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US Legislator Barney Frank Moves to Repeal Online Gambling Law
On April 27, 2007, US Legislator Barney Frank announced that he is introducing a new bill in an effort to repeal the online gambling law passed by US congress last year.
According to Rep. Frank, House Financial Services Committee chairperson, his bill would allow the Department of Treasury to give licenses and standardize the online gambling companies that would give way to American bettors and allow players to gamble legally.
The hearing for this bill is slated for June of this year.
Aside from this bill, there are also 2 bills in the offing that would repeal the online gambling ban law. The other bill authored by Rep. Shelley Berkley will be introduced in the next few weeks.
The internet gambling ban passed last year disallows the use of credit cards and other online payment systems as part of payment schemes in placing bets on betting sites.
Rep. Frank believes that an online gambling ban is an intrusion of personal liberty.
However, the bill is expected to face odds as the Democratic legislator from Massachusetts said that it is unlikely to get support from Democratic leaders of Congress.
Online gambling is a $13 billion industry with licenses in more than 50 countries.
Rep. Frank added that the online gambling ban in the US is against the World Treaty Organization to which America is a member.
Sunday, May 13 , 2007
Edward O'Connor