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Can US Congressman Change Online Gambling Laws?

April 12, 2007

It has been reported that US Congressman, Barney Frank, does not agree with the United States decision to move towards banning online gambling and states that he plans to file legislation against it.  

Frank, who has been in Congress since 1981, currently serves as Chairman of the Financial Services Committee.  The 68 year old Democrat believes that the passing of the bill last October was one of the stupidest things he’s ever seen and says that he would like to get it undone.  

The bill that Frank is opposed to is known as The Unlawful Internet Gambling Act (UIGEA). This law basically prohibits online gambling to all United States citizens by forcing financial institutions (including online payment solutions such as NETeller) to no longer allow any transactions from US citizens to and/or from any online gambling sites.  

Frank has plans to begin laying out his strategies within the next few weeks however he will not move forward with them until he has other lawmakers on board.  If Frank is successful with his plot, there will be many appreciative companies who are players in  the multi billion dollar online gambling industry, as it is speculated that the US  makes up about 80% of the entire market.