UIGEA Rush

Time is running out for the government to figure out what they’re going to do about the UIGEA. Since it first came out in 2006 people on all sides have been complaining that the rules are very vague and hard to follow and regulate. The highly controversial UIGEA has made waves all over the world since outside online slots casinos think it’s unfair that they have been shut out of the market, and then been held accountable for activity they participated in that took place even before the law came into effect in the first place. Still others are upset that the law has so many loopholes, as it does not make the actual online gambling illegal, but says that the financial transaction with illegal online casinos is unlawful. That raises the question of whose jurisdiction it is to investigate and enforce the rule, and how to make people aware of the law in the first place. Furthermore, the modifications seek to define exactly what makes an online casino legal and what does not.

Now that President Bush is on his way out, and Obama will be taking over, Congress has been in a race against time to come to a final decision as to how to modify the wording so that it will be more fair and clear to all parties involved. The UIGEA is already a controversial issue, and people in the Bush camp having been pushing for it to be finalized so that it will not be in danger of being thrown out in the changing of the guard. The procedure is quite routine and is referred to as a ‘Midnight Drop’.

The UIGEA was a messy and harried issue in the first place as it originated as a form of midnight drop, in that it was hastily tacked onto another bill that had nothing to do with it in the first place. Since then many international companies have suffered due to the loss of a major part of their revenue that used to come from the American market. Some companies went under, while others proved to be more resilient as they adjusted their business model to accommodate the new changes.