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May 28th, 2010 – by Glen Farmer
While many of us will be paying our rents and mortgages on June 1st, an event of significant importance is also set to take place in the world of online gambling – the Unlawful Internet Gambling Enforcement Act.
In a nut shell, the Unlawful Internet Gambling Enforcement Act, or the UIGEA, states that no financial institution, a bank or otherwise, may process the payments of funds into online gambling sites. The UIGEA would enforce punishments against those institutions who would ignore this legislation, while the player would be exempt from any legal action.
Under the Unlawful Internet Gambling Enforcement Act, players do not face any legal trouble. Though the federal legislation makes online gambling illegal only for those operating the business and the people who actually transmit the money into the gambling sites. Some states do have laws making online gambling a technical illegality.
The biggest fear that players have is that of being able to deposit into their accounts. By attempting to sever the financial arm of the online gambling industry, the federal government is aiming to prevent online gambling on a whole.
Other tactics the Department of Justice has been using to prevent online gambling in the United States without an outright ban and threat of arrest toward the players is the scare tactics against the operators of online gambling. With payment processors such as Douglas Rennick and operators such as Gary Kaplan being punished for their involvement in the industry, other names in the industry have either pulled out of the United States market or gone through greater lengths to hide the purpose of the different transactions.
Interest groups and legislators alike are working toward the repeal of the UIGEA, as well as the creation of a regulatory body for online gambling, though progress has been slow at best. Unfortunately, the UIGEA will not be repealed until after the law goes into effect, if it is to be repealed. The hope for a regulatory body for online gambling, as well as a taxed and legal industry, are still hopes on the horizon.
The different USA online gambling sites are still going to provide the same level of gaming that had been offered prior to the inception of the UIGEA. While some players are fearful of the UIGEA’s implications, most players firm in the fact that nothing will happen other than a puff of hot air.
Written by: Glen on May 28, 2010.
Source
While many of us will be paying our rents and mortgages on June 1st, an event of significant importance is also set to take place in the world of online gambling – the Unlawful Internet Gambling Enforcement Act.
In a nut shell, the Unlawful Internet Gambling Enforcement Act, or the UIGEA, states that no financial institution, a bank or otherwise, may process the payments of funds into online gambling sites. The UIGEA would enforce punishments against those institutions who would ignore this legislation, while the player would be exempt from any legal action.
Under the Unlawful Internet Gambling Enforcement Act, players do not face any legal trouble. Though the federal legislation makes online gambling illegal only for those operating the business and the people who actually transmit the money into the gambling sites. Some states do have laws making online gambling a technical illegality.
The biggest fear that players have is that of being able to deposit into their accounts. By attempting to sever the financial arm of the online gambling industry, the federal government is aiming to prevent online gambling on a whole.
Other tactics the Department of Justice has been using to prevent online gambling in the United States without an outright ban and threat of arrest toward the players is the scare tactics against the operators of online gambling. With payment processors such as Douglas Rennick and operators such as Gary Kaplan being punished for their involvement in the industry, other names in the industry have either pulled out of the United States market or gone through greater lengths to hide the purpose of the different transactions.
Interest groups and legislators alike are working toward the repeal of the UIGEA, as well as the creation of a regulatory body for online gambling, though progress has been slow at best. Unfortunately, the UIGEA will not be repealed until after the law goes into effect, if it is to be repealed. The hope for a regulatory body for online gambling, as well as a taxed and legal industry, are still hopes on the horizon.
The different USA online gambling sites are still going to provide the same level of gaming that had been offered prior to the inception of the UIGEA. While some players are fearful of the UIGEA’s implications, most players firm in the fact that nothing will happen other than a puff of hot air.
Written by: Glen on May 28, 2010.
Source
Hey Now!!