I agree with the “wait and see” approach. I posted this in another thread, but it is relevant here too:
The language in the new law seems to place the burden on U.S. banks U.S. and credit card companies.
The new law does not say anything about ISP filtering. It is not going to become illegal to simply visit an online gambling site. It is not illegal to sign up for a free account, either. It is not illegal to own a .com that provides information about gambling, or how to play poker, etc.
The new law, as I said before, appears to make it illegal for U.S. banks and U.S. credit card companies to allow deposits to be made to online gambling establishments. The Wire Act was NOT updated. Repeat: The Wire Act was NOT updated. I think it’s important to remember that.
At this point, the burden should fall on the banks and credit card companies. 888, Party, and PartnerLogic (in my opinion) should not be doing the banks’ jobs for them, 270 days before the banks “need” to start taking any action. The best thing to do, I think, is to LET THE BANKS deal with this. Scrutinizing every single transaction might very well be an impossible task for the banks and credit card companies.
I strongly urge all online casino/poker/sports companies to take a “wait and see” approach. The law will not need to be enforced immediately. Once the bill is signed, the regulators have 270 days to come up with a way to deal with this. And like I said, it might not even be possible for them to take on something of this magnitude.
Wait and see, please. :huh:
Interesting comments, Simmo. Does anyone have a list of the PLC companies that they could post here?