There has been great uncertainty over the last few months regarding the future of online gambling. The opposition by conservatives of many governments that have propelled the idea that gambling should be banned and not allowed has not made things easy. But since the gambling takes place on the internet, it is very hard for Big Brother to keep complete control over it.
More liberal-minded politicians believe that people are going to gamble no matter what law you pass or what you say, so why not legalize the industry, regulate it and tax it like any other. A prominent congressman in the United States of America is proposing exactly this and is debating with many other politicians if this can be done. This issue is being debated heatedly since the deadline for the UIGEA (an online gambling ban passed by the Bush administration in 2006) is coming up in June 2010. It had already been delayed 6 months by the Treasury of the US, after many financial institutions were saying they had not enough time to comply with every aspect of the law. The law states that a financial institution such as bank or credit card company, many not provide its services to online betting sites. The recent pull out by international corporation Mastercard Worldwide from providing payments to online poker and casinos, is directly attributed to the effects of the UIGEA on these types of companies.
Recently, some top senior ex-executives from Mastercard have prepared a processor company for the United States. They believe that online gambling will be legalized soon and they want to be the first company to provide regulated, secure services to this large public.
If the USA does pass a law the allows online gambling to be legal, we can expect that the same can happen to many other first-world countries, such as Germany, France, Denmark, Australia and the like. For now, US player must continue to use only Visa credit cards and in some cases American Express and Diner's Club. There are also other methods to deposit and withdraw, such as the so-called e-methods like EwalletXpress, UseMyWallet, and Global ATM.
We can speculate a bit here at the end of this review. We can say that online gambling in the USA will never go away. It is such a huge market that someone will always come in to take care of any deficiency, whether it be in payments solutions or other. The best option the US has is to legalize online gambling, by taxing and regulating it.
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02152010
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