Expert doesn't believe online gambling regulation will happen in 2010

[The Buzz]

Online gambling expert Sue Schnieder of eGamingBrokerage.com told the Sun Herald of Mississippi that she doesn't believe regulation will happen in the United States in 2010. She did say, however, that anything can happen in the lame duck session after the November elections.

From the article:

Schnieder said the current legislation would provide revenue sharing with the states and an opt-in period during which each state would decide whether to permit online gambling.

Larry Gregory, executive director of the Mississippi Gaming Commission, said there are already social concerns in the state with traditional casinos. He said Internet casinos have a long way to go before they would be approved in Mississippi.

“Internet gambling is abstract,” he said. “It’s so complex of an issue.”

Where the Mississippi casinos provide 28,000 jobs, he said, an Internet site could be run by perhaps a staff of five. Then there are problems with identity theft, and underage and compulsive gambling.

[Anthony]

I believe Sue is correct. Nothing is going to happen this year.

[Betpartners]

Year is almost over, have to be positive that something may happen next year,

I fear it could be a few years yet

[davenewgates]

That's right. Next year may got a better chance for the regulation. But let's see if the lame duck session will give way to online gambling regulation for this year, and let's hope that it won't take a few years more.

[GamTrak]

Has anyone been watching the Senate race that Barney Frank is in? I'm hopeful that he will remain in office, but folks really need to support him or the delay may be even longer than a few years if Bachus has his way.

US Midterm Elections 2010 Results Interest Internet Gambling Industry

In a nut shell, Democrat Barney Frank of Massachusetts as Chairman of the Financial Services Committee could be forced to push through internet gambling regulation during the lame duck session assuming his party loses control of the House. This makes a Republican sweep of the House of Representatives the outcome the pro regulation faction of the industry would like to see happen, as does the banking industry which Frank serves, but lets take another look at that scenario.

Representative Spencer Bachus of Alabama is currently the highest ranking Republican on the Financial Services Subcommittee which is chaired by Barney Frank. Bachus is part of the GOP establishment that is against any form of internet gambling and has been trying to block Frank's pro internet gambling agenda. Meanwhile Tea Party favorite Ron Paul has supported Frank's regulation initiative. Paul is considered a friend to the online gambling industry while only being a "friend of convenience" to fellow Republican and GOP shill Bachus.

If the Tea Party helps the Republicans gain control of the House, do not expect all the freshmen Congressmen and Congresswomen to fall in line with the GOP establishment, especially in matters such as freedom of liberty.

Most if not all will follow Ron Paul's lead and I expect him to get serious consideration as a 2012 Presidential candidate so you might want to grab some Ron Paul 2012 Presidential Futures at 60 to 1 odds. Keep in mind this is the first wave of "throw the bums out of office" which will continue in 2012 and 2016 if the economy does not get better. Now more than ever voters are encourages to support candidates that will agree to support legislation to regulate the industry.

Colorado has early voting and I hope the same goes for MA because folks need to get to the polls for us to have a chance.

[AdrienneJay]

I'm not an expert but I don't believe too on that gambling regulation on 2010, year is about to be over and still gambling issues are still being in controversy.

[TravG]

I actually wouldnt expect anything for awhile. Republicans are anti-gaming. I'm happy for the country for its bad for our business!

[JoeAdams]

The year is almost over, there's only a few more days left. Up to this moment, online gambling issue in the US is still under debate and now seems even more complicated.

[Rangel]

It seems to be never ending this negotiation process.... but I am confident on 2011 and have seen many busy bees preparing for the market opening. Many companies shifting operations into the US, establishing and strengthening teams throughout several states and why go to the trouble if it wasn’t meant to be.
I think we should all be prepared for next year and keep positive thinking
It would be just the thing to bring back the dynamics into the gaming business.