Reply To: Major News : UIGEA Regs Finalized

The banks are not willing or able to determine the difference between a legal online gambling transaction and illegal one. A legal one would be related to horse racing, Kentucky, or anything else covered by the carve outs. They won’t go far with these new regulations unless they are providing the ability to make this distinction. My guess – and this is only based on the information available – is that the administration would not be doing this to just waste their time. Perhaps some states will be willing to totally block the transactions, while some won’t block them at all.