US Gambling Sites
JACKSONVILLE BEACH, FL, April 18, 2010
/24-7PressRelease/ -- US online gambling continues to thrive since the passage of the Unlawful Internet Gambling Enforcement Act (UIGEA). There have been many changes to the industry as legal battles ensue while some states have made several attempts to regulate and even stop
US gambling sites from operating. There is one thing that
www.gamblingsites.net makes clear, despite much confusion regarding the UIGEA, it did not change the legality of online gambling.
US Gambling Sites
There were some major players that left the US gambling market after the passage of the UIGEA, but many more stayed. The sites that stayed read the UIGEA and understood that it only created obstacles for depositing. Moreover, they realized that the bill was not to come into full effect until December 2009. These companies apparently felt it was worth the business and legal risk to continue to serve the US market. Some of the more popular US gambling sites are:
Full Tilt Poker,
Rushmore (casino) and
Sportsbook (sports betting, casino and poker).
UIGEA Update
The UIGEA was originally slated to become fully enforced as of December 2009, however, a motion passed that postponed the implementation of this bill for 6 months. The reason for the postponement was because the UIGEA is going to create higher costs to financial institutions as a result of compliance. Given the state of the economy and the fragile state of many of the financial institutions, there were enough who agreed the implementation should be postponed for a later date than the motion passed. However, the new compliance deadline of June 1, 2010 is fast approaching. Many are optimistic that it will be delayed once again; however it is difficult to know.
There are some major complaints regarding the UIGEA. Some complain that the bill is simply too onerous and ambiguous which makes compliance very difficult and costly. Some international trade groups have even filed lawsuits claiming that the UIGEA goes against international trade agreements. The hope from the US online gambling industry is that either the language is clarified or even better, the bill is repealed altogether.
Given the budget difficulties of the US government, there is some speculation and even efforts to implement legislation that would repeal the UIGEA and even go further to regulate and tax the industry. There are a few bills which have been proposed which address the UIGEA, HR 2266 and HR 2267. However, how these bills are going to be received is still undetermined. Regardless, many expect that the UIGEA will come into effect on June 1, 2010.
US Gambling Depositing
The largest affect that the UIGEA had on the industry was regarding depositing. Credit card companies began to follow some of the UIGEA mandates which made it illegal for financial companies to knowingly allow gambling deposits. As a result credit card deposits became more difficult. US gambling sites found a way to improve credit card acceptance rates and some sites including
Sportsbook and
Rushmore remain some of the leaders in credit card acceptance rates. In addition, there were many depositing alternatives that became much more popular such as ewallets and echecks.
www.GamblingSites.net will continue to follow the UIGEA and US gambling news as the deadline is fast approaching.
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