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A Little Recap: 2

The online casinos and all foreign-run internet gambling companies were put on edge and a majority of the companies pulled out of the market. At this point, there were a handful of companies that really didn’t quite believe that the UIGEA was actually enforceable, or perhaps didn’t think that the US government would seriously break US trade agreements enough to prosecute those companies still operating in the market. The UIGEA was interesting in that it holds no actual repercussions for the Americans that find a way to gamble. Instead, the UIGEA actually focuses on the financial transactions between the US gamblers, the payment processors and the internet casinos.

Specifically, the UIGEA is designed to stop the financial transactions. One of the key problems that the government ran into almost immediately however was a lack of support regulations. The UIGEA support regulations were supposed to pass through in roughly six months – it took roughly two years for the controversial regulations to pass. And once again, the Republican politicians passed the regulations through in much the same manner that they had the first regulations – as a rushed midnight addition to the Bush Administration policies before the Obama Administration came into office.

Again, this midnight legislation had a pretty profoundly negative effect on the online casinos –they had more ambiguous legislation and regulations that really make very little sense on the whole. But that didn’t seem to matter to the Republicans pushing through the flawed regulations, the important point was done –the regulations were passed and internet gambling sites had one more block against them in the US market.