|
|
October 4 - Barney Frank, the leading politician in the fight against the Unlawful Internet Gambling Enforcement Act (UIGEA), has been dealt another bitter blow. After a volatile week on Wall Street, the House floor was unable to hear Frank's HR 6870 bill and has pushed the hearing off until next year.
|
Advertisement |
|
|
HR 6870, which was passed by the Financial Services Committee several weeks ago, calls for the legal definition of the UIGEA and is the closest that Frank has managed to get in order to have this controversial law clarified once and for all. One of the main issues that banks and financial institutions have with implementing the UIGEA is that its language is vague and ambiguous, leading to confusion in the industry.
After the Financial Services Committee passed the first round of the bill, the HR 6870 was due to reach the Senate floor this week. However, the collapse of several top banks, the financial woes of others and the sharp price drops on Wall Street left the floor no choice but to deal with more pressing matter and to push the vote on HR 6870 to the attention of the new Congress in 2009.
This is not the first time that Frank has had to fight to keep his online gambling bill from falling on the wayside. The first draft of the bill was rejected by the Financial Services Committee and only after it was revised that he managed to get it passed.
Because the bill will be dealt with by the new Congress, it remains to be seen how the presidency in the United States will affect it, as well as online gambling in general. Analysts predict that the Democrats are likely to gain a few extra seats in the House, which could have a positive affect on the future of internet gambling. Some are even hoping that the new Congress will bring with it the beginning of the demise of the UIGEA once and for all.
If passed, Barney Frank's HR 6870 will force the government to outline once and for all which games and forms of entertainment are illegal under the UIGEA.
Related Gambling Articles:
- New Slots For Peak Entertainment Online Casinos - 10-07-08
- Golden Casino Launches Mah Jong Madness Video Slot - 10-06-08
- Charity Website Appeals to Gamblers for Funds - 10-05-08
- Premier League Betting - Tricky Weekend For Big Four - 10-04-08
- Free NFL Betting Picks From The Football Handicapping Pros - 10-03-08
- All Slots Online Casino Mega Tournament Reaches Half Way Stage - 10-02-08
- BetUS.com Posts Odds on Economic Impact of Presidential Election - 10-01-08
- Fourth Poker Room Joins Playtech Italian Network - 09-30-08
|
|
|
Del.icio.us
Digg
Google
Spurl
Furl
Simpy
Y! MyWeb
OnlyWire
Redit
StumbleUpon
Technocrati