Bingo set to become legal in the US

06/05/2009 18:05
Type Online Report
Theme bingo

A new bill being drafted by Mass. Senator Barney Frank is set to see online bingo becoming legalized possibly by the end of the year.

The new bill will be known as Internet Gambling Regulation Consumer Protection & Enforcement Act, which in turn will overpower Unlawful Internet Gambling Enforcement Act (UIGEA) which was passed in October 2006.

This is good news for bingo players as the operators who would be granted access to US players would have to demonstrate existing expertise in online gambling and funding sufficient to pay all winners as well as having systems and technology in place to prevent money laundering, fraud, underage gambling. They would also have to enforce relevant federal, state and Indian tribal laws including tax collection on bets and have rules to protect problem gamblers from playing.

Admid news of the new change in the law on its way online gambling shares jumped by up to 10%, and continue to climb.

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