It’s been over two years now that the US has been debating online casino gambling. Many US players who wanted to play were turned away. Not just because casinos wouldn’t accept them, but also because the casinos that did accept them then had problems managing their winnings. Imagine winning a big jackpot, having the casino pay you, but then getting tripped up by your banking institution! It was not an easy time for online gamblers in the US who wanted to play games.
Most of the problems began back in 2006 with the creation of the UIGEA, or Unlawful Internet Gambling Enforcement Act. It was this act that was supposed to thwart gambling online for US players. The problem was that many other legal lottery-like activities were swept away with it. Banks became overly concerned and for fear of breaking the sketchy laws and incurring hefty fees, they decided to turn away all gambling-like activities. The UIGEA was actually the SAFE Port Act. The purpose was to prohibit transferring funds to internet gambling websites to from banks and other financial institutions. Though gambling was prohibited, racing, lotteries and fantasy sports boards were supposed to be legal. Again, because banks were afraid of being guilty of breaking the law, many swept these activities into the same pile as gambling and denied them.
In today’s world it is premier for legislators to find ways to manage gambling law properly. They are looking for ways to legalize gambling but avoid harming players. The reality is that making gambling illegal, which is what US legislators did in 2006, only caused people to move to offshore gambling websites for their wagering needs. This caused billions of dollars to be channeled out of the country. Now, US legislators are fully aware of the billions in tax-revenue dollars they are passing up by not finding codes that work with the economy. Many are working overtime to come up with the proper laws and controls that will allow US players to play and still contribute to the state coffers. Only time will tell how things will change, but most likely legalized gambling will be implemented throughout the entire US before the end of 2011.