Barney Frank Introduces New Gambling Bill
Rep. Barney Frank (D-MA), chairman of the House Financial Services Committee, introduced the Internet Gambling Regulation, Consumer Protection, and Enforcement Act of 2009, on Wednesday, May 6, as he lived up to his promise to push for legalized, regulated gambling on the Internet.
The bill "provides for the licensing of Internet gambling activities by the Secretary of the Treasury, to provide for consumer protections on the Internet, to enforce the tax code, and for other purposes..
The gaming companies would have to undergo background checks, where items ranging from financial stability to criminal behavior would be looked at.
Naturally, Frank's Bill was met with applause from the online betting community.
"Online poker is a legal, thriving industry and poker players deserve the consumer protections and the freedom to play that are provided for in this legislation," said former U.S. Alfonse D' Amato, head of the Poker Players Alliance. "We are grateful for Chairman Frank's leadership and will be activating our grassroots army made up of over one million members to help him drive legislation."
Frank hopes to push his bills through Congress towards the end of the summer, with August being the most likely time period.
Frank's Bill and Sports Gambling
Frank's bill isn't necessarily good news for sports bettors, however, as sports betting and anything else deemed illegal under the Professional and Amateur Sports Protection Act would still be prohibited by the U.S. government.
The bill reads "No provision of this subchapter should be construed as authorizing a licensee to operate an Internet gambling facility that knowingly accepts bets or wagers on sporting events from persons located in the United States in violation of section 3702 of title 28, United States Code, except for fantasy or simulation sports games.
While Frank's bill may lay the groundwork for the eventual legalization of Internet sports betting, right now, they are being left behind the rest of the gambling community.
To read the entire bill, click here.
