The Department of the Treasury and the Federal Reserve Board have released the proposed regulations for the Unlawful Internet Gambling Enforcement Act (UIGEA). An initial review of these regulations confirms everyone's suspicions that the UIGEA is bad law and entirely ambiguous and unenforceable. Faced with the difficult task of attempting to provide the mechanisms for how this act would be enforced it appears that the Treasury has punted on the issue and proposed very broad regulations that leave it up to the financial intuitions to attempt to come up with an appropriate system to prevent funds being transferred to restricted parties. As anyone that has any experience in the financial industry would tell you, the banks are in no position to be able to do this and we can be sure they will make this position know during the official comment period on these proposed regulations.
Bill to Officially Legalize Internet Gabling Gains Wide Support
Friday, October 05, 2007
As we have reported previously, Rep. Barney Frank, D-Mass is leading the charge in support of the Internet Gabling Regulation and Enforcement Act (H.R. 2046). Along with Rep. Frank, there are 37 other members of Congress who have co-sponsored this bill. The bill would repeal the UIGEA and commission a study to determine the best way to regulate (and tax) Internet gambling.
Bodog is now BodogLife
Friday, September 21, 2007
Bodog has consolidated their online poker, online sportsbook, and online casino into one new brand, BodogLife. You will now be able to access everything at BodogLife.com.
