Frank holds Hearing on Regulation of Online Poker and Gambling this Friday

A hearing in support of Rep. Barney Frank's Bill, HR 2046- the Internet Gambling Regulation and Enforcement Act (IGREA) is scheduled by the House Financial Services Committee on Capitol Hill this Friday morning, which needs the advance support of online poker players.

HR 2046 specifically aims to amend title 31 of the United States Code (which relates to the role of the money and finance in the general and permanent federal laws of the United States) by providing licensing of Internet gambling facilities by the Director of the Financial Crimes Enforcement Network (click here to read about the bill's introduction).

The bill also provides a framework for the regulation and taxation of online gambling sites which would then become exempt from the October 2006 Unlawful Internet Gambling Enforcement Act (UIGEA), which currently bans financial transactions between US residents and online gambling companies other than those 'exempted' such as horse racing, state lotteries and fantasy sports.

The hearing is for the benefit of the members of the House Financial Services Committee (which Frank chairs) who will ultimately decide whether Frank's bill moves forward.

The hearing, whose title is: "Can Internet gambling be regulated to protect consumers and the payments system?," will feature several high-profile witnesses from both sides of the online gambling debate.

SPARSE WITNESS LIST?

Witnesses include Howard Lederer, who is listed as a professional player and 'poker industry software consultant,' and is also a member of the Poker Players Alliance (PPA) Board of Directors, and Radley Balko, senior editor of Reason Magazine.

Both have expressed strong opposition to the UIGEA and are in favor of the regulating Internet gambling in the US.

In fact, PPA Chairman Alfonse D'Amato in an article says that Barney Frank's efforts to push through this bill are nothing short of heroic (click here to read related article).

Jon Prideaux, chief executive of Asterion Payments, and Gerald Kitchen, CEO of SecureTrading, a UK-based Internet payment service provider, will also speak during the hearing. SecureTrading's website claims that it is able to "virtually eliminate risks such as underage gambling, money laundering and abuse by organized crime and fraud against consumers."

Gambling911 warns that "some suspect that certain payment processors are being lined up to assume positions once held by online gambling ePayment provider NETeller, and that the US government would be able to maintain them on a very short leash."

Baptist minister Greg Hogan may also testify. Hogan's son was the subject of a 2005 high media profile criminal case and is currently serving a sentence of imprisonment in Pennsylvania. He was found guilty of robbing a bank to pay off debts to his fraternity brothers who helped him fund Internet poker accounts.

SUPPORT NEEDED: CONTACT CONGRESS NOW

Just before the bill's introduction, Frank, recognizing that the bill would only pass if a groundswell of voters express their support for the bill to congress, said he does not plan to actively sell the bill on the Hill.

Instead, he will rely on outside groups to do that for him, saying, "I'm going to let the voters do this one."

Kelly Larkin, the director of scheduling for Frank's House Financial Services Committee said that it could be "vital" for citizens who support Frnak's bill to contact their individual state political representatives to stress their support.

Frank sent a letter to all congressmen this week explaining his bill, Larkin revealed, reiterating that voters calling before the meeting would be vital for getting representatives on board with regulation.

The Poker Players Alliance website offers a contact list and letter template for writing your congressperson (by zipcode) making it quick and easy to even add highly valued personal comments (click here for it).

Alternately click here for a complete contact list and informative profile of all the current Senators and members of the U.S. House of Representatives.

If you do not know which senators represent your state, or who represents your district in the House of Representatives, you can enter your state and zip code to the left of the map, then you'll be shown the list for your location. Or you can click on your state on the map to see a complete list (good if you know your district number).

The hearing will be the first Congressional discussion on Internet gambling since the UIGEA became law last October.

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