• BUSH EXPECTED TO SIGN SAFE PORT ACT WITH BAN ON ONLINE GAMBLING RIDER THIS WEEK

    02 October 2006

    Newspaper

    Yahoo News

    Mon Oct 2, 10:21 AM ET

    WASHINGTON (AFP) – US President George W. Bush this week is expected to sign a bill making it harder to place bets on the Internet, a practice which already is illegal in the United States.

    Bush was expected to act quickly after Congress approved the Unlawful Internet Gambling Enforcement Act making it illegal for financial institutions and credit card companies to process payments to settle Internet bets. It also created stiff penalties for online wagers.

    Billions of dollars are wagered online each year and the United States is considered the biggest market.

    “It is extraordinary how many American families have been touched by large losses from Internet gambling,” said US Representative Jim Leach (news, bio, voting record), the bill’s main sponsor in the House, in a statement after its passage early Saturday.

    The bill’s chief Senate sponsor was conservative Republican Jon Kyl, who, like Leach, has said he believed Internet gambling was a moral threat. He has called online betting as the Internet version of crack cocaine.

    “Gambling can be highly addictive, especially when its done over an unregulated environment such as the Internet” he said this year.

    “If Congress had not acted, gamblers would soon be able to place bets not just from home computers, but from their cell phones while they drive home from work or their Blackberries as they wait in line at the movies,” Leach said.

    The US Treasury Department and the Federal Reserve Board will jointly develop implementing rules for the new law, while financial institutions have nine months to incorporate its provision.

    Related News

    • Softswiss agrees with push gaming

      Gambling News

      SoftSwiss Marks Agreement with Push GamingIvan Stefanovic15 February 2021

      SoftSwiss, a sports betting and video game software provider, has signed a partnership with popular slot developer, Push Gaming. Through direct integration with the licensed platform from Push, its partner will gain the developer's portfolio, including its latest game Wheel of Wonders and additional titles that will be released in the coming months such as Land of Zenith and Dinopolis.

      Read full article
    • Isoftbet strengthens its position on italian market

      Gambling News

      iSoftBet Strengthens its Position in Italian MarketIvan Stefanovic01 February 2021

      iSoftBet, a leading casino provider in the iGaming industry, has inked a global agreement with Italian provider, SignorBet, to integrate its exclusive and most popular online slots games. The popular operator in the Italian gambling market will deliver its clients the most popular games such as Gold Digger and Aztec Gold Megaways. The provider’s portfolio keeps developing and the recent success of Mighty Stallion Hold & Win has been added to its new partner’s online casino offer.

      Read full article
    • Playson recently started partnership with sportingtech

      Gambling News

      Playson Begins Partnership with SportingtechIvan Stefanovic08 January 2021

      Casino provider, Playson, recently entered into a content and partnership agreement with casino operator Sportingtech. This association will strengthen the presence of both casino software providers in Europe and their presence in the market online iGaming industry. The companies will operate with a Maltese Gambling Authority license and Sportingtech's multi-channel gaming platform will provide players with a variety of content available from the provider.

      Read full article