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Unlawful Internet Gambling Enforcement Act Postponed

November 29 2009

In an amazing announcement coming out of Capitol Hill, the obligatory concurrence time for the statutes of the Unlawful Internet Gambling Enforcement Act, which became active as of midnight rulings earlier this year by the departing Bush government, will probably be deferred for 6 months, according to a number of high-profile authorities in the trade. At first, the monetary service industry in the USA had until Dec. 1st to comply with the 2006 statute. At present, that date appears to be pushed back to the 1st of June 2010.

No comment from USA Treasury Secretary or Federal Reserve Chairman had been published yet. Interactive Media Entertainment and Gaming Association Chairman related, ďIím surprised because normally it's unusual for the Treasury to do this. Regardless of whether it was the Poker Player Alliance's pressure, the banking industry's pressure, or Congressman Barney Frank's pressure, itís encouraging to see. It's the first time you could say that things have stopped going against the industry here in Washington, DC."

The Poker Player Association was between a number of crews that authored bulletins to Bernanke and Geithner advocating that the obligatory submission period for the UIGEA statutes be postponed until Dec. 1st of 2010. Other people who m their voices be heard the National Thoroughbred Racing Association, the American Greyhound Track Operators Association, and members of Kentuckyís Congressional delegation, which dreaded that over blocking of legal online gaming transactions could put an end to online wagering on horse racing. In New Hampshire and North Dakota, over blocking led to contradiction of legal online lottery acquisitions.

Authorities noted that concluding verification of a 6 month deferment had not yet been published. Given the December 1st deadline, Geithner and Bernanke had until following Tuesday to release a formal announcement. On Thursday, citizens of the USA will commemorate Thanksgiving, leading to a potential statement on Friday or Monday.

On Thursday, Dec. 3rd, a hearing in Room 2128 of the Rayburn House Office Building will see debate over HR 2266 and HR 2267. The previous deferments the submission target date of the UIGEA statutes by one year to Dec. 1st of 2010, in spite of the fact that if it will still be debated given todayís news of a 6 month postponement is not yet avowed. HR 2266 has 53 co-sponsors who introduced the measure in May.

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