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UIGEA Regs Drawing Near
10/16/09 - Hopes that the Obama administration in the United States would bring a more enlightened vision to the online gambling scene, and a delay in the implementation of the Unlawful Internet Gambling Enforcement Regulations, are fading as the industry considers the content and implications of the US government's Final Rule.
In November last year, some sixteen months after the UIGEA was passed by Congress and in something of a rush as the Bush administration was coming to an end, the Department of the Treasury and the Federal Reserve Board published the regulations supporting the UIGEA in the form of a Final Rule for compliance by US financial institutions.
Notice HP-1266 advised that the UIGEA prohibits gambling businesses from knowingly accepting payments in connection with unlawful Internet gambling, including payments made through credit cards, electronic funds transfers, and checks.
"The Board and the Treasury are required by the Act to develop a joint rule in consultation with the Department of Justice," the notification advised.
"The final rule requires U.S. financial firms that participate in designated payment systems to establish and implement policies and procedures that are reasonably designed to prevent payments to gambling businesses in connection with unlawful Internet gambling.
"The rule provides non-exclusive examples of such policies and procedures and sets out the regulatory enforcement framework. For purposes of the rule, unlawful Internet gambling generally would cover the making of a bet or wager that involves use of the Internet and that is unlawful under any applicable federal or state law in the jurisdiction where the bet or wager is initiated, received, or otherwise made."
Although the Final Rule becomes effective on January 19, 2010, compliance by financial institutions becomes mandatory on December 1, 2009.
Official announcements detailing the rule, together with legal interpretations, can be read at the following sources:
14 Left in MPNPT Tallinn Main Event -
All 14 players who have made it to the end of Day 2 in the MPN Poker Tour Tallinn Main Event can now consider themselves to have officially run deep.
Day 2 of the MPNPT Tallinn Main Event -
Day 1b of the MPN Poker Tour 2017 Tallinn Main Event easily surpassed the tournament’s €150,000 guarantee on its own. Yesterday’s 416 entries brought the total number so far up to 522
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.
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