Yesterday the US Government's Financial Services Committee ("The Committee") had a full hearing to debate proposed online gambling legislation.
The Committee was debating the merits of H.R. 2267, Internet Gambling Regulation, Consumer Protection, and Enforcement Act ("the Act"), a piece of legislation drafted by Committee Chairman Barney Frank.
The Act, if passed, would replace the current UIGEA regulations with a regulatory and licensing regime for US based online gambling operators, giving US players access to locally sanctioned operators, while at the same time raising gaming tax revenue for the Treasury.
In addition to views expressed by Committee members testimony was also heard from Ed Williams on behalf of the Credit Union National Association, Lynn Malerba, for the Mohegan Tribe of Connecticut, Michael K. Fagan, Law Enforcement/Anti-Terrorism Consultant and Annie Duke speaking for the the PPA.
The usual broad spectrum of opinions were canvassed. On the pro-online gambling regulation side, Americans' freedom of choice, the failure of current prohibitions and the upside of additional revenues were arguments offered in favor of the proposed law.
Increased incidence of problem gambling remains the key argument of opponents.
An archived webcast of the full hearing is available for viewing at the Committee's website here.
About the Committee:
The Committee oversees matters broadly relating to financial services sectors including banking, insurance, real estate and securities. It is a forum for debating the suitability of legislation for introduction to the House of Representatives which includes testimony of both Committee members and invited witnesses/experts. The Committee is Chaired by Rep. Barney Frank.
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