US Poker Players get early x-mass gift | UIGEA delayed

The Unlawful Internet Gambling Enforcement Act of 2006 has been postponed, allowing financial institutions another six months to meet compliance to the draconian banking restrictions regarding most forms of USA Online Gambling, including online poker, sportsbooks and casinos.

The US Federal Reserve and Department of Treasury today extended the deadline for UIGEA enforcement until June 1, 2010, which is the result of a petition filed by the PPA (Poker Players Alliance), the National Thoroughbred Racing Association and the American Greyhound Track Operators Association.

The Poker Players Alliance (PPA), the leading poker grassroots advocacy group with more than one million members nationwide, today applauded the six month delay of the implementation of the Unlawful Internet Gambling Enforcement Act (UIGEA) regulations.

“The PPA is extremely pleased with the decision by the Federal Reserve and Treasury to grant the six month extension. This is a great victory for poker, but an even greater victory for advocates of good and fair public policy,” said PPA Chairman and former Senator Alfonse D’Amato. “These additional months are critical to provide legislators time to clarify UIGEA and pass legislation to license and regulate poker early next year. It is our hope that another extension would be granted should the deadline approach before these pieces of legislation can be passed.”

With the delay in place, legislators have managed to buy some time with repealing or reworking the UIGEA. Barney Frank, a Democrat in the House of Representatives, has been working to remove the UIGEA and indeed regulate online gambling through his bill H.R. 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act. This Act would set the framework for the taxation and regulation of online gambling, including casinos and poker rooms. Over 60 cosponsors have signed on to the Bill, and all parties involved have been carefully deliberating over the matter.

US Poker Players had been contending with the looming threat of increased difficulty with many USA deposit methods, as banks and credit bureaus would have been unable to process most transactions that had been related to online gambling such as online poker. With the ban temporarily delayed, players will continue with business as usual through their favorite USA online poker rooms, casinos, and sportsbooks.

Delaying implementation of the UIGEA regulations, which were pushed through by the previous Administration at the eleventh hour, will give Congress time to clarify the law to give clearer direction to the banks and those impacted by UIGEA. With six months remaining on the deadline, a repeal of the UIGEA or at least relaxed restrictions could become a reality.
So at least for the next six months US poker players can fully enjoy the tournaments, rake races and sign up bonuses on offer at the online poker rooms who still accept US players (including Full Tilt Poker, Cake Poker, DoylesRoom, UltimateBet and Absolute Poker)

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