New Internet Gambling Regulation And Enforcement Act

May 7, 2009 - Written By Bonnie

The pro longed  bill to legalize online gambling was introduced at a press conference Wednesday morning on Capitol Hill. Barney Frank unveiled the details surround the newly introduced bill called the Internet Gambling Regulation Consumer Protection and Enforcement Act of 2009, which proposes a federal system be put in place to license, regulate and tax Internet gambling operators. In an attempt to delay the Unlawful Internet Gambling Environment Act compliance until December 2010, Frank introduced an additional bill that would do so.

The Internet Gambling Regulation Consumer Protection and Enforcement Act of 2009 , if passed, will give the Department of Treasury the exclusive authority to enforce regulations and to license Internet gambling operators. Gambling operators would be subject to reviews of how the entire operation is run. Department of Treasury will have the right to review anything from financial history, to employee background checks. The willingness to comply with U.S. jurisdiction will be closely monitored as well. In addition, The Department of Treasury will also be responsible for enforcing licensing, imposing fines, and or imprisonment or license revocation for those whom violate the provisions of this bill.

This bill is set to protect not only the gambling operators but consumers as well. Safeguards and monitoring will be a constant effort to protect online gambling operators and customers, which will including enforcing age limits and making sure that the online gambling is being conducted from a legal location. There will be provisions in place to ensure that patron privacy is protected, protection against money laundering attempts and prosecution against those that try, and guards to prevent compulsive gambling.

What poker players hope to see happen with the Internet Gambling Regulation Consumer Protection and Enforcement Act of 2009, is that government officials take notice to the pros that come of making online gambling legal. USA Poker players have spoken out on several occasions only to be drowned out by representatives against the legalization of online gambling. With many new Representatives on Barney Frank's side, we can only hope that the legislators acknowledge that the pros out weigh the cons by far and this bill can in fact help our economy.