Letter regarding H.R. 2267, the "Internet Gambling Regulation, Consumer Protection, and Enforcement Act"

The Honorable Barney Frank
Chairman
Committee on Financial Services
U.S. House of Representatives
Washington, DC 20515

The Honorable Spencer Bachus
Ranking Member
Committee on Financial Services
U.S. House of Representatives
Washington, DC 20515

Dear Chairman Frank and Ranking Member Bachus:

The U.S. Chamber of Commerce, the world’s largest business federation representing the interests of more than three million businesses and organizations of every size, sector, and region, supports H.R. 2267, the “Internet Gambling Regulation, Consumer Protection, and Enforcement Act,” and urges the Committee to approve two amendments expected to be offered during the markup of this legislation that would improve the bill in important ways.

The Chamber strongly supports an amendment by Rep. Peter King, which would explicitly prohibit any Internet licensee from accepting a sports bet from anywhere in the world on any professional or amateur sport.

Furthermore, The Chamber strongly supports an amendment by Rep. John Campbell, which would modify the existing regulations under the Unlawful Internet Gambling Enforcement Act (UIGEA) to require the Treasury Department to create a list of illegal Internet operators modeled on the OFAC list. The Chamber believes that such a list would ease the compliance burden for regulated financial institutions, would be more effective against illegal operators, and would minimize the incidence of the “overblocking” of legitimate e-commerce by financial institutions trying to comply with the UIGEA regulations.

The Campbell amendment also includes stronger consumer protection provisions, particularly aimed at preventing minors from placing bets on Internet gaming sites and protecting problem gamblers. It would also expand the role of state gaming authorities in the process of licensing Internet gaming.

The fundamental purpose of H.R. 2267 is to replace an unregulated, offshore industry with an on-shore, regulated industry that would create jobs and revenues in the United States. The Chamber urges you to support the King and Campbell amendments.

Sincerely,

R. Bruce Josten
Cc: The Members of the House Committee on Financial Services