Congressman John Campbell (R-CA) along with with Congressman Barney Frank (D-MA) introduced today The Internet Gambling Regulation, Consumer Protection, and Enforcement Act was introduced in the House today.
The bill would establish a federal regulatory and enforcement framework under which Internet gambling operators could obtain licenses authorizing them to accept bets and wagers from individuals in the United States.
The legislation comes in response to the enactment of Unlawful Internet Gambling Enforcement Act (UIGEA), which restricted the use of the payments system for Americans who gamble online.
“The bill is identical to H.R. 2267 that was passed out of the House Financial Services Committee on July 28, 2010 with bi-partisan support.”
“This legislation, which licenses and regulated online gambling, requires licensees to take appropriate safeguards to prevent fraud, money laundering, underage and compulsive gambling.”
“It contains strong protections to prevent minors from gambling online; prevents inappropriate online advertising targeted toward underage or compulsive gamblers; clarifies the effect of this act on Indian tribes; requires consultation with tribes in implementation; prohibits licensees from accepting bets or wagers from persons on the self excluded list of compulsive gamblers and persons delinquent with child support payments; prevents the use of a credit card to gamble online; clarifies an exception for intrastate and intratribal online lotteries; prohibits sports betting; requires that players set financial loss limits; strengthens regulatory requirements re: integrity and fairness; bans violators of federal and state gambling laws from obtaining a license; and requires a substantial U.S. presence as a condition of obtaining a license.”
I don’t need to tell anyone how much more valuable all gambling domains will become if online gambling becomes legal in the US.
Certainly anyone with any domains in this vertical should follow the bill closely.
Mike,
Thanks for posting this my friend.
We own about 300 nice casino/poker type domains and finally there is a light at the end of the tunnel.
It appears someone new something about this bill because very recently I have received quite a few offers via sedo on my casino/poker domains.
Hoping for the best.
Bring it on…
Can’t happen soon enough … 🙂
And maybe?
The application fee to be licensed is $100000 (non-refundable)
and the IF approved a Bond of $3 million shall be held in escrow
for payment and compliance guarantees.
So, Porn restricted over here >>>>
Gambling restricted over here >>>>>
Blogs restricted over here >>>>>
other Business restricted here >>>>>
all other websites restricted here >>>
Government Approved LOGO here >>>>
Sooner than later , it will be marijuana
Washington will be the 1st state to really legalize marijuana-more money to the coffer.
Time for my smoke, BullS aka MarijuanaGuy.com
I cant see that that i am government bought and sold
soon i will have my branded internet number to prove it,
wait! i already have one.
“Online gaming will be the biggest industry in the world” The quality & competition between operators will be outstanding & global legislators will be in fierce competition to ensure the integrity & player protection against fraud, cheating & addiction (Recommends a min age of 21)
Do you really think THEY are going to let you have a piece of the action
dream on.
“The clear message from Licklider and others in the 1950s and 1960s was that the centralized knowledge system created by the powers behind AT&T’s telephone monopoly, the studio system in Hollywood, the major radio networks (NBC and CBS), and by radio extending its influence over early television (with broadcast television later trying to stifle cable television) all created an illusion of unity in the United States while stifling innovation. The authoritarian mode of thinking — whether driven by a U.S government that was, in retrospect, surprisingly oppressive; corporate monopolies that sought to perpetuate themselves; or by social scolds who enjoyed the perch atop a centralized cultural replication machine — needed to change.”
all created an illusion of unity in the United States while stifling innovation.