Credit cards are the major electronic payment option available to online gamblers in the world. Players use them to make direct deposits and/or to put funds into their electronic wallets.

MasterCard is one of the largest credit card companies in the world, actually it is the second largest payments network, and now they have announced the acquisition of DataCash Group Plc (more…)

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From the CAP News page:

July 30, 2009 (CAP Newswire) — In an interview published at Poker News Daily, Nelson Rose, a noted gambling law professor who often speaks out on the regulations against online gaming, told the publication that, whether or not the law goes into fuller effect this December as planned, the UIGEA regulations are likely to have minimal impact on the poker industry at large.

“I think there’s a good chance that HR 2266 will pass,” Rose said, referring to the legislation currently in Congress that seeks to overturn most of the UIGEA’s stipulations. “Nobody likes the regulations of the UIGEA, but it’s of such little interest to members of Congress right now.”

However, Rose went on to discuss why it might not matter that much. “The whole focus has changed,” he said. “Instead of looking at individual transactions, financial institutions are now told not to. Basically, the whole program focuses on due diligence on new accounts. If you’re crazy enough to set up a bank account with an American bank, they’ll ask if you’re involved in illegal internet gambling. Banks are specifically told not to look at individual transactions, so it doesn’t really do much except impose an extra level of regulation and cost onto the banks. The payment processors have already figured out ways around it.”

“The UIGEA is a piece of garbage, but the regulators did the best they could do with it,” Rose continued. “It’s a requirement that banks spend money for nothing and that’s not what the government should be doing right now.”

Click here to read the complete interview at Poker News Daily.

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Nathan - CasinoAffiliatePrograms.com Staff

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So, as much as I want a casino or two in Ohio, I will be voting NO on issue 6 as I firmly believe a casino will be great for the state, but it must be done correctly or its just a giant vacuum for Ohio’s cash.

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Getting back to the point, with barney frank presiding over this bill, how hard would it be to slip in an end to the UIGEA as its another must pass bill.  You know my stance on ”slipping” something onto a bill but this would be a double negative making a real positive no?  With Frank’s attempts at passing a bill to eradicate the UIGEA as its a complete joke and Bordon on the banking industry, it seems almost for sure he will add text to regulate gaming online or at least wipe out this stupid addition to the port security act.

 All we can do is hope something decent comes of this fiasco, maybe a moment of silence or a few thousand emails to Frank to let him know this is a good idea! 

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WASHINGTON (AP) — With time running out, the tiny Caribbean island nation of Antigua and Barbuda holds the cards in a dispute over Internet gambling that could ultimately cost the United States billions of dollars.

If arbitration efforts fail, Antigua and other aggrieved parties, including the European Union, could begin exacting sanctions as early as next month over the U.S. decision to withdraw from a World Trade Organization accord recognizing the legality of Internet gambling.

Antigua is seeking sanctions worth $3.4 billion, and has suggested it might claim that sum by becoming a harbor for pirated intellectual property such as movies and musical recordings. Total sanctions claimed by the EU, India and other countries approach $100 billion, although the United States, in negotiations, contends that appropriate levels of compensation would be far less. (more…)

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