House panel OKs bill to stop Net gambling

Bill would stop companies from accepting credit cards, other transfers
Updated: 6:39 p.m. ET March 15, 2006

WASHINGTON - A House committee Wednesday approved a bill aimed at stamping out the $12 billion Internet gambling industry by stopping businesses from accepting credit cards and other forms of payment.

The bill, cleared by voice vote in the House Financial Services Committee, would prohibit a gambling business from accepting credit cards, checks, wire transfers and electronic funds transfers in illegal gambling transactions.

Unlawful gambling, under the legislation, would include placing bets on online poker sites, for example, and any other online wager made or received in a place where such a bet is illegal under federal or state law.

Source and full story: MSNBC