Frank and King introduce online gambling legislation
It’s time to regulate gambling on the Internet rather than outlaw it, says Rep. Barney Frank, the chairman of the House Financial Services Committee.
Reps. Barney Frank (D-Mass.) and Peter King (R-N.Y.) introduced legislation Wednesday that, if passed, would create regulatory framework for online gambling in the United States, and that is sure to please poker players. But the opposition is formidable and includes conservative groups that view gambling as exploiting the vulnerable, particularly the poor.
“Internet gambling in the United States should be controlled by a strict federal licensing and regulatory framework to protect underage and otherwise vulnerable individuals, to ensure the games are fair, to address the concerns of law enforcement, and to enforce any limitations on the activity established by the states and Indian tribes,” the 48-page bill reads.
Congressman Barney Frank’s new fight
The question is one: Do really Gaming Regulators want to drive consumers into unregulated territory where they are not protected by laws and rules governing casinos?
Once again Democratic Representative Barney Frank positions himself as one of the United States’ most powerful proponents of legalized, regulated, online poker.
“I think if we do this right we should make online gaming legal and subject it to a reasonable taxation like anything else.” He says after the announcement in a recent press conference that one of the key issues that he wants to pursue early this year is online poker legalization. Frank’s plan is to introduce a bill that would push for the reintroduction of legal online gambling in the United States.
Also former Senator, and PPA Chairman, Alfonse d’Amato, recently had an article featured in ‘Roll Call’ – an important political newspaper in Washington – in which he pointed out the significant financial benefits that could be enjoyed if online poker taxes were introduced. An example is the United Kingdom, where a successful taxation had been implemented and millions of pounds delivered to the Queen. He also says “Regulation of Internet poker does not equal an expansion of gambling in this country. Like it or not, that genie is already out of the bottle. The American market has spoken.”
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