Feeds

Rep. Barney Frank takes a gamble on online wagering

Sticks it to the UIGEA

High performance access to file storage

House of Cards It's official- outspoken Massachusetts representative Barney Frank unveiled sweeping legislation yesterday that would not only repeal the unpopular Unlawful Internet Gambling Enforcement Act (UIGEA) but also provide clear-cut regulation for an industry that has been expanding rapidly outside of the United States or gone underground within American shores.

“The existing legislation is an inappropriate interference on the personal freedom of Americans and this interference should be undone,” Frank stated on his website.

The legislation covers all of its bases, with opt-outs for state jurisdictions that don’t want a regulated online gaming environment and ample provision for containing the perceived social ills associated with the gambling industry. The Internet Gambling Regulation and Enforcement Act of 2007, as it’s officially known, addresses concerns (some well-founded, some not) about potential money laundering, compulsive gambling and underage gambling.

Heretofore there has been no generalized federal gambling law – the laws under which those in the internet gambling industry have been prosecuted are a patchwork of laws written in the early sixties to prevent loan sharking and money laundering by the mafia. Indeed, the only type of gambling explicitly prohibited has been wagering on sports events (other than horse racing) over interstate phone lines. Even sports wagering will be allowed if the bill becomes law, provided that the affected industries sign off on the bill.

As the press release notes, “the Act establishes a federal regulatory and enforcement framework to license companies to accept bets and wagers online from individuals in the U.S., to the extent permitted by individual states, Indian tribes and sport leagues. All such licenses would include protections against underage gambling, compulsive gambling, money laundering and fraud.”

The legislation is a welcome breath of fresh air. The histrionics of social conservatives over the perceived ills of gambling led to an ill-conceived UIGEA bill that had to be rushed through in the middle of the night, like some kind of drug deal. Frank’s bill would eliminate whatever gray area exists in federal law concerning the internet gambling industry.

Whether or not reason will prevail in both houses of Congress could be a bit of a long shot - not to mention navigating a potential Bush veto.

At the very least, the online gambling industry is getting the open debate it should have gotten last year when the UIGEA snuck through on the back of an unrelated port security bill.®

High performance access to file storage

More from The Register

next story
Android engineer: We DIDN'T copy Apple OR follow Samsung's orders
Veep testifies for Samsung during Apple patent trial
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
One year on: diplomatic fail as Chinese APT gangs get back to work
Mandiant says past 12 months shows Beijing won't call off its hackers
German space centre endures cyber attack
Chinese code retrieved but NSA hack not ruled out
EFF: Feds plan to put 52 MILLION FACES into recognition database
System would identify faces as part of biometrics collection
Big Content goes after Kim Dotcom
Six studios sling sueballs at dead download destination
Ex-Tony Blair adviser is new top boss at UK spy-hive GCHQ
Robert Hannigan to replace Sir Iain Lobban in the autumn
Alphadex fires back at British Gas with overcharging allegation
Brit colo outfit says it paid for 347KVA, has been charged for 1940KVA
Jack the RIPA: Blighty cops ignore law, retain innocents' comms data
Prime minister: Nothing to see here, go about your business
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.