Posted Wed Mar 14, 2007 12:37 pm GMT by vyni
Pasting from an article on egr:
| Quote: | The office of US Congressman Barney Frank, who is chairman of the House financial services committee, has confirmed that he is currently working on legislation to repeal the Unlawful Internet Gambling Enforcement Act.
The news item appeared this afternoon on the Financial Times website and has been confirmed to eGaming Review by Frank’s press department. The details of how any repeal would take action have not been worked out and no timeframe was given.
Frank is quoted as describing last autumn’s Act as one of the “stupidest laws” ever passed and adds: “I am working on legislation to cut back on this internet gambling thing… I think it’s preposterous”.
While rumours of Barney Frank’s support for a repeal of the Act had been circulating around the egaming industry in the past few weeks, Frank himself had not confirmed or commented on them. Shares in PartyGaming, 888 and Sportingbet were all up this afternoon.
The FT says the mid-term Democratic victory in the US Congress brought some hope to the online gaming sector and John Conyers, chairman of the House judiciary committee, is also considered sympathetic to the industry.
But while Frank and Conyers are “powerful potential allies, it is far from clear that the lawmakers would have enough support to pass any meaningful legislation” because it is not clear “whether the votes would be there for a regulatory bill”.
The FT adds that the US treasury is currently drafting the rules to implement the Act but that the deadline for presenting them has been missed and is now expected in April or May. |
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Posted Wed Mar 14, 2007 5:52 pm GMT by General Sal
Finally... a little bit of hope.
Posted Fri Mar 16, 2007 5:20 pm GMT by kao85
my boss sends out a bunch of random links every week and stumbled upon this one
http://www.boston.com/news/nation/articles/2007/03/15/frank_eyes_restoring_web_gaming/
Posted Thu Apr 12, 2007 12:20 pm GMT by vyni
| Quote: | | City AM reports on the continuing efforts of US Congressman Barney Frank to persuade the US legislature to look once again at the issue of online gaming. The paper reports that Frank is set to present a bill next week in Washington DC. Frank has previously stated that the Unlawful internet Gambling Enforcement Act is the “stupidest law ever” but he admits to the paper that he is “in a minority on this”. |
Posted Fri Apr 13, 2007 11:22 am GMT by vyni
| Quote: | The rumoured proposals to be put forward by US Congressman Barney Frank regarding online gaming next week in the US House of Representatives are likely to fail, analysts have suggested.
According to reports, Frank, the chair of the House of Representative committee on financial services is likely to put forward some form of bill related to online gaming next week when the US legislature returns from its Easter break.
One analyst suggested the possibility of any proposals meeting with success were “still unlikely”.
However, he added that the financial services committees in both houses of Congress were now backing possible legislation.
Barney Frank has been vocal in recent months in his opposition to what he has termed the “stupidest law”.
There has been speculation about who might be behind the moves in the US. “The banks are behind it,” said one analyst. “They are the ones hard done by over (the UIGEA). And I don’t doubt that MGM and Harrah’s are also pushing.”
Another industry source suggested the banks “don’t like being the policemen”.
However, even Frank has suggested that he is “in the minority” regarding his support for some form of regulation of online gaming. |
Posted Wed Apr 25, 2007 2:11 pm GMT by xxadrianxx
Wed Apr 25, 10:15 AM ET
Democrat says expect online gambling bill Thursday
WASHINGTON (Reuters) - House Financial Services Committee Chairman Barney Frank (news, bio, voting record) on Wednesday said he will introduce a bill this week to lift a ban on online gambling.
"Why anyone thinks it is any of my business why some adult wants to gamble is absolutely beyond me," Frank told a community bankers group conference.
Frank, a Massachusetts Democrat, said he will introduce the legislation on Thursday.
Internet gambling in the United States was effectively banned last October when
President George W. Bush signed legislation outlawing gaming financial transactions.
The ban irked some in the
European Union, which is home to online gambling companies that were forced to withdraw from the United States.
