Online Casinos Successfully Banned in the US
The current situation of online gambling in the US is pretty difficult. Especially, as the top advocate of the US’s anti-online casino gambling legislation, Spencer Bachus, has just openly proclaimed that he will put a lot of effort to not let the subject vanish in the incoming administration. In fact, online gambling industry seems to had lost the good opportunity to neutralize some of the most harmful effects of the controversial Unlawful Internet Gambling Enforcement Act (UIGEA) with the passage last month of the UIGEA regulations. In fact, very alike to the UIGEA itself, the support regulations were passed through as a so called “midnight drop.” A must-pass security bill with an 11th hour addition, what can be more familiar to the UIGEA itself. What is more, what can be more unpleasant for the whole online casinos and internet gambling industry if not the fact that only few members of Congress actually knew that such an addition had been made. Of course, as the whole matter was the same with the UIGEA the financial services sector is very unpleased with the fact and again very loudly is proclaiming against the regulations.
However, regardless to all of the voices against, Bachus is still standing by his actions and the fact that the regulations passed regardless of objection to their first draft. What is more, Bachus openly admit that not only he is not sorry for the method of passing the UIGEA regulations, but he proclime he plans to take some steps according to question should the Democrats in the Obama administration make any further attempts.
However the truth is that there are some big worries concerning the fact that the regulations may potentially be harmful to the already poorly financial services sector. Everybody knows that the US financial service sector have already been struggling to get better after the finance crisis in the whole US. In fact, while taking a close look at the new passed regulations, it can be easily seen that they are very unclear in their description of illegal internet gambling itself.
What can be more misleading than a law that does not strictly says what is illegal? The truth is that in the new regulations no information are given as to specifically what exactly types of online casinos are banned and said to be illegal. The whole nightmare for the whole banking industry is connecting with the fact that Bachus wants to make the financial industry responsible for the decision which types of gambling are deemed illegal and which casinos should be banned, due to this potential extra obligations, banks in the US all together say ‘no!’ .
