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Newest Internet Gambling Regulation, Consumer Protection, and Enforcement Act.

Posted 3/18/11 : Lawmakers John Campbell and Barney Frank introduce the latest version of the Internet Gambling Regulation, Consumer Protection, and Enforcement Act.
 
In a bi-partisan move Thursday, Californian Republican John Campbell and Massachusetts Democrat Barney Frank introduced the 2011 model Internet Gambling Regulation, Consumer Protection, and Enforcement Act.
 
The new attempt at federal legalisation of online gambling has been keenly anticipated for the past few weeks following the (temporary) failure of state Sen. Ray Lesniak's New Jersey intrastate bill.
 
Early reports suggest that the new proposal is almost a carbon copy of Frank's HR2267, which failed to make the House floor for debate and vote before the last Congress adjourned, along with another federal measure aimed at legalising online poker sponsored by Sen. Harry Reid.
 
The last Frank bill attracted a bipartisan mix of some 70 co-sponsors, but early reports on the new initiative do not mention the current position.
 
Campbell and Frank were supported in the introduction of the bill by Representatives Peter King (Republican) and Ed Perlmutter, a Democrat from Colorado.
 
Supporters of legalisation argue that the 2006 UIGEA law has done little to deter Americans who want to gamble from seeking out offshore online gaming sites. They say the United States should legalise online gaming and set up a regime to tax and regulate it to ensure consumers are better protected, and that tax revenues from online gaming could raise billions of dollars over the next decade.
 
"Clearly, Americans want to gamble on the Internet, and policymakers need to provide both the freedom to do so, as well as ensure that appropriate consumer protections are in place," Campbell said in a statement. "Regulating online gaming and making certain that these sites are operating legally in America will also create economic growth through generated tax revenue and the possibility of attracting foreign players to U.S. sites."
 
The Poker Players Alliance, which has been closely monitoring the new bill's progress, issued a press release late Thursday commending the introduction of the new bill and calling for its timely consideration.
 
PPA chairman and former Senator, Alfonse D’Amato, said: “Given that millions of Americans currently play online poker, states across the country are recognizing the value in licensing and regulating the game and many are introducing their own laws to allow for residents to play in a safe, regulated market while collecting millions in tax revenue.
 
"However, instead of a patchwork of state laws limiting the pool of players against whom residents can play and serving to only protect the Americans in those states, the time is now for Congress to step up and pass federal legislation, like the Internet Gambling Regulation, Consumer Protection and Enforcement Act, that allows the entire country to benefit.
 
”The comprehensive bill closely reflects H.R. 2267, which passed through the House Financial Services Committee in July 2010 with overwhelmingly bipartisan support and addressed concerns raised in the hearings.
 
"Calling for the implementation of new technologies to prevent under age play and problem gambler abuse, the bill expands consumer protections not included in the current Unlawful Internet Gambling Enforcement Act (UIGEA).
 
"In addition, the federal government and the states will have the authority to prevent consumer fraud and generate revenue through taxes that are currently being paid to competing countries.
 
"Key provisions of the bill include, among other things:
 
* Thorough vetting of potential licensees and creation of an OFAC-style list of illegal operators;
 
* Mandatory implementation of technologies to protect against underage gambling using the commercial and government databases used for online banking to verify age and identity;
 
* Requirements for operators to set daily, weekly or monthly limits on deposits and lossesto monitor and detect individuals with excessive gaming habits;
 
* High standards to thwart fraud, abuse and cheating to ensure fair games for customers;
 
* Regulation to prevent money laundering; and,
 
* Processes to prevent tax avoidance.
 
“I commend Representative Campbell and Ranking Member Frank for their leadership to protect players’ rights while implementing important consumer safeguards. We look forward to supporting this vital legislation as it moves through the legislative process,” D’Amato concluded.
 
With the Republicans controlling Congress, and online gambling's arch-enemy Representative Spencer Bachus now chairing the House Finanacial Services Committee, the new bill faces some formidable obstacles in the months ahead.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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