Playing online bingo used to be one of the most popular pastimes in the U.S, then in 2006, during the George Bush II administration, this was all brought to a virtual standstill with the implantation of the Unlawful Internet Gambling Enforcement Act. Now affectionately called UIGEA, at that time many UK and European and UK online bingo businesses, trading with the US were brought to a virtual standstill, as the Act disallowed US banks to authorize financial transactions between US gamblers and other gambling operations.
There are still many online ops providing operations to the US, but Think about this, I have a U.S bank account, I live in South Africa and I am not allowed to use my U.S debit card to transact my online bingo deposits in the UK, i’ve tried it with wink bingo, think bingo, foxy bingo and most recenlty posh bingo, with no luck whatsoever. This is what UIGEA is responsible for. Essentially the US embargoed the concept of free trade, from the UK and Europe to the US, still expected US companies to be able to ply their trades in the UK and Europe. Many companies went under, people lost their jobs and those that survive have done well.
Although new President Barak Obama has been asked to redress this bill, he has had a bit much on his plate cleaning up the mess left behind by the Bush administration. However apparently poker, horse racing and sports betting – are to receive attention. Proposals are presently winding their way through Congress and these could legalize certain types of Web-based betting. One certainly hopes that Bingo will be included.
Gambling experts aren’t getting their hopes up yet however, this could take as long if not longer than a year to come to being heard, and in the meantime the US administration is losing out on taxable dollars in excess of nearly $6 billion in the US and $21 billion worldwide which is generated by the online gaming industry.
Barney Frank who has been supporting a proposal to regulate this industry much like the UK, rather than an outright ban, can see the income earning potential for the Government by regulation. However legislators are dragging their feet in this regard.
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