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The Three Saviors: 1

There are three proposals currently sitting in Congress that could really have a profound affect on the online casino gambling industry in the United States. These three proposals are all distinct and designed with the idea of neutralizing some part of the controversial UIGEA. The UIGEA blocks offshore online casinos from processing transactions with US players and several interest groups and members of Congress have been looking for loopholes and new legislation that would limit the reach of the UIGEA, and in the long run actually fully neutralize or repeal this flawed and controversial legislation that passed through as a midnight addition to a must pass bill over two years ago.

Now that the full affects of the UIGEA have been felt by the domestic and foreign online casinos and gambling companies there are a lot of individuals with a vested interest in bringing about some change in this legislation. Right now there are three main bills that will likely just be resubmitted at the next Congressional session for consideration by Congress.

Barney Frank has proposed the Payment Systems Protections Act – a bill that is designed to halt the passage of the UIGEA enforcement regulations. Frank’s bill is designed to force the US government to clearly define the meaning of “illegal internet gambling” – this is a key concern considering many foreign online casinos, along with the US banking industry, are clearly baffled by just what the UIGEA means by the term “illegal internet gambling.” Because there are carve-outs for specific forms of internet betting and the other specific activities, the legislation is flat out ambiguous and thus flawed.