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Will it Make the Agenda?

The international online casino gambling industry is waiting with anticipation for the outcome of the latest House Financial Services Committee deliberations. Top on the priority for internet gamblers are the deliberations related to HR 5767…unfortunately the House Committee has not placed the proposed bill as such a top priority and most analysts assume that the Committee will not even make it to the bill until Wednesday or later. The bill is a low priority compared with some of the other major U.S. financial concerns that the Committee will address this week. As for the HR 5767 though, the bill has widespread support and opposition in the U.S., making this controversial issue a hot topic for the international and national media.

HR 5767 was introduced just two months ago by Congressmen Barney Frank and Ron Paul as an alternative to the controversial and flawed UIGEA enforcement regulations. Congress held a hearing two months ago to address the proposed UIGEA regulations – the outcome of the hearing was largely negative although the proponents and opponents were given equal time to prove their point, the banking and financial services sector showed extreme opposition to the online casino gambling ban’s proposed regulations. HR 5767 was announced shortly after the hearing and is wholly designed to put a firm halt on the continued development of these flawed regulations.

While the Committee will surely take the red pen to the bill this week, altering some of the bill’s wording and specifics, those in support of a licensed and regulated online casino gambling industry see this bill as an important first step. Opposition though is fierce at times from the religious right (opposed to any form of gambling really and internet gambling in particular) and the sports leagues which are currently benefiting from zero foreign competition and slot profits from the U.S. online betting industry.