A bill to license and regulate online gambling in the United States received a 41-22-1 vote of approval by the Financial Services committee on Wednesday of this week.
This decision was largely influenced by Republican John Campbell and Democrat Brad Sherman who have both played a significant role in amending the bill and ensuring its passage.
According to the amendment authored by Campell, all online gambling facilities targeting United States would require licenses. The amendment also call for additional protections for players by requiring the game odds for each casino game to be posted visibly, and loss limits to be imposed in addition to age and location verification.
Sherman’s further amendments ensure that gambling companies requiring licenses would have to hold a majority of their business in the U.S, furthermore, managers and owners of online gambling companies who had deliberately evaded or violated U.S. law regarding online gambling will not be able to obtain licenses.
This bill however does have a few processes to clear before it becomes law. Firstly, the full House needs to vote on it which seems unlikely before the House’s August break on the 9th of August 2010 begins. This mean that the bill will have to pass a full floor vote between September 7th and October 8th 2010 before the November Congress sessions. So in order for a vote to even occur the Democratic leadership in the House, led by Speaker Nancy Pelosi (D-Calif.), will need to schedule it.
Should the House pass the bill, it will then be moved up to the Senate and if it is passed by the Senate it will need to be signed by President Obama. If all of this does not happen before this year’s legislative session, the process will have to begin from scratch in 2011 when the composition of both the House and Senate will be different.
So while this is a very positive step for US casino players, it is a tentative one that is not being celebrated too widely just yet.