Online Gambling Poker Players Benefit from anti-UIGEA Bill

Online Gambling Poker Players to Benefit from anti-UIGEA Bill

Online gambling has gotten a huge boost from the Payments Systems Protection Act of 2008, a bill that was introduced into the House Financial Services Committee and ended up passing it by a vote of 30-9. All of the news that is fit to be told regarding online gambling seems to revolve around this bill in recent times and because of that many groups of online gambling personnel such as online poker players have been able to get a big boost to their numbers because of the bill.

The PSPA that was passed with the endorsement of the committee’s chairman Barney Frank (D-Massachusetts) is one that was passed after the original PSPA was struck down by the committee. The original bill is one that would have completely shredded the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) and destroyed any anti-gambling legislation that was originally passed by the house Republicans when they controlled the committee. That bill was struck down however and since even some from his own party voted against the bill, Frank decided to go back to the drawing board and come up with something new.

The new PSPA, while not having the same set of teeth that its predecessor was given, will nevertheless make things a lot easier for people in the United States that would like to get involved in online gambling. Specifically, online poker players in the United States will get a huge boost from this bill. Many of them are already praising Frank for pushing this bill through the committee and of course many of them were involved in the lobbying effort that ousted the man mostly responsible for the UIGEA from office during the midterm elections of 2006.

Online gambling and in particular online poker suffered a very heavy hit when the original UIGEA passed in 2006. With nobody around to help them in the financial industry, online poker sites were very seriously hurt with the exit of many American online poker players from the market. Publicly traded websites such as Party Poker were forced to leave the US market entirely in order to protect profits for their shareholders whereas online companies like Full Tilt Poker that decided to remain in the US market were forced to limit their American players from making deposits through most of the easy methods. In short, the online poker life for an American resident has been hell ever since the passing of the UIGEA and that is precisely why many Americans are hailing this legislation as a breath of fresh air.

In the eyes of Barney Frank, it is something that was a long time coming. “In a free society, how people spend their leisure time should not be made illegal or encouraged. If you’re going to impose restrictions using the UIGEA, you’re hijacking the banking system.”

Even if the PSPA passes, Frank would still at some point like to repeal the UIGEA. Online gambling activists and online poker players are certainly with him on that point and for that reason the lobbying effort to back that particular piece of legislation could be huge.

June 25, 2011 by : posted in Gambling and Legality No Comments