While most people in their right minds are greatly dismayed by the recent developments in regard to the rules put in place to regulate the Unlawful Internet Gambling Enforcement Act, some people are actually celebrating the outcome. Analysts have pointed out, however, that all the Treasury Department has succeeded in doing by moving forward with this measure is to further confuse the American people.

What exactly is and isn’t considered to be illegal gambling is still in question. The only thing accomplished through this final rule is to give financial institutions an out. With the new rules in place, banks are basically required to make their customers sign as a portion of their terms and conditions that they are not going to be engaged in an online gambling activity. And although this will do absolutely nothing in terms of putting an end to or even remotely curbing online gambling, many anti-gambling groups are rejoicing, considering this development to be a great victory.

A representative from Focus on the Family Action has called this victory a special victory for families after a decade-long battle that has finally come to completion. Well, sure, but they seem to be forgetting that it is still not illegal for people to gamble online. While many legislators believe that this is the ultimate answer in regard to helping and preserving American families but most people think that is entirely misguided.

If it were to be regulated, the online gambling industry would bring millions or perhaps even billions of dollars into the American economy at a time when it is in great need of revitalization. Think about it, people! That would certainly help American families.

Tags: online gambling industry, regulations, UIGEA

This entry was posted on Tuesday, November 18th, 2008 at 1:28 am and is filed under Online Gambling. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.