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UIGEA Regulations go into effect
Posted: 21 January 2009 10:16 PM   [ Ignore ]
Jacob
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UIGEA Regulations went into affect in the United States on Monday despite the serious objections and concerns voiced by financial institutions, card players, and online gambling enthusiasts. Passed in 2006, but unenforced up until this point, the regulations make it illegal for financial institutions to process online gambling transactions. Banks, credit card companies, wire transfer locations, and other financial institutions have until December 1st, 2009 to comply with the regulations. The regulations, meant to target financial institutions and online gambling sites and not players, will make it more difficult for US players to deposit at online casinos. No longer will they be able to fund their gambling accounts with their VISA or MasterCards, or send funds from their bank accounts, discouraging new hobbyist players. Critics have been quick to point out that funding online casinos has been difficult for some time now and that it has done very little to discourage online gambling.

More reading:
UIGEA burdens Credit Card companies


Wikipedia Entry


Treasury Dept. Final UIGEA Regulations (.pdf)

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Posted: 22 January 2009 11:06 AM   [ Ignore ]   [ # 1 ]
pokerbabe
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There has been a lot of talk and speculation that the Obama administration will be more open to online gambling and reverse the last minute regulations that Bush put through.  I’m not sure that will happen or at least not right away.  The attorney general has already stated there is no intentions of changing it.

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Posted: 22 January 2009 12:58 PM   [ Ignore ]   [ # 2 ]
ShawnS
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I’ve read some of the speculation but I think time will be the deciding factor. Maybe nothing will be changed initially but a year from now it might be different. I doubt this is a top priority on the new president’s list of things to change in the country, if you know what I mean.

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Posted: 22 January 2009 05:39 PM   [ Ignore ]   [ # 3 ]
mikeaz
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Joined  2009-01-06
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This bothers me on many notes, the first being that while this is something huge to many players there are far more things that need the new presidents attention, but also at the same time this has been off and on for years and needs an end put to it. Who is going to be responsible now of all $ places are under this “no no” law??

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