In a last minute development, it seems that the Unlawful Internet Gambling Enforcement Act implementation, planned to come into force in December 1st, has been delayed for 6 months.
The official announcement has not been done yet, but reliable sources claim that the decision has already been taken by Timothy Geitner, US Treasury Secretary and Ben Bernanke, the Federal Reserve Chairman.
This decision came after a long and hard struggle, in which gambling associations, lead by the Poker Players Alliance, worked, along side politicians to postpone the UIGEA implementation.
It also came shortly before the House Financial Services Committee was to conduct a hearing on two proposals fighting the UIGEA implementation. The proposals were introduced to the Congress by Rep. Barney Frank, who is a long time supporter of the legalization of online gambling. Proposal HR 2266 is aimed at postponing the UIGEA for 1 year. Proposal HR2267 – is aimed at the legalization and legislation of online gambling.
The UIGEA, Unlawful Internet Gambling Enforcement Act was passed in 2006 with the goal of preventing online gambling in the USA. It prohibits financial institutions from transferring funds to gambling operators. It has already been partially implemented, but its enforcement was scheduled to begin Dec 1st.
Many online Gambling Corporations did not wait until the bill’s enforcement and ceased their operation in the US immediately after the bill was passed while others decided to continue their operations, and wait for its enforcement. No doubt that the extension will benefit the corporation still active in the lucrative US.
