The House Banking and Financial Services Committee is scheduled to mark up HR 4419, the Internet Gambling Funding Prohibition Act, tomorrow. The bill proposes to cut off virtually all methods of payment for online gambling transactions.
Particularly standing on pins and needles is the American Horse Council (AHC), as the bill doesn't include the same carve-outs for the racing industry as its companion, The Internet Gambling Prohibition Act (HR 3125). The AHC is alarmed because HR 4419 does not exempt forms of gambling (such as the closed-loop system utilized by Youbet.com) that are planned and conducted by pari-mutuel betting services.
During tomorrow's mark up session, however, Congressman John Sweeney of New York is likely to propose an amendment to the bill that would except legal, state-regulated wagering. The AHC has also issued a call for action on this matter, putting together a letter and talking points for supporters to use when encouraging legislators to add Sweeney's suggested carve outs to the bill.