Online poker players may be about to draw an inside straight.
According to the Wall Street Journal, Senate Majority Leader Harry Reid is circulating a draft bill that would finally make online poker legal again in the United States.
Gambling advocates, however, who’ve been clamoring for Congress to rescind the Unlawful Gambling Enforcement Act (UIGEA) ever since it was passed in the dead of night in 2006, may only get half their holiday wish. The Reid bill would reportedly only chip away at the UIGEA, allowing only already existing casinos and slot-machine makers to operate legal Internet poker sites.
Intrade, Betfair, and a slew of other political betting sites that stand to make a fortune if all online gambling is legalized and regulated in the United States may be out of luck under the Reid bill. They had been hoping that Barney Frank’s House bill, which would legalise and regulate all online gambling, would be passed during the lame-duck Congress. At last check, however, punters at Intrade only gave Barney Frank’s bill a 2.5% chance of passing by the end of the year.
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