TELECOM Digest OnLine - Sorted: House Panel Sets Hearing on Internet Gambling

House Panel Sets Hearing on Internet Gambling

Reuters News Wire (
Mon, 04 Jun 2007 20:54:31 -0500

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

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.

The Internet gambling payments ban was signed into law last October by
President George W. Bush. It has been closely monitored by investors
in some British-based gaming companies, such as PartyGaming Plc.

Copyright 2007 Reuters Limited.

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