Barney Frank To Introduce Internet Gambling Legislation On Wednesday

Two and a half years have passed since the restrictive UIGEA legislation came into force in the U.S.

But this afternoon a bill is sent that would reform the law so as to resemble the old model.

Committee Chairman Barney Frank (D-MA) will hold a press conference to unveil legislation that will enable Americans to bet online and put an end to an inappropriate interference with their personal freedom.

Currently, the government could use the money to pay for some of the important general expenses.

My view is not that there should be an intensive taxation, but, like so many other legitimate activities of a smaller tax rate, "said Barney Frank, chairman of the House Financial Services Committee.

The bill would "create an exemption to the UIGEA for operators that are licensed and regulated. UIGEA, which was enacted in 2006, restricts the use of the payments system for Americans who seek the freedom to gamble online."

Only 9 out of the 22 poker networks currently offer games for the Americans, so it can potentially be a profitable model for the United States. But according to Barney Frank, the economic issue is not the most important.

Lets get US players back at the poker tables at all poker rooms.

US Poker Rooms

$1,000,000 To Prove That Poker Is A Game Of Skill

On Phil Galfond´s blog you can read about a great challenge. Although Phil thinks it's unlikely they would get taken up on this, he would love to play to prove that poker is a game of skill.

Phil writes: " the fact that we're legitimately offering $1,000,000 to $1 should convince some people that there's more to this game than just luck. "

The challenge:
With Congressman Barney Frank preparing to introduce legislation this month addressing the ambiguities of the Unlawful Internet Gambling Enforcement Act (UIGEA), BluefirePoker.com is willing to put its money where it’s mouth is, to prove that Poker is a game of skill, not luck.

They are offering $1,000,000 to President Obama or any member of the U.S. Congress willing to play a Poker game against any of their poker pros, and the winnings can go to the charity of choice.

No one in their right mind would turn down this challenge if Poker were a game based on luck, because the odds are so far in their favor. Putting up $1 for a chance to win $1,000,000.

The specific terms of the game are to be announced but the format will include an equal number of chips at the start of the game. The length of the game must also be long enough to demonstrate the advantage of skill, in the long run the better player wins the game because the player’s skills increase the odds of success.

You can read Phil Galfond´s blog here.

And you can digg the story here.

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Mr. Frank Will Bring Back Legislation To Repeal The UIGEA.

The Unlawful Internet Gambling Enforcement Act has placed a strain on relations between the US and other European Union members. That was never more clear than when it was discovered that the EU has the US on a short leash.

They have extended a lifeline to the US to fix the problems that have been created by the UIGEA. Representative Barney Frank has plans of moving quickly to remedy the situation.

"The Bill introduction should happen within the next month. Mr. Frank will bring back legislation to repeal the UIGEA," said a spokesman for the House Financial Committee Chairman.

This will not be the first time that Frank has tried such legislation. His past attempts have been blocked by members of Congress that fear the US is losing billions from their economy to overseas online gambling sites.

That may be true, but Frank is realizing that this is no longer a matter of what the US government wants to do. The World Trade Organization may be asked to step in and if that happens it could further strain US relations with other countries.

President Obama has said that he wants to regain other countries' trust in the US and repealing the UIGEA would certainly go a long way in renewing that trust. Obama has also said in the past that he wants to keep the Internet free, so repealing the UIGEA would work two fold for his administration.


Related Posts.

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EU Gives Obama Time To Fix Gambling Laws.

President Obama has swiftly done what he said he was going to do upon taking office.

One of those issues is online gambling laws in the US, and how they are affecting the country's relationship with other nations.

The European Union is prepared to recommend action against the US to the World Trade Organization, but before they do, they will give Obama the chance to make things right.

Millions of dollars were lost for publicly traded Internet gambling companies after the law took affect. It will now be up to President Obama to try and be the peacemaker he has made himself out to be.

Prior to Obama taking office, the last administration worked on a different set of rules. They did not give much regard to what other countries thought of their policies.

Obama has pledged that his administration would be more pen to negotiation rather than dictator status in the World.

This is Obama's chance to show the world and the EU in particular that it is a new day in the US.

