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September 17, 2008 'Net Gaming Bill Moves Ahead Rep. Barney Frank's Payments System Protection Act has passed out of the House Committee on Financial Services. If enactment, the bill would require the appointment of an administrative law judge to specify which forms of online gambling are currently illegal and which are not. It has the support of the Credit Union National Association and The Financial Services Roundtable. Said an Internet-gambling advocate, "Rather than prohibit an activity millions of Americans enjoy in the privacy of their homes, just as they can do in a casino, Congress should create a framework to regulate Internet gambling as a way to protect consumers and collect billions in much-needed federal revenue."
September 19, 2008 Prospects Unclear for 'Net Bill Although it passed out of the House Financial Services Committee by a 30-19 margin, it's not certain whether an Internet-betting bill will make it to the floor of the House of Representatives prior to adjournment. One obstacle is the opposition of the NFL. "I'm trying to figure out what the difference is between Internet gambling and legal sports books run by all the major casinos in Las Vegas like Caesars, like Tropicana, like all of the others," said bill proponent William Lacy Clay (D-Mo.). The bill, authored by Rep. Barney Frank (D-Mass.), would require the Treasury Dept. and Federal Reserve to define "unlawful Internet gambling," which is currently banned but not clearly defined.
September 19, 2008 Prospects Unclear for 'Net Bill Although it passed out of the House Financial Services Committee by a 30-19 margin, it's not certain whether an Internet-betting bill will make it to the floor of the House of Representatives prior to adjournment. One obstacle is the opposition of the NFL. "I'm trying to figure out what the difference is between Internet gambling and legal sports books run by all the major casinos in Las Vegas like Caesars, like Tropicana, like all of the others," said bill proponent William Lacy Clay (D-Mo.). The bill, authored by Rep. Barney Frank (D-Mass.), would require the Treasury Dept. and Federal Reserve to define "unlawful Internet gambling," which is currently banned but not clearly defined.
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