ONLINE GAMING ONE STEP CLOSER TO LEGALIZATION IN THE US - Posted by KatA 

Legislation was introduced this week that could help to regulate and legalize online gambling in the United States. The bill, submitted by Barney Frank (D-Mass.) and Peter King (R-N.Y) calls for the Treasury Department to regulate online gaming. It suggests they do so with a highly supervised licensing process that would allow gaming operators to do so legally under US law. To earn an online gaming license, operators would be required to pass a background check and prove that they had systems in place to “protect underage and problem gamblers, ensure games are being operated fairly and comply with and address the concerns of law enforcement.” They would also be required to pay taxes, safeguard their players’ privacy and comply with any other requirements put forth by the Treasury Department. Frank and King were sure to include provisions giving individual states and Native American tribes the right to further restrict the industry, or to ban it altogether. They also made it clear that this bill would not extend to online Sportsbetting. Buffalo state business law professor Joe Kelly reports that this bill is “very impressive and thorough”. He feels that it establishes “suitability, solvency and social responsibility” in operator regulations. He also feels confident this is what Congress is looking for in a gaming bill. Leaders in the online gaming are quickly getting behind the bill and plan to build a grassroots movement in its support.