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Feds issue
rule aimed at banning Internet gambling
Nov. 13, 2008
Copyright © Las Vegas Review-Journal
Feds issue rule aimed at banning Internet gambling
By ERICA WERNER
THE ASSOCIATED PRESS
WASHINGTON -- The Bush administration issued a final regulation Wednesday
aimed at banning Internet gambling, drawing criticism from Democrats who
said it would burden financial companies.
The rule from the Treasury Department and Federal Reserve requires those
companies to establish procedures to prevent payments in connection with
unlawful Internet gambling. They would be expected to comply by Dec. 1,
2009.
The chairman of the House Financial Services Committee, Rep. Barney Frank,
D-Mass., had asked the Treasury this week not to move ahead now, saying it
would "burden the financial services industry at a time of economic crisis."
The rule does not define "unlawful Internet gambling." That has been an
issue since Republicans pushed through the law that the new rule puts in
place, by attaching it to a port security bill in 2006.
Rep. Shelley Berkley, D-Nev., also blasted the regulations, saying the
payment restrictions will not stop people from placing bets online.
But at the same time, she said, they will weigh down financial services
firms struggling through the economic crisis.
"These rules place an unfair burden on banks and other businesses that will
now be forced to play the role of law enforcement," said Berkley, who had
been among the lawmakers seeking to postpone the rules through more study.
"Instead of making the situation better, these regulations will only create
chaos, huge headaches and high costs for all those involved," she said.
The law sought to curb online gambling by prohibiting financial institutions
from accepting payments from credit cards, checks or electronic fund
transfers to settle online wagers. But the law did not offer a clear
definition of Internet gambling, instead referring to existing federal and
state laws, which themselves provoke differing interpretations.
Banks and other financial institutions complained they were being forced
into a law enforcement role when Congress could not even define what conduct
it was trying to prevent. Payments are difficult to track anyway and online
gambling companies can disguise themselves with relative ease.
Franks' committee passed a bill this year seeking to block the rule from
taking effect and first defining what was illegal online gambling. The
measure did not pass the House.
Stephens Media Washington Bureau chief Steve Tetreault contributed to this
report.
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EXEC: ODDS GOOD FOR LEGALIZING ONLINE
POKER
Nov. 08, 2008
Copyright © Las Vegas Review-Journal
EXEC: ODDS GOOD FOR LEGALIZING ONLINE POKER
Harrah's Entertainment Chairman and CEO Gary Loveman said he believes the
odds for legalizing online poker improved with the results from Tuesday's
national elections.
Loveman described the prospects as "relatively good," although he said the
outlook for legalizing other casino games and sports betting on the Internet
look poor.
Loveman said he believes the outlook for legalizing Internet poker is
improved because none of the new congressional committee leaders are
"violently opposed to this process."
Loveman admitted Harrah's has strong interest in making online poker legal
because the company owns the World Series of Poker brand.
"This is something we're going to be working hard at, and we think the world
got easier on this one," Loveman said.
The comments come as the U.S. Treasury Department finalized regulations this
week that would ban online gambling.
ARNOLD M. KNIGHTLY/REVIEW-JOURNAL
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