Home » Gaming and Casinos Articles » UIGEA Legislation Continues to Have Little Impact on Online Gambling
UIGEA Legislation Continues to Have Little Impact on Online Gambling
The June 1st deadline for the UIGEA unlawful Internet gambling enforcement act has come and gone, yet for online gamblers, and casino operators in the United States, it's business as usual.
TORONTO, ON, June 09, 2010 /Gaming and Casinos PR News/ -- As the implementation of of the UIGEA (Unlawful Internet Gambling Enforcement Act) came to fruition on June 1st, its effectiveness remains in question. The purpose of the law passed in 2006 and recently enacted was to hold financial institutions in the United States responsible for blocking transactions to and from online gambling websites. Players at online casinos, sports betting and online poker sites nervously anticipated the deadline and how it would affect their ability to deposit and play.
After the dust has settled and gamblers and operators have had a chance to see what the new playing field looks like, the outcome is that it is virtually the same. While most Visa and Mastercard issuers have already blocked online gambling transactions, the few laggards such as Netspend have used the June 1st deadline as their timeframe for complying with the law. Much to the chagrin of regulators this is only a small component of the puzzle.
The prominent means of depositing at online casinos and poker sites since 2006 has been through electronic checks, and electronic wallets and this industry has remained unaffected by the June 1st deadline. Electronic wallets are third party payment processors located overseas which provide payment to many different online services. Financial institutions have not blocked payments to these services as they services as they do not constitute an online gambling website as dictated in the law. There is still no effective restriction in place to stop players from depositing and playing at online casinos or poker rooms in the United States.
Based on reports from members at www.NoLuckNeeded.com, a popular online casino forum, the effect of the legislation has been mixed. Some players have watched the deadline approach and have stopped gambling online based on the heightened uncertainty of the industry. Others, however have had the law come into effect without them even realizing or impacting their online behaviors.
In July, United States House Representative Barney Frank plans on tabling the Internet Gambling Regulation and Tax Enforcement Act of 2010, H.R. 4976, which would regulate and tax Internet gambling. The output of this act would be a windfall of jobs and tax revenue in the United States, however insider experts do not expect this law to pass, at least not in 2010. As such, the legality and enforcement of the legality of online gambling in the United States is likely to remain in a state of uncertainty for the foreseeable future.
This press release is brought to you by NoLuckNeeded.com, home of the online casino bonus. NoLuckNeeded.com is dedicated to safe, legal, and responsible online gambling.
---
Press release service and press release distribution provided by http://www.24-7pressrelease.com |
|
|
Press Release Contact Information:
Joseph Ross
Joe Ross LTD
Marketing Manager
80 Cumberland St
Toronto, ON
Canada M5R 3V1
Voice: 4166188813
Website: Visit Our Website |
|
|
|
|
| GAMING AND CASINOS ARCHIVE SEARCH |
|
|
| |
| SUBMIT GAMING AND CASINOS NEWS |
|
|
| |
|
|
Advertise With Us |
About Us |
Contact Us