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Life Line Of The United States Online gambling Law
In 1996 we saw an explosion of online casinos that swept thru the world. The US saw an incredible increase in both online casinos and players. This huge increase of internet players worried the land-based casino owners and they lobbied to have it stopped or at least slowed down. They realized if this pace continued they'd see more of a reduction in profits. So they lobbied Congress hard and in 2006 The United States passed the Unlawful internet gambling Enforcement Act (or UIGEA).
The UIGEA act prohibited all of the banks and payment processors from processing any kind of transactions in connection with internet gambling. This created a problem for players in depositing and withdrawing funds from their internet accounts. While the companies continued to operate they had to use payment processors that could circumvent such restrictions. Despite all these laws related to internet gambling, some online casinos continued to accept players in the United States.
On the other hand, most of the bigger internet brands left the United States market, the choices for players became quite limited. Many said it was tough to find a good internet casino. A lot of reviews sites began to pop up that directed players to the sites they so desperately looked for. Some of the sites were better than others, but they served the need which was created. Soon after the industry started to stabilize and players were playing online again, Black Friday hit the internet gaming world.
Several casinos had found a way around the deposit and withdrawal problems and the internet gambling world was growing once again. Many began to feel invincible to this new law. The federal government was not really enforcing it and it seemed like they had no intentions starting. It was certainly a false feeling of security for both the players and online casinos. April 15, 2011, will go down in history as the day the internet gambling sector was punished and punished hard. It was the start of a new era. The US Department of Justice charged the principals of the three largest poker sites poker Stars, Full Tilt Poker and Absolute Poker with bank fraud, illegal gambling offenses, and laundering billions of dollars in illegal gambling proceeds. The DOJ seized their internet addresses as well as their funds. Unexpectedly many US players were not just left with nowhere to play and no way to recover their funds.
Black Friday forced additional gambling brands to depart the United States Market. Everybody was once again scrambling to find new places to play, worried when they would ever get their money back, and wondering if anybody would stay in the US market. A major blow was struck to internet gaming and many people wondered if it would survive. Again the rating sites played an important role in finding places for players to play. Now the market was very limited and it was a struggle to find internet sites. Once again the market slowly started to stabilize and things settled down a bit. The market was damaged but survived.
The other major event was Gray Monday. Grey Monday saw more domains and gambling operations seized. There were two main disparities with these seizures. This time both big and small sites were seized. Various sectors in the industry were seized including internet poker, casinos, sports books and also bingo. Basically no one was safe now. Now the size of the company did not matter anymore. Nor did the industry you were in. This round of seizures was experienced by everyone throughout the gambling industry. The full effects of this seizure have not been felt yet but there is now even less internet US casinos available. Will the industry survive? It remains to be seen but it's been hit hard.
IG Online: Jonathan Horton 2011 Post Operative Interview
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