Online Casinos Left Waiting…Still
Do you grow as weary of reading about the US’s ban on offshore online casinos as GambleCraft does? The fact is, the United States government is procrastinating on making a decision about the future of US internet gambling. The UIGEA should have never passed in the first place, it did not have widespread Congressional support, in fact, few even knew that it was added to the must-pass Safe Port Act back in 2006. Despite the fact that it was unethically rammed through into legislation, the US Department of Justice has continued to aggressively pursue any offshore payment processing companies and online casino sites still operating in the US market. Throughout the past year the supporters of a legislated and regulated internet gambling industry have actively hoped that Barney Frank’s UIGEA alternative legislation would find its way into the law before the last Congressional session of the year closed.
Now though, there is less hope as the UIGEA support regulations are pending full effect and this has sparked true controversy, yet again, throughout the global online casino gambling industry. A key factor acting against the implementation of these UIGEA support regulations is the objections from the US’s financial sectors. The UIGEA support regulations will put the bulk of enforcement right on the shoulders of the already over-taxed and crumbling US financial and banking sectors.
The mortgage crisis has barely passed, homes all over the United States are still in foreclosure, the credit card companies are even struggling to stay afloat in the tough economic conditions, and yet the UIGEA supporters are still calling for these flawed support regulations to come into effect so that there are more processes in place to block offshore online casinos and payment processing companies. It’s blatantly too much stress to put on the US financial sector at this point and the pro-UIGEA supporters need to wisen up or risk crumbling the delicately balancing US economic situation.