Video and Audio Clips on Internet
Online Gambling Legislation
The recently signed Port Security Bill (H R 4954) sported a rider affecting online gambling. This "Unlawful Internet Gambling Enforcement Act of 2006" has caused massive drops in gambling stocks. For instance, reports about congressional action sent online gambling companies into a tailspin when stock markets opened again on Oct. 2. Especially PartyGaming, the largest of the Internet firms, saw it's shares decrease by 58 percent on the London of its market capitalization in the process. Internet company, 888 Holdings, saw its shares fall 26 percent on the same day.
The Act commands the U.S. Treasury Department to issue regulations that would prohibit approving a transaction between a U.S.-based customer account and an Internet gambling merchant. Financial institutions would be required to follow those regulations, and would be subject to fines or penalties if they fail to comply.
Also included in the bill is language that indicates that Internet service providers could be required to block access and remove links to Internet gambling Web sites.
There has been much discussion of the possible effect and meaning of this law. You will find a collection of pertinent articles at Games and Casino's Gambling News.
This page presents Video and Audio clips on the subject and will be updated regularly.
APCW Gambling Videos
- Senator Frist and the Online Gambling Ban (Mr. Bill)
- Online Gambling and Bob Goodlatte: Victims of CDD