Click Now!

Additional Support for Online Casino Bill

Barney Frank’s pro online gambling bill is gaining further support. The new proposal, by Frank, addresses issues that current legislation has generated. The anti online casino bill, named “The Unlawful Internet Gambling Enforcement Act”, is causing the United States trouble at the World Trade Organization and inside the country as well. While the Unlawful Internet Gambling Enforcement Act simple bans online gambling and the companies that support it, the new law suggests a regulation system that will govern the industry and even tax it. Frank’s bill has many politicians backing it up, and now we see additional members signing on.

The five new members of Congress that signed on as sponsors of Frank’s Internet Gambling Regulation and Enforcement Act are Anthony D. Weiner (D-N.Y.), Bennie G. Thompson (D-Miss.), Steven R. Rothman (D-N.J.), Michael M. Honda (D-Calif.) and Albert Russell Wynn (D-Md.) This has been a good month for online gambling. If the new proposal passes Congress we might see online casino gambling back in the United States much sooner than anyone believed. Right now, with the additional support, the bill has 32 co-sponsors behind it – not bad at all.

Many believe that Frank added the part about taxation as a sweetener. This might be true, but who cares? If the new bill brings online casino back to America, I’m buying. Regulation will make sure that only responsible gambling is practiced and the taxation program will generate money for public causes. Everyone seems to win from the new offer and as more people join the chances for the enactment of the bill are growing. Once passed, the new bill will basically make the Unlawful Internet Gambling Enforcement Act ineffective. In other words, the UIGEA will be neutralized. It’s common knowledge that many politicians think that the current situation is absurd and that the United States can only benefit from overturning the decision on online gambling.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

COMMENTS

comments