..

Online Gambling Bill HR 2267 Passes With Amendments

Written by:
C Costigan
Published on:
Jul/28/2010
online gambling

With the historic passage of HR 2267 through a 41-22 vote, online gambling is one step closer to becoming legalized in the United States.  Presently, such businesses must operate offshore with US citizens often finding it difficult to send and receive funds for gambling.  The measure was introduced by Congressman Barney Frank (D-Mass)

"The Committee's bi-partisan vote to approve Chairman Frank's legislation is nothing short of historic," said Michael Waxman, spokesperson for the Safe and Secure Internet Gambling Initiative.  "With Congress bitterly divided and only a handful of bi-partisan bills coming out of the Financial Services Committee, we're pleased Committee members from both sides of the aisle were able to come together to advance this important legislation."

Amendments to HR 2267 included a provision that would allow customers to determine their individual loss limits before being able to play on-line and protect customers by ensuring the customer privacy and security and protecting against fraud and money laundering.  

Fraud protection has long been a top priority of the online gambling sector with many strong platforms being introduced throughout the years by the top companies. 

According to a Joint Committee on Taxation tax revenue analysis, regulated Internet gambling is expected to generate as much as $42 billion in federal government revenue over its first 10 years.

"The momentum of today's vote and growing bi-partisan support for online gambling regulation demonstrates to congressional leaders in the House and Senate that this issue is a priority and should be addressed," said Waxman.  "Leaving in place a failed prohibition should no longer be the government's misguided policy approach, leaving millions of Americans vulnerable as they continue to find a way to gamble online in a thriving underground marketplace."

The legislation has drawn the support of 69 bi-partisan co-sponsors.

Christopher Costigan, Gambling911.com Publisher

Gambling News

CoolBet Customer 50,000 Gets Big Surprise

CoolBet Customer 50,000 Gets Big Surprise

Emilie Lundegård Pedersen (19) from Bodø became Norwegian customer number 50,000 at coolbet, the company that has been voted the country's best for two years in a row.   The prize is around US$1000.

Gambling and Sports Betting News March 30, 2020: Asia Casinos Predict Up to 80% Visitor Drop First Half of 2020

Here are today's headlines in the world of gambling and sports betting as they happen - Monday March 30, 2020.

Tribal Gaming Official Rejects Oklahoma Governor’s Offer

Tribal Gaming Official Rejects Oklahoma Governor’s Offer

The state’s top Native American gaming official rejected Oklahoma Gov. Kevin Stitt’s latest casino gambling offer on Friday and accused the governor of trying to take advantage of the tribes during the coronavirus pandemic.

Can I Bet With BetOnline From Washington State?

Can I Bet With BetOnline From Washington State?

BetOnline is accessible from Washington State and offers some of the best welcome bonuses in the business.

Gambling and Sports Betting News March 26, 2020: Still No Mobile Sports Betting in NY

New York Governor Andrew Cuomo has put the kibosh on mobile sports betting for 2020.

Syndicate