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Could Frank's Online Casino Bill Sink All Hopes?

When Barney Frank’s online casino gambling bill was first released last week, many online gamblers were excited at the prospects of a bill that would repeal the UIGEA (Unlawful Internet Gambling Enforcement Act) and subsequently regulate and license online casinos in the United States. The bill was presented in such a way that the online gambling community would assume that it supports online casinos, as long as they are licensed by the federal government. But upon closer look, the Internet Gambling Regulation Enforcement Act (IGREA) does little more than the previous Act in terms of legalizing internet gambling and protecting gamblers when they play recreationally from home.

Frank’s bill does solve some of the previous complications and inconsistencies apparent in the UIGEA. For instance, the IGREA outlines precisely how financial institutions will interact with the licensed online casinos, and now protects the financial institutions when the institutions process payments from online gambling sites. Previously, there were no clear terms to follow, which has left banks floundering for the last six months,

But then Frank’s section outlining the process of legalizing the online casinos, and subsequently the individual state control over inter gambling within the state, is both poorly written, and written in such a way as to put the onus of allowing online casino gambling in the hands of each state. So though the government would license the online casinos, the states still then have the ultimate yay or nay over allowing the internet gambling. Below is the section explaining how frank proposes handling online gambling:

"(2) LIMITATIONS IMPOSED BY STATES — No internet gambling licensee may engage, under any license issued under this subchapter, in the business of conducting any particular types of gambling activities or other contests in any State which prohibits or limits such particular types of gambling activities or other contests if the Governor or other chief executive officer of such State informs the Director of such prohibition or limitation , in a manner which clearly identifies the nature and extent of such prohibition or limitation, before the end of the 90-day period beginning on the date of the enactment of the Internet Gambling Regulation and Enforcement Act of 2007, or in accordance with paragraph (3), until such time as any notice of any amendment or repeal of such specific prohibition or limitation becomes effective under paragraph (3)."

For the second part, see Frank's Bill: Part Two.