National Initiative Launched to Support New Internet Gambling Legislation

[drunkguy]

The Safe and Secure Internet Gambling Initiative launched today to drive action in support of legislation introduced by Congressman Barney Frank (D-MA) to license and regulate Internet gambling in the U.S. The Initiative will raise awareness about the need for a regulated environment where Americans can gamble online in the privacy of their own homes. Currently, millions of Americans enjoy gambling online, but cannot do so legally. Many see the current prohibition as unnecessary government intrusion.

The Initiative will mobilize voters to support the legislation and engage their elected officials. Right now, consumers are not protected when they gamble online. The regulatory approach included in the legislation would provide necessary protections against fraud, money laundering and identity theft.

Founders of the Initiative are UC Group, an integrated payment processing services and logistical support to online product and service providers, and Baker Tilly, the eight largest accountancy consultancy in the world. Additional endorsers can be found on the Safe and Secure Internet Gambling Initiative Web site.

Safe and Secure Internet Gambling Initiative

[drunkguy]

National Effort Launched To Promote Regulated Internet Gambling



Congressman Frank’s Bill Provides Consumer Safeguards



May 17, 2007 – A national initiative was launched today to support new legislation introduced by Congressman Barney Frank (D-MA) to license and regulate Internet gambling. The Safe and Secure Internet Gambling Initiative will raise awareness about the need for a regulated environment where Americans can pursue their popular recreational activities in the privacy of their homes. The Initiative will mobilize voters across the country online to support the bill.



“Millions of Americans are currently gambling online in an unregulated environment without any consumer protections,” said Jeffrey Sandman , spokesman for the Initiative. “Internet gambling is a matter of personal choice and many Americans see the current prohibition as an unnecessary intrusion into their private life. Stringent licensing and regulations will protect American consumers and provide safeguards to protect against underage and compulsive gambling. Representative Frank’s bill is a big step in the right direction to limit government intervention that is futile and heavy handed.”



Additionally, the Internet Gambling Regulation and Enforcement Act of 2007 contains provisions to ensure the integrity of financial transactions and to protect against money laundering, identity theft and fraud.



The strict licensing requirements under the proposed legislation would be administered by the Financial Crimes Enforcement Network of the U.S. Treasury. All Internet gambling operators, both domestic and international would be treated similarly and subject to the regulations.



Founders of the Initiative are the UC Group and Baker Tilly. Additional endorsers are highlighted on the Safe and Secure Internet Gambling Initiative website. The UC Group provides integrated payment processing services and logistical support to online product and service providers. Baker Tilly is the eighth largest accounting consultancy.



For more information on the Initiative and the Internet Gambling Regulation and Enforcement Act of 2007, please visit Safe and Secure Internet Gambling Initiative. The website provides a means by which individuals can register support for the Internet Gambling Regulation and Enforcement Act with their elected representatives.

[stevo]

[i]“Millions of Americans are currently gambling online in an unregulated environment without any consumer protections,” said Jeffrey Sandman , spokesman for the Initiative. “Internet gambling is a matter of personal choice and many Americans see the current prohibition as an unnecessary intrusion into their private life. Stringent licensing and regulations will protect American consumers and provide safeguards to protect against underage and compulsive gambling. Representative Frank’s bill is a big step in the right direction to limit government intervention that is futile and heavy handed.”
/I]


Like in normal life there are winners and losers. This should be the same.

Futile is right.

[JC]

Do not support this group. They are pushing the Frank bill which is anti-sports betting and not WTO compliant.

[indio]

hey JC, I have a question. Lets suppose for arguments sake that the frank bill gets enacted. Lets assume that online poker is now legal but certain types of sports betting is not. If any type of payment processor is allowed to legally process funds, woulnd't all sports book just have a poker room like many do anyway and then continue to operate sports betting without interference?

Once the proccesors are left alone, i have to believe the draconian assault on sports books would pretty much wither. If sports betting is left "technically" illegal, but not prosecuted ( sort of like pre-UIGA), I would certainly be content.

I realize the bill stinks and it gives too much regulataory power to a licsencing board but as long as the shops are independantly owned, and players can still freely do buisness with offshore shops ( perhaps they need some token office in the US), i think that would at least obtain the objective of bettors.

Curious to hear your thoughts .

[JC]

I don't think that would really pass the laugh test with the regulators. I think all of the processors would be on notice tthat if they do any business with a company that operates a sportsbook that they are going to be in trouble. And as we have seen, with few exceptions, and I won't name names of the courageous, most of these processors have no balls. They'll all fall into line like sheep.

[buddyboy]

books take horse bets, horse betting has an exemption... tell me how to send/get money

[Dell Dude]

This Frank bill would be worse than UIGEA. Any offshore sportsbook or pokerbook would be nuts to voluntarily subject themselves to this type of regulation. In fact, unless they move their operations to the US, the US has no right to regulate them. Period. So just on that fact alone, this bill should be DOA. Then when you get into the particulars, it goes downhill. Any bill to regulate online gambling should first only deal with companies who want to set up or relocate to the US. Then the magic of the free market will take over. If it's a good setup, they will come and be successful. If it's not, then offshore will continue to dominate.