UGIEA Regulations Legalize Online Gambling... Ya

lots0

Banned User - troll posts - flaming
Well I think this may be a good topic of conversation.

According to I. Nelson Rose one of the top experts in online gaming law the new UGIEA Regulations change nothing and even make it possible for credit card and other simplified transactions.

It took 66 pages of fine print. But in the end the federal regulators charged with making regulations to enforce the Unlawful Internet Gambling Enforcement Act (UIGEA) simply gave up.
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and here is a link to the actual regulations from the Treasury Dept. (it's a PDF)
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So now what?
Are we going to see the big public gaming companies come rushing back to the states...
 

lots0

Banned User - troll posts - flaming
It's not a crime to gamble online.
I have received emails from online poker players worried that they might be violating the UIGEA. The statute does create a new crime, being a gambling business that accepts money for an illegal transaction. But by its own terms it does not apply to individual bettors. And the regulations, which only apply to financial institutions, now make it clear that payment processors should not waste their time checking on where money is sent by individuals, and money received by individuals is not even covered by the UIGEA.
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No it's not illegal under Federal Law to gamble online, with the exception of Sports Betting (Federal Wire Act 1961). :)

Disclaimer: I am not a lawyer and this is not legal advice. Seek your own legal council.
 
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