UIEGA Bill Delayed until Mid 2010

It has been announced the UIEGA bill which was to come into force on 1st December 2009 has been deferred until 1st June 2010. The bill was going to officially make it illegal for financial institutions to transact money transfers to online gaming sites where the games are luck based. There were small movements in the poker community to convince judges that poker was a skill game, however these efforts were not moving quick enough to cause a delay of the bill. Thankfully a stay of execution has been granted so that the debates from both sides can be heard before a final decision is made.

In the interim period between now and June 1st, Congressmen Barney Frank wants to push a bill through named HR 2266 that gives the US government a complete framework to legalise online poker and online gambling but gain a revenue stream in the form of taxation from it. This bill is reported to have the support of some sixty three other congressmen and if passed, could see the legalisation of online poker with players able to play where they choose.

Professional poker players are crossing their fingers that the delay of the UIEGA bill is a sign that it will be over turned in favour of Barney Frank’s proposals. Many online poker players stopped playing online poker and withdrew their funds quickly from the poker sites in anticipation of this ruling. Now that there are signs online poker may be legalised, it is hoped that many new players or former players who stopped playing will return to the player market increasing the poker player pool and potential profitability of online poker.

With the support of many congressmen the poker-friendly bill has a reasonable chance of getting through the political process to become law. It would be better for online poker that rather than be arbitrary about stopping gaming transfers that they allow these transfers to go ahead but introduce regulations to safeguard the consumer’s interests. Many poker players are frustrated that the government is trying to tell them what to do with their own money. They are upset that the government are cutting the players off from online poker at source because of opinions over the gambling itself but using concerns over financial transfers to achieve these aims. Poker players would prefer regulation so that those who play have the peace of mind the poker sites themselves are monitored, especially in light of recent scandals to do with players having their money stolen by poker sites, who because of being based offshore are legally immune from lawsuits seeking compensation.

It has been difficult for the online gaming communities to be heard on the UIEGA bill objections as issues such as the global economic downturn and health care in the USA have dominated the headlines and the politician’s interests. Hopefully now things are settling down and Barney Frank is taking the UIEGA bill on head-on there will be debate and hopefully a positive resolution for poker players.

The glory days of online poker saw many players making lots of money from online poker. The influx of a host of new players back to the poker tables would be thanks to the online poker players being free to play wherever they liked. Regulation rather than restriction will allow online poker to flourish without legal proceedings looming over them. Mr Frank and many others are in a race against time to get this legislation passed before the June 1st date where the UIEGA bill will come into force.

By Malcolm Clarke

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Tags: barney frank, online poker, poker bill, Poker News, uiega