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Online Casinos and Affordable Housing

Barney Frank’s online casino regulation and licensing bill, HR2046 has been gaining political support over the past couple of months ever since Frank made his formal presentation before fellow politicians. Since the UIGEA came into effect last October, politicians and Americans alike are seeking new legislation that bring back online casinos to the U.S. And though Frank’s bill has gained numerous political supporters over the past month, a new rumor suggesting an affordable housing addition to the proposal could either boost political support or sink the bill altogether.

The reports though are, at this point, still merely speculative and unsourced, but online casino industry analysts are still weighing the effect the addition would have if there is truth to the rumor. Basically, Frank has carefully crafted IGREA for maximum appeal to politicians regardless of party allegiance. He has also gone out of his way to present the bill as a solution to potential fraud concerns expressed by UIGEA supports. Though legalization of online casinos, and the subsequent licensing and regulation of the industry, not only would the government have control over all gambling

But if he has in fact added an affordable housing addition to the IGREA proposal, he could loose some of his bi-partisan support. The speculated housing addition has nothing to do with the online casino gambling industry, and instead aims to alleviate the rising rate of home foreclosures in the United States with a $1 billion fund. The fund would then be used to build 1.5 million homes in the next ten years.