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Supporting Money Laundering

The United States is in a bit of a bind with the implementation of the highly flawed UIGEA, a piece of legislation that bans the financial transactions between offshore online casinos and US gamblers. The legislation has been steadfastly supported by many politicians under the guise of protecting the US population from money laundering, addictive gambling, and other societal ills associated with the internet gambling industry. The only problem? The US legislation is actually more likely to increase the incidence of money laundering in the US, rather than prevent illegal money activities. The online casinos accessing the US gamblers are still largely scrupulous, but the payment processing options are becoming slim and US gamblers are more likely to seek out shady payment processing companies to fund their gambling accounts.

Essentially, the crux of the dilemma facing the US right now is the fact that with the UIGEA in place the US government actually has very little regulatory control over the online casinos and payment processing companies that are still finding ways to access US gamblers. The companies have been forced underground on a black market of sorts, and the US gamblers are willing to take some risks if it means accessing the online casino gambling sites. The companies that are beginning to target the US gambling industry are not as reputable as the companies previously operating in the US market and those operating in the European market.

Shadier companies are now in use and the reputable processors have been, literally, forced out of the market. The online casino gambling industry is not going anywhere any time soon and all the US has created is a highly unregulated market where illegal activities like money laundering are much more likely to flourish.