Online Gambling Industry To See Possible Regulations Soon

Written By Janice Doughtrey

There have been many outcries from the online gambling industry, software providers and online casinos around the many ‘midnight rulings’ put in place by the Bush Administration just prior to their departure. That, combined with other issues going on throughout the rest of the country regarding online gambling, including the Kentucky court ruling and the UIGEA Act of 2006 have made it seem like the future of online gambling in the U.S. was bleak at best.

But now top U.S. Democrat and chairman of the House of Financial Services Committee, Barney Frank, has vowed to launch and offensive to roll back these last minute legislations believing that the time is right to unlock restraints against the thriving industry which have raised issues around freedom of rights in Americans.

Frank has stated through the Financial Times that he plans to reintroduce the bill within the next several weeks to establish formal licensing and regulatory frameworks for the online gambling industry. He also was hopeful that several practices including the arrest of many executives of online gambling companies would cease on the basis of being outrageous.

The proposed bill has been discussed at the last Congressional session however was not voted on. Frank hopes the public support will also help propel his bill to the vote as there has been a large wave of support and protests demanding the right to gamble online. Time will tell in the next few weeks whether the bill will move forward.

Leave a comment