Online Casinos – The Laws Are Confusing

While the US passed the Unlawful Internet Gambling Enforcement Act (UIGEA) in 2006, it hasn’t stopped Americans from participating in online gambling, even though it outlawed internet gambling and limited the ability of financial institutions to pay score88 judi bola sites. Particularly, the UIGEA locations limitations on banks and credit card companies from transferring money for gambling.

The response of the global internet gambling community to the law was to demand online bettors to set up e-wallets as deposit accounts that are online. The e- wallets draft money from bank accounts, debit cards, and credit cards, and then route them to retailers including gambling sites. Since many e-wallet plans will not be based in the US, the money spent on internet gambling is taken outside of the US and thus outside of US regulation.

So, essentially, the UIGEA was that ineffective, because individuals who wished to gamble found means to do this. Following the UIGEA was signed into law, internet gambling sites set up at foreign sites and moved out of the US where online gambling is not controlled.

Because of the worldwide fiscal crisis that started in 2008, Congress is seriously reconsidering the UIGEA, because if internet gambling were legalized in the US, it may be controlled and could be a tremendous source of tax revenue – to the tune of $42 billion by the year 2020! A lot of these acknowledge the UIGEA isn’t likely to stop Americans from gambling online while many congressional representatives have moral objections to gambling in whatever form.

The political tide appears to be turning in favor of legalizing online gambling in the US, and it has been made by laws to that effect outside of the committee level in the House of Representatives. Yet, as of late 2010, it’s anyone’s guess as to when the laws could make it to a floor vote. Congressional elections in November 2010 tend to produce representatives shy away from any laws that’s seen as contentious, therefore it is not likely that anything will occur together with the laws until a new Congress is seated in 2011.

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