UIGEA Set To Go Into Effect Tuesday
31 May 2010
UIGEA, the Unlawful Internet gambling Enforcement Act, goes into effect on Tuesday, leaving many players wondering just how it will affect the way they gamble online.
UIGEA was passed back in 2006, and since then, many lawmakers have been learned much about internet gambling and have changed their stance concerning UIGEA.
Under UIGEA’s provisions, the banks are charged with policing internet gambling. The banks will be required to check each and every financial transaction coming into their bank and check to see if it is related to internet gambling. If it is, the banks will be required to block that transaction. But many sites use coding which the banks may not recognize and so may not block that transaction.
Steve Schwartz, gaming Analyst, stated: “I don’t think much will change for US online casino players because their transactions are currently being coded to throw off the banks, and that will continue even with the new law in place”.
Though MasterCard is already blocking gambling transactions, many players still use their MasterCard to fund their accounts, thanks to the different codes many sites use to get around the banks.
There is also the controversy growing between the government and the gamblers in the US. Many people, like Steve Schwarz, see this as a possible reason why Barney Frank’s bills to legalize and regulate internet gambling have not been pushed as of yet. Schwartz says : “If Frank allows American gamblers to simmer over the UIGEA, it may mean more votes in November for Democrats who are in favor of having the freedom to gamble online….On the other hand, delaying any debate on the issue would also keep certain legislators from having to face scrutiny over their stance during the campaign season.”
UIGEA, set to go into effect on Tuesday, has been delayed once, for 6 months. That postponement ends on Tuesday. Though many want to try to delay it again, there appears to be an agreement among many not to delay it again.
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