In a day of big news in the egaming business, Barney Frank's Internet Gambling Regulation, Consumer Protection, and Enforcement Act took a big leap towards implementation on Wednesday when it was passed in the House Financial Committee by a wide margin of 41 to 22. If the bill becomes reality, it will put an end to the UIGEA and create a regulated market for online poker in the USA.


While passing the Committee vote is no guarantee that the bill will eventually be implemented into law, it is a major step in the right direction. After this the bill will be sent to the House floor for another vote, and if successful, it has to pass the Senate vote before being implemented by the president.

Rep. Spencer Bachus, who has been the most vocal opposer of the bill, did everything in his power to stop the bill but in the end his side was voted down by a clear margin. However, several amendments to the bill were made before it was accepted, and some of them are not so good news for PokerStars and Full Tilt Poker, the current market leaders in online poker.

The most significant amendment relates to sites that have continued serving US customers after the UIGEA was passed in 2006, including PokerStars, Full Tilt Poker, UB, Absolute Poker, Bodog, Cake Poker and a number of smaller sites. According to the amendment brought by Congressman Brad Sherman, online sites which have intentionally broken Internet gaming laws cannot get a license to conduct business in the USA.

Other amendments to the bill include:

* All license holders facilities must be located in the US.
* Players must be at least 21 years of age, and the sites have to verify their age and residence.
* The US Treasury is required to observe the sites and order fines or revoke licenses if minors are found gambling.
* Sites must put a stop-loss limit to the players. Money transactions can be made with prepaid and debit cards only, credit cards are restricted. Also, sites are forbidden to allow persons who are delinquent on child support payments from gambling on their sites.
* Sports betting remains prohibited, excluding horse racing. This is to protect the integrity of the sports.

Source: Pokertableratings.