“Why don’t the enforcers just establish a regulatory commission, tax the site proprietors and everyone will be happy. This ban hurts sport betting sites, handicapping services and the sport bettor”

Banks And Credit Card Companies Balk At Ban On Gaming Fund Transfers

Depository institutions around the country are expressing deep concerns about the potential consequences of the Unlawful Internet Gambling Enforcement Act (UIGEA), which took effect June 1.

The new law, which online gaming sites have been preparing for since President George W. Bush signed it 2006, is designed to combat online gambling by preventing the fund transfers between credit card companies, banks, and online gaming sites running “unlawful Internet gambling.” It requires financial service providers to enforce the law by blocking transactions from gambling Web sites.

The law has drawn heavy criticism from these institutions…… Full Story

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