Odds against amending HR 2046

HR 2046 has 19 co-sponsors including Massachusetts House Representative, Barney Frank. The bill designed to regulate and license the Internet gambling industry, contrary to the UIGEA bill passed in October of 2006. The bill was specifically designed to address concerns laid out in the UIGEA, creating bi-partisan support for the bill. Even as the bill is starting to generate momentum, a possible new proposal threatens to sink it before it is put on the floor for a vote.

Speculations, and rumors are circulation about a possible amendment to the bill regarding affordable housing. This is unconfirmed speculation at this time, but online casino industry analysts are approaching this with regard to the possible impact on the bill. Even as carefully crafted this bill is, covering even the fraud concerns expressed in the UIGEA, should this amendment be added, support will likely fall to partisan lines.

The speculated housing addition is completely unrelated to the online casino gambling industry. It is intended to alleviate the rising rate of home foreclosures in the United States with a one billion dollar fund, which would be used to build one and a half million homes in the next ten years.

Many in the online casino industry are ‘placing odds' against the amendment to the legalization and regulation bill.