UIGEA was a bill that rocked the online gambling world from top to bottom, and now a new piece of legislation is aiming to do the same thing. Proposed by Congressman Frank Barney, the Internet Gambling Regulation and Enforcement Act of 2007 is the bill everyone has been waiting for since the collapse of the American online gambling industry. If passed, the Act would repeal UIGEA and regulate online gaming.
According to the House Financial Services Committee, "The Act establishes a federal regulatory and enforcement framework to license companies to accept bets and wagers online from individuals in the U.S., to the extent permitted by individual states, Indian tribes and sport leagues. All such licenses would include protections against underage gambling, compulsive gambling, money laundering and fraud." The importance of the bill is in its dealing with issues that the UIGEA itself was passed deal with. These include children gambling online, gamblers clicking their mouse and losing their house, and the ever-present concern over terrorism.
The licensing framework as part of Congressman Frank’s legislation is quite extensive. As such, the degree of consumer confidence in the sites they’re playing on should increase. Rather than have faith in offshore companies, some holding dubious reputations, consumers can deposit, play, and withdraw from sites controlled by a rigid string of federal safeguards. This consumer confidence is a point constantly repeated by the PPA to Congressmen from around the nation.
The Act allows state lawmakers to have discretion with regards to gambling within their jurisdictions: "To protect States’ and Indian tribes’ rights to control gambling activities within their respective geographic borders, the Act permits States and Indian tribes either to prohibit Internet gambling activities or impose limits on various types of Internet gambling activities." A user’s IP address will be used to enforce this measure. Additionally, sports leagues can opt in or out of allowing wagering on their particular game.
Pappas summarizes the bill and why you should care about it: "H.R. 2046 is a pro-consumer and pro-internet freedom bill. It recognizes that law-abiding and consenting adult Americans should have the freedom to play a game of skill on the Internet. It provides a sensible alternative to the draconian UIGEA by offering a safe and regulated place for people to enjoy the game they love. The legislation will clarify federal laws and make them even better for people who want to wager responsibly over the Internet."
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