US politicians postpone Internet gambling ban 6 months

The U.S. Treasury and Federal Reserve have delayed the implementation date for a new Internet gambling payment ban for six months, a move that gives lawmakers time to overturn it or end confusion over illegal practices.

In a joint statement, the Treasury and Fed said the December 1 implementation date for the law passed in 2006 would not be achievable for some financial institutions. They set a new compliance deadline of June 1, 2010.

“Commentators expressed concern that the act and the final regulation do not provide a clear definition of ‘unlawful Internet gambling,’ which is central to compliance,” the two agencies said.

In addition, they said certain members of Congress have “expressed an intent to consider legislation that would allow problematic aspects of the act to be addressed.”

The 2006 law, which cost European Internet gambling companies billions of euros in lost market value, prohibits credit card, check, and electronic fund transfer payments by U.S.-regulated financial institutions in connection with “unlawful Internet gambling.”

But rather than define what types of gambling are illegal online, the bill relied on existing federal and state laws to answer that question.

Congress passed the anti-gambling legislation in 2006, when Republicans still controlled both the House and Senate. The final regulations issued to enforce the ban were issued by the Treasury and Fed just before former President George W. Bush left office in January.

In America you have the right to be stupid as long as it’s not immoral. You can vote for a moron but not play bingo online.

4 thoughts on “US politicians postpone Internet gambling ban 6 months

  1. Mr. Fusion says:

    This is a consumer protection act, one of the very few enacted by the Bush Administration.

    When some “online” casino is not subject to the same scrutiny as a “brick and mortar” casino, you know someone is going to be ripped off. With bricks and mortar casinos at least you have someone in a gaming commission to complain to if there is a problem. There is no one to complain to when the casino that ripped you off is based in Romania.

  2. moss says:

    Unfortunately, most of the betting operations being blocked are quite legitimate firms based in England, Ireland and on the Continent.

    In the UK, you might be watching a football match and the electric signs at pitchside could say – Man U to score in the next 10 minutes, 4 to 1 odds, press the red button to bet. And you can press the red button on your Sky/Fox/Murdoch TV remote to place a bet. It’s that ordinary.

    Yes, geeks are used to reacting to the sleaze barons of spam and phishing – but, the question still comes down ordinary segments of commerce in other nations which don’t have the “moral” imperative to oversee a sin like gambling.

    • Mr. Fusion says:

      I won’t deny there are some “fair” internet gambling sites attached to real casinos. Do any of them post what the odds are? Or how much the house takes? Or who audits them? Or where you may complain? Until they do they are just more of the same crowd as the phishing / illegal d/l for money, etc. crowd.

      When you bet at a British football game, you have someone overseeing the action that complaints may be addressed to.

      As I said above, this is one of the very few consumer protections enacted during the Bush years even if it was intended to bolster the domestic bricks and mortar casinos.

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