Global investment bank thinks online gambling will soon be legal
Barney Frank is the man behind the two legislation changes regarding the online gambling industry in the US, which due to the UIEGA (Unlawful Internet Gambling Enforcement Act ) is non existent. The first of the legislations is to postpone UIEGA rules that are coming into effect at the end of the year.
The number of people that believe the inevitable about online gambling is soon going to be legal in the United States is growing at a very rapid rate. Even Goldman Sachs has said in their latest note to their investors, that they predict the US is soon to legalize and regulate the online gambling industry.
But the more fascinating Bill is for the online casinos, the Bill will see that online casinos will be legal to operate and take wagers from people that live in the US. But at the same time the Bill will also be regulating the online gambling companies. In the past Frank has tried to topple the UIEGA Bill but failed, but now he seems to have much more support.
Even though all this talk and support is going on, it seem like online poker will be legalized in several states before the government will come to a decision about changing their laws. As Barney Frank is the head of the House Finance Committee and they will be focusing all their energy on there economy, as result of this the debate that was meant the debate for online gambling has been delayed till around September.
Despite the set back Frank still is adamant that the legislation will be passed and soon too. Online gamblers should try and be patient, but online poker players did get quite a scare a few weeks ago when the US government seized bank accounts form the online poker rooms that paid money out to US players.