Financial Services Hearing on Regulating Internet Gambling

Safe and Secure Internet Gambling Initiative Supports Legislation to Remove Unnecessary Government Prohibition on Internet Gambling

The Safe and Secure Internet Gambling Initiative announced its support for the Internet Gambling Regulation and Tax Enforcement Act, introduced today by Congressman Jim McDermott (D-WA). The bill would create a taxation regime for online gambling companies to be licensed under the recently introduced Internet Gambling Regulation and Enforcement Act (H.R. 2046).

As Congress works to find funding for critical government programs, Congressman McDermott's legislation is expected to generate between $6 billion and $25 billion in revenues for the U.S. Treasury in the first five years of enactment.

Congressman McDermott's legislation functions as a companion bill to the Internet Gambling Regulation and Enforcement Act, which would establish a licensing and enforcement framework for regulated Internet gambling in the U.S.

For more information please visit www.safeandsecureig.org.

Category:

News & Politics

Tags:

• House
• Financial
• Services
• Committee
• internet
• gambling
• barney
• frank
• robert
• wexler
• ron
• paul
• securetrading
• online
• betting

[bvagasky]

Frank and Paul are two of my favorite congressmen.

Ron Paul for President!

[SlickExecutiveType]

If you do not fight this now, you will not be able to fight it later when they come for your news. GOVERNMENT - THE INTERNET IS OURS. STAY OUT.

[wtong89]

Even till this day i wonder, since when did a bunch of lawyers become experts in Financial Services. Maybe congress's stimulus packages never work because they arent financial experts. All of them are experts in law, i say congress members needs to take some courses of Economics before they start making laws on Economics.

[Everett345]

@fahq12346

you're a democrat arencha? LOL 

[fahq12346]

as a HUGE internet player (poker), the one thing I dont like is that the FullTilt, PokerStars are NOT regulated by ANY government. How much curruption is really out there? I would play much more and play for a much higher amount if it was **REGULATED BY THE US GAMING COMMISION***

[fahq12346]

@yahoovisitor huh?

[aweinsto]

Need your feedback about this:

youtube.com/watch?v=PlkUEYs0ho­w

Put your comments in Snipeslider in Facebook - Thanks!

[heartlessvietboy]

Suggestions Anybody?

1. Tax Heavily Online Gambling Businesses.

2. Internet Games are based on odds of the game in real life. (Four card poker is odds of four card poker, not 2 card poker.) This is in regards to software used by gambling businesses.

3. Regulate amount that can be played.

4. Any fraudulent activity from the businesses or the players is against the law and will be punished by fine or imprisonment.

[lceswift]

Pinnacle was -and is- a stellar example of conduct, I know what you mean.

[loncummings9242]

Very cool video.I will vote for it!

[yahoovisitor]

In the western countries its a big source of tax earning and the gamblers are now turning their move towards the east where due to lack of education and literacy its easy to fool a poor man and get funds released on the name of awards.USA and its allies who for want of funds for destruction of peace on globe encourage the internet gamblers to commit this blunder. As USA is already destroyed as regards its economy and it can be an indirect source of earning money for this purpose.