Frank’s bill doesn’t include sports betting

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All of you WagerWeb.com customers in the United States who were hoping that new legislation introduced by Massachusetts Democrat Barney Frank would make online sports betting legal in the U.S. are going to be disappointed.
It only relates to online poker and games of the sort.
Frank, chairman of the House Financial Services Committee, and Peter King, R-N.Y., unveiled the legislation Wednesday that would basically repeal the 2006 UIGEA that was rammed through Congress while hidden on a port security bill. The law currently prohibits U.S. credit card companies and banks from processing bets placed on online gambling Web sites.
The Frank bill would allow the Treasury to license and revoke licenses of Internet gambling Web sites. It also would also allow the Treasury to “assess” license holders for the costs of background checks and investigations of Web sites applying for the license.
“The government should not interfere with people’s liberty unless there is a good reason,” Frank said. “This is, I believe, the single biggest example of an intrusion into the principle that people should be free to do things on the Internet. It’s clearly the case that gambling is an activity that can be done offline but not online.”

But why not allow betting on the NFL, NCAA football, etc.? Well, the NFL, for one, is a powerful lobbying force in Washington. And any bill that included full sports gambling would have no chance to pass. Even this one has no better than maybe a 25 percent chance. No similar bill has been proposed in the Senate, and Senate Majority Leader Harry Reid, D-Nev., has said that he opposes Internet gambling.
Michael Waxman of the Safe and Secure Internet Gambling Initiative, a lobbying group, told Covers.com that political realities limited Frank to legislation that is at least a step in the right direction.
“We’re disappointed that this version of the legislation does not include online gambling,” says Waxman.
“We think that Americans should not be prohibited from placing a bet on the team of their choice. (But) Congressman Frank obviously felt that he needed to file a bill that had a chance of passage.”
Among the safeguards in the bill is that any Internet gambling operator would be required to ensure an individual placing a bet is of legal age and physically located in that jurisdiction.
If the Frank bill does pass, banks would no longer have to report credit card transactions between U.S. residents and web sites that offer poker and other casino games. Thus in reality, you could still bet on other sports on that site with the impetus falling on the site on whether to accept those bets.


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