Anti-egaming bill hits early hurdles

[AAAA]

EGAMING Review Magazine...you may need a password to view it!


Online gaming shares received a hefty shot in the arm in early trading today amid talk that the latest attempt to strengthen prohibition of online gaming in the US had hit significant opposition.
At one point on Thursday, PartyGaming’s share price was up over 9% to 141.5p, while Sportingbet was up 28p or 7% to 408.5p and BetonSports gained 5.75p or 3.85% to 155p. Online payments company Neteller, meanwhile, saw its share price benefit as well, rising 8.7% or 64.5p to 805.5p at one point.

Representative Robert Goodlatte’s Internet Gambling Prohibition Act (HR 4777) was reported to have met with a lack of support when it came before a House Judiciary crime sub-committee yesterday, April 5.

Representative Bobby Scott slammed Goodlatte’s bill as attempting to create “an enforcement nightmare for financial institutions”. His comments were backed by First State Bank vice-president Sam Vallandingham who said the added burden of having to monitor transactions for online gambling would be too much for the banking industry.

Analysts noted the sub-committee session had also highlighted the confusion amongst the bill’s proponents over possible carve-outs for activities such as online wagering on US horseracing.

Greg Feehely, head of research at Altium Capital, noted that no vote was taken and that no second hearing had been scheduled, meaning there would be up to a two week delay.

“Overall, industry watchers noted that opponents of the bill were said to have been quite pleased with yesterday’s hearing,” he added. “The fact there is confusion on carve-outs and delays is fantastic news.”

[Overdrive]

Thank god, we could use some good news on this Republican led nonsense for a change. I also have alot of respect for Fossilman, Lederer, Ferguson, and the others who at least actually got off their azz and actually made a trip to capitol hill to at least try and stop this nonsense.

[AAAA]

I have almost given up and consider myself a "conservative" instead of a "republican," because of the travesties perpetrated by the "Republicans"

but i hear you...just thank goodness that the people who are responsible for writing legislation have no clue how to do a competent job of accomplishing their desires. Sad, but true when incompetence is our salvation! Just think what would happen if people were competent lawyers or judges had a go at raping the Constitution!

Perhaps competent people wouldn't dream of legislating against online poker and individual freedoms in general!

[memphis57]

[ QUOTE ]
I have almost given up and consider myself a "conservative" instead of a "republican," because of the travesties perpetrated by the "Republicans"

but i hear you...just thank goodness that the people who are responsible for writing legislation have no clue how to do a competent job of accomplishing their desires. Sad, but true when incompetence is our salvation! Just think what would happen if people were competent lawyers or judges had a go at raping the Constitution!

Perhaps competent people wouldn't dream of legislating against online poker and individual freedoms in general!

[/ QUOTE ]


I agree with you and add here a couple thoughts, not new or invented by me by any means, but worth repeating.

1. Like many who think they are "conservative", you are probably more of a Libertarian than "conservative". As such the left-right continuum is actually a circle for you and your position wraps around the back of the circle, encompassing some far-right and other far-left positions.

2. If more people would recognize #1, and if the Libertarian Party (or a successor) would begin offering reasonable candidates instead of single-issue (i.e., anti-income tax) kooks, we might have a chance for our views to be represented by a major political party.

3. "thank goodness that the people who are responsible for writing legislation have no clue how to do a competent job of accomplishing their desires..." Many of the Libertarian authors of the constitution purposely made it difficult to do anything in government for the very reason that a government which seldom acts comes closest to the Libertarian idea.

[AAAA]

Conservatives believe "if it ain't broke don't fix it." Luckily we have the privilege of living in a land where people died to assure the liberties we take for granted and got us started with sustainable principles!

Unfortunately, with poker, we have allowed legislators to restrict gambling, for the "greater good," and lump poker in with casino games. Now we have the unenviable position of having to protect what should be a "right." It is now the proverbial "uphill battle."

[RedBean]

Great post memphis. I never could identify completely with the GOP or the Dems, but I never really knew exactly what a Libertarian was, but after reading your post I realize that I JUST MIGHT BE ONE.

[Dennisa]

Its called being a Libertarian, not Replublican

[TruePoker CEO]

I think their trip up the Hill was a great idea, long overdue.

Good choices also.

[TruePoker CEO]

Thanks to the Cato Institute for stepping up on this one also ..... (The odds of my ever saying that had been astronomical prior to this issue.)