Legalized Online Poker One Step Closer
Wednesday September 17, 2008
By a vote of 30-19 the House Financial Services Committee approved bill HR 6870 entitled the Payment Protection Act will suspend all regulations of the Unlawful Internet Gambling Enforcement Act from being implemented except those dealing with professional sports leagues until the act is defined. The bill requires the United States Treasury and Federal Reserve to work together with the Attorney General's office to determine what is and is not legal under the Unlawful Internet Gaming Act (UIGA.) The measure may now move on to vote on the floor of the House of Representatives.
Essentially, the UIGA required financial institutions to act as police for a law that was unclear. There was definition as to what games constituted illegal gambling and with this bill, at least the banks will know what is and isn't illegal.
The Poker Players Alliance and other groups who support the legalization of online poker have been arguing that poker is a game of skill and should be exempt from the UIGA. This bill will force a clear cut definition and will help bring poker legalized online poker one step closer to reality.