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The news seems too good to be true.  The House Financial Services Committee released a press release this week that clarified not only when Chairman Barney Frank intends to release his bill related to online casinos, but what the legal intentions of the bill will be.  Online casinos and Internet gambling operators have been waiting patiently for this day. 

Early rumors circled the Barney Frank would introduce a bill that would overturn the Unlawful Internet Gambling Enforcement Act some time this year, especially after the sweeping victory enjoyed by the Democratic party during the 2008 elections in November.  After that, anonymous source said that Frank intended to introduce legislation this past April, but at this point it was not clear as to whether his legislation would simply overturn the Unlawful Internet Gambling Enforcement Act or actually begin a regulating process for online casinos offering services to American players.

Now, rumors have ceased and only a press release from the House Financial Service Committee remains.  The release says that Chairman Frank will introduce a bill on Wednesday, May 6, 20009 that will “enable Americans to bet online and put an end to an inappropriate interference with their personal freedom.”

The release went on to explain: “The new bill would create an exemption to the Unlawful Internet Gambling Enforcement Act (UIGEA) for operators that are licensed and regulated.”

“UIGEA, which was enacted in 2006, restricts the use of the payments system for Americans who seek the freedom to gamble online.”

With the success of the bill, online casinos will be returning to the United States.

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