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It Hasn't Even Started Yet

One of the scariest parts of the United States’ policies on online casino gambling and the UIGEA and all of the controversial bans and blocks is that mere fact that enforcement of the UIGEA has not even really started yet. The Department of Justice has certainly been busy over the past nearly three years prosecuting offshore online casinos that accessed the US market after the UIGEA too effect, and there is no denying that this level of enforcement has taken place. But on the other hand, the actual teeth of the UIGEA, the blocking of financial transactions between the internet gambling sites and the US gamblers has not yet been implemented in the market.

The US online casino gambling industry is in quite a sorry state and has been for some time. The UIGEA is a highly flawed piece of legislation that runs the risk of putting a huge and insurmountable weight on the US financial system at a time when the financial companies and banks are already struggling. The whole of the UIGEA really centers on the blocking of the financial transaction between the online casinos and the US players – but yet how to effectively identify and block these transactions is a huge issue.

The latest information indicates that the regulations that have been in development for te past several years could take effect as soon as December unless Barney Frank and efforts by the online casino gambling industry are successful in repealing the UIGEA and passing new legislation that instead legalizes and regulates the industry. The December deadline is looming and this is quite scary to the supporters of an open and regulated US market- the Congressional discussion of Frank’s legislation is scheduled for the September and all hopes are really riding on this passing through.