WASHINGTON - Legislation to allow Internet gambling is scheduledto be introduced today by US Representative Barney Frank.
Similar legislation failed in the last Congress. Frank, aMassachusetts Democrat, has support for the bill from suchcompanies as Youbet.com Inc., and Harrah's Entertainment Inc., inaddition to the Poker Players Alliance, formed to overturn a 2006ban on Internet poker.
Supporters "have been mobilizing," Frank said last week. "This isa grass-roots thing."
The legislation would allow licensed gambling operators to acceptonline wagers from people in the United States. The bill wouldrevise the 2006 law, which made it a crime for banks to processfinancial transactions used to place illegal bets online.
Harrah's vice president Jan Jones said regulating and taxingonline gambling might swell government coffers by $2 billion to $6billion annually. "At a time where there is no money, that can begoing to healthcare or S-CHIP," the children's insurance program,Jones said.
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