Industry News
Online Money Transfer Proposal for Gambling Gains Backing
The legislation was introduced by U.S. Rep. Barney Frank, D-Mass. Thirty-six representatives have pledged their support as co-sponsors so far, including U.S. Rep. William Delahunt (D-Mass.), who represents Cape Cod and its nearby Islands.There are three other bills under review by the Congress linked to online betting. Frank's bill, which has the most co-sponsors, is still in the Financial Services Committee, which he chairs and which oversees the banking business.
Payment companies such as Visa USA are supportive of the bill because in the 38 states, including Massachusetts, where Internet gambling is legal, gamblers can use their credit cards but not their debit cards.
Banks have been forced to play "the morality police," said Steve Kenneally, vice president of payments and technology policy for America's Community Bankers, a national trade association. "Rules from the Federal Reserve and the Treasury were expected in July, said Kenneally, but banks have not yet received them."
Kenneally said something must be done to ease the burden on the banks. "For example, if you write a check to 'Tom's House of Cards,' how are we supposed to know whether or not it is intended for a gambling site or for a Hallmark store?" Kenneally said.
Nearly four percent of residents — nearly twice the national average — have gambled online, according to an October 2006 survey conducted by the Center for Policy Analysis at the University of Massachusetts-Dartmouth.
Internet gambling could actually increase business for any casinos that might be built, said Clyde Barrow, director of the Center for Policy Analysis at University of Massachusetts, Dartmouth.
"It has the converse effect to what you would think," said Barrow, who oversees the New England Gaming Research Project. "People tend to learn the game playing online."
The gambling industry was not alone in lobbying for the bill. Payment processing companies accounted for $480,000 in expenditures. And credit card company Visa USA listed Frank's bill as one of dozens that it has supported.
Other groups have been putting pressure on Congressmen. "We have been very active in getting our 720,000 members across the country to get engaged at the local level," said John Pappas, executive director of Poker Players Alliance, a nonprofit group that represents poker players. Alliance members visited more than 100 congressmen in August, Pappas said.
The loudest voice of opposition has come from Focus on the Family, an evangelical Christian group.
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