Barney Frank, Smartest Man in Congress, Defends Online Gambling
Just two weeks after covering the cheating scandals at online poker rooms, "Sixty Minutes" ran a profile of the lead defender of online casinos in Congress, Barney Frank. Considering Frank's outspoken position in favor of letting individuals choose to decide whether to visit Internet gambling sites, it might have seemed curious that the subject never came up during the segment. What it really might be is significant.The idea that Frank's stance on supporting and authoring bills promoting personal freedoms, including the right to play at online casinos and the right to smoke marijuana, did not make the profile may show Internet gaming fans the biggest obstacle in the way of legalization and regulation. Congress is expected to be much friendlier toward Frank's initiatives, a process that had already begun toward the end of the last session.
But economic catastrophes have become the gigantic mess dominating Frank's time as chairman of the Financial Services Committee. When "Sixty Minutes" does not broach a topic they themselves made front page news a fortnight earlier, it shows how little time can be expected to be devoted to online gambling while mortgage foreclosures skyrocket and industries collapse.
The show did mention Frank's reputation as possibly the smartest man in Congress. The profile revealed that Frank does not even use a computer, remarkable for a man who is the legislative hero of millions of computer gamblers. Truly, Frank is a man of conviction. He doesn't need to be interested in Internet gaming himself to say government has no business preventing citizens from enjoying themselves.
Perhaps the significant revenue stream available through regulation may call lawmakers' attention to the UIGEA debacle sooner rather than later. But online casino patrons had better continue practicing patience, as action to remove the ban may not be among the top priorities at this time.
Recent Comments
| Posted by: Edward Brockhoeft | When: 03/26/2009 10:44:17 AM EST |
| If Barney Franks is so smart please tell me how and why he failed to see that Fannie May and Freddie Mac was going to fail. Politicians like this we can do without. The same goes for Nancy Pelosi, Chris Dodd, Harry Reid, Edward Kennedy, Al Sharpton, Susan Collins, Arlen Specter, Olympia Snow, Joe Biden,Barack Obama, Chuck Schumer. Time for TERM LIMITS for all political offices. | |
| Posted by: Stephen Gordon | When: 03/26/2009 02:38:24 PM EST |
| with all due respect to rep. Barney Frank, when it comes to gambling on- line this is just a recipe for disaster for anyone who gets involved as a PLAYER. If you have to play(gamble) go to a casino, not on-line. Sg | |
| Posted by: Jamie | When: 03/26/2009 02:46:58 PM EST |
| Stephen, do you have any basis for this statement or are you just an idiot? Here's some facts. Online casinos set their payout percentages for their slots about 10% higher than land based casinos. In Vegas and Atlantic City the typical slot machines pay out at 80-83%, at online casinos they pay out at 88-95%. If regulations were instituted in the US there would be protections for players such as betting limits and budgets that automatically shut down access to the casino once they are reached. Problem gambling help sites are prolific on the Internet. Identity protection is as secure as it is at your online bank. So, it is safer, more secure, and creates more winners to play online than at land based casinos, so please do not come here and make stupid statements based on your own stereotypes and unresearched thinking. Thank you. | |




