UIGEA hold on online gambling in the US
Barney Frank, the committee head, was the one that introduced the legislation that could have ended the UIGEA hold on online gambling in the US. The new bill would have been the basis for legalized online gambling and also help regulate the different companies that will be allowed to operate again.
The fight against the UIGEA (Unlawful Internet gambling Enforcement Act) has been put on hold temporary as the economic crisis in the US takes hold even more. The US economy has taken top priority within the US government now, as the chief ally in the congress to the online gambling community is actually the head of the US House Financial Services Committee.
Due to the serious issues that the Committee has do tackle first, the Bill will not be heard until September at the very earliest. This will be a heavy blow to the online gambling companies as most of them have been trying to prepare themselves for a move back into the US market. Some of the major players in the industry have settled their cases in the US, as they hope to return when the current laws change.
There has been much support for Barney Frank’s online gambling legislation, as there have been over 35 co-sponsors for the Bill, and the even more extraordinary thing is that they are from both parties (Democratic and the Republican Party).
The lawmakers now understand that the public would like to have the choice to be able to gambling online. Some of the have swapped sides since they voted in the UIGEA bill, many of them now believe that it I should be necessary to legalized online gambling