Rumblings from Washington's corridors of power have the growing list of co-sponsors for Barney Frank's proposed online gambling bill now numbering 50 and counting.
The new bill, named the Internet Gambling Regulation, Consumer Protection and Enforcement Act (H.R. 2267), will repeal the current UIGEA and replace it with a licensing and regulatory regime. Bipartisan support for the bill has been gathering momentum since its drafting earlier this year, and a growing recognition that current measures are simply ineffective.
Of course, the estimated $50 billion in tax revenues to be earned by the government over the next decade should the bill become law, is also proving to be a catalyst for changing attitudes on both sides of the political spectrum.
As pointed out by Jeffrey Sandman, spokesperson for the Safe and Secure Internet Gambling Initiative, "The list of supporters will continue to grow as more representatives are educated on the subject and increasingly hear from their constituents that Internet gambling regulation presents the only viable way to protect consumers, since attempts to prohibit the activity have completely failed. We also expect an increased spotlight on Internet gambling as a way to augment federal revenues and help cover the cost of necessary policy initiatives."
Barney Frank told an audience of poker players at the WSOP last month that he was confident his new Bill would be passed into law before the year's end.
A complete list of co-sponsors may be found at Rolling Good Times.
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