HR2267 now has 58 co-sponsors

[jetset]

FOUR MORE FOR BARNEY (Update)

Co-sponsor list for HR 2267 now numbers 58

The list of political co-sponsors for Congressman Barney Frank's attempt to legalise and regulate online gambling in the United States, HR 2267, continues to grow, with four new names added this week.

Representatives Lynn C. Woolsey of California, Christopher S. Murphy of Connecticut, William Lacy Clay of Missouri, and Adam B. Schiff of California are the latest congressional representatives to give their support to the bill, which is currently on hold due to pressure of economic legislative requirements but which Frank wants to re-energise in October, and certainly before the end of the current session of Congress.

[Webzcas]

More info here: http://www.opencongress.org/bill/111-h2267/show

I can't see this being discussed this year. The US has too many more pressing issues, such as the economy and Obama's planned Health Care Reforms.

Middle of next year is my educated guess.

[cheetahwind]

This would be a good step for industry as a whole. We could actually get a chance to play with some operators located in the US that can use the ACH system for a lot cheaper. Plus allow us to make deposits using our actual bank issued debit cards versus having to circumvent them with 3rd party eWallets.
Now I could see some credit card issuers and certain electronic payments providers still blocking the use of credit cards for internet gambling, but also with that same note. If there located in the US there would be access to a few more checks and balances than there are in the current market that's being served here. By legally being licensed here in the US the casino could actually run a credit report to verify identity or something similar. Plus you know for a fact chargebacks would significantly less because card companies are going to be a bit more stringent against useless chargebacks because you didn't win.
I'm not a big fan of having to pay the taxes, but if we legalize it here. It'll become inevitable. I hope they implement something similar to what we have right now. Requiring all actual jackpots of $1199 or over to be reported vs every transaction over a certain amount.
So anyways I give this bill two thumbs up and hope people can see the benefits to this option. Might leave some rogues in the dust completely and there business might dry up.

[Westland Bowl]

.....I can't see this being discussed this year. The US has too many more pressing issues, such as the economy and Obama's planned Health Care Reforms.

Middle of next year is my educated guess.

Taxes are always a "pressing" part of a Congressional agenda so I can see a bill on regulation of online gambling being tacked on the end of a totally unrelated economic bill and passed without any discussion!

[jetset]

Heh, Heh - now that sounds like a familiar political tactic

[vinylweatherman]

It's not just US players that can be taxed either, if taxes were applied on operators (such as x% on gross profit, or on "hold"), rather than players, then US based operators could attract players from the rest of the world with a very strong emphasis on the stringent regulatory regime as opposed, say, to that of Costa Rica.

Many casinos would move to US based regulation in the same way that many have moved to places like Malta - to enable access to a lucrative marketplace.

[jetset]

The tax imposed, and the way in which it is levied, is certainly an interesting subject and a deal-breaker for many operators I'm sure.

And you can bet that the land-based industry would be lobbying for an 'even playing field' in tax terms once a legalised online gambling market became inevitable.

[jetset]

SPONSORSHIP LIST FOR BARNEY'S BILL GROWS (Update)

Two more give their support, bringing political sponsor list to sixty

After several weeks of holding at 58 co-sponsors, Congressman Barney Frank's HR2267 proposal to legalise online gambling in the United States moved forward with the sponsorship of two more members of Congress this week, bringing total and bipartisan support to sixty.

Representatives Bennie Thompson (of Mississippi's second district) and Adam Smith, who represents the ninth district of Washington, are the latest politicians on the hill to sign up for the bill, which House Financial Services Committee chairman Frank still hopes to push through Congress in the current session despite the high workload in the Capitol caused by the current world financial crisis.