I am sure all the banks and financial institutes are awaiting the decision on this one. The big day is quickly approaching to start the implementing of the UIGEA rules. Representative Frank has put his attention back on this after all the other urgent matters that had to be put first.
Frank along with 18 others sent a formal letter of request to Timothy Geithner, the Treasury Secretary and to Ben Bernanke, the Federal Reserve Chairman. The PPA along with the National Thoroughbred Racing Association and the American Greyhound Track Operators had sent a similar request to the same people.
The PPA asks them to use the Administrative Procedure Act to delay the UIGEA rules from being implemented until December 1st 2010. As this would give the ones that oppose the rules time to argue this without having a deadline of six weeks.
Franks aurgues that the rules came into affect on January 19th 2009, just a day before President Obama, took over the office as President.
He sated this and I quote: “We realize this is not a task you requested. We also believe this is an unreasonable burden on regulators and the financial services industry at a time of economic crisis, and it contradicts the stated intent of the Financial Services Committee.”
Representative Frank is pursuing this with aggression as the deadline approaches!
Let’s all stand behind him in this matter and help to get the delay, so we can use our freedom to play online in our own homes without being afraid of prosecution!
Premium casino content provider, Red Rake Gaming (RRG), struck a partnership deal with the industry-leading operator, Hero Gaming Group. Via this agreement, the operator will be providing on its sites the developer’s full portfolio of games.
From its foundation in 2013, Hero is following its vision to redefine online casinos and create superb experiences for players.
Groove Gaming (GG) has extended its list of partners by joining forces with Rival Gaming. The strategic content distribution deal will bring plenty of benefits to consumers, who will have access to a generous range of various releases.
Groove has built an industry-coveted diverse portfolio of proprietary and 3rd-party HTML5 video slots and table games as well as over 2500 casino games together with the biggest lotto, video bingo, live games, virtual sports, table games, and sportsbook.
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