Online Gambling Regulation Bill Passed by House Committee

gamblingthumbnail.jpg

On some terrific news it was reported that the House of Financial Services Committee approved a bill that will legalize and regulate online gambling in the United States. The bill was passed last Wednesday after a few ammendments were made.

The bill was passed in a 41-22-1 vote and it was bill HR 2267, the one that Committee Chairman Barney Frank had been fighting for since 2008 as it aimed to repel the Unlawful Internet Gambling Enforcement Act. His first attempt with the bill failed on a 32-32 vote but this time things worked out well for him, and everyone in the industry.

Barney Frank, John Campbell and Brad Sherman took care of making ammendments to the bill such as punishing all sites that have broken the law before by not granting them a license and prohibiting all types of advertisements directed to minors. Another ammendment is that from now on all online gaming sites will require a license to be able to operate in the United States.

“The fact is, online poker is not going away,” said former Sen. Alfonse D’Amato, chairman of the Poker Players Alliance, in a statement. “Congress has a choice – it can license and regulate it to provide government oversight and consumer protections, or our lawmakers can stick their heads in the sand, ignore it, and leave consumers to play on non-U.S. regulated websites in all 50 states. I’m glad the Financial Services Committee today overwhelmingly chose to act and protect Americans as well as preserve the fundamental freedoms of adults and the Internet.”

We are glad to see the bill passed and we will keep you updated on further developments of the aperture of the US online gambling market.