In 2006 there was a law passed regarding the use of the internet to take part in gambling. This law was called the Unlawful Internet Gambling Enforcement Act.
The law was put in place to prevent financial institutions from transferring money to illegal Internet gambling sites. The law did however exclude things such as fantasy baseball and other sports, lotteries, and horse racing.
The effect of this has been positive in terms of the purpose of the law. Many foreign markets have stopped permitting players from the United States to take part in gambling on their websites. These markets however are the markets that are more public and well known. The companies that are lower profile have proclaimed intent to continue allowing players from the United States to take part in gambling with them.
Much of the issue with the bill is to keep underage or problem gamblers away from opportunities to do these things. There are many people that are attempting to make provisions to keep these groups of people away from gambling sites. The hope is that in doing so an act could be put in place to take away certain bans on online gambling
The fact of the matter is, there is a lot of money available in online gambling and there are many people that want the opportunity to tap into that market. The government put the law into place based on these findings as described in subchapter IV of the Prohibition on Funding of Unlawful Internet Gambling:
Internet gambling is primarily funded through personal use of payment system instruments, credit cards, and wire transfers.
The National Gambling Impact Study Commission in 1999 recommended the passage of legislation to prohibit wire transfers to Internet gambling sites or the banks which represent such sites.
Internet gambling is a growing cause of debt collection problems for insured depository institutions and the consumer credit industry.
New mechanisms for enforcing gambling laws on the Internet are necessary because traditional law enforcement mechanisms are often inadequate for enforcing gambling prohibitions or regulations on the Internet, especially where such gambling crosses State or national borders
The government is clearly worried for one, about the problems behind enforcing gambling laws. In response to those worries the government saw fit to create laws that might have been slightly more restrictive than many would like. By doing this, they are able to keep a tighter hold on the problem.
There are many objections to this law due to the way that it was passed. In its conception, the law was passed as an attachment to the Safe Port Act. This act was completely necessary to pass. Because of this, the law regarding internet gambling was an easy one to pass. Many people have objections because the law was not voted on as an individual entity. This topic will be one that is will continually be discussed for now and for the time to come in the immediate future.
coltenspence writes reviews on various sporting events including the online betting websites. In this piece of write up, the author highlights on various betting odds i.e. online casino, online gambling etc.