What the UIGEA Really Means (Part III of III)

Section 5363 talks about the fact that it is illegal for online casinos to accept electronic money transfers for online gambling.

Section 5364 says that the online casino industry had 270 days to stop operating from the date the bill was signed into law. If they chose not to stop operating, then they had to block all US citizens from participating in the online casino. It makes the financial institutions block all payments to the online casino industry.

Section 5365 says that those companies that are processing payments to online casinos will be fined and prosecuted even if they are overseas. It says that the DOJ has the right to come after them, but this assumes that the country that they are operating in adheres to the UIGEA.

Section 5366 says that if you break the law you will go to jail for five years, pay a fine and lose all gambling privileges.

Section 5367 says that anyone who is in the US that is involved in the online casino industry either by playing or owning an online casino will be prosecuted for breaking the law.

The idea of the US taking away the personal rights of people to visit an online casino did not sit well with many people as you can imagine and there was much fighting and angst over it. However, to this day the law has not been overturned and the online casino industry has lost more than a billion since it passed in July 200.