US poker bill hearing to begin on July 27th

The American Internet Poker Bill which is known as HR 2267 has been being debated at a Congressional hearing this week, the proposed legislation will now be amended and rewritten by the House Financial Services Committee next Tuesday.

The idea of the bill is for the US government to provide a safe and regulated environment for the online poker industry. The debate was fairly lively and a number of changes to the bill were suggested and discussed.

One of these changes was the proposed use of technology to watch the industry and also a wager limit which would protect players from potential losses. If enough of the committee vote for the bill then it moves to the House of Representatives for consideration.

The Representative Barney Frank is the main driving force behind the Internet Poker Bill and he has had huge amounts of support for his campaign from organisations such as the Poker Players Alliance (PPA) and the Safe and Secure Internet Gambling Initiative (SSIGI)

Michael Waxman a spokesperson from SSIGI recently commented on the latest developments in Washington and said that Congress is now demonstrating a real seriousness in the progression of the bill,  “The passage of this legislation would be a win-win, as it will protect consumers, create an estimated 32,000 new jobs over five years, and provide federal and state governments with as much as $72 billion in new revenues over ten years.”

They are also considering a 6% deposit fee to be paid by licensed operators to state governments and as well as 25% of revenue to be designated into care programmes. On Tuesday July 27th at 10:00am ET the House Financial Services Committee mark up of Rep. Barney Frank’s HR 2267 Bill will begin.