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Thread: H.R. 2267: Internet Gambling Reg., Consumer Protect., and Enforcement Act Passes

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    Exclamation H.R. 2267: Internet Gambling Reg., Consumer Protect., and Enforcement Act Passes

    House Financial Services Committee Meeting on Internet Gambling Wednesday
    A hearing on Barney Frank's bill to license and regulate the Internet gambling industry has been scheduled for Wednesday at 2 p.m. EST in the House Financial Services Committee.

    In May, Frank had promised a committee markup, or vote, on the bill in July. This will not be that markup, rather an opportunity for discussion and testimony on the legislation.

    John Pappas, executive director of the Poker Players Alliance, said it is typical for the committee to hold a hearing prior to a markup and expects a markup to follow next week.

    There was one previous hearing on the legislation, referred to as HR 2267, in December. Since then, Capitol Hill has remained largely silent on the topic of Internet poker. In May, Rep. Jim McDermott (D-Wash.) held a hearing on his companion bill to tax the industry in the Ways and Means Committee. Frank testified at that hearing, promising that his bill would receive markup in July.

    2010 July 20, Matthew Kredell
    The Story where I found it



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    The hearing was pushed back an hour because Annie Duke will be one of the witnesses




    Financial Services Committee Hearing Features Annie Duke
    Jul 20th, 2010

    Wednesday’s hearing on internet gambling in the House Financial Services Committee has been pushed back one hour to 2:00pm ET. Also announced on Tuesday were the five witnesses that will present testimony in front of the Barney Frank-led group.

    Included in the panel is Poker News Daily Guest Columnist, UB.com sponsored pro, and reigning National Heads-Up Poker Championship winner Annie Duke. The “Celebrity Apprentice” runner-up’s testimony was published on the House Financial Services Committee’s website earlier today and reads in part, “At its most basic level, the issue before this committee is personal freedom – the right of individual Americans to do what they want in the privacy of their homes without the intrusion of the government.”

    Duke will speak on behalf of the Poker Players Alliance (PPA), the 1.2 million member strong lobbying group for the industry. After providing several personal freedom arguments, Duke will share a new vantage point on HR 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act: “To be clear, HR 2267 is not a bill that expands internet gambling in America. It simply provides the appropriate government safeguards to an industry that currently exists and continues to grow.”

    By Dan Cypra
    http://www.pokernewsdaily.com/financ...ie-duke-13580/



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    Personal freedom WTG Annie!



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    More stuff I found on this story.



    Barney Frank & Annie Duke Vs the Republicans

    Internet Gambling Regulation, Consumer Protection, and Enforcement Act
    Date: July 21, 2010
    Time: 2:00PM
    Location: 2128 Rayburn House Office Building
    http://financialservices.house.gov/H...px?NewsID=1330

    Internet Gambling Regulation Takes Center Stage before House Financial Services Committee
    Full Committee Hearing Reengages Members, Positions Bill for a Mark-Up

    WASHINGTON, July 21 /PRNewswire-USNewswire/ -- Today, the House Committee on Financial Services held a hearing to discuss the Internet Gambling Regulation, Consumer Protection and Enforcement Act (H.R. 2267). The legislation, introduced by Chairman Barney Frank (D-MA), would regulate Internet gambling activity in the U.S. and require licensed operators to put in place safeguards to protect against underage and problem gambling.

    "With the recent passage of financial reform legislation, it's great to see the Financial Services Committee now with the opportunity to focus its attention on other issues such as Internet gambling regulation," said Michael Waxman, spokesperson for the Safe and Secure Internet Gambling Initiative. "Today's hearing demonstrates that regulating Internet gambling remains a top priority for Chairman Frank. We're optimistic that this hearing will give the Committee the final push it needs to schedule a vote on the bill."
    http://www.prnewswire.com/news-relea...-98961934.html

    [Press Release] House Financial Services Committee Holds Hearing on Internet Poker Bill (07/21/10)
    http://www.scribd.com/doc/34659068/P...-Bill-07-21-10



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    Just to add some more to this story


    The Monitor's View
    Bill to legalize Internet gambling: No dice

    The House financial committee will mark up a bill Tuesday to legalize Internet gambling. Even many in the US industry oppose it. It is largely foreign gaming websites that are behind this attempt to overturn the 2006 ban.
    By the Monitor's Editorial Board / July 23, 2010

    Fresh from fixing Wall Street’s casinolike ways in high finance, Congress begins work Tuesday on a bill to overturn a 2006 law banning Internet gambling in the US. The measure is being rushed through the House Financial Services Committee on a promise that it would create 30,000 jobs and billions in tax revenue.

    President Obama hinted at his support for online gambling last year by delaying regulations under the 2006 law in order to give Congress time to change it. The regulations force American credit firms to block payments to offshore gambling operators.

    What’s exactly behind this drive to expand gambling in the US, especially a type done privately in the home rather than in a casino? Obviously there is the lure of money for both the government and the campaign coffers of politicians supporting this bill. (The same lure drives efforts to legalize marijuana.)

    But as former federal prosecutor Michael Fagan told the House panel marking up the bill: “Any parent who’s puzzled or despaired over their child’s trancelike playing of video games during the past 20 years can readily see why Internet gambling operators are drooling over the chance to legally expand their market base into the United States.”

    This foreign lobby and its domestic supporters want Congress to gloss over the negative effects of allowing gambling on every smart phone and laptop, where even a 10-year-old with a parent’s credit card might be able to wage bets at any time of day.

    “It’s ‘click the mouse, lose your house,’ ” states business professor John Kindt of the University of Illinois.

