UIGEA Is Failing?

17 June 2008

This could be very good news indeed for the Online Gaming Industry. It is about time the US opens their eyes to a law that can never be put in place. The US has enough to worry about without trying to put in place a law that will never work.

The experts in the Gaming Industry are saying the UIGEA CANNOT be implemented. They are asking the US to get smart and join the rest of the world, and regulate the online gaming.

On Saturday a panel from the industry encouraged lawmakers to go with state regulated online gaming. They started by pointing out the downfalls of the 2006 UIGEA Bill.

The act says that banks are in charge of screening any transaction that looks dubious. They handle millions of transactions a day, so would make this impossible. Teruo Kitada, Senior council for Wells Fargo stated: “Perhaps the idea behind the act is commendable, but the challenge is the implementation.”

Frank Catania says the federal law is not equipped to regulate online gaming. He suggested that each state should do the regulating, by calling the act “bad public policy” that is not possible to enforce.

We all know it is going to be regulated, but we also know that this will not happen until after the election in November. Catania stated: “The online gaming market will continue to expand regardless of decision to regulate. Consumer demand and industry growth will force governments to act.”

Since Catania’s estimates the online gaming industry in the US is valued at over $15 million, it clearly needs a sound policy.

We will continue to keep you updated on this issue, and we look forward to the outcome. Remember to Pray and vote wisely in the November elections!!

Related News

  • 16 August 2010

    Is Online Gambling in Alberta Far Off?

    It seems the domino effect is going strong in North America as far as regulating online gambling is concerned.  British Columbia and Quebec already allow online gambling and Ontario will soon follow.  Now it seems Alberta is at least looking to follow in the same path. Online gambling is legal in Canada but operating a site within its borders is not.

    Read full article
  • 21 August 2007

    Belize placed on Britain's Blacklist

    Belize gets placed on Britain’s BlacklistBecause of its loose regulations, Belize has been put on Britain’s blacklist of nations that provide license for gambling web sites.A British based news agency, ‘Reuters’, reported this week that online gaming companies in Belize and other online gaming spots such as Costa Rica and the Netherlands Antilles, will not be allowed to advertise or promote their business in the United Kingdom beginning in September.

    Read full article
  • 27 April 2006

    eCOGRA Seals Help Poker Players Play it Safe

    New online poker room standards now in force across a range of top sites. (PRWEB) April 26, 2006 — Poker players across the world will now find the familiar eCOGRA “Play It Safe” seal on 7 more quality Internet poker sites belonging to some of the most successful and reliable online gaming groups in the business.

    Read full article