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Revisions Needed on Current Bill

The current online casino gambling bill that passed through initial voting in the House Financial Services Committee has generated a lot of celebration and excitement in the gambling industry. The UIGEA banned offshore online casino for the past four years and many gambling analysts and gambling groups see the recent vote as an indication that the bill is headed toward fuller passage in the US House and Senate. But some critical observers with interests in the US internet gambling industry are concerned that there is still some work needed on the bill before gambling companies can fully rejoice about the passage. In fact, Party Poker is one of the sites more pessimistic about the current structure of the bill and spreading the word that changes are needed.

As the bill went through the markup process several new amendments were added, others just altered. Although the main integrity of the bill remains the same – the legalization, regulation and licensing of online casinos in the US, there are certain amendments that have offshore gambling groups and their investors highly concerned. For Party Poker, amendment 15 on the new online casino gambling bill would not allow this poker gambling group to obtain a US license, a fact that has the site feeling chagrined and is not sitting well with the poker site’s investors.

In the new online casino gambling bill passes through into law as it stands all internet based gambling groups will have to obtain a US license before they can operate legally – if Party Poker is excluded from licensing the site will face a huge loss in business and potential business and all of the other legalized sites will maintain a huge advantage over the gambling group.