UIGEA won’t kill online gambling
Posted by Carl Barnett on 11 Mar 2010 at 09:03
Not surprisingly, there has been an awful lot of crowing going on in recent times as regards the UIGEA that is due to arrive in June.
The bill that Barney Frank is trying to get pushed through will supposedly prevent the United States government from declaring online payments to and from casinos illegal.
Two more politicians have joined the fray, and the lobbying is becoming a multi-million dollar concern all of its own.
This means that when the law comes into effect, there will have been a massive amount of media coverage and argument about something that has divided the nation. The government surely must recognise the depth of feeling and meet a compromise.
One would hope so. What will probably happen is that the payments will be declared illegal, and then everyone will still process them anyway. There are millions of dollars at stake here. To shut down a business that could potentially bring in substantial tax revenues for the United States Fed in current economic times is at best questionable.
Testing times indeed, but the businesses will stay open. This is because they have far too much business going on in Europe and across the rest of world to give everything up.
