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Call For Hold On UIGEA Regulations
10/3/09 - Washington politicians from both political parties have called for a hold on the implementation of the supporting regulations for the Unlawful Internet Gambling Enforcement Act (UIGEA), due to kick in on December 1st this year. The bipartisan call by nineteen Congressmen and women claims the move will place an unreasonable burden on regulators and the financial services industry at a time of economic crisis.
U.S. House Financial Services Committee Chairman Barney Frank led Friday's call, which complements proposed legislation to set the regulations back for a year whilst the legalisation of online gambling in the United States is debated.
"We are writing to strongly urge you to ... to extend the date of compliance for the final regulations implementing the Unlawful Internet Gambling Enforcement Act by one year," the legislators appealed in a letter to U.S. Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke, describing the regulations as 'flawed'.
Congress passed the anti-online gambling legislation, which disrupts financial transactions with online gambling sites, in 2006, when Republicans still controlled both the House and the Senate.
The bipartisan group included Republicans Ron Paul of Texas, Judy Biggert of Illinois and Peter King of New York.
A spokeswoman from the Federal Reserve said they had received the letter and would respond to it. There was no immediate comment from the U.S. Treasury.
The controversial UIGEA caused the exit of major European companies from the US market, incurring billions in losses. The manner in which the law was passed attached to an unrelated security bill, and its imprecise nature, together with inequities that allow online betting on horseracing, fantasy sports and state lotteries have continued to create serious problems for the US, damaging its international reputation in the World Trade Organisation.
At home, financial organisations have warned that the imprecise nature of the Act will create 'overkill' situations in financial institutions burdened with its enforcement. These have already surfaced in the form of problems of definition that have adversely impacted at least two state lotteries .
Friday's appeal to Geithner and Bernanke urges the officials to accept a petition filed by the National Thoroughbred Racing Association, the American Greyhound Track Operators Association and the Poker Players Alliance asking for a delay in the implementation of the rules for one year.
Conservative Christian groups and the major US professional sports leagues are opposed to legalising and taxing online gambling.
Gambling News :
Michael Myers is back in Halloween Slot Machine -
Get ready for a blood-curdling adventure with Microgaming’s latest offering – Halloween Follow Annie, Lynda, Doctor Loomis, and our heroine Laurie as they try to survive the ultimate horror movie villain, Michael Myers.
Joe Fortune new Rewards Program -
Once you sign up, you’re automatically enrolled in the rewards program – and that’s when the epic journey begins. You’ll start earning Adventure Miles immediately, and can embark on the quest of a lifetime: To get paid to play, which stays true to the rewards program’s slogan, ‘Play More Get More’.
NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday -
Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
Pro League Reveals Sportradar Contract Details -
The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.
NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.
2 New Slots For Microgaming Casinos -
David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.
MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
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