Uncategorized
It might sound odd but there are some people considering opening a casino is their next big career move. Of course things changed a lot due to the recent FBI crackdown on online gambling companies. A lot of people misunderstood what they were doing though. Since 2006 when the UIGEA was first put into place people have been sketchy on what exactly it meant for US gamblers. A lot of people believe immediately that the Bill made online gambling illegal and pulled out of the market accordingly. In actuality though this was not the case. The UIGEA, or Unlawful Internet Gambling Enforcement Act, actually made it illegal for financial institutions to take transactions relating to online gambling. Banks were suddenly given the responsibility of scrutinizing, flagging and eventually denying any transactions had to do with online gambling. The Bill was meant to push outs online gambling and “protect” the US gambler. Over the years though the Bill has shown its limitations and how inefficiently it was written. It’s taken a lot of criticism as of late due to the many problems that it has a lot of different legislators have been trying to amend it to make it work better for the US.
There were a lot of problems with the bill because of its limitations and lack of definition. Upon scrutiny, it was even found out that the Bill never even define what gambling truly was. Without the definitions, how could people be held accountable for breaking the laws? Some key legislators have tried to move in on the gambling market and change things but for the most part been put on hold. Individual state legislators in the US take it upon themselves to come up with gambling laws that work for those involved. Remember the gambling is $3-billion business and that means that legislators are going to continue to try to use it. There are few other options they have to bring in the same kind of dollars. People have made one thing clear in the US and beyond – the enjoying online gambling and are not going to stop doing it in the future. Of course lawmakers should understand this because prohibition has never worked. They tried with gambling and it’s been an epic failure for those involved.
Part two coming next.