Internet Gambling Regulation and Enforcement Act Gets Criticism

The Internet Gambling Regulation and Enforcement Act introduced by Representative Barney Frank is raising criticism by some in the online gambling industry. After having several days to read the language of the bill, industry insiders are left uncertain whether the IGREA would protect online gambling operators.

Stocks of internet casinos took a down turn on the London Stock Exchange when this news hit. It had been hoped that the bill would protect online casinos, their affiliates and the financial institutions which handle money transactions for online gambling. Instead, many suggest that the bill would leave these outfits in jeopardy, while clearing the way for Indian casino operators to enter the online gambling business.

Provisions of the bill apparently make it illegal to run an online casino in a state where land-based casinos are illegal.

Even within those states, one would have to receive a license to run an online casino, which would be arbitrated by the Director of the Financial Crimes Enforcement Network. Instead of leaving it to a regulatory committee, the bill seems to leave regulation in the hands of one man, one who strangely is a law enforcement individual.

Click here to learn more about the new online gambling bill.

NATIVE AMERICAN CASINOS

There is an exception for Native American tribes who operate legal land-based casinos. They would be excempt from local state laws and could build online operations. The charge is that Barney Frank is doing no more than working on behalf of the Indian tribes to get special status for them. I hope that isn't the case.

It seems that some players don't think the bill has a chance to become law. If it simply helps one small section of the poker industry, I don't see the widespread support gathering for the Internet Gambling Regulation and Enforcement Act. If this actually sees to the interests of the huge sub-section of America which wants the government out of their rights to spend their gambling money online, then this bill could pick up momentum.

One thing is for certain. The Wire Act was never a problem before the Bush Administration came to power. To see the Department of Justice waste its time running around prosecuting online gambling transactions is absurd. What a complete waste of taxpayer money.

Wouldn't the people be better served if the DoJ spent all its time fighting the War on Terror or the War on Drugs?
Nope. The Bush Administration prefers to fight the "War on Gambling".

Anyway, I'm not sure where I stand on this bill. I have to learn more, because I'm no lawywer myself. It is said the bill does help the "financial system", which I assume means the online banking institutions. If that's the case, then this bill does help online casinos. That is what has brought American internet poker playing to a halt.
THE POKER PLAYERS ALLIANCE

I want to see where the Poker Players Alliance comes down on this argument. Their organization has the resources to get solid legal advice, and will be interested in a law which gives American players unconstrained freedom to play online poker. Stay tuned for our ongoing coverage of this debate.

Internet Gambling Regulation and Enforcement Act Gets Criticism