Members of Obama's team, including Barney Frank, are looking to overturn the UIGEA and regulate the online gambling industry in the US. Obama himself has made his intentions clear to keep Internet commerce free from government intervention.


Related Posts.

Barney Frank to reintroduce internet gambling legislation

Pennsylvania judge rules poker is a skill game

Kentucky domain seizures



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Barney Frank to Reintroduce Internet Gambling Legislation

This week it was revealed that Congressman Barney Frank (D-MA) will reintroduce legislation favorable to internet gambling in the next few weeks.

During the previous Congress, Frank introduced HR 2046, the Internet Gambling Regulation and Enforcement Act, which established a full licensing and regulatory framework for the industry in the United States.

The public opinion is demanding the right to gamble online, which served as the impetus behind Frank’s decision to reintroduce legislation.

The UIGEA regulations were officially enacted on January 19th, 2009, one day prior to the swearing in of President Barack Obama.

The financial services industry must come into full compliance by December 1st, 2009, about one year after the regulations were approved by the U.S. Treasury and White House Office of Management and Budget.


You can read more at Pokernewsdaily.


Related Posts.
Pennsylvania judge rules poker is a skill game
Kentucky domain seizures





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Pennsylvania Judge Rules Poker is a Game of Skill.

In a ruling handed down by Pennsylvania Judge Thomas A. James Jr. in Columbia County on Friday, it was ruled that Texas Hold’em is a game of skill and therefore not gambling under state law.

The ruling sets an “excellent bar” for future poker litigation, according to Poker Players Alliance (PPA) Executive Director John Pappas.

The basic question, according to Judge James’ ruling, is whether poker is dominated by chance or skill. He commented “Simply, if chance predominates, Texas Hold’em is gambling. If skill predominates, it is not gambling.”

In the case of Texas Hold’em, Judge James explained that extensive literature exists that describes winning strategies to play the game. He even cited Mike Caro’s “Secrets of Winning Poker” by saying, “the money flows from the bad players to the strong players.”

In his ruling, Judge James explains that the “dominant factor test” has traditionally applied to games of skill and cites multiple mathematical studies that prove it, including one linking “poker and economics.”

An included study even explained that players receive equal amounts of premier and lackluster starting hands. However, “Beginning poker players rely on big hands and lucky draws. Expert poker players use their skills to minimize their losses on their bad hands and maximize their profits on their big hands.”

The defendant in the case, Walter Watkins, ran a $1-$2 No Limit Hold’em game out of his garage. No rake was taken, according to the PPA. Instead, players were encouraged to tip the dealer at the end of every hand based on the pot’s size, just as they would in conventional casinos. Only Texas Hold’em was played.

Clearly, the judge had an understanding of how poker is played. Coming to this decision, to him, was not a far leap. The decision sets an excellent bar for us in the future.

The UIGEA, which was passed in 2006, defers to existing state and federal laws when defining what is “unlawful internet gambling.


This is excellent news for online poker. If this can set a precedent for other cases we are all a step closer to the goal to regulate online poker in the US.

You can read the rest of the post at: pokernewsdaily.com


Source: Poker news daily


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Kentucky Domain Seizures to go ahead

The big news today is of course the Kentucky Court hearing where Judge Thomas Wingate dismissed the objections brought by the 141 gambling domain names subject to seizure, which include Pokerstars and Full Tilt.

Judge Wingate ruled that an internet domain name is a 'device' used in gambling, which is therefore illegal under Kentucky law.

Any websites that advertise or provide gambling information alone were not enough to establish presence in Kentucky and would have the seizure order affecting them rescinded at a later date.

The attempts by the Poker Players Alliance (PPA) to get poker made exempt on the basis of the element of skill was quickly dismissed by Wingate.

"In the end, no matter how skilful or cunning the player, who wins and who loses is determined by the hands the players hold" he stated (Seemingly oblivious to the concept known as 'bluffing').

If the correct safeguards to block Kentucky ISPs are put in place by the online poker rooms and gambling domains within 30 days, then the seizure order against them will be withdrawn.

The final hearing is set for November 17th and it is not yet known whether an appeal will be made by the various parties affected.

source: pokernews.com
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