Online Gambling Enforcement Not Working

Barney Frank: "Online Gambling Enforcement Not Working"

Rep. Barney Frank reiterates his commitment that the proposed rules to enforce the Unlawful Internet Gambling Regulation and Enforcement Act (UIGEA) are “going nowhere.”

Rep. Frank’s statements were made in a letter to the Credit Union National Association (CUNA), which testified last week that U.S. financial services companies would face serious regulatory burdens if forced to enforce UIGEA and police for illegal Internet gambling activity.

Last week, Barney Frank held a hearing Wednesday looking to abolish the UIGEA that is essentially depriving the troubled US economy of billions in potential revenue. Frank's trump card hinged on "the murky language contained in the law". The UIGEA allows for some forms of online gambling while excluding others like Internet poker.

“I think it is very difficult without having a bright line about what is intended to be unlawful Internet gambling,” Louise Roseman, head of the Federal Reserve’s bank operations division, told lawmakers Wednesday.

“The challenge we have is interpreting something, particularly federal laws, that Congress themselves isn’t sure what they mean,” she said.

Frank has been a workhorse in Washington, addressing the mortgage meltdown, economic woes brought on by excluding billion dollar industries such as online gambling, and proposing other fiscally proper behaviors.

With Frank, it's indeed foreseeable we could have our first gay Jewish President of the United States come 2012. He might be a force in 2008 if he were actually running.

See Barney Frank's letter to credit unions here: Bfrank.pdf

SEX AND GAMING

There was a big controversial about relations between Sex and Gaming. Now science help to have a clear answer, but actually we have to say more precisely that beauty inspire mens to take more risk in gaming. Read the following article.

The slogan "sex sells" has been a statement of instinctive knowledge for many years, and it applies especially so in the world of casino gambling, where skimpily-dressed servers compete with exotic showgirls to distract players from their concentration. Now, science has proven that sexual stimuli do cause subjects to gamble more freely.

A study undertaken by Stanford University has found that heterosexual men, when confronted with erotic images, are more likely to tke financial risks, and to increase the size of the risk. Brian Knutson, assistant professor of psychology at Stanford, stated,"This is the first study to demonstrate that emotional stimuli can influence financial risk-taking."

Knutson found that, regardless of the particular bet being proposed or the history of the player in relation to the game, sexual imagery increased the likelihood of the subject wagering.

Knutson had previously demonstrated in a 2005 study that monitoring of brain activity could predict whether people were about to take financial risks; now he has proof that those decisions can be influenced by non-relevant stimuli.

Knutson also stated that the outside stimuli worked best in a situation involving time pressure; therefore, more so for a casino at a blackjack table than a used-car dealer, whose customer may take some time to think clearly.

If this study reaches the desks of casino management, it may be assumed casinos will emphasize eye candy more than ever, which allows those who lose money to at least have more memorable visuals from their entertainment. The bonding of strip clubs and Strip casinos may come soon, with any luck.

(Published on abril 5, 2008 by Tom Weston in Online Casino Advisory)