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January, 2009
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  Blog Category - Online Casino
The New Law and Online Poker

The Unlawful Internet Gambling Enforcement Act, which was passed by both the House and the Senate on September 30, 2006 will affect many best online casino poker rooms, as well as other forms of gambling.  The new law, if signed by President Bush who indicated he will sign it within the new two weeks, will block financial transactions between foreign bingo gambling companies and U.S. customers. The U.S. Treasury has 270 days to write the new regulations so the law would not go into effect immediately. Since most of the major credit card companies will not allow a charge for online gambling and haven’t for quite a while, it is not sure what effect the law will have.

What does this mean for online poker?  Reactions have been mixed. Some say they will end their businesses in the United States, others say the new law will not affect them. Party Gaming has said they will sever U.S. internet bingo players from real money games if the bill is signed. Full Tilt Poker says they don’t plan to do anything since they and their customers will not be affected by the legislation. Many have said that they are studying the situation especially since it will probably be nine months before the regulations are written. And in that amount of time, some one will probably devise another mechanism for payments.  NeTeller came into being to handle payments to gambling companies. They are not sure of their future in the United States.

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