Frank Testimony Before the Ways and Means Committee on Internet Gambling

[lots0]

Lotso, I think you're talking about the Restoring American Financial Stability Act of 2010 bill that just passed correct? If so then yes it would be great if the House added Mr. Franks bill as he's clearly on the right track somewhat. I see a few minor flaws that I'm going to e-mail or send him a letter about.

Correct.

I would also like to point out that one of the biggest enemies of online casino regulation in the US, Senator John Kyle from AZ, will have no say whatsoever in what happens in Conference. The Republicans lost their ability to influence the Bill after they lost the cloture vote... and that is great news, as far as I am concerned.

Very interesting. Unfortunately, I doubt it will change a thing for the banned states...

Course not. But at least folks have a better chance of changing State laws as opposed to Federal laws. Most the states that have made online gambling specifically illegal have done so at the bequest of the Federal Government (or local Native Tribes that control brick and mortar casinos)... Once the Feds are out of it, it will be a piece of cake to convince State legislatures to legalize and regulate once they see ALL THAT MONEY they will collect in taxes.

[Mousey]

A related article in The Hill

http://thehill.com/news-by-subject/t...enue-prospects

Note that Goodlatte and Bachus are spewing their usual nonsense.

[lots0]

A related article in The Hill

http://thehill.com/news-by-subject/t...enue-prospects

Note that Goodlatte and Bachus are spewing their usual nonsense.

Good link Mousey! I missed that article somehow.

Goodlatte, Bachus and Klye can spout all the crap they want, about how they are going to stop regulation and consumer protection of online gambling, but the fact is, like I said before, they lost their ability to directly influence the Bill when they lost the Senate Cloture Vote on Financial Reform.

I also think that a lot of prominent folks in Washington are starting to see these guys cries of "save the stupid from gambling" for what they really are... Cries of, "I must protect the companies that give me money!!".

[RobWin]

Four more good article links here on Representative James McDermott's (D-WA) page:

http://www.opencongress.org/bill/111-h4976/show
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[jetset]

A related article in The Hill

http://thehill.com/news-by-subject/t...enue-prospects

Note that Goodlatte and Bachus are spewing their usual nonsense.

Useful and interesting article, Mousey - the emotional and subjective arguments stirred up by "the other side" are now getting a little repetitive and threadbare...they don't get anywhere near the soundbyte style coverage the media afforded them before imo.

On the other hand the protagonists for legalisation are balancing subjective opinions on players' rights with hard factual information.

[BingoT]

Just to add a few articles I saw




High Stakes Showdown: Internet Gambling Debate Rages on Capitol Hill
With New Law Aimed at Crippling Online Betting Set to Take Effect June 1, Democrats Push for Legalization; GOP Calls Their Bluff

With just two weeks to go before a federal law aimed at quashing Internet gambling takes effect, a handful of House Democrats , including Rep. Barney Frank, D-Massachusetts, are going all in, pushing for the legalization of some of the most popular forms of online gambling. The lobbying is intense, and the stakes are high – by some estimates the Internet gaming industry generates as much as $6 billion a year in profits – and no one on either side of the debate appears ready to fold.
Connecticut's economy is struggling and casinos are doing little to help.

Meanwhile, in an exclusive interview with ABCNews.com on Tuesday, Rep. Spencer Bachus, R-Alabama, the Ranking Member of the House Financial Services Committee, said he would do everything in his power to stop the legalization of Internet gambling, specifically singling out online poker.

"Internet gambling is the crack cocaine of gambling," Bachus told ABCNews.com. "Young people are particularly vulnerable – we don't want to put a casino in every dorm room in the country. Compulsive gambling, by many accounts, is a very serious, growing problem."

By RICH BLAKE
The Story on this

~~~~~~~~~~~~~~
U.S. lawmakers consider Internet gambling bills

WASHINGTON (Reuters) - Internet gambling should be legalized and taxed in the United States to raise $42 billion in revenue over a decade and legitimize gamers who bet online, backers argued before a congressional panel on Wednesday.

"We are talking about a decision by adults to do what they want to do with their own money," said Democrat Representative Barney Frank, who sponsors a bill to legalize online gaming, citing John Stuart Mill's essay "On Liberty" to make his point.

By Kim Dixon
Reuters
The story at Reuters

[lots0]

On the bright side of all this...

Sen. Mitch McConnell (R-KY) the Senate Minorty leader has shifted his position... Right along with the Horse Racing Indrustry's position on online gambling.

"Funny" how these Senators positions change right along with their largest contrubutors positions... Reminds me of a whore... these politicos will go along with anything for money.

[MissB]

CasinoCity did a running commentary on it as it happened yesterday. Thought it was fascinating myself and I found the fact that a number of people involved seemed to have quite open minds almost refreshing. Struck me as a political debate done how it should be done without too many people getting bogged down in the usual issues.

I agree, most from the committee seemed very open-minded. It's only a matter of time before gambling is legalized ion the US.

[pepermintpatty]

Good link Mousey! I missed that article somehow.

Goodlatte, Bachus and Klye can spout all the crap they want, about how they are going to stop regulation and consumer protection of online gambling, but the fact is, like I said before, they lost their ability to directly influence the Bill when they lost the Senate Cloture Vote on Financial Reform.

I also think that a lot of prominent folks in Washington are starting to see these guys cries of "save the stupid from gambling" for what they really are... Cries of, "I must protect the companies that give me money!!".

Thanks so much Mousey! You do great research!