Barney Frank to Introduce Anti-UIGEA Bill Tomorrow

Massachusetts Congressman Barney Frank said today that he plans to introduce a bill tomorrow that would lift restrictions on internet gambling in the U.S.  Frank, U.S. House of Representatives Financial Services Committee Chairman, is expected to hold a press conference Thursday at 10:00am to discuss details. 

A vocal opponent of the Unlawful Internet Gambling Enforcement Act (UIGEA) during and since its passage in this past fall, Frank made the announcement about the bill at a community bankers group conference.  Said Frank, "Why anyone thinks it is any of my business why some adult wants to gamble is absolutely beyond me." 

The UIGEA does not technically “ban” online gambling, as some assume, but rather aims to prevent the flow of money to and from the gambling companies.  It was attached onto the unrelated SAFE Port Act and passed in the middle of the night just before Congress adjourned for the session.  While it did get support from both Democrats and Republicans, there was little to no debate about its merits and anyone who wished to vote against it was handcuffed, since voting against it meant voting “against” port security.   

While there is still a long road to hoe for supporters of online poker, when asked if the anti-UIGEA has a chance, Andrew Parmentier, a senior policy analyst at Friedman Billings Ramsey said, “Absolutely…” 

On the other hand, Anthony Cabot, a partner with the law firm Lewis and Roca, does not feel that the law will be able to be repealed.  He does, however, feel that it could be edited. 

Originally published 5:04 PM Wednesday, April 25, 2007