(my keyboard wasn't working when i posted this, so i had to cut and paste the letters to login and password)
Posted Wed Apr 25, 2007 3:25 pm GMT by khaosanroad
Supposedly he is introducing it Thurs.
Posted Thu Apr 26, 2007 10:46 am GMT by vyni
From http://www.house.gov/apps/list/press/financialsvcs_dem/press042607.shtml
Rep. Barney Frank (D-MA) today introduced the Internet Gambling Regulation and Enforcement Act of 2007 that would create an exemption to the ban on online gambling for properly licensed operators, allowing Americans to lawfully bet online.
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 existing legislation is an inappropriate interference on the personal freedom of Americans and this interference should be undone,” said. Rep. Frank.
In 2006, the House passed the Unlawful Internet Gambling Enforcement Act, restricting the handling of payments by U.S. financial institutions for unlawful forms of Internet gambling. That law prohibits the use of payment instruments by such institutions to handle the processing of any form of Internet gambling that is illegal under U.S. federal or state law.
Traditional forms of legalized gambling already exist in nearly every state. By continuing to prohibit Internet gambling in the U.S., the U.S. has left Americans who choose to gamble online without meaningful consumer protections. The proposed legislation would institute practical and enforceable standards to bring transparency to Internet gambling and provide consumers the protections they expect and deserve.
The Financial Services Committee will hold a hearing entitled, “Can Internet gambling be regulated to protect consumers and the payments system?” at a date to be determined in June, 2007.
It goes on with general Q&A of the proposed,
and then even further with these links as well (pdf files):
Q&A of the legislation.
Summary of the bill.
There's also a link to pdf version of the file, but phpbb screws the link up. Will provide link to thomas lib pages when I find them (they're better anyways).
The page had originally called the proposed hr 2046, which I have removed as it may be incorrect. update: hr 2046 is correct
Posted Thu Apr 26, 2007 12:52 pm GMT by khaosanroad
It sounds promising. What will they consider compulsive gambling?
Posted Thu Apr 26, 2007 3:31 pm GMT by Fat Tony
How much do you want to bet that Bush uses his veto if this ever lands on his desk.
Posted Thu Apr 26, 2007 4:02 pm GMT by khaosanroad
| Fat Tony wrote: | | How much do you want to bet that Bush uses his veto if this ever lands on his desk. |
Then they will just try it again when Hillary takes office.
Posted Thu Apr 26, 2007 4:02 pm GMT by UrAteUp
Lets hope he didn't take the damn thing onto the war bill that went through today. We know Bush is going to veto that SOB as fast as it hits his desk.
Posted Thu Apr 26, 2007 10:44 pm GMT by BMG13
Everyone should call or email their representative! I already did... hopefully it's not like last time where I get a "I'm sorry but I support teh banz0r." response.
Posted Mon Apr 30, 2007 10:57 am GMT by vyni
This struck me as odd...
off egr:
| Quote: | The Remote Gaming Association (RGA) has admitted that it refused to put its weight behind the moves this week to put forward legislation to regulate online gaming in the US.
The refusal came despite meetings and discussions taking place in the months running up to this week’s announcement by Congressman Barney Frank of his proposals for the Internet Gambling Regulation and Enforcement Act of 2007 bill.
Clive Hawkswood, chief executive at the RGA, said the organisation and its members were not interested in becoming “heavily involved” in the recent lobbying effort.
He added: “That is for a mix of reasons. Some companies have never been involved in the US. Others meanwhile have left the US alone and are concentrating elsewhere. Some are worried about what their share price reaction would be.”
The RGA represents the majority of online operators in the UK.
Hawkswood was responding to accusations from sources close to the lobbying effort in the US that the RGA had failed to show any enthusiasm for this week’s moves.
“These guys have got to come to the table,” said the source. “There is a lot of upside here if they do.”
However, Hawkswood suggested the suspicion was that any regulation would effectively be in favour of US casino operators. He added: “Do we think our involvement could tip the scales? No. Look at it from the opposite angle. Did US involvement in the lobbying effort for the UK supercasino help at all? Or was it rather a hindrance?”
