Hearing on net gambling

Online gamblers can breathe easy: Congress is now on the case. This Friday, a panel will discuss whether or not it is possible to regulate online gaming. From ABC:

A U.S. House of Representatives panel said on Monday it will hold a hearing on Friday to look at Internet gambling, which is effectively banned in the United States.

The hearing will examine whether Internet gambling can be regulated to protect consumers and the payments system, said the House Financial Services Committee.

Committee Chairman Barney Frank introduced a bill in April that would repeal an effective ban on online gambling imposed last year by Congress.

The Massachusetts Democrat said the ban was “imprudently adopted” and the pastime is “a matter of individual freedom.”

Frank’s bill would make it legal again for banks and credit card companies to make payments to online gambling sites.

The bill includes provisions for licensing and regulating online gambling companies to protect against underage gambling, compulsive gambling, money-laundering and fraud.

ABC News: House panel sets hearing on Internet gambling

As I’ve said many, many times previously, studying Internet gaming is a great idea. With states already using gambling for revenue and development purposes, it makes sense to take a serious look at the pros and cons of an Internet gaming regulatory regime.

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