Slots Gambling for US Casino Players
Gambling News – Nov. 12th, Colorado by Jean Real
The Bush administration motioned a law in 2006 called UIGEA (Unlawful Internet Gambling Enforcement Act) to make illegal certain types of online gambling for US citizens. This law is less than 3 weeks away from coming into full effect and all financial institutions that accept transactions for these illegitimate gambling sites must abandon these same transactions. What’s hotly debated today is the unfairness of the UIGEA which allows gambling to be done in horse racing sites, lottery sites and fantasy sports but restrict bets on Poker, Sport Books and Casinos.
Several politicians are against the UIGEA and are pleading for Congress to delay the deadline of this law which comes to a close on December 1st this year. Representative Jared Polis of Colorado has publicly stated the UIGEA was ill-conceived as it has not stopped online gambling in the USA, rather it has encouraged this industry to move offshore, and potentially entailing risks of fraud for US players. Since the companies that operate these gambling sites are outside the USA, the government has no jurisdiction and cannot punish any fraudulent activity.
The online gambling industry has been gaining force even after Bush’s administration passed the UIGEA. It is estimated that the US produces around $100 Billion bets annually. Supporters of online gambling state this it would be much more appropriate to regulate this industry within the US and tax it in order to gain a new considerable income for government programs.
US gamblers are unlikely to stop betting online after December 1st and this will leave a window open for those offshore companies to reel in money that could benefit the US people.
Although slot gambling is not the biggest target of the UIGEA, it is still not an ‘acceptable’ form of online betting. US players that enjoy playing slot machines online will have to find only reputable online casino sites that accept US players and process transactions securely and fairly. It is important to state that the UIGEA does not target US players in particular so that they would not be infringing the law by playing. Only the companies that provide financial resources for players to deposits and cash out at gambling sites will be at fault. The dilemma obviously lies in that these companies are outside the USA and thus the government cannot prosecute them.
The UIGEA is admittedly an incomplete and hasty law that was approved without much meditation. It is still to be seen if the Obama administration will take a different approach in this matter than did the Bush administration.
Regulating and taxing the online gambling industry would provide not only more budget for the US government but would also make gambling safer for the US public, as it would be monitored and controlled by US law.
