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Online gambling bill defeated

25 June 2008

The House Financial Services Committee rejected a bill Wednesday that would have prohibited the Treasury Department and the Federal Reserve from proposing and implementing regulations to enforce the Unlawful Internet Gambling Enforcement Act.

In its mark-up session, the Committee adopted an amendment proposed by Rep. Peter King (R-NY) that would not only stop the implementation of any UIGEA regulations, but would also force the Treasury Department, the Justice Department and the Federal Reserve to sit down and define unlawful Internet gambling. King said that this "was a banking issue, not a gambling issue" and that the banking industry shouldn't be in the position of determining what is legal and illegal.

The King amendment was defeated by the full committee with a vote of 32 for and 32 against. The original bill proposed by Rep. Barney Frank (D-Mass.) and Rep. Ron Paul (R-Tex.) was defeated in a voice vote.

The defeat is a blow to both the online gambling industry, which has been looking for ways to repeal the UIGEA, and the banking industry, which wants no part in trying to regulate the online gaming industry.

"The PPA is surprised that the Financial Services Committee today failed to clarify what constitutes 'unlawful Internet gambling' under the Unlawful Internet Gambling Enforcement Act (UIGEA)," said Alfonse D'Amato, chairman of the Poker Players Alliance. "The King Amendment would have required a separate formal rulemaking with an administrative law judge to determine the definition of unlawful Internet gambling."

"The Federal Reserve, Department of Treasury and the banking industry have all testified before Congress that the lack of a definition of 'unlawful Internet gambling' makes it extremely difficult if not impossible to enforce this law and would result in a broader review and denial of financial transactions because they could possibly be deemed unlawful under UIGEA," D'Amato added.

Online gambling bill defeated is republished from Online.CasinoCity.com.
Recent Articles
Best of Vin Narayanan
Vin Narayanan

Vin Narayanan is the managing editor at Casino City. When he's not writing or editing stories, he likes to play Chinese Poker, Badugi, Razz and any other "non-traditional" poker game. He also thinks blackjack is his best game and loves game theory.

Before joining Casino City, Vin covered (not all at the same time) sports, politics and elections, wars, technology, celebrities and the Census for USATODAY.com, USA WEEKEND and CNN.

A proud graduate of Michigan State University, Vin can be found on most nights and weekends trying to find a way to watch the Spartans play football or basketball.

Vin Narayanan
Vin Narayanan is the managing editor at Casino City. When he's not writing or editing stories, he likes to play Chinese Poker, Badugi, Razz and any other "non-traditional" poker game. He also thinks blackjack is his best game and loves game theory.

Before joining Casino City, Vin covered (not all at the same time) sports, politics and elections, wars, technology, celebrities and the Census for USATODAY.com, USA WEEKEND and CNN.

A proud graduate of Michigan State University, Vin can be found on most nights and weekends trying to find a way to watch the Spartans play football or basketball.