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Protection for the Online Casinos

Internet gambling has gotten a bad rap in the United States – and for good reason if you ask most of the foreign online casinos. The U.S. government has passed the highly controversial UIGEA – a flawed piece of legislation that blocks U.S. banks from processing financial transactions with offshore online casino gambling companies. In addition to the UIGEA, the government has slowly begun to prosecute these offshore internet gambling companies for their pre-UIGEA activities in the U.S. market. While some politicians and Congressmen are attempting to neutralize the UIGEA and pass new legislation that would legalize and regulate the industry, Representative Pete Sessions has thrown a new bill into the mix.

The UIGEA Clarification Act, HR6663 is designed and written as an accompaniment to the UIGEA and intended to specifically outline that online casinos operating in the U.S. prior to the UIGEA are safe from any legal action from the U.S. government. Some companies, like Neteller, will not and would not have benefitted from Sessions’ bill because it specifically deals with the online casino gambling companies that fully pulled out of the U.S. market on or before October 13, 2006 – the date that the UIGEA formally came into effect.

Other foreign online casino gambling companies though have encountered some lasting issues with the U.S. government, and passage of the UIGEA Clarification Act will exonerate those companies for their actions prior to the UIGEA.

There is no telling what kind of support will back this bill – Congressman Barney Frank is a huge supporter of legalizing and regulating the online casino gambling industry yet his proposed legislation has yet to pass.