Internet gambling enforcement act. June 1 2010

Question

Anyone have any  information on this law that is to go into effect June 1, 2010.

Wizerguy · Answer

Anyone have any  information on this law that is to go into effect June 1, 2010.

prof8t · Answer

Found this:One More Time: Internet Gambling Regulations to be Mandatory on June 1, 2010The six month reprieve on mandatory compliance with the Internet Gambling prohibition ends on June 1, 2010 when all banks must institute policies and procedures to block certain prohibited transactions.  It has been more than 17 months since the Department of the Treasury and the Board of Governors first issued the final rule implementing the Unlawful Internet Gambling Enforcement Act (UIGEA) on December 18, 2008 and 42 months since the law was signed in October of 2006.  The final rule requires a strengthened screening process at the time of account opening to deny commercial entities that may be acting as Internet casinos access to the payments system. It also requires that policies and procedures be implemented to prevent all debit and credit card payments to Internet casinos.  Banks that chose to put off implementation when the mandatory date was delayed must be ready on June 1, 2010.  As of this time, the agencies have not produced any examination guidance to assist banks in their compliance efforts.

madjacksucks · Answer

good info..thanks

gamble04 · Answer

When will this stuff ever be legalized the way you can bet horses.  The government is so stupid not to just tax internet gambling on sports.

Syddigs · Answer

Because you have too many PC groups who denounce gambling as the Devil. In the US from the privacy of your own home you can buy a gun, buy drugs, buy sex but you are not allowed to play online poker or bet on sports.The US is 50 years behind Europe and Australia when it comes to gambling.

SUPEREAGLE43 · Answer

So, other than making deposites to the internet site, does this affect US players in any other way?

Sewald · Answer

they will go after banks that accept checks to, you wont beable to get paid............

PaulKersey · Answer

Expect the House Banking Commission to set another hearing date likely this week to revisit the issue..maybe next week or it could really go down to a late May calendar date.

The mess on Wall St. and other pressing priorities caused Barney Frank and his supporters to cancel last month. Odds-on still another put-off date backed by the House and Congress to figure out some compromise on this ridiculous issue.

No one..most of all the banks want anything to do with the UIGEA, especially now. No need for alarm..bet on business as usual.

stackedpack · Answer

My guess is that it&#x27;ll get pushed back till after the November elections.  Im sure Frank will try to postpone this again.  Banks don&#x27;t wanna deal with this as it will cost them resources to implement this. Plus they have enough on their plates with Wall St. reforms.Even if something were to pass against us, the sportsbooks will find other ways to transfer money to and fro.

MRSARATOGA · Answer

Doesn&#x27;t sound like anything that isn&#x27;t already in existence.

Goldfisch · Answer

What if I have a friend that gets a big check form online gambling, should he claim that to the IRS? He wants to but he is afraid they will tell the authorities, He has no problem paying taxes.

Wizerguy · Answer

[Quote: Originally Posted by PaulKersey] &#xD;&#xA;Expect the House Banking Commission to set another hearing date likely this week to revisit the issue..maybe next week or it could really go down to a late May calendar date.&#xD;&#xA;The mess on Wall St. and other pressing priorities caused Barney Frank and his supporters to cancel last month. Odds-on still another put-off date backed by the House and Congress to figure out some compromise on this ridiculous issue.&#xD;&#xA;No one..most of all the banks want anything to do with the UIGEA, especially now.  No need for alarm..bet on business as usual. &#xD;&#xA; &#xD;&#xA;[/Quote]&#xD;&#xA;Buisness as usual

PkDlr33 · Answer

I was talking with a friend of mine on facebook this morning and he mentioned this June 1 deal too. I am about to open an online acct for World Cup, is there anything I need to know about how I should deposit or withdraw???? Or should I try and avoid it all-together. I live in the Southern United States, where gambling is considered Satan spawn unless u are in Mississippi, Florida or Louisiana. Any advice is welcome, thanks.

D_Unit · Answer

I use a prepaid visa debit card which works really well, especially w/ betjamaica.

PkDlr33 · Answer

Ok, does that go both ways, for ur deposits and ur withdrawals as well???

Internet gambling enforcement act. June 1 2010

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