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NETeller recently confirmed that they are staying in the US market, at least until the US implements the provisions of the UIGEA in July 2007. Realistically, there will need to be a major shift in the United States Congress to allow NETeller to continue operating under its current business model in the United States. By major shift, I mean something on the order of a repeal of the UIGEA, which is unlikely.
One possible scenario that I can see is that the regulations that are implemented will contain a loophole through which NETeller will attempt to squeeze through. History suggests that most regulations of this nature do contain loopholes that are exploited by interested parties, and there is little reason to think that the UIGEA regulations will be an exception. Once NETeller attempts to squeeze through the loophole, litigation may follow (although I can’t imagine what jurisdiction would hear the case).
We’ll all have to wait and see. In the meantime, game on!
By the way, if you are a US player and recently go kicked out of your casino or poker room (like I did), I got your back. Here is a list of online casino and online poker sites that continue to accept US-based real-money players. Fight the power.
In light of the Democrats winning control of the United States Congress on Tuesday, I am more convinced than ever that the Unlawful Internet Gambling Enforcement Act is here to stay.
The burden of the UIGEA is placed squarely on the shoulders of financial institutions (we’ll see to what extent in the next six moths or so as the actual regulations are crafted); since the Dems are less likely than Republicans to take steps to remove regulations that govern corporate behavior, I’m betting that we’ll be dealing with the UIGEA for at least the next two years.
Nearly two weeks have passed since the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) was signed, and here’s where the sites that are listed at The Online Casino Gambling Directory stand with respect to US-based real-money players:
76% of all sites have published or otherwise verified their policy
Of those sites that have published or otherwise verified their policy, 32% have exited the US market
Of the remaining 68% that remain in the US market, a full 52% continue to accept US-based real-money players from all states, while the remaining 16% accept US-based real-money players that do not reside in states that have specific online gaming bans on the law books (IL, IN, LA, MI, NJ, NV, NY, OR, SD, WA, WI).
While the UIGEA has certainly limited the number of online gaming options available to US citizens, it has not even come close to eliminating all options. As of this writing, US-based real-money players from all states can still choose from:
63% of the gaming sites have published an official policy.
Of those that have published an official policy, 27% have stated that they will no longer accept US-based real-money wagering, while the remaining 73% have stated that they will continue to accept US-based real-money wagering. (Some of the 73% accept US-based real-money wagering from only certain states — I’ll have a breakdown soon, so keep an eye here for that data).
[Note: The links above are dynamically generated and will change over time, so keep that in mind if you click on them more than a day or two after I published this blog entry.]
I have published each gaming site’s policy at The Online Casino Gambling Directory; just click the US flag graphic to the right of each site’s name in the Search Results List.
The Act is due to be signed today. I have noticed that a number of sites have switched their policy from “business as usual†when the Act was passed to “no US-based real-money wagering†now that the Act is about to be signed into law. Kinda like they checked, were raised, and now folded.
Yesterday, Firepay announced that they will decline purchases at gaming sites from US players starting with the day that Bush signs the “Unlawful Internet Gambling Enforcement Act of 2006″. Furthermore, ten days following the signing of the Act, they wll decline any transfer from gaming sites to US-based Firepay accounts.
My advice is to withdraw all funds from all gaming sites for which you used Firepay to make your most recent deposit — since gaming sites generally refund back to the deposit source before any other source (such as Neteller). Once all of the withdrawals appear in your Firepay account, withdraw the funds from the Firepay account to your banking account; you should try to make only a single withdrawal since Firepay charges a $10 fee for withdrawals.
This post is simply a placeholder in case someone follows a link from somewhere to the “Uncategorized” blog category. Sorry about that — go to the main page of my online gambling blog to get all the latest promotions, news, and information about online gambling.
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