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Defining the Term

The entire world has been forced to ponder the meaning of the term “illegal internet gambling” over the past two years because of the vagueness of the UIGEA. And even though politicians from both parties have expressed concerns about the UIGEA and the affects that the act is having on the global online caisno gambling industry, no changes have as yet been made to the wording of the UIGEA. The UIGEA remains as a piece of largely incoherent and protectionist legislation that unfairly blocks foreign gambling companies from accessing the US online casino gambling market. In recent months there has been a big push in Congress for the lawmakers to refocus their UIGEA efforts on defining the term “illegal internet gambling” rather than the previous focus on the development of enforcement regulations for the UGIEA.

Barney Frank made some serious progress with his initiative to force the politicians to define the term “illegal internet gambling” through the Payment Service Protection Act, HR6870. This piece of legislation passed through the House Financial Services Committee and is now on the slate to go through markups in the House. Although many in the online casino gambling industry were hoping that the House would look at the bill this last week the financial crises in the US and the widespread debate over the $700 billion bailout bill took precedence all week.

The financial crisis is a chief concern for the US right now while the ban on foreign online casinos has been a huge debate topic over the past several weeks and is not likely to pass easily through the House. Frank’s bill, while it had bipartisan support in the House Financial Services Committee, will not have a very smooth passage through either the House or the Senate if it does eventually pass.