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New Bill Amendments

Rejoicing took place all over the online casino gambling industry this week as the House Financial Services Committee actually passed through the long-awaited bill that will regulate and license a US online casino gambling industry. The bill has been developed and shaped over the past three years by Congressional Representative and the bill’s sponsor, Barney Frank. Frank’s bill passage has made headlines even in the mainstream media this week because it has been such a long and hard road – and the passage in the Committee brings the US one step closer to regulating offshore online casinos and benefiting from the booming growth of internet gambling. Naturally though, to pass the UIGEA the Committee made several key changes to the bill that will not only give more shape and scope to the legislation should it take effect, but will also help the bill more easily find passage in the full House and Senate.

There were several amendments to the bill that were added during the markup stage. These additions were designed and added for several reasons – in some cases as protections for the US online casino gamblers, other protections in place for land based and tribal gaming industries that are already active throughout the US. If the bill is passed through into law the online casinos will actually stimulate new job growth in the market because of an amendment that mandates that licensed gambling sites operate out of the US. Additionally, player protection amendments include mandates that the gambling sites do not accept credit card transactions as well as responsible gambling measures that will protect underage and problem gamblers.

Although there were many amendment additions and tweaks made in the language of the bill the Committee left the integrity of the bill in place and should HR 2267 pass the US would have a new set of online casino gambling regulations and legislation that pre-empts the controversial UIGEA and instead creates a safe and structured US market.