internet gambling a now being held.
Just over 2 years have passed since the Unlawful Internet Gambling Enforcement Act (UIGEA) was passed in the USA, and legal battles over its effective banning of internet gambling in the States have simply raged ever since. From the moment it was first suggested, the efficacy of the UIGEA has been questioned, with many of its loop-holes and faults being revealed in the process. Now, even government officials have realized its problematic nature, and serious talks over a complete law reform regarding internet gambling a now being held.
The UIGEA was designed to prohibit internet gambling by restricting financial institutions such as banks and credit cards from doing business transactions with online gambling websites. However, many aspects of the law were left either undefined or disregarded, such that much confusion was caused to the actual institutions. For example, the UIGEA did not define what kind of transactions were considered illegal, nor did it differentiate between different forms of internet gambling.
Furthermore, the UIGEA also considered foreign-based internet gambling websites to be in breach of US laws by providing their services to US customers, which EU courts recently ruled was in violation of World Trade Organization rules. Aside from causing many companies and legislations significant damages as a result, such as those filed by the island of Antigua, the USA has also failed to comply with the reprimands of the hearings.
Congressman Barney Frank has been pushing for a legal reform for internet gambling since the UIGEA’s inception, proposing a regulated environment that could balance between government and public interest, as well as bring in significant revenues to the country. Finally, his voice is being heard.