Online Casino Transfer: News - Second Comes First

05/22/2010		Online Casino Style: News Second Comes First
Home History Games News Dictionary		In the true spirit of political red tape, a rumor is spreading within the online gambling community, informing those interested in the progress of legalization of internet casinos in the United States. The latest tidbit shares the likelihood that a companion bill designed to complement Barney Frank’s regulatory bill will make its way ahead of HR 2267, subjected to debate and a hearing before the lead bill itself. According to some staffers from the office of Representative Jim McDermott, the secondary bill could be up for consideration as early as the 19th and 20th of May. McDermott’s bill was drafted as a companion proposal to Barney Frank’s HR2267; HR2267 would legalize forms of online gambling on the federal level, effectively negating the Unlawful Internet Gambling Enforcement Act of 2006. McDermott’s bill would regulate the taxation and financial elements of the regulation, laying a framework for how the newly liberalized market will be safely monitored. McDermott’s bill, called the Gambling Regulation and Tax Enforcement Act, will be first reviewed by the House Ways and Means Committee, the hearing which now has apparently been scheduled before the end of the month. The fact that the bill will see its review prior to the Frank bill is significant to the online gambling community, mostly because it marks the first time that the proposal will be considered on its own merit, and considered as an individual draft. It established an assumption that the legalization of online gambling is, in fact, an inescapable fact, and that regulation is a very need, if not imminent need, that must be considered. Similarly, the success of the McDermott on its own dime will serve to support the Frank bill, as few excuses will be available for opposition on how such a change could be implemented.

05/22/2010

Online Casino Style: News
Second Comes First

In the true spirit of political red tape, a rumor is spreading within the online gambling community, informing those interested in the progress of legalization of internet casinos in the United States. The latest tidbit shares the likelihood that a companion bill designed to complement Barney Frank’s regulatory bill will make its way ahead of HR 2267, subjected to debate and a hearing before the lead bill itself.

According to some staffers from the office of Representative Jim McDermott, the secondary bill could be up for consideration as early as the 19th and 20th of May. McDermott’s bill was drafted as a companion proposal to Barney Frank’s HR2267; HR2267 would legalize forms of online gambling on the federal level, effectively negating the Unlawful Internet Gambling Enforcement Act of 2006. McDermott’s bill would regulate the taxation and financial elements of the regulation, laying a framework for how the newly liberalized market will be safely monitored.

McDermott’s bill, called the Gambling Regulation and Tax Enforcement Act, will be first reviewed by the House Ways and Means Committee, the hearing which now has apparently been scheduled before the end of the month. The fact that the bill will see its review prior to the Frank bill is significant to the online gambling community, mostly because it marks the first time that the proposal will be considered on its own merit, and considered as an individual draft. It established an assumption that the legalization of online gambling is, in fact, an inescapable fact, and that regulation is a very need, if not imminent need, that must be considered. Similarly, the success of the McDermott on its own dime will serve to support the Frank bill, as few excuses will be available for opposition on how such a change could be implemented.