The House Financial Services Committee passed the Payment Systems Protection Act by a 30-19 vote yesterday. I know this is just the first step in a long process, but it's still some good news for the online gambler. To make it law the next step is to pass the Senate and then must be signed by the President, whom ever that may be at the time. Keep that in mind, along with the other issues of the day when voting come November.

This new bill, which is co-sponsored by Committee Chairman Barney Frank (D-Mass.) and Rep Peter King (R-NY), calls on the Federal Reserve and the Treasury Department to immediately begin drafting and implementing regulations that prevent sports betting transactions from being processed. "Under this bill, at least the banks will know what is and isn't illegal," Frank said at the markup hearing. "We're asking the Treasury Department to give them a list."

The Professional Sports Leagues are opposed to the bill . For the life of me I don't really understand their opposition, unless the Pro-Sports League is tied into the land based Casinos some way...I'm very puzzled by their stance. What business is it of theirs if I fund an online poker room or a sports book ?

I'm not alone it seems. "I don't see why the sports leagues get to tell people what to do," Committee Chairman Barney Frank said. "How people spend their leisure time should be neither made illegal or encouraged."

The Poker Players Alliance has come out and stated their support of the bill. "The PPA is pleased that the House Financial Services Committee today recognized the need to provide necessary clarification to what constitutes 'unlawful Internet gambling' under the Unlawful Internet Gambling Enforcement Act (UIGEA) by passing H.R. 6870," said PPA chairman and former Senator Alfonse D'Amato.

Source - Daily News-RGT Online