UIGEA rules may be repealed soon.
By far the best news for online gambling industry in US for many years. US congress is trying to repeal UIGEA rules, which puts bar on gambling transactions.
A new bill will introduced next month in March and this time things are looking way clear for congressman, barney Frank to overturn UIGEA.
According to UIGEA rules, "playing online poker, casino’s or betting online on any games is illegal, banks and other financial institutions are not allowed to process players transaction to gambling sites".
All the above rules will be abolished and a new set of rules will be implemented. The new rules will bring legalized online gambling , taxing gambling winnings. No fear of prosecution.
Already many states have allowed local citizens to play poker online and casino’s without fear.
Things are definitely looking good for gambling industry as the market is estimated to be worth $55 billion by 2010.
- online gaming, News | Time: 5:40 am (UTC+8)
