Federal Gambling Legislation Bill Introduced by Peter King (NY)

Gambling Bill Introduced by Peter King of New YorkAs more states have begun to create their own gambling legislation, the United States has awaited new federal legislation that would allow for legalized online gambling. The time has now come as Peter King, a Congressman representing the state of New York, has introduced a new measure titled the Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2013.

The new legislation would allow for online gambling options in the US as well as cover specific areas such as regulatory measures based on the ruling by the DOJ back in late 2011.  It was then when the Department of Justice ruled that online gambling of any type of legal on the federal level if the state allows the option.

This is why states have been approaching the option themselves. A state option can vary and can create less protection for consumers and is not always the best option for players.

With federal legislation on the common level, players will be protected against such issues as problem gambling and underage options. The federal legislation will make it easier for businesses in the industry as well as lawmakers, regulators and players to participate as well as navigate the industry, according to King.

The new measure is set to create a new system that will license and regulate online gambling at the federal level. The new legislation will also grandfather in any existing state option that is limited to the boundary lines of the state. This would include such states as Nevada, Delaware and New Jersey. The bill will include the following based on the press release:

  • Establishes a uniform federal system for states that choose to participate, enabling adults to gamble online, with controls to protect against compulsive gambling and to prevent underage persons from gambling.
  • Creates an Office of Internet Gambling Oversight in the Department of the Treasury, and establishes criteria for state and tribal bodies to carry out licensing activities on behalf of the federal government. The federal government retains overall jurisdiction and oversight, but relies on state expertise for licensing of operators, enforcement and other activities, under a common federal standard.
  • Gives any state or tribe that does not wish to participate in the federal interstate system the ability to opt-out and prohibit online gambling or to operate intrastate gaming within its borders as authorized under state or tribal law.
  • Applies tough penalties to unlicensed operators. One major goal of this bill is to put them, and their off-shore, untaxed, unregulated services, out of business, forever.
  • Shuts down money launderers and criminals seeking to use internet gambling to move funds. Regulating online gambling at a federal level will clearly separate illicit operators from law-abiding licensed operators.
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