First long as it has existed in the minds of legislators in the United States government, the UIGEA has been a bane to the existence of online casinos and operators and players alike. Now this terrible and highly ineffective and unenforceable law has finally gone into effect. Its main aim is to prohibit financial institutions like banks and credit card companies from transferring funds to online casino and poker operations. This legislation has had a hot highly controversial history so far. It was past all the way back in 2006 and it has been the topic of much debate in chat rooms and Congressional hearings for quite some time.

One of the most controversial aspects about this particular piece of legislation that aims to curb activity at online casinos is that it places all of the responsibility and accountability on banks. Banks are supposed to be the ones in charge of recognizing where the payments are going and they will be sanctioned if they are found to be out of compliance with how the legislation is set up.

No person engaged in the business of betting or wagering should knowingly except unlawful Internet gambling credit in any form as set forth in federal regulation. For Internet casino gamblers and America, this definitely comes as quite a downer, but there is hope for the future. Several different Congressional representatives have come forward with alternative solutions in the form of promising legislation that aims to legalize and regulate and license and tax Internet casinos in the United States.

Tags: online casino laws in u.s., UIGEA

This entry was posted on Thursday, June 10th, 2010 at 11:13 pm and is filed under Online Casino. 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.