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UIGEA Update: Poker Carve-Out A Possibility?

We're a week late getting to this but definitely worth writing noting that some traction is being made for an online poker carve-out from the UIGEA.

The House Financial Services Committee approved a change to Rep. Barney Frank's (D-Mass) bill by a 30-19 vote that would clarify for banks what types of payments they can accept from processors. While sports wagering would still be illegal, online poker may get that carve-out the PPA has been fighting for over the past two years since we got Frist'd.

Said Rep. Frank:

"I would like to not tell adults that they can't put a bet down...But under this bill ... at least the banks will know what is and what isn't illegal. We're asking Treasury to give them a list."

More surprisingly is some hard-core one-time detractors seem to be coming around. One of those is Rep. Spencer Bachus (R-AL), who said:

"A lot of people out there that play poker on the Internet - they may lose their money but they're adults - and they went to their members of Congress."

Read the full article here and get a good editorial take here.

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Comments

Christian Louboutin

A certain amount of care or pain or trouble is necessary for every man at all times .A ship without a ballast is unstable and will not go straight

Joe Schmo

All types of casinos and other wagering outlets are heavily-regulated and watched. While I hate government involved with anything, with the Ultimate Bet and Absolute Poker BS I don't trust internet poker so I choose not to play it. That's my choice. With that being said, I think that internet gambling should be legal but regulated and heavily-watched.

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