State of the Union: Online Casino Edition
As the United States leaps full force into the new year, the healthcare reform
bills and economic issues have taken precedence on the floor of Congress.
President Obama delivered a solid State of the Union address last month and,
similarly, it’s high time that we take a brief moment to look at the online
casino gambling industry and observe just what has happened in the past year as
well as where it is headed. The online casinos are prevalent in the US market
right now despite a federal ban on illegal offshore gambling and betting
activity. Several key politicians are pushing the internet gambling issue, but
to no avail because of the other weighty issues on the table.
The online casinos in the US are in a limbo of sorts. While it is outright
illegal for a foreign gambling company to offer chance gaming and even internet
poker, this activity is still happening a lot and all over the US. About a dozen
internet gambling sites offer online casino gambling to US citizens as they have
found ways to circumvent the weak enforcement measures in place. The only
current enforcement policies that exist are the a general ban on US banks and
credit card companies processing transactions with foreign gambling companies –
it has been a most ineffective policy that is likely to be reinforced by new
regulations that are scheduled to take full effect in June.
There is a lot of international outcry right now over the US’ continued
enforcement of the controversial UIGEA legislation. Several US states are
considering the legalization of intrastate online casino gambling – if this
passes and starts to operate the US will have a whole new situation on its hands
as foreign companies demand and push into the US market as a part of
international trade agreements.
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