There is a grand rush right now for states in the US to get their feet wet with online gambling legalization. It is a question that has been on the table for years now. How can the US come to adopt a regulatory bill that will make the most of online gambling but still is protective of gamblers? It all began with the UIGEA, or Unlawful Internet Gambling Enforcement Act of 2006. This was a bill originally built to shut out online gambling and make it illegal for banks to take transactions directly related to gambling from customers. This was supposed to change the world with its protective nature and make people stop online gambling as a whole. In the end though, it was short-sighted and never accomplished what it was supposed to. It put the responsibility of checking all transaction’s origins to make sure they were not from gambling companies or for gambling purposes. If they were, it was the bank’s duty to then deny them. If they didn’t, then they would be liable for hefty fines from the government. This is what was scaring the financial institutions into keeping dutiful to the legal precepts written by the UIGEA. It took some time, but financial institutions bucked up against the rules verbally, though not with their actions.
Now that legislators realize that the UIGEA did little but pushed players to use online gambling companies from out of the country, they are trying to rework the laws. They want to take advantage of the huge dollars that were fueled out of the country for years thanks to the UIGEA. The one thing that legislators are realizing is that prohibition doesn’t work and never did. This is why they are trying to now take advantage of how eager US citizens are to wager online with a new law that opens the door for it. How it happens though has yet to be seen. There are a few states actively pursuing the right legislation to make it all happen and they are in a race to make it work. Nevada, New Jersey and Pennsylvania are taking the helm, but you can expect that more states are going to be coming into the mix when they realize how much of a financial benefit it would allot them.