Online Gambling Enforcement Act Of 2006

1203 WordsOct 12, 20165 Pages
Back in 1996, the explosion of online casino gambling swept the world. The United States had been a large part of this, and many gamblers had turned to online casinos for all of their gaming. For many years, these casinos continued to be played unabated. Unfortunately, back in 2006, legislation was passed that made it slightly difficult for online casinos to continue to operate. This legislation, sneaked in by piggyback through the Safe Port Act, would be named the Unlawful Internet Gambling Enforcement Act, and it became a thorn in the side of the online gambler, the online casino, and all payment processors there in. The Unlawful Internet Gambling Enforcement Act of 2006, or the UIGEA, had, in a nutshell, prohibited banks and payment processors from processing transactions that would correlate to online gambling. This has not only complicated loading accounts, but also withdrawing. While USA online casinos have continued to operate, they have had to use payment processors that would circumvent these restrictions. Sadly, the UIGEA was not even set to go into effect until December of 2009, thought the implications of the legislation had fall out that would be nothing short of catastrophic for many online gambling companies, especially those that relied heavily on the United States market. The UIGEA had hamstrung many of the operations around the world that utilized the American market in order to stay ahead in profits, all the while keeping losses to a low. The
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