U.S. House Considers Legalizing Online Gambling

The U.S. House of Representatives will hold a hearing Friday on a bill that would repeal the current ban on internet gambling, according to Reuters.

Just over one month ago, Barney Frank, a Democrat from Massachusetts, proposed the bill, which seeks to license and regulate online gambling as a way of protecting consumers and gaining tax revenues. The U.S. House of Representatives have now set a date to hold special hearings to discuss the possible dangers and benefits of having legal net gambling within the United States.

Barney Frank, the Chairman of the House Financial Services Committee, had said that the move to ban online gambling in the United States was the stupidest law he ever heard of. The law that Frank was referring to was an act that was hidden inside the Safe Port Act of 2006, which was a homeland security bill granting a larger budget for the improvement of security at America's ports and harbors.

In response to what Frank and others felt was an unjust method of removing personal freedom, while at the same time opening the door for black market activity, Frank introduced legislation to legalize online gambling. Frank's bill was titled the Internet Gambling Regulation and Enforcement Act, and would provide legal framework for online casinos to be licensed and regulated in a way that offers consumer protection, protects against underage gambling and tackles the issue of problem gambling. Frank's Bill would also generate tax revenue for State and Federal Governments.

Following Frank's decision to introduce the Internet Gambling Regulation and Enforcement Act, it became important for the U.S. House of Representatives to further explore the potential hazards and benefits of licensing online gambling within the United States. A spokesman for the U.S. House of Representatives has now announced that hearings will be held on Friday to discuss the topic on legal online gambling. Online Gambling is effectively banned in the United States, even though millions of Americans still gamble online each week.