Quick note for some of you who think this paves the way for the return of Pinnacle and Netteller.
PAPSA which was overturned today was a law that prohibited sports wagering. That is now dust.
UIGEA is the Unlawful Internet Gaming Enforcement Act of 2006. UIGEA in short has a few sections that go after the way money moves. Specificially section 5363, which covers money transfers and states that no person enganged in business of betting or wagering many knowingly accept any money transfers in any way from a person participating in internet gambling, inlcuding the use of credit cards, EFTs, and even paper checks. There are ways around this, but it is a giant pain in the ass for banks to maintain regulatory compliance, and it's what drove books out of the US Market, and closed up poker shops.
One law down, one to go.
PAPSA which was overturned today was a law that prohibited sports wagering. That is now dust.
UIGEA is the Unlawful Internet Gaming Enforcement Act of 2006. UIGEA in short has a few sections that go after the way money moves. Specificially section 5363, which covers money transfers and states that no person enganged in business of betting or wagering many knowingly accept any money transfers in any way from a person participating in internet gambling, inlcuding the use of credit cards, EFTs, and even paper checks. There are ways around this, but it is a giant pain in the ass for banks to maintain regulatory compliance, and it's what drove books out of the US Market, and closed up poker shops.
One law down, one to go.