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The bill actually picked up 2 more sponsors today. They are up to 26, 27 including Frank. Hopefully, after our reps visit Washington we will increase that number dramatically.
Thanks for the update. That seems like our best bet to bring the issues back into the light of day and see some positive change. Fingers crossed…
My fingers are well and truly crossed. My eyes are on this like a hawk, I have just spent most of the morning reading all the bills at house.gov – I am supposed to be moving today, and Alyssa from BWP will kill me for not having all our stuff 100% ready.
Anyway, if you can post updates on this I am going to be checking in/out throughout the day. I wish this site had RSS so I could watch certain topics on my blackberry on the move. I might suggest that to Prof & co.
I hope Frank gets more backers
@Dominique 129501 wrote:
Re. Barney:
Barney Frank’s proposed bill, the HR-1046, to legalize, license, regulate and tax online gambling has gained another sponsor, Representative Don Young out of Alaska, to join 23 others at Frank’s side.
I think you meant 2046. Is that the right one?
1046 is Medicaid related (or something like that). Not trying to be contrary, just spent a little while trying to find it under 1046, so thought a link would help others.
best case: business as usual – if you can call it that.
worst case: shit hits the fan.Unfortunately, even if the UIEGA was repealed, the DOJ’s stance towards the legality of online gambling will remain the same. A gaming operator changing flights in New York will still be arrested and payment processors will have their funds seized. Only regulation, that includes language to amend the wire act, would get the DOJ off everybody’s ass. Until that day, players are going to remain fearful of having their funds confiscated, and I don’t blame them.
The wire act applies specifically to sports betting. And – The FCC ruled also that the internet is NOT the same as the phone.
That’s how come we have phone services over the internet that are free.
None of this has ever come to trial yet.
My guess would be that the DOJ can win a case against sportsbetting, but that’s it.
Today is supposedly the day….
I am expecting a request for an extension before submitting the new regulations and guidelines…
Important Note: UIGEA required that new guidelines and regulations be created and issued with 270. NOT that they be implemented by financial institutions. I guarantee you that after guidelines are issued there will be a similar grace period to allow the banks to adopt the new policies and come into compliance. So even IF guidelines do come out today it will be quite some time before they can be put into play.
Thanks for the update Prof, please keep us in the loop about what goes on. How can we keep tabs on it ourselves? Are there any outlets for this type of information we can read?
Maybe its coincidence, but my players have not deposited after the 10th. Granted, I have no clue if they are U.S. or not and my site does not have a serious number of players. However, it does seem odd.
For what it is worth, I recently moved to a midwestern state in June. I noticed on their “business banking accounts” the following questions were listed: do you receive wire transfers? from what countries? It also stated that these questions were being asked due to the Patriot Act.
Although, I think this whole thing is just a waste of time. Punters will Punt.
@Ziggy 130952 wrote:
For what it is worth, I recently moved to a midwestern state in June. I noticed on their “business banking accounts” the following questions were listed: do you receive wire transfers? from what countries? It also stated that these questions were being asked due to the Patriot Act.
Is it bad for us to continue to receive commissions through wire transfers? Some of my affiliates still send that way.
We spent all afternoon trying to get information on the UIGEA and when regulations would be put in place and we received help from no one. It is amazing how the US government can pass a law and know nothing about it.
On the other end, we spoke to a great many different people who provided us with information on the future of Frank’s Bill. Interns gave us some quality information on the future of his bill and it appears that they (the Financial Service Committe) are abolutely flooded with calls in support of a repeal or some sort of regulation.
One of the interns we talked to said all the effort of these people calling was great, however, the calls and letters would serve a much greater purpose if they were directly to your own representative.
@boczor 131002 wrote:
Is it bad for us to continue to receive commissions through wire transfers? Some of my affiliates still send that way.
To my knowledge, no.
