Witnesses Encourage Adoption of Frank Bill

For those of you who weren’t able to follow our Twitter updates from the House Committee on Financial Services hearing today, we heard some terrific testimony from experts at Harvard University, YouBet.com, WiredSafety and the National Council on Problem gambling about the importance of creating a regulated environment for Internet gambling.

Professor Malcolm Sparrow of Harvard University said, “Combining a thoughtful regulatory scheme with education, technology tools, and support appears to be the most effective means of handling the realities and risks of online gambling in the United States…In the end, consumers in the United States would be better protected than they are now.”

If you’d like to read some more about the hearing, including statements of the witnesses, please click here.

Thanks,

Michael Waxman
Safe and Secure Internet Gambling Initiative
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I think a well regulated and responsible online poker industry is the best for all parties involved. It's true that the consumers aren't protected atm. I'm British so i'm not really involved in this but regulation seems the right way forward. It will also help attract more people to the game if they know it's safe.

I really can't see how this doesn't get worked out. FOR CHRISTS SAKE, we are trillions in debt and in a recession. We need to create jobs and additional revenue. At the end of the day, I think that the government is smart enough to recognize that fact. Plus, how is poker any different than any other business venture? All of it assumes an investment and a calculated ammount of risk. Seriously. And many people go belly up in both ventures. If they are successful in "outlawing" poker, then they need to outlaw business, and then there goes our capitalistic ambition as a nation. Whatever, I just vote these yahoo's into office, I don't have a say in the matter.