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Processing Bans for Online Casinos

The United States government is looking to pass and implement to payment processing rules that would strengthen the UIGEA and take effect on December 1, 2009. The UIGEA specifically bans the financial transactions between online casinos and US players, but there legislation is highly flawed and there is a concern that the ambiguous nature of the current rules facing implementation would stress an already sagging US economy. Many foreign online casino gambling sites are still operating in the US market and offering all forms of gambling from betting to poker to the US gamblers. The proposed UIGEA rules though would clear up the precise method that the US financial institutions are supposed to take to effectively block gambling transactions.

The unclear and imprecise nature of the UIGEA and any support regulations and rules has always been a chief concern among the UIGEA’s numerous detractors. All of the enforcement power of the UGIEA lies in the identification of illegal online casino gambling versus those companies that have carve-outs in place and are still allowed to offer services in the US market. If the new rules take effect on December 1st the US financial institutions will be forced to spend a lot of manpower to debate just how to implement the new blocks.

Additionally, there are concerns about stressing out the financial institutions with these rules because the US government has *still* never clearly defined just what the UIGEA means when it mentions “illegal internet gambling.” This certainly applies to the offshore online casinos but there are some who would claim that internet poker is legal as are other niche sectors of the gambling industry.