Poker

Online Gambling Regulations Bill Approved by House Committee

A bill that would license and regulate online gambling in the United States was passed this Wednesday by the House Financial Services Committee.

This is the third time similar bill is voted. The first one was overruled and the second one relating to sports betting only was passed, however, it was never voted by the full House of Representatives.

The Internet Gambling Regulation, Consumer Protection, and Enforcement Act (HR 2267) received substiantial support with 42 votes in favor, 22 against and 1 present.

The included amendments on inappropriate advertising, bans on ads targeting minors and testing of minor protection systems. In addition all online gambling facilities targeting U.S. residents are to be located within the United State, all games should have the odds of winning posted clearly, as well as loss limits, age and location verification would be introduced.

Nevertheless, from the Poker Players Alliance quickly praised the bil. "The fact is, online poker is not going away," said former Sen. Alfonse D'Amato, chairman of the PPA in a statement. "Congress has a choice – it can license and regulate it to provide government oversight and consumer protections, or our lawmakers can stick their heads in the sand, ignore it, and leave consumers to play on non-U.S. regulated websites in all 50 states. I'm glad the Financial Services Committee today overwhelmingly chose to act and protect Americans as well as preserve the fundamental freedoms of adults and the Internet."

Before actually becoming a law, the bill need to be voted by the full House of Representatives and the Senate. Provided it passes both institutions, President Obama will have to sign it. All this needs to happen before the end of the year within this legislative session. If not, then the process will start anew with different composition of the House and the Senate.