UIGEA introduction delayed by 6 months

At the end of last week a last minute decision was made by the US Treasury Department to delay  the implementation of the Unlawful Internet Gambling Enforcement Act (UIGEA) from December 1^st 2009 until June 1^st 2010 and it takes a load off the mind of many customers who were trying to remove funds from online casinos before the axe fell and they were also concerned about receiving winnings after the introduction of the law. Online casino operators have also been concerned about continuing operations under the new law but are now hopeful that Barney Frank has enough time to stop the legislation entirely.

Mr Frank said on Friday showing clear approval of the decision “The Department of the Treasury and the Federal Reserve Board of Governors deserve a great deal of credit for suspending these midnight regulations promulgated by the Bush administration which would curtail the freedom of Americans to use the internet as they choose and which would pose unrealistic burdens on the entire financial community”. Representative Frank is convinced that the time will come when internet gambling will be regulated in the USA as it is in many other countries and added “ This will give us a chance to act in an unhurried manner on my legislation to undo this regulatory excess by the Bush Administration and to undo this ill-advised law”.

US gamblers are not out of the woods yet but this is a major decision that will benefit punters and bookmakers alike.