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U.S. Legalisation - movement at last

Discussion in 'Casino Industry Discussion' started by jetset, Nov 25, 2009.

    Nov 25, 2009
  1. jetset

    jetset Ueber Meister CAG

    Occupation:
    Senior Partner, InfoPowa News Service
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    MOVEMENT AT LAST - US LEGALISATION BILLS HEARING DATE SET

    Barney Frank's bills HR227 and 2266 ready to go

    After months of being delayed in the House Financial Services Committee by more pressing economic issues, it looks as if the legalisation of online gambling in the United States is about to come back onstage.

    Two bills - HR2267 seeking to legalise and regulate online gambling, and HR2266 proposing to postpone the implementation of the UIGEA regulations by a year - are scheduled for public hearings by the committee in Washington DC on Thursday, December 3rd 2009 at 10 am.

    The hearings will be broadcast over the Web with the link on the committee's website, whilst the hearings will be held in Room 2128 of the Rayburn House Office Building, covering HR 2266, the Reasonable Prudence in Regulation Act and HR 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act. Both proposals were introduced in May 2009 by Congressman Barney Frank, who is also chairman of the House Financial Services Committee.

    HR 2266 has 53 bi-partisan co-sponsors, whilst HR 2267 has 63 co-sponsors.

    The hearings are the first really major development in the United States legalisation of online gambling since September 2008, when Franks HR 6870 was approved by a 30-19 margin, but failed to complete the 110th Congress and lapsed.

    The House Financial Services Committee is comprised of 41 Democrats and 29 Republicans, chaired by Massachusetts Democrat Barney Frank.

    Strong opposition to any legalisation can be expected from the leader of the Republicans on the committee, Representative Spencer Bachus, long an opponent of Internet gambling.
     
    12 people like this.
  2. Nov 25, 2009
  3. Simmo!

    Simmo! Moderator Staff Member

    Occupation:
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    You must register/login in order to see the link. for those that want a link to watch the session next week :) For those that have never watched or listened to the HoR in session it's eye opening and debates are very well organised. Also should be some amusing comments from detractors I would imagine.

    We should open up a spread bet on the first time "family values" gets mentioned by a rep from a State with land-based casinos ;)
     
    5 people like this.
  4. Nov 25, 2009
  5. lots0

    lots0 Banned User - troll posts - flaming PABnonaccred

    Occupation:
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    My 2 cents...

    If your entertained by Hypocrisy... This hearing should be right up there with the music award shows...
     
  6. Nov 26, 2009
  7. jetset

    jetset Ueber Meister CAG

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    Hopeful sign.

    Yesterday, Treasury Secretary Geithner reportedly compromised on the December 1st implementation date for the UIGEA regulations following various petitions from organisations like the PPA, the horseracing industry, individuals and politicians (notable among them this week 6 Kentucky Representatives).

    An announcement is expected this week, but it is understood from iMEGA and other sources that the regulations will be postponed for 6 months - a compromise on the 12 months proposed by Barney Frank, but still useful.
     
  8. Nov 26, 2009
  9. Simmo!

    Simmo! Moderator Staff Member

    Occupation:
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    Presumably that means they can spend less time debating the Delaying Bill and more time on the Regulation Bill next week?
     
    1 person likes this.
  10. Nov 28, 2009
  11. jetset

    jetset Ueber Meister CAG

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    Speaking of which, the Fed and the US Treasury have agreed to postpone the implementation of the UIGEA regs by six months - to June 1st 2010.
     
  12. Nov 28, 2009
  13. Mousey

    Mousey Ueber Meister Mouse CAG

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    Frank's Statement

    Got this from the FSDUpdate email...

     
    3 people like this.
  14. Nov 28, 2009
  15. greek39

    greek39 Dormant account webmeister

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    Love those words so very true.

    greek39
     
  16. Dec 4, 2009
  17. DaveG39

    DaveG39 Experienced Member

    Occupation:
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    Anybody know what happend, or can you post a link? Thanks.
     
  18. Dec 4, 2009
  19. AuntieIdiot

    AuntieIdiot Meister Member

    Occupation:
    head chef and chief bottle washer
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    You might check out You must register/login in order to see the link. and You must register/login in order to see the link....
     
    1 person likes this.
  20. Dec 4, 2009
  21. greek39

    greek39 Dormant account webmeister

    Occupation:
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    The FBI's unrelenting pursuit of continuing its' crusade against online gambling.

    Makes me wonder if the FBI is under anyone's control lol. Read carefully the FBI contradicts themselves. According to them online poker is illegal as is cheating the game. But how can one illegally cheat the game if its already illegal to begin with.

    I don't know just find it amusing lol.



    greek39
     
    Last edited: Dec 4, 2009
  22. Dec 4, 2009
  23. 4 of a kind

    4 of a kind Repeated violations of forum rule 1.16 - troll

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    You must register/login in order to see the link.


    Just saw this same address above.
     
  24. Dec 4, 2009
  25. Mousey

    Mousey Ueber Meister Mouse CAG

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    Bachus is babbling now... worried about "our young people" ... *sigh*

    Would someone please gag and hogtie this moron? and NO I didn't vote for him....
     
