26-04-2007 Frank introduces the Internet Gambling Regulation and Enforcement Act of 2007

Rep. Barney Frank has finally announced the details of his internet gambling bill that seeks to create a federal regulatory framework to license internet gambling in the United States, allowing Americans to lawfully gamble online whilst at the same time providing appropriate protections against underage gambling, compulsive gambling, money laundering and fraud.

Internet gambling in the United States was effectively banned last October when Senator Bill Frist successfully attached language preventing US financial institutions from processing online gamblinmg payments to an anti-terrorism bill.

"The existing legislation is an inappropriate interference on the personal freedom of Americans and this interference should be undone," said. Rep. Frank.

"By continuing to prohibit internet gambling in the US, the US has left Americans who choose to gamble online without meaningful consumer protections. The proposed legislation would institute practical and enforceable standards to bring transparency to internet gambling and provide consumers the protections they expect and deserve," he added.

"Congressman Frank's bill is a common sense approach to Internet gambling," said Senator Alfonse D'Amato, Chairman of the Poker Players Alliance. "Licensing and regulation will allow us to sort out the most responsible sites -- those who are good corporate citizens -- from those engaged in unscrupulous activities and practices. This legislation creates common sense public policy that establishes real safeguards, protecting minors and problem gamblers while allowing the majority of adults to enjoy poker and other games online."

Kobus Paulsen, CEO of UC Group, a provider of global payment solutions, commented: "It is clear that prohibition in the U.S. isn't working for anyone. Instead of leaving internet gambling unregulated, uncontrolled and underground, this legislation will create meaningful protection and safeguards for consumers throughout the USA."

Click here to read a summary of the Internet Gambling Regulation and Enforcement Act of 2007.