Slow, Slow Regulation
The United States has taken the slow track toward online casino gambling
regulations in the country. The UIGEA passed in late 2006 and over the past more
than three years the US market has been in a strong state of flux as gradual
changes were implemented and the foreign and offshore online casinos were forced
out of the marketplace. These changes though have only been partially supported
by the federal government. The US Department of Justice has begun to prosecute
payment processing companies that are allowing the internet gambling companies
access to US gamblers and thus has slowly changed the US market from an
inclusive market to one intolerant of all foreign competition where internet
gambling is concerned.
Just as slow as it has taken to implement the UIGEA and actually force the
online casinos out of the market this is also the case with pro-gambling
regulations. Congressman Barney Frank has been working on new internet gambling
regulations to usurp and repeal the UIGEA for the past three years and it is
only this year that Frank’s bill along with other pro-online casino gambling
bills have even made it to the floor of Congress for discussion.
The entire process surrounding the online casinos is just going quite slowly. It
has taken a lot of time to prevent the UIGEA regulations from fully affecting
the US gambling industry and that is not even counting the amount of lobbying
effort just to get political support for Barney Frank’s actions. The bottom line
is that the UIGEA passed in an instant as a midnight addition to must-pass
legislation and it has taken a very long time to undue that action. |