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If you’re one of the estimated 23 million people who play poker over the Internet, your lucky day may not be far off! The Payments System Protection Act, which was given the thumbs up by the House Committee on Financial Services this week, looks like the most gambling-friendly law to come down the legislative pike in years.
The brainchild of Committee chairman Barney Frank (D-Mass) would lessen the blow of the Unlawful Internet Gambling Enforcement Act of 2006 by exempting financial services companies from having to comply with its mandates. As it currently stands, the UIGEA calls for banks and online payment systems to block Internet-based wagers on sports of all kinds, except for horse/dog racing and jai-alai. Left unchecked, such a law has the potential to dramatically and permanently limit the freedom of responsible people to enjoy themselves via gambling.
Refreshingly, Frank has injected a much-needed dose of personal responsibility into the torrent of nanny-state politics we all know. “Adults are entitled to do with their money what they want to”, the Representative offered when questioned about his support for Internet gambling rights.
If all goes well, Frank’s Payments System Protection Act will be approved by the full House of Representatives next week. This would have the highly desirable effect of delaying any real, meaningful implementation of the UIGEA and potentially re-opening the debate on the entire premise of the law itself.
Gambling industry support for the law is widespread, as evidenced by Jay Lakin’s (of Poker Source Online) recent comments. “It shows [Frank's] true passion for this issue and steadfast belief that the federal government should not be determining what consenting adults do in their leisure time.”
The Financial Services Roundtable, Chamber of Commerce, and Credit Union National Association have all pledged their support for the law, as well. Clearly, this is consistent with the view we hold here at Pitboss. In a political climate of constant compromise and sacrifice of our freedoms, it’s nice to see at least one government official with a sense of American’s heritage and freedoms!