• Barney Frank Heads up Internet Gambling Regulation

    12 January 2010

    Newspaper

    HOT news right off the press!! KUDDOS to Barney Frank!! Let’s all of us stand behind him and show our support in this matter. It will make the world of difference in our freedom to play online!

    Online PR News – 11-January-2010 – On December 3, the House Financial Services Committee discussed the passage of Internet Gambling Regulation, Consumer Protection and Enforcement Act (HR 2267), a legislation geared towards overriding the Unlawful Internet Gambling Act (UIGEA) spearheaded by Chairman Barney Frank (D-MA).

    Top experts in the fields of online security and consumer safety described how current systems and technologies have proven effective and successful in preventing compulsive gambling, minors from gambling online, and protecting consumers against fraud, identity theft, and money laundering.

    The Joint Committee on Taxation, on the other hand, projects up to $42 billion worth of 10-year revenue from the Internet Gambling Regulation and Tax Enforcement Act introduced by Rep. Jim McDermott (D-WA). This bill can reach that amount provided that collection of license fees and applicable individual and corporate taxes from operators are ensured.

    Federal Reserve and Department of the Treasury granted the 6-month extension to the compliance date of UIGEA pushing it to June 1, 2010. The delay, Rep. Frank stated, “…will give us a chance to act in an unhurried manner on my legislation to undo this regulatory excess by the Bush Administration and to undo this ill-advised law.” He seeks for the enactment of his bill prior June 1, 2010.

    Michael Waxman, spokesperson of the Safe and Secure Internet Gambling Initiative said that it’s simply common sense “to replace [UIGEA] with a framework that regulates a thriving underground marketplace to protect consumers and collect billions in otherwise lost revenue.” This framework aims to permit licensed gambling operators to accept wagers from individuals in the US. The legislation also upholds the rights of each state to determine whether or not to allow Internet gambling within the state and apply deemed necessary restrictions.

    Related News

    • 14 October 2020

      German Punter Hits Stunning € 255.000 At Frank Casino

      A lucky German punter, who deposited €150 into his account at Frank Casino, raised €255.000 after playing one of his favorite slot machines, Jammin Jars created by Push Gaming. The winner signed up at Frank Casino in August on the recommendation of the casino streamer. He told the casino team that this is not his first big win as he has won large sums with other casino providers in the past. With money from previous successes, he bought an apartment.

      Read full article
    • 06 August 2018

      New Frank & Fred Casino Sees Official Launch

      Back in May, we covered the upcoming casino release for Frank & Fred, and it's finally here. Players are able to finally sign up and check out a great set of promotions and deals. This is the sister site to brands like SlotV Casino and others, and it's going to be interesting to see how players adapt to their loyalty program and other perks that are available. Software Platform

      Read full article
    • 26 May 2018

      New Frank & Fred Casino Launch Coming Soon

      Every time a new online casino is about to be launched, players always want to know what the site is all about and what they have to offer. In the case of Frank & Fred Casino, they have a lot more to offer players than a somewhat odd name. Everything for this casino is looking like players will have plenty to look forward to. Software and Games On the software front, there are a ton of games coming from dozens of providers.

      Read full article