Home › content

Congress Approves Ban on Internet Gambling

Authored by Mark Hefflinger on October 2, 2006 - 1:54pm.
Washington - Congress on Saturday approved a bill that would ban most forms of Internet gambling in the U.S. The legislation prohibits banks and credit card companies from accepting transactions from would-be U.S. customers and Internet gambling sites, and assesses fines or penalties for those who fail to comply. The bill was attached to unrelated legislation aimed at improving port security, after an earlier attempt by Sen. Bill Frist (R-Tenn.) to add it to a defense spending bill failed. "It's been over ten years in the making. The enforcement provisions in this bill will go a long way to stop these illegal online operations," said Sen. John Kyl (R-Ariz.), a sponsor of the bill. "This ban will help authorities enforce existing federal and state laws." The legislation was enacted following two recent arrests of executives from overseas online gambling firms who were traveling in the U.S. The Associated Press reported that shares of online gambling firms that accept wagers from U.S. customers plummeted on Monday, including PartyGaming (down 56%), Sportingbet (64%), Bwin (35%) and 888 (26%).
http://kyl.senate.gov/record.cfm?id=264269
http://tinyurl.com/gh6go (Reuters)
http://tinyurl.com/len5g (AP)
tags: Games | Sports | Internet | Law | Gambling | Bills | Legislation | Casinos | Poker |



Comments

Post new comment

The content of this field is kept private and will not be shown publicly.