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Reply To: More Legal Headaches from U.S. Online Gambling World

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#805261
Anonymous
Inactive

Things will change, but it will take a long time to change. If you read about the full implementation of UIGEA, many of its rules are “guidelines” for banks. As long as banks operate under these “guidelines”, they are in compliance. Again, if you read the nitty-gritty details, there really isn’t much that the banks have to actually do, to be in compliance with UIGEA. And as along as they are in compliance, they don’t run the risk of any non-compliance fines.

Politically, with Congress satisfaction at all-time lows, there is little advantage for any Congressman to jump aboard the overthrow-the-UIGEA bandwagon; hence, status quo at this point. There are still quite a few Bush holdovers working for the DOJ, and this is why you are reading about the prosecutions still. With the U.S. debt and deficit increasing by the day, eventually someone with clout will recognize (and push forward) a bill that will attempt to regulate the industry, so that tax revenue can be harnassed.

Until that time, it’s status quo. I think it will be like this for a couple more years, before anything substantial changes. Of course, the passing of the UIGEA had devastating effects on the industry, as we once knew it, so plenty of damage was done.