@Dominique 215758 wrote:
But they didn’t HAVE to, UIGEA is not enforced yet and hasn’t really launched for lack of actual guide lines and laws. The only actual federal law concerns itself with sports betting over the telephone. Other than that, some states have laws and some don’t. So far the banks have said that it is not enforeceable because they do not know what laws to enforce. So why are credit cards doing it?
Let’s be clear – the UIGEA has been passed and it specifically outlaws payments to and from “illegal gambling” operations. It’s final date for mandatory enforcement has been set back a few months in order to give banks more time.
You might want to debate exactly what defines an “illegal gambling operation” in a private affiliate forum – but I bet you don’t want to try it in a courtroom against the United States goverment … and neither do VISA or MASTERCARD.
:Cry:
The US Federal government has regularly (and possibly incorrectly) made statements the they consider poker and casino to be illegal – and the recent party poker penalty payments by Mr Diksh!t (name still makes me laugh) just enforce that vision in peoples minds.
The US government is winning by fear, bluster and high profile regulatory court cases in related areas maknig headlines.
As publically owned companies, it would a gross derelection of duty by the cheif officers if they walked into that scrap – especially when they have it within their transaction information to enforce the law.
Additionally, the banks have NOT said it’s not enforcable because “they do not know what to enforce” they’ve said it’s not enforcable because the of the limited amount of data involved in a financial transaction when it reaches the clearing house.
Standard banknig transactions contain just an amount, a destination account, and an orginating bank/branch and sender name – nothing more – and nothing concrete. If the casino/poker sender creates a phony name – then it cannot be picked up.
So the banks are saying it’s not enforceable due to lack of data – and as I said at the time (two years ago?) it going to be a real headache for them to change a format that is several decades old.
Until UIGEA is actually repealed I can’t see any major US financial insitution touching online gambling of any sort – the threats, penalites and headlines are just too risky for corporate America.