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Anti Online Poker Legislation Looks Doomed
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Author: Marc
March 4 - When the UIGEA was slipped in to law by Bill Frist the online poker community took it hard expecting the worst, but that was in 2006 and at this point with no one sure how to implement this act from the U.S. Treasury to the banks it could prove to be a damp squib.
In a recent article that appeared in The Washington Post by Cindy Skrzycki the shortcomings of this law were itemized, and I have to say it made for the most enjoyable reading. It is all the sweeter knowing that mainstream publications are paying attention to the stupidity and hypocrisy of their lawmakers.
The central issue is that the Treasury and the Department Of Justice cannot come to an agreement as to whether the law should apply to inter-state betting on horse racing. This is amusing because the UIGEA does try to carve out exemptions for horse racing, but the Justice department refuses to buy it because the wording of the act is vague at best.
Federal prosecutors have tried to go after the horse racing industry for 30 years on this matter. The UIGEA doesn't offer any clarification on the matter, and if anything has made the situation worse. The good news for online poker is that banks are loathe to enforce the act's requirements. It will cost them a fortune, prove impossible to administer and monitor, and thanks to the government squabbling they have an out:
"If the federal agencies themselves cannot agree on the law, what hope is there that banks can resolve these confounding legal issues?" That's the official statement from the American Bankers Association, a powerful lobby in their own right. One can only hope that they continue to dig in their heels!
There was a period for comments and then the Treasury department was supposed to put the law into action. But they've received so many comments (over 200, from various irate groups) that the law is now way overdue, and looks like it will languish for some time to come.
Care to reconsider, PartyGaming? Actually, don't worry about it, Americans miss you a lot less than they thought they would.
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