lines. This bill wouldn't repeal the UIGEA; rather, companies that are licensed would be exempted from the UIGEA.

There will obviously be strong opposition to Frank's bill from some circles. You can expect many Republicans, Christian and family groups and the NFL to come out strongly against Frank's proposed legislation.

Has the time come for a licensing and regulatory framework for the online gambling industry to be implemented in the United States?

Will a friendlier Congress and desperate need for additional tax revenues result in the passing of this bill? That's yet to be determined, but momentum certainly seems to be on our side right now.


View: sounds good but why would the NFL care??

I think the NFL is the only league that doesn't let its players bet on other major sports. As for the bill, do we get to attach it to a must-pass bill too?

yeah no kidding about the must-pass....i think good things are coming though...i actually had the ppa write a form letter to my state reps in TX and turns out it was a family friend, so i called him adn put in as much of a good word as i could muster.....i think things are starting to change in our favor nd once they do, i believe another little 2003 explosion may occur, and i would love it, been playing since 1996 and if we could get another 2003.....holy s.

who is gambling bill?

gogogogo Barney!

sports betting gonna be legal now too?

I'm sending barney frank a bottle of Dom if this passes.

if this were to go thru, on average how long does it take between this stage and being on obama's desk?

Barney Frank said the bill probably won't come to the floor for a vote until September or so. It's a process that has to be gone through. Harrah's has also come out, for the first time, publicly supporting this bill and online gaming. Write your representative and let your voice be heard.

I think that the key phrase here is "license and regulate online gambling companies".

shady poker dealings itt

Frank is currently announcing it now.

1 time

holy ****, Harrahs is for it, it must be good. Lets wait and see what the contents of the bill are before we cream our jeans. State opt outs for example = crap.

US Rep Frank formally announces internet gambling legislation to seek to establish a regulatory framework; as expected
- note: HET and UBET are among the US gaming companies that are on record in support of Frank' (related CRYP OPMR 888.UK PRTY.UK SBT.UK HET UBET )

Also mentioned that Frank wants to get this on the floor before the summer break. (August)

Frank wants the US Treasury to run the oversight of all gambling sites. (Yikes, because they've done such a good job lately...)

didnt see this on CSPAN or CSPN2

FYI - I'm just relaying what my stock news program is shouting out via the audio feed.

I assume c-span.org will have the press conference online shortly.

[x] wont pass

one time dealer

I'm sure there will be an AP article with more details up shortly as well.

It would be hard to imagine a bill that wouldn't improve on what is going on today.

Only thing to worry about is absolutely brutal licensing fees that would kill profitablility of poker and I think they are too smart for that. In the long run no one benefits from killing the game.