Online Poker Gets a Boost

September 20, 2008

The House Financial Services Committee has given poker players something to smile about. They have been showing favorable signs towards the legalization and regulation of online poker and gambling, which is a really nice step for the industry.

Barney Frank’s Payments Systems Protection Act was approved by the committee by a 30-9 vote. This means that the Act will move towards discussion in the House of Representatives. Barney Frank had tried to pass a similar bill but was unsuccessful on his first pass.

Frank has been trying to discontinue the regulations of the Unlawful Internet Gambling Enforcement Act HR 5767. His first attempt was introduced with Congressman Ron Paul but was struck down this past June.

He says that the legality of online poker playing and gambling is not what it really seems to be. Many think that online poker playing and gambling is illegal now with the passing of UIGEA. However, all the UIGEA did was make the payment processing part of it illegal, and even then some say that it is open to interpretation.

Under this new bill there won’t be any more ambiguity for poker players and they can get back to playing online. With poker being a game of strategy, they feel that it isn’t really gambling anyway.