  26. Dec 4, 2009
  27. jetset

    jetset Ueber Meister CAG

    Occupation:
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    The PPA were quick off the mark in refuting that one!

    A couple years back it was money-laundering that the FBI chose to chastise online gambling, despite some well documented studies that there had been no such thing, and that in fact online presented better financial tracking mechanisms.

    This was referred to again in the present hearings when Rep. Peter King (R-N.Y.), the current ranking member and former chairman of the Committee on Homeland Security spoke up, asserting publicly that he is not aware of any money laundering or terrorism financing through Internet gaming. He pointed out that if financial crimes were a legitimate concern, then regulation and oversight as proposed in H.R. 2267 is the best way to mitigate that risk.

    Then there's the repeated Bachus accusations that online gambling is more addictive than land gambling, something with he knows very well is BS following extensive studies from various respected outfits, not least of which is the Harvard study.

    It seems these guys are so desperate that they are happy to perpetuate untruths that they know are exactly that, which doesn't say a lot for their much boasted religious morality.

    I had to grin at Bachus accusing Frank over the 3 year delay in getting the UIGEA into force - blithely ignoring the fact that the Treausry and Justice bureaucrats under the Republican Bush Administration screwed around trying to draft same for over two years!

    Then there was Robert Martin, tribal chairman of the Morongo Band of Mission Indians in California who claimed that legalising online gambling would be prejudicial to tribal gambling interests.

    His objection was challenged by Congressman Frank, who noted that the Morongo had recently tried to engineer online poker legalisation state laws that would give them a degree of exclusivity.

    "They are not against Internet poker in general and in fact are trying to get involved in the industry by passing legislation in California," Congressman Frank observed. "You want to be able to do it and have no one else do it, is that the issue?"

    Martin did not respond to the challenge.

    Samuel A. Vallandingham, chief financial officer and vice president of The First State Bank speaking on behalf of the Independent Community Bankers of America said the UIGEA makes impossible demands on community banking in the US. He testified that the attempt to block payment transactions by online casino operators is a burden the financial industry cannot handle.

    "The added burden of monitoring all payment transactions for the taint of unlawful Internet gambling would drain finite resources currently engaged in complying with anti-terrorism, anti-money laundering regulations, the plethora of new regulations emerging from the financial crisis and the daily operation of community banks to meet the financial needs of their customers," he opined.

    He also drew attention to the imprecise definition of illegal online gambling provided in the UIGEA, commenting that because no overriding law exists, banks would have the problematic task of determining each customer's legality with regard to hundreds of state, federal, and local laws.

    "ICBA strongly endorses H.R. 2267, the Internet Gambling Regulation, Consumer Protection and Enforcement Act which establishes a federal regulatory and enforcement framework for licensing Internet gambling operators," concluded the banking representative, throwing the bankers' support squarely behind Barney Frank's bill.
     
    6 people like this.
  28. Dec 4, 2009
  29. greek39

    greek39 Dormant account webmeister

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    Awesome post Jetset you nailed it my feelings exactly!

    Thanks

    greek39
     
    1 person likes this.
  30. Dec 4, 2009
  31. Mousey

    Mousey Ueber Meister Mouse CAG

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    I'm at work and am missing parts of this... will probably have to leave before it's over .... someone (JetSet LOL) please post an update when possible.

    Thank you!
     
  32. Dec 4, 2009
  33. greek39

    greek39 Dormant account webmeister

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    Amazing debate more in our favor IMO!

    Bachus is way off base.

    greek39
     
  34. Dec 4, 2009
  35. Simmo!

    Simmo! Moderator Staff Member

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    I meant to tune in but was out...I read that the main line of attack from opposition was over the possibilities of identity theft! If that's truly the main argument against, I'd say things are looking up! The same article suggested that the debate didn't really achieve anything other than re-introducing the topic into the arena, but having not listened I'm not sure how accurate that report is.
     
  36. Dec 4, 2009
  37. greek39

    greek39 Dormant account webmeister

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    Simmo!,

    I was viewing this in mp format

    You must register/login in order to see the link.

    Best debate I heard in years, inching closer to regulation. Roughly hour and half long grab a coffee, beer or whatever.

    greek39
     
    Last edited: Dec 4, 2009
    1 person likes this.
  38. Dec 4, 2009
  39. lots0

    lots0 Banned User - troll posts - flaming PABnonaccred

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    I watched it... twice.

    I was truly amazed how logical and realistic the legalization and regulation side of the debate was.

    Some good points from my perspective:

    1. Rep. Peter King (a Republican), who is the ranking member and former chairman of the Committee on Homeland Security. Has said that in several years he has seen no evidence of a connection between Terrorism and Online Gambling and that he supports Rep. Frank's two bills... (this is huge politically as King has dissed Bacus, one of his party leaders and sided with Frank, one of the Liberals most disliked by the conservative leadership.)

    2. The opposition has not been able to provide evidence that online gaming has increased the rate or percentage of gambling addicts. The evidence and studies presented all show that gambling addiction levels have stayed about the same (as a % of population) for a very long time.
     
    1 person likes this.

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