As Representative Barney Frank proposed a bill that would regulate Internet gambling in the country the online gambling debate may soon heat up in the US Congress. On Wednesday a hearing was held regarding the legislation, and a new date has been set for next Tuesday. That hearing is going to be crucial to the outcome of the vote on Frank’s legislation, he believes that’s the time to strike and overturn the Unlawful Internet Gambling Enforcement Act (UIGEA).
The UIGEA was created to stop Internet gambling in the US, but still has not been defined what constitutes an illegal betting activity and in the first few months of its existence it has done little to block online gambling. Not only Millions of gamblers in the country are logging into online poker sites on a daily basis, but also financial institutions have been saddled with the responsibility of blocking transactions to and from online gambling sites. The mark up stage that begins on Tuesday will be crucial to the outcome of the vote on Frank’s legislation.
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