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Saturday, 28 February 2009Online Gambling: US to Overturn UIEGA to Stimulate Economy Online Gambling US to Overturn UIGEA to Stimulate Economy: According to news sources in order to mend trade ties with the European Union and to potentially stimulate the US economy, a Senior Democroatic lawmaker will move forward with a repeal of the UIGEA. "The bill introduction should happen in the next month," stated a spokesperson for Barney Frank the Chairmen of the House of Representatives Financial Services Committee.The ban on online gambling recently implemented by the Bush administration could possibly be history due to the need to generate revenue for a failing US economy. Several US states are also looking to legalize forms of online gambling with hopes to increase revenue. The European Union is also preparing to file yet another complaint against the US regarding the enforcement of the UIGEA at the World Trade Organization."Mr. Frank will bring back legislation to repeal the UIGEA (Unlawful Internet Gambling Enforcement Act)," stated the spokesman, referring to a bill created and passed in 2006 when the Republican party controlled Congress and the White House.Supporters of the repeal of the UIGEA argue that billions of dollars could be earned in taxing and regulating the online gambling industry. The online gambling regulations set in place by the US republicans, cost billions of lost market value to many European based publicly traded online gambling companies as well as billions of dollars of potential US tax revenue.Against the House of Representatives Financial Services Committee Chairman Barney Frank's advice, the republican party lead by the Bush administration rushed to finalize the passage of the UIGEA which essentially banned businesses from accepting payments in connection with online gambling, primarily related to payments made through electronic fund transfers, credit cards and checks.

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So what do you think Pokerstars value is if its legalized and sold to an American company
...i wonder if anyone in america can buy anything that large right now. Anyways, this recession is the best thing to happen to us in a while! It got rid of Bush, and now its gonna get rid of the UIGEA!edit: almost forgot the cheap hotel rooms in vegas!
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Because the author used a catchy title and the article has no supporting facts of an actual 'overturning'?
The story is on Reuters and appears legit. All it claims, however, is that Barney Frank is going to reintroduce legislation to overturn the UIGEA next month. We have no idea how such a bill will fare. The article is speculating that it has a good chance due to the current economic situation.
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The story is on Reuters and appears legit. All it claims, however, is that Barney Frank is going to reintroduce legislation to overturn the UIGEA next month. We have no idea how such a bill will fare. The article is speculating that it has a good chance due to the current economic situation.
Oh I agree with all you said. It just has an absence of hallway polling from legislators or interns supporting a 'we have the votes' that could have made the author's titling a little more substinent. I'm content with the process as it's progressing. This is good news.
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Actually, I would prefer that they do nothing.The only thing that will happen is that the sites will have to send taxes to the US government. The rake will go up. Leave it as it is. I just checked party poker, lad brokers and 888.com. Not a huge up tick in volume for the stocks.

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You guys really want the government running pokersites???Every government run operation is a disaster, and im sure poker will be as well.
This is not about the gov't running poker sites. (?)
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The Gov't would make a killing if they legalized, regulated and taxed online poker.Yeah it may look bad to have billboards for PokerStars in every US city, and im sure there would be a a ton of complains about underage gambling, but **** it. Underage players are already out there and the economy sucks. One time!

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This is not about the gov't running poker sites. (?)
I think whatarunaa was taking a clever satirical jab at critics of Obama's [insert any issue] policy.
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I feel like the US regulating, taxing, ... etc ... online poker would seriously hurt my bottom line.
I dont know.Just think about all the people who would be sitting in traffic seeing signs for online poker, thinking about how easy that would be. Then it would be incredibly easy to get money onto the sites so their would be massive amounts of donks just trying to give their money away.
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