Internet Gambling Bill To Get Mark-Up Tuesday

By: Mike Sachoff - July 23, 2010

The Internet Gambling Regulation, Consumer Protection and Enforcement Act (H.R. 2267) which was debated at a Congressional hearing this week is set to be amended or marked up by the House Financial Services Committee next Tuesday.

Michael-Waxman-Internet-Gam.jpg Michael Waxman, spokesperson for the Safe and Secure Internet Gambling Initiative tells WebProNews "Chairman Frank is clearly intent on moving forward his legislation to regulate online gambling activity."

"This mark up demonstrates that Congress is serious about moving Chairman Frank’s bill forward and establishing a strict regulatory framework for Internet gambling activity," said Waxman

"The passage of this legislation would be a win-win as it will protect consumers, create an estimated 32,000 new jobs over five years and provide federal and state governments with as much as $72 billion in new revenues over ten years."  

The legislation, introduced by Chairman Frank in May 2009, would establish a framework to permit licensed gambling operators to accept wagers from individuals in the U.S.  In addition to mandating an array of consumer protections, the legislation reinforces the rights of each state to determine whether or not to allow Internet gambling activity for people accessing the Internet within the state and to apply other restrictions on the activity as determined necessary. 

Since its introduction, a bi-partisan group of 69 co-sponsors has signed onto the legislation. A recent analysis by H2 Gambling capital predicts that Internet gambling regulation would create as many as 32,000 jobs over its first five years. 

"During this difficult economy, the revenue and job creation potential that regulated Internet gambling provides will go a long way to help states and families alike balance their budgets," said Waxman.



Mike Sachoff

About the Author

Mike SachoffMike is a staff writer for WebProNews.

View all posts by Mike Sachoff
  • Eb Netr

    Internet gambling is a lot like drinking was during Prohibition. Prohibition didn’t stop people from drinking. It just made it illegal and more lucrative to unscrupulous liquor smugglers and sellers and bootleggers.

    People will always gamble. It’s human nature and why shouldn’t they be able to? The Declaration of Independence mentions the inalienable rights to life, liberty and the pursuit of happiness. There’s no clause in there that says “except when the government doesn’t approve of what makes you happy.”

    States are missing out here on millions of dollars of income and so is the federal government. It’s this, I think, rather than the inalienable right to do what we want as long as it doesn’t interfere with someone else’s pursuit of happiness, that will get this bill passed.

    Most of the rest of the world has already dealt with this issue and regulated online gambling, so that it’s safer for the players, supplies the government with another income stream and also creates new jobs. It’s way past time the US did the same.

    Eb Netr

  • Guest

    We will see what happens, but if they are going to pass this they better move fast before anti-gambling republicans take back there seats.