There are now 50 members of Congress signed on as co-sponsors of the internet Gambling Regulation, Consumer Protection and Enforcement Act introduced by Representative Barney Frank.
Frank’s bill would establish a framework to permit licensed gambling operators to accept wagers from individuals in the US and mandates a number of significant consumer protections, including safeguards against compulsive and under-age gambling, money laundering, fraud and identify theft.
The legislation would also allow states and Native American tribes with experience in regulating gambling to play a role in the regulatory process.
An analysis shows that collecting taxes on regulated online gaming would mean revenue ranging from US$48.6bn (excluding online sports gambling) to $62.7bn (including online sports gambling) for the US over the next decade.
Among the group of co-sponsors are many senior ranking representatives, including George Miller, chairman of the Committee on Education and Labour, John Conyers, chairman of the Committee of the Judiciary, and Charles Rangel, chairman of the Committee on Ways and Means.
