UIGEA legislation looms no extension expected
Come June 1st 2010 the world of online poker could be flipped on its head in a way not seen since 2006, when publicly traded online poker rooms left the US market. After a 6-month extension to give lawmakers a chance to pass legislation on online gambling (poker included) it’s highly unlikely anything will get done before the Unlawful Internet Gambling Enforcement Act goes into effect.
The legislation does not make playing online poker illegal per se, what it does is impose stiff penalties on banks for processing Internet gambling transactions. At this time, the online poker world is left to guess at what this will mean for online poker. The question becomes, how will US poker players deposit, and more importantly withdraw, funds to and from online poker sites? Also in question is whether banks will seize any funds players attempt to withdraw in the form of a check.
Poker players are left with little recourse as the US Congress deals with financial reform, immigration reform, and a number of other “high-priority” issues, which leaves Internet gaming on the backburner. Even the strongest advocates of a legalized online poker world can only sit and wait until the issue can be debated.
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