HR2267 has been passed with amendments by the House Financial Services Committee by a vote of 41-22.
The Bill can now be brought to the House of Representatives floor for consideration, and if passed, move on to the final hurdle - consideration by the Senate where a 2/3 majority is required.
A number of amendments were required before the bill passed. Key among them were a prohibition on operators who have been accepting US resident bets during the last few years from obtaining a license, and a prohibition of credit card use to fund accounts - prepayments or debit cards only will be needed.
If passed into law, HR2267 will legalize most forms of online gambling including poker and casino games (but excluding sports betting) for Americans, and allow operators to obtain licenses to offer and market their services within the US.
Potential government revenues from associated gaming taxes appears to be the main reason for certain House members changing their stance on regulated online gambling. As explained by Rep. Brad Sherman,
'I have opposed this bill for years, but I am slowly changing...The best reason for this bill is the prospect for revenue.'
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