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Issue Date: Vol. 50, No. 6, June 2010, Posted On: 6/4/2010


U.S. Ban On Internet Gambling Finally Takes Effect


N. Montano
nick@vendingtimes.net
Unlawful Internet Gambling Enforcement Act, internet gambling, internet gaming, Internet Gambling Regulation, Consumer Protection and Enforcement Act, Barney Frank

WASHINGTON -- The Unlawful Internet Gambling Enforcement Act became the law of the land on June 1, four years after Congress passed the measure and President George W. Bush signed it.

The law forbids American banks from transferring funds to online casinos that are not licensed in the U.S. and that operate through offshore servers. But some of the most popular online gambling sites said they did not expect their businesses to be materially affected by the UIGEA. Consumers can easily use their U.S. bank debit cards to make deposits to "front" companies in order to evade banking restrictions and gamble on offshore Internet casinos, experts said.

Meanwhile, Rep. Barney Frank (D-MA) said the House Financial Services Committee will hold the next round of hearings in July to mark up his bill HR 2267, the Internet Gambling Regulation, Consumer Protection and Enforcement Act, which would legalize Internet gambling. Frank chairs the committee.


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