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An Interesting Thought

Here’s an interesting thought – the US government is currently seizing all of the US bank accounts that are associated with the processing of illegal online casino gambling transactions. This process has been going on for about six months now and the federal government has not budged on the early cases, despite numerous repeals of the warrant and pending court cases. The online casinos are furious that the government is taking the money and not even paying out the outstanding account balances of the gambling sites’ gamblers. Additionally though, if new legislation passes that legalizes internet gambling and regulates the entire US industry, will the US federal government return any of the seized funds?

The answer is likely no, at least not voluntarily. The funds were seized by court-issued warrants and were operating under the law of the time. That will not change now, all of those bank accounts, payment processing companies, and online casinos are still guilty of operating internet gambling in the US while there was a ban in place. The online casino sites are in a bit of a conundrum – what do they do now that they have no clear payment structure to access US gamblers. The easiest option is to use outside-of-the-box thinking to seek out some of the very alternative payment processing companies that are still using remote accounts and payment cards and other innovative methods to access US gamblers.

Even further though, it might be necessary that the online casinos truly stop operating in the US market until the new regulations pass through and internet gambling is regulated and licensed.