Online gambling bill introduced

Rep. Barney Frank, D-Mass., has introduced a bill to the House of Representatives that would let licensed operators offer online gambling to Americans. Though he admits it's a longshot, it's a step toward reversing the effects of the Unlawful Internet Gambling Enforcement Act. Below is a (weak) Associated Press story about it. Click here to go to Frank's Web site, which has a lot more information and a link to the actual bill.

We'll give Frank's people a ring to see if we can get the Congressmen on the podcast soon.

- SCOTT

WASHINGTON (AP) — The ban on Internet gambling enacted last fall would be overturned under legislation proposed Thursday by a senior House Democrat, but the bill faces long odds in Congress.
Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, said the law preventing the use of credit cards to bet online “is an inappropriate interference on the personal freedom of Americans, and this interference should be undone.” More bluntly, he has called the ban “one of the stupidest things I ever saw.”
Because traditional forms of legal gambling exist in nearly every state, Frank said, a continued prohibition on Internet gambling for Americans leaves those who choose to gamble online “without meaningful consumer protections.” He said his bill includes safeguards to ensure that gamblers are at least 18 years old and live in a jurisdiction that permits online gambling, and to prevent compulsive gambling and fraud.
The $12 billion Internet gambling industry is based outside the United States — most of the companies are British — though about half of its customers live in America.
Supporters of the U.S. ban maintain that Internet betting can be addictive and potentially drain people’s savings, a risk they say is especially acute for young people who are frequently online.
Frank acknowledged that the Democratic leadership of the House likely would not support it. The Bush administration also could be expected to oppose the legislation.
The vote for the ban in the House, for example, was 317-93 last year. Lobbying for it were the horse racing industry and professional sports leagues, which argued that Web wagering could hurt the integrity of their sports.