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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.

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