Hold off on those life boats for now. There may be a good piece of news for the online gamblers, should the courts prove that ‘the system’ does work.
With stipulations against banks preventing online gambling with credit cards, the court will have open ears to the reasons why the processes with the UIGEA should not continue.
The banking industry feels that the UIGEA represents an “Unfunded mandate” that will costs banks billions and are supportive of the injunction filing, sources close to Gambling911.com can reveal.
With a special focus on Internet gambling, which has lately been under severe attack by powerful lobbying groups and a select few politicians, iMEGA was founded in 2007 to promote the innovation and continued growth of the Internet.
“We seek constructive engagement with government at the Federal and State levels to ensure that the challenges of this still nascent medium are addressed with the full participation of the people and companies that have built the Internet into the powerful influence on society it has become,” the site reads.
This news update comes to you via Gambling911.com.
Let us all hope that our freedoms on the Internet will remain as they once were before the UIGEA was slipped into our lives. We may soon find out the answers to our Internet freedoms. Stay tuned in for more breaking news.
The Restoration of America's Wire Act is the product of Sheldon Adelson's campaign to end online gambling in the United States to protect his land-based casino empire. It hinges on changing the Wire Act from the 1960s, an act used to combat organized crime sports betting operations that took bets over the phone, to something it was never meant to be: a law that affects all forms of gambling on a piece of technology that wasn't even invented yet.
The Unlawful Internet Gambling Enforcement Act in the United States, known as the UIGEA for short, absolutely crippled the industry by attacking the financial transactions for the sites in a way that was very difficult for players to get around. Now the Russian government is showing a lot of support for a similar bill that will have banks facing stiff fines and other punishments for processing payments for illegal online gambling.
How This Bill Would Work
Daily fantasy sports has become the single fastest-growing segment of the online gambling industry in the United States over the past 12-18 months. Major sports teams have signed on to sponsor daily fantasy sports services, and so have major league and college sports leagues. This popularity isn't sitting well with everyone, and this includes the author of the UIGEA. Jim Leach has spoken out about this form of daily fantasy sports.
A "Cauldron" of Daily Betting