House panel sets hearing on Internet gambling

[lots0]

WASHINGTON (Reuters) - A U.S. House of Representatives panel said on Monday it will hold a hearing on Friday to look at Internet gambling, which is effectively banned in the United States.

The hearing will examine whether Internet gambling can be regulated to protect consumers and the payments system, said the House Financial Services Committee.

Committee Chairman Barney Frank introduced a bill in April that would repeal an effective ban on online gambling imposed last year by Congress.

The Massachusetts Democrat said the ban was "imprudently adopted" and the pastime is "a matter of individual freedom."

Frank's bill would make it legal again for banks and credit card companies to make payments to online gambling sites.

The bill includes provisions for licensing and regulating online gambling companies to protect against underage gambling, compulsive gambling, money-laundering and fraud.

The Internet gambling payments ban was signed into law last October by
President George W. Bush. It has been closely monitored by investors in some British-based gaming companies, such as PartyGaming Plc.

Yahoo News Story

[footdr]

I think this is the Pastor that is going to testify, his son robbed a bank to pay gambling debt. Sad story

arrested that night and charged with robbery, theft by unlawful taking and receiving stolen property. He owed $5,000 in debts from playing online poker and later entered a treatment program for gambling addiction, according to his attorney, John Waldron.

Throughout the hearing on Wednesday, Hogan politely answered questions from the judge.

Under sentencing guidelines, he faces 22 months to three years in prison at his sentencing Aug. 17.

The Rev. Gregory Hogan Sr. said his son completed a 36-day treatment program for gambling addiction and has received a "good bill of health from that."

"Greg is very sorry," said the elder Hogan, who sat next to his son in court with his arm wrapped around him. "He's apologized. We're here to support our son. We love him."

Greg Hogan is no longer a student at Lehigh, said school spokeswoman Sarah Cooke. She said she could not comment on any possible school-related discipline because academic records are private.

Hogan's plea comes as Congress is debating whether to pass tougher laws to restrict online gambling. On Tuesday, the House passed legislation that would prevent gamblers from using credit cards to bet online and could block access to gambling Web sites.

[Mousey]

I fear that this hearing will be many testimonies of 'how gambling ruined my life'. I just hope they bring in a few witnesses that know how to gamble with disposable money and don't rob banks, or embezzle from the company they work for, or shoot their granddaddy for his pension check to pay their gambling debts.

[jetset]

QUOTE: The hearing will examine whether Internet gambling can be regulated to protect consumers and the payments system, said the House Financial Services Committee. UNQUOTE

and

QUOTE: The bill includes provisions for licensing and regulating online gambling companies to protect against underage gambling, compulsive gambling, money-laundering and fraud. UNQUOTE


This is a committee hearing, chaired by Barney Frank who is hoping to regulate and licence online gambling.

[Simmo!]

I would have thought it will hear both sides, especially as Frank is chairing it. Also, it may well be that testimonies of problem gambling could be used to support the idea of regulation more so than to dispell the idea. If anything, stories like that could be a positive in Frank's battle.

[jetset]

My own feeling is that the objective will be to debate the practicalities of regulation and keeping underage and problem gamblers out - available technology, that sort of stuff.

[Professor]

It's an extremely positive step that sane dialogue about online gambling and individual rights are finally taking place. Hopefully the conclusion will be a more enlightened approach to legislation. I am thrilled to see this happening

[lots0]

My own feeling is that the objective will be to debate the practicalities of regulation and keeping underage and problem gamblers out - available technology, that sort of stuff.

I hope that is the way it works out. But the opposition will have a say as well. I figure the opposition will go for the emotional gut responses (because that is all they have), I think they will be using stories like the preacher's son.

I think we all know this boy (the Preacher's son) could have done the same thing in any legit Land Based Casino, Indian Casino, Horse Track or any store that sells lottery tickets...

What I would like to know is who is paying for the trip to Washington and the Hotel bills for these so called "Witnesses" like this preacher that will appear at this hearing... Anyone wanna bet whoever it is that is paying the bills is associated with the land based casino industry?

[sdaddy]

In case this 10 a.m. hearing isn't broadcast on C-SPAN, I found this link on the Financial Services Committee website for live streaming video of scheduled hearings:

http://boss.streamos.com/wmedia-live...iop_070131.asx

[jetset]

MORE SPEAKERS NAMED FOR HOUSE HEARING

Friday's speaker list is getting longer and smarter

Further speakers for the House Financial Services Committee hearing on Congressman Frank's proposal to regulate and license online gambling in the United States have been announced.

A respected information security expert, Jeff Schmidt of Authis is the latest expert who will give evidence on the practicalities of regulating online gambling. He joins a list that includes Howard Lederer, a member of the Poker Players Alliance Board of Directors, and Radley Balko, senior editor of Reason Magazine. Both have expressed strong opposition to UIGEA's and are in favour of regulating Internet gambling in the U.S.

Gerald Kitchen, CEO of SecureTrading, a UK-based Internet payment service provider, and Jon Prideaux, chief executive of Asterion Payments, will also speak during the hearing. SecureTrading's Web site claims that it is able to "virtually eliminate risks such as underage gambling, money laundering and abuse by organized crime and fraud against consumers."

Baptist minister Greg Hogan may testify. Hogan's son was the subject of a 2005 high media profile criminal case and is currently serving a sentence of imprisonment in Pennsylvania. He was found guilty of robbing a bank to pay off debts to his fraternity brothers who helped him fund Internet poker accounts.

The House Financial Services Committee will hold the hearing, entitled "Can Internet Gambling Be Effectively Regulated to Protect Consumers and the Payments System?" on Friday, June 8 at 10 a.m. Washington time.

The hearing will be the first Congressional discussion on Internet gambling since the UIGEA, which bans financial transactions with online gambling companies other than those "exempted" such as horse racing, state lotteries and fantasy sports, became law last October.

Gambling Initiative said the hearing could be the first of up to four, and should be viewed as being part of the effort to get more members of Congress to understand online gaming.

“It’s part of the push to get more support,” a spokesperson said.

There are over 70 members on the financial services committee.

Congressman Frank has indicated that it would be helpful if US voters contacted their representatives before the hearings to courteously voice their opposition to the Unlawful Internet Gambling Enforcement Act, which seeks to ban financial transactions with Internet gambling sites.