If you’ve read this blog before you’ll have seen my rants and fury about the US Online Gambling legislation.
Well, it seems as if either a “light” has gone on; or the US gaming industry has moved faster to catch up with international competition than was anticipated; or the banks simply hate the legislation because of the litigation it exposes them to.
Adotas reports that
U.S. Rep. Barney Frank, the Massachusetts Democrat, who chairs the House of Representatives Financial Services Committee, is now considering repealing the bill. On Wednesday, Steven Adamske, a spokesman for the lawmaker, said, “Chairman Frank is considering legislation.”
He has not drafted a bill nor have there been any formal actions towards the repeal.
Yet last year, Frank stated, “Prohibition didn’t work for alcohol. It won’t work for gambling,”
The legislation updated former ambiguous gaming laws to state that most gambling online is illegal, except for state run lotteries and horse-racing.
Disclaimer – I have no investment in gaming companies; I do have an interest in fairness.