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Pushing for Online Casinos Ban Repeal

The controversial U.S. Unlawful Internet Gambling Enforcement Act (UIGEA) has another opponent – the Competitive Enterprise Institute. The U.S. government released preliminary regulations that were intended to give the UIGEA teeth to actually be enforceable in the U.S. But what the Institute is now asserting is that the UIGEA was flawed from inception and is actually not even specifically targeted at the nation’s online casinos gambling industry, but rather focused on the U.S. financial institutions and banking system.

For the get-go online casinos gambling proponents noted that regulations in support of the UIGEA would only place undue burdens on the U.S. banks; and at a time when the U.S. financial industries are already taxed because of the U.S. mortgage and foreclosure crises. Senior Fellow Eli Lehrer is the author of the study Time to Fold the Unlawful Internet Gambling Enforcement Act, and Lehrer has asserted that regulatory enforcement of the UIGEA could have extremely negative effects on the banks and financial institutions rather than the online casinos gambling industry. Lehrer notes, the “UIGEA and its currently proposed enabling regulations will undermine the financial privacy of all Americans and reduce the security of their bank accounts. In short, it makes almost no financial, social, or economic sense.”

For that reason, the Institute, as well as Lehrer and countless other online casinos gambling proponents are pushing for Congress to repeal the UIGEA rather than waiting for new replacement legislation to pass through all the necessary steps. Considering the extremely negative effect on the banking industries and actually limited effect on stopping internet gambling, there is definitely at least a case to be made for the repealing of the UIGEA.