Barney Frank Will Have Few Online Gambling Luminaries at Friday's HearingWhose on the list of those who will be attending Friday's hearing on having the Unlawful Internet Gambling Enforcement Act repealed a la Congressman Barney Frank? Few people that the online gambling industry is familiar with.
The industry in general is skeptical of Frank's proposed legislation since it restricts those with prior arrest records (including bookmaking) from operating an online casino, poker room or sportsbook. That's probably more than 70% of the industry. The sports betting side in particular was started off shore mostly by individuals who left the States because they tired of having law enforcement bust their doors down every couple of months.
Kelly Larkin, the director of scheduling for Frank's House Financial Services Committee said that it could be "vital" for citizens who support the Congressman's proposal to contact their individual state political representatives to stress their support.
Frank's Bill HR 2046 the Internet Gambling Regulation and Enforcement Act, proposing regulation and licensing is scheduled for a hearing by the Committee mid-morning this Friday (June 8).
Frank sent a letter to all congressmen this week explaining his bill, Larkin revealed, reiterating that voters calling before the meeting would be vital for getting representatives on board with regulation.
HR 2046 specifically aims to amend title 31, United States Code, by providing for the licensing of Internet gambling facilities by the Director of the Financial Crimes Enforcement Network.
The witness list for the hearing includes Howard Lederer, who is well known to the poker community. But Radley Balko, Senior Editor of Reason Magazine, Gerald Kitchen, CEO of SecureTrading and Jon Prideaux of Asterion Payments are not so much. And that is not to say these people are not good at what they do, but few of those Gambling911.com spoke with knew any of the witness names outside of Lederer.
Some suspect that certain payment processors are being lined up to assume positions once held by online gambling ePayment provider NETeller, and that the US government would be able to maintain them on a very short leash.
A wrench was thrown into the mix Tuesday when Gambling911.com first broke the story that The Interactive Media Entertainment & Gaming
Association (iMEGA) is seeking judgment restraining the United States
from enforcing the "Unlawful Internet Gambling Enforcement Act of 2006"
(UIGEA) (see story here)
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Christopher Costigan, Gambling911.com
Originally published June 6, 2007 2:36 pm ET
