ONLINE SPORTSBOOKS
Forums Reviews and Ratings Archived Chats News Mediations Blacklist Links

March-14-2007,
UIGEA NEWS ALERT...By David Stalcup

The office of US Congressman Barney Frank, who is chairman of the House financial services committee, has confirmed that he is currently working on legislation to repeal the Unlawful Internet Gambling Enforcement Act.

The news item appeared this afternoon on the Financial Times website and has been confirmed to eGaming Review by Frank's press department. The details of how any repeal would take action have not been worked out and no timeframe was given.

Frank is quoted as describing last autumn's Act as one of the "stupidest laws" ever passed and adds: "I am working on legislation to cut back on this internet gambling thing. I think it's preposterous".

While rumours of Barney Frank's support for a repeal of the Act had been circulating around the egaming industry in the past few weeks, Frank himself had not confirmed or commented on them. Shares in PartyGaming, 888 and Sportingbet were all up this afternoon.

The FT says the mid-term Democratic victory in the US Congress brought some hope to the online gaming sector and John Conyers, chairman of the House judiciary committee, is also considered sympathetic to the industry.

But while Frank and Conyers are "powerful potential allies, it is far from clear that the lawmakers would have enough support to pass any meaningful legislation" because it is not clear "whether the votes would be there for a regulatory bill".

The FT adds that the US treasury is currently drafting the rules to implement the Act but that the deadline for presenting them has been missed and is now expected in April or May.

Reprinted from:

http://www.egrmagazine.com/item/1669

03-14-07
David Stalcup
Editor-in-Chief MajorWager.com
editor@majorwager.com



US CITIZENS PLEASE NOTE:THE INFORMATION CONTAINED AT THIS SITE IS FOR NEWS AND ENTERTAINMENT PURPOSES ONLY. ANY USE OF THIS INFORMATION IN VIOLATION OF ANY FEDERAL, STATE OR LOCAL LAWS IS PROHIBITED.
� majorwager.com inc


Please be advised that if you are wagering over the internet, this is illegal in many jurisdictions. A wagering site may be operating legally at their location but it may still be illegal for you to wager from your location. We suggest you check on the legal situation from any jurisdiction in which you may wager.

MajorWager.com - Your Information Source for Online Sportsbooks, Industry Information, Online Handicapping.
Sport News - NFL, NBA, NCAA, MLB, Football, Basketball and Baseball.


Site Map | Contact Us | Forums | Scores | Stats | Resources | Glossary | Gamblers Anonymous | Online Guide
Majorwager is part of the Major Network
Best View: 1024 by 768
Home Live Lines Contact Us Recommended Mediation Requests Chat