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Gambling: Internet Gambling Regulation
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In the other story Congressman Jim McDermott, a Democratic representative from the State of Washington, introduced a new piece of legislation entitled the Internet Gambling Regulation and Tax Enforcement Act of 2008. This bill calls for a two percent licensing fee to be paid by online gaming operators.
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WASHINGTON, Feb. 28 /PRNewswire-USNewswire/ -- Congressman George Miller (D-CA), chairman of the House Democratic Policy Committee and the House Education and Labor Committee, has signed on as a co-sponsor of the Internet Gambling Regulation and Enforcement Act. The legislation, introduced last year by Congressman Barney Frank (D-MA), would allow licensed operators to provide Internet gambling services in the United States.
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At this point, no new restrictions have been placed on internet gambling, but they may be on the horizon. Until then, the internet gambling industry will continue to grow, as it has for the past decade. For immediate updates on internet gambling regulation bills, click here
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McDermott's legislation functions as a companion bill to the Internet Gambling Regulation and Enforcement Act (H.R. 2046), legislation introduced by Representative Barney Frank (D-MA) that would regulate Internet gambling in the U.S. Under the Frank legislation, each Internet gambling operator would be licensed by the Financial Crimes Enforcement Network (FinCEN) and be required to ensure that the individual placing the bet or wager is physically located in a jurisdiction that permits a particular form of Internet gambling. The legislation would ... reinforce the rights of States to control what, if any, level of Internet gambling is permissible within their borders, including the ability to apply additional taxes, and to ensure that appropriate consumer protections and limitations were in place.
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Internet Gambling Regulation