    Weeding out gambling addicts on the Internet can also be very difficult. As Mr. Fagan points out: “At least responsible brick-and-mortar casino operators can look a gambler in the eye and make the human assessment of whether he is too drunk, mentally unhinged, despondent and desperate, or otherwise at a point where it is simply unfair to take advantage of him any longer.”

    The proposed law would also likely prove weak in preventing gambling on sports. The pressure on athletes from gaming interests to throw a game would only increase under national Internet gambling.

    The estimates of up to $42 billion a year in tax revenue from Internet gambling have been seriously challenged by the bill’s opponents. But beyond the advantage to the US Treasury, Spencer Bachus, ranking member of the House Financial Services Committee, asks: “How does raking in cash from gambling addicts differ from taking a cut from the heroin sold to drug addicts?”

    Other problems may hopefully keep this bill from passage:

    It sets down a federal right to gamble and undercuts the ability of states and Indian tribes to regulate gambling. It doesn’t require operators of such sites to reside in the US where they can be properly regulated – and prevented from using computers to manipulate online players. And while states would be able to opt out of this law, the bill calls on only the governor to make that decision, and within 90 days of the bill’s passage.

    If foreign online gambling interests can easily influence passage of this bill, imagine what it might do to eventually water down regulations over their industry.

    The House Financial Services chairman, Rep. Barney Frank, needs to drop this bill and find other ways to raise revenue and create jobs than open the door to redistributing wealth from mainly poor Americans to mainly foreign gambling interests.
    http://www.csmonitor.com/Commentary/...mbling-No-dice
    ~~~~~~~
    House Financial Services Committee Schedules Mark Up of Internet Gambling Regulation Bill
    WASHINGTON, July 23 /PRNewswire-USNewswire/ -- Yesterday, the House Committee on Financial Services announced that the Internet Gambling Regulation, Consumer Protection and Enforcement Act (H.R. 2267), legislation introduced by Chairman Barney Frank (D-MA) that would regulate gambling in the United States, will be marked up on Tuesday, July 27, 2010 at 10:00 am in Room 2128 of the Rayburn House Office Building. The mark up, which comes on the heels of Wednesday's hearing on the legislation before the full Financial Services Committee, is a critical next step for the bill to become law.

    "This mark up demonstrates that Congress is serious about moving Chairman Frank's bill forward and establishing a strict regulatory framework for Internet gambling activity," said Michael Waxman, spokesperson for the Safe and Secure Internet Gambling Initiative. "The passage of this legislation would be a win-win as it will protect consumers, create an estimated 32,000 new jobs over five years and provide federal and state governments with as much as $72 billion in new revenues over ten years."

    The legislation, introduced by Chairman Frank in May 2009, would establish a framework to permit licensed gambling operators to accept wagers from individuals in the U.S. In addition to mandating an array of consumer protections, the legislation reinforces the rights of each state to determine whether or not to allow Internet gambling activity for people accessing the Internet within the state and to apply other restrictions on the activity as determined necessary. Since its introduction, a bi-partisan group of 69 co-sponsors has signed onto the legislation. A recent analysis by H2 Gambling capital predicts that Internet gambling regulation would create as many as 32,000 jobs over its first five years.

    The Story



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    If they "tax" casino's won't that lead to even "tighter" casino's ?



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    rouletteguy If they "tax" casino's won't that lead to even "tighter" casino's ?
    Not in reality...it will be monitored and we can feel much safer in being paid, a more fair game and a better regulation...no funny stuff as it is now...where one cannot quite put their finger on it...IMO

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    Quote Originally Posted by rouletteguy View Post
    If they "tax" casino's won't that lead to even "tighter" casino's ?
    This is obviously a complex issue involving state, federal and international tax laws but the bottom line is that the casino's wouldn't be interested in entering U.S. markets if they didn't think they could be making more money from those markets.

    So, theoretically, the casinos should be making more money, not less.



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    This is all covered in Friday's Casinomeister News, btw folks, and CM has been following the evolution of this legislative proposal for years.

    Legalised online gambling in the United States - which remains the biggest market in the industry - is the holy grail of all the major, well established and upfront online gambling groups, who would love to operate in the States (but have some fears that a commercially protectionist regulatory regime could be a threat).

    If Barney Frank does finally manage to get this done - and there are huge obstacles to overcome - I believe it would be good for the player for the following reasons:

    1) You can bet that the licensing requirements will prominently feature provisions to ensure fair play (tested software etc), blocking underage gamblers and strong responsible gambling requirements. That's going to discourage many of those duff operators screwing players around today.

    2) Operators will probably be big companies with healthy wallets and a target of high volume player action, and that probably means some very attractive software, customer relations and promotions, enhancing the internet gambling experience. Think of the sort of online experience and comps that top US casino groups like MGM and Harrah's could lay on!

    3) The competitive pressure (assuming that the legislation encourages fair competition and not political favourites) will be good for the player and bad for those crappy offshore operators and software providers (we all have our own lists of those) who have been treating players with contempt for years.

    4) The downside is the still unknown impact on the player of taxation, but from an American national perspective legalising online gambling if handled sensibly by government could generate both jobs and state revenues.

    5) Frank's HR 2267 contains provisions for states to opt out, so the autonomy of states is not diminished.

    6) Players will no longer need to be jerked around by the UIGEA, midnight flit processors, delays and difficulty in getting paid.

    7) Finally - and I write this tongue-in-cheek - it will get the WTO and Antigua off your backs!
    jetset



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    Anything new yet?


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