Could someone please summarize today's hearing

[Hock_]

for those of us not able to watch?

[Grasshopp3r]

Also, what is the next step? Will HR2046 advance to a committee vote? Has that been scheduled?

[Fonzi]

The opposition was Rep Bachus, he seemed unprepared and uninformed. He presented a letter from Jack Abramoff to somehow discredit the movement, but Barney Frank chastised him for it publicly, but he had already left. Wexler and Paul were there at the beginning both spoke well. I would say our side won the debate quite soundly. The only opposition who even spoke up was a Baptist whose son went to jail for robbing a bank after failing to bonus whore properly and didnt want to owe his frat buddies money. They really made this bacchus guy look like a joke. They had about 4 specialist in on-line verification/credit cards who were confident, well spoken, two were British and had verifed success of their sytems in a legitimate regulated environment.

Bottom Line
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The Fonz says "I'm predicting credit card deposits & HarrahsPoker.com by Thanksgiving" All these hearings are just a formality now, it was a BS legislation to begin with and they know they were caught with their hand in the cookie jar. The banking industry doesnt want this, they're probably the ones behind the injunction hearing for UIGEA enforcement. I'm probably not the first to predict a happy outcome to this, but I will be the first to remind you when it turns out I was right!

The Fonz /images/graemlins/cool.gif

[daedalus]

This does resemble a well orchestrated show of force for online gambling (3 bills introduced, WTO, lawsuits, etc.). Events like this in washington don't coincide by accident. There has to be banking $$ and possibly u.s. casino money flowing fast behind the scenes.

[1p0kerboy]

All I got to say is the Oracle appeared and she is on our side.

[redbeard]

what are the next likely steps in the process. the wexler bill introduced yesterday (6/7) as i understand it basically would establish poker as a game of "skill" and thus exempt it from the UIGEA. the hearings today (6/8) as orchistrated by barney franks kind of lead me to believe it is the first step in the american casinos/corporations establishing a u.s. licenced online market that would allow the mgm/mirage and harrahs of the world to enter a fresh untapped market. which direction do most of my fellow 2p2ers think the legislation will go -- the wexler bill or a new franks bill establishing the latter of my scenerios?

[1p0kerboy]

[ QUOTE ]
by barney franks kind of lead me to believe it is the first step in the american casinos/corporations establishing a u.s. licenced online market that would allow the mgm/mirage and harrahs of the world to enter a fresh untapped market.

[/ QUOTE ]

I think Wexler's bill would also do this.

It says something along the lines of skill game operators having to be regulated in the United States.

[CaptVimes]

[ QUOTE ]
All I got to say is the Oracle appeared and she is on our side.

[/ QUOTE ]

Makes me proud to be from Indiana

[Mr.K]

[ QUOTE ]
The Fonz says "I'm predicting credit card deposits & HarrahsPoker.com by Thanksgiving"

[/ QUOTE ]

Assuming you mean Thanksgiving 2007 and those things being legal in the United States by that time, I'll bet you $5,000 on that, and I'll give you 5:1 odds. I'd bet more, but I don't have the scratch.

[Fonzi]

I'll take $10 of that action, not cause I'm unconfident, just don't have a huge bank roll to wager on things I know very little about. But 10:50 I can't afford to pass up.

Payable on your honor.

The Fonzzz /images/graemlins/cool.gif

[Ace0fSpades]

Whoa, the sky isn't falling? He was wrong?

[Mr.K]

[ QUOTE ]
I'll take $10 of that action, not cause I'm unconfident, just don't have a huge bank roll to wager on things I know very little about. But 10:50 I can't afford to pass up.

Payable on your honor.

The Fonzzz /images/graemlins/cool.gif

[/ QUOTE ]

You're on, but since we're talking about a significantly smaller amount relative to transactional costs, I'm only going to offer 4:1. PM me if we still have a deal.

[TreyWilly]

[ QUOTE ]
The Fonz says "I'm predicting credit card deposits & HarrahsPoker.com by Thanksgiving"

[/ QUOTE ]

Man, I'd LOVE for you to be right here (and I'll even pay you $50 without a wager if you are), but jumping on this wagon would be the equivalent of believing everything Gaboon had to say this winter.

Fight on, though.

[Dondoh]

Did it concern anyone else that Bachus' repeated claims that all internet gambling (except the ponies and lottos) is in fact illegal went totally unchallenged? It sounded to me like he asserted again and again and again that last years legislation confirmed the illegality of playing online. And no one said that last years law specifically regulates methods of financial transactions rather than online play generally.