Online Casinos Directory

Is gambling a game of chance? Or is it a game of skill? What games fall into the ‘game of skill’ heading? If they do fall into a ‘game of skill’ heading, then are they exempt from gambling law?  These and many more questions were never delineated by the UIGEA. In fact, all it really did do was put the responsibility of watch dog onto the financial industry. It is this vagueness that caused people like Barney Frank and others to create amendments to the law. They are hoping that they can both legalize and regulate gambling to bring in much-needed billions of dollars in tax-revenue dollars.

It seems that Congress is heading towards a compromise in terms of the issue. The official announcement has not come yet, but it seems likely that the Treasury will extend the deadline of implementing the UIGEA another six months. iMega’s chairman Joe Brennan said, “It is really surprising we got this concession. It is very unusual for any department of the government to essentially forestall an act of Congress. This is a testament to the power of Congressman Frank. This has been his pet issue, because it is part of his core values for some time now.”

Many are excited about the deferment of the UIGEA because they believe it will give representatives enough time to adequately come up with a more relevant law regarding online gambling. That opens the door for legalizing and regulating online gambling and having access to the huge money involved.  As John Pappas, the executive director of the PPA, observed the following about the hearings: “We thought it would probably have to wait until January, so we’re pleasantly surprised to see this happen in December. I think Barney is sending a strong message to regulators and others that he’s serious about changing this law. He’s going to move forward with his plans to license and regulate this industry.”  It seems to be only a matter of time before online gambling is regulated and legalized. The billions of dollars that are being funneled out of the country in gambling dollars could be kept within the country. Of course there are decriers who still believe that it’s a bad move to legalize online gambling, but if the necessary precautions are monitored and taken, problems should be mitigated relatively quickly.