If The Barney Frank/Ron Paul online gambling bill becomes law, UIGEA will be repealed and online casino gambling will be legalized and regulated in the United States. Sports betting, though, would still likely be left out.

Yesterday, the Internet Gambling Regulation, Consumer Protection and Enforcement Act (HR 2267), which was concocted by Democrat Frank and Republican Paul, cleared the House Financial Services Committee. By a 41-22-1 vote, the bill to license and regulate online gambling in America passed the committee, paving the way for it to be voted on by the full U.S. House of Representatives.

There are already compromises in the bill, though. Republican Peter King inserted an amendment that emphasizes that sports betting would remain illegal online and offline. King did so to protect the interests of powerful and loved sports leagues in the country, particularly the NFL. King admitted that “the NFL has concerns about gambling.”

To be honest, so do I. Sports betting scandals are terrible for the leagues, the teams and America (just ask the Chicago White Sox or Tim Donaghy). Concerns over game fixing don’t necessarily mean that sports betting should be banned, but it is a legitimate concern.

In any case, the bill passed the House with King’s anti-sports betting amendment. However, that doesn’t mean the amendment will say in the bill. During the full House mark-up, it can still be removed. Another amendment was added by Republican John Campbell and Democrat Brad Sherman. That amendment ensures that online casinos that target U.S. customers would have to be based in America, thus ensuring that the country would profit from the legislation and not lose revenues overseas. Other amendments were added for the protection of players, requiring the online casinos to post the odds of the games, have loss limits and verify the players’ age and location.

The online gambling bill is not yet scheduled for a floor debate and is not expected to be brought to the floor earlier than early September.

The NFL season just started, so of course it’s time to talk about a Super Bowl tie-in promotion. No, seriously. Rushmore Casino has announced that it will be holding the popular blackjack tournament Blackjack Bowl III. It is a 21-week long event that culminates in a final competition in February 2010, coinciding with the Super Bowl. The winners in the final will share a $21,000 prize pool. There are many qualifiers leading up to the final tournament, and those rounds have a total prize pool of $50,000.

The first round of qualifiers is held three times per week, on Mondays, Thursdays and Saturdays. As the qualifier extends into the week, the entry fee and prize increases. In the Monday event, called BKJK III-$7 Playoff, there is a $7 entry fee and a $25 prize pool. In that playoff, the first-place finisher wins $15, the second-place finisher gets $7.50 and the third-place player wins $2.50. On Thursdays the BKJK III-$14 Playoff is held, where players compete for a $50 prize pool. The winner gets $30, the second-place finisher wins $15 and the third-place finisher wins $5. BKJK III-$21 is held on Saturday, where with a $21 entry fee players compete for a prize pool of $75. The winner gets a prize of $45, the second-place finisher wins $22.50 and the third-place finisher takes home $7.50.

In addition to those qualifiers, Rushmore Casino holds the BKJK III-$1000 Bowl of the Week qualifier every Sunday night. The players who qualified in the events on Monday, Thursday or Saturday can complete in this blackjack tournament for a share of the $1,000 prize pool. T who didn’t qualify can pay their way in with a $55 entry fee. In this blackjack tournament qualifier, the winner takes home $420, the second-place finisher wins $250, the third-place finisher wins $150, the fourth-place finisher gets $100 and the fifth-place finisher gets $80. Each of the top 5 finishers earns free entry into the Bowl of the Month.

The Bowl of the Month, called BKJK III-$2000, is held on the first Tuesday of every month. Though qualifiers from the weekly tournaments enter for free, anyone can join with a $99 entry fee. In the Bowl of the Month, blackjack players compete for a $2,000 prize pool. The winner earns $840, the second-place finisher earns $500, the third-place finisher wins $300, the fourth-place finisher wins $200 and the fifth-place finisher takes home $160.

The final event is the Blackjack Bowl $21,000. The event is held on February 4, 2010, 3 days before the Super Bowl in Miami. Players who qualified from the Bowl of the Month can enter for free. For everyone else, there is a $250 entry fee. There is a $21,000 prize pool that will be shared by the top 12 players.

With football season just underway, it’s a little early to look forward to the playoffs, but it’s not too early to get ready for Blackjack Bowl III. To enter, visit Rushmore Casino.