A spokesperson at Ladbrokes said of the consensus against getting involved: “It’s a question of priorities and resources. There is movement in Europe at the moment, with the EU behind us, so that is what we are concentrating on.”
Another spokesperson at a leading operator added: “There may come a time to step on the gas once again in the US – but that time is not now.” |
Posted Mon Apr 30, 2007 11:02 am GMT by vyni
Continuing egr, another interesting point:
Frank news positive but doubts persist whether non-US firms would be allowed in
Leading online gaming figures have cautiously welcomed the introduction of a bill by Congressman Barney Frank that could mark a sea change in US official attitudes to online gaming.
The Internet Gambling Regulation and Enforcement Act of 2007 bill put forward by the Democratic Representative from Massachusetts and co-sponsored by Republican Congressman peter King would see online gambling legalised in the US for the first time.
The financial services committee will hold a debate at a date to be determined in June of this year. It will be entitled: “Can internet gambling be regulated to protect consumers and the payments system?”
Said the spokesperson for one leading online gaming company: “This is encouraging, especially since it recognises the industry can be regulated and consumers can be protected. This is a step forward, whereas prohibition was exactly the opposite.”
Said another leading figure: “The Frank initiative is something that I had been saying is an unlikely occurance based on his reputation as something of a maverick politican. However I had not anticipated the actual mechanics of what has been proposed.”
He added: “I'm guessing he is unlikely to get high level support even though from a US perspective what he has proposed looks smart. That is, keeping the UIGEA keeps out overseas competition, meanwhile the new initiative in reality opens up the market to US-based companies (in reality).”
Such a view was clearly favoured by the City of London where both PartyGaming and 888 fell on the news.
According to the draft bill published for the first time this afternoon, “a licensing and regulatory regime for internet gambling in the US is needed to provide appropriate protections against underage gambling, compulsive gambling, money laundering and fraud for those citizens who choose to gamble online.”
The bill was introduced at a press conference held this afternoon in Washington DC. In a statement, Frank said that existing legislation was “inappropriate interference on the personal freedom of Americans and this interference should be undone”.
A legal source said: “This guy, Frank, is seen as being some sort of independent thinker. He is not really pro-gaming, but he is anti-totalitarian. He is a self-styled libertarian.”
The press statement goes on to say that traditional forms of legalised gambling already exist in nearly every state.
“By continuing to prohibit internet gambling in the US, the US has left Americans who choose to gamble online without meaningful consumer protections. The proposed legislation would institute practical and enforceable standards to bring transparency to internet gambling and provide consumers the protections they expect and deserve.”
Posted Mon Apr 30, 2007 11:11 am GMT by vyni
Sorry, one more 
Take what you will from these remarks...
| Quote: | Barney Frank has told eGaming Review he would not put his recently announced Internet Gambling Regulation and Enforcement Act to a vote on the floor of the House of Representatives unless he knew he could win.
Congressman Frank added that he had the verbal support of a number of Representatives who voted for the Unlawful Internet Gambling Enforcement Act last year.
As chairman of the House Financial Services Committee, he added that he was in control of the timing of any possible moves, including a possible debate entitled ‘Can internet gambling be regulated to protect consumers and the payments system?’.
“I control the timing of the Committee for legislation,” said Frank. “I would not schedule this for a vote unless I think the votes are there to support it. The process is: if and when I think I have the votes, I will have the votes on it.” |
Posted Mon Apr 30, 2007 5:08 pm GMT by khaosanroad
Smart on his part. The politicians speaking out against this right away probably haven't read the new bill yet.
Posted Mon Apr 30, 2007 6:07 pm GMT by Kalbelgarion
The fact that Frank's made so much noise about this indicates that's he actually serious about getting this measure passed. I have no idea what kind of chance this'll stand in the Senate or if Bush will sign it, but that we have the chairman of the relevant House committee on board is a very good